Senate Bill 362
116th Congress(2019-2020)
Craft Beverage Modernization and Tax Reform Act of 2019
Introduced
Introduced
Introduced in Senate on Feb 6, 2019
Overview
Text
Sponsor
Introduced
Feb 6, 2019
Latest Action
Feb 6, 2019
Origin Chamber
Senate
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
362
Congress
116
Policy Area
Taxation
Taxation
Primary focus of measure is all aspects of income, excise, property, inheritance, and employment taxes; tax administration and collection. Measures concerning state and local finance may fall under Economics and Public Finance policy area.
Sponsorship by Party
Oregon
Minnesota
Arkansas
Arkansas
California
Colorado
Connecticut
Delaware
Delaware
Florida
Illinois
Indiana
Indiana
Kentucky
Louisiana
Louisiana
Maryland
Michigan
Minnesota
Mississippi
Mississippi
Missouri
Missouri
Montana
Nebraska
New Hampshire
New Hampshire
New Jersey
New Jersey
New Mexico
New Mexico
North Carolina
North Dakota
North Dakota
Oklahoma
Alabama
Pennsylvania
Pennsylvania
South Carolina
South Carolina
South Dakota
Washington
Washington
Wisconsin
Wisconsin
No Senate votes have been held for this bill.
Summary

Craft Beverage Modernization and Tax Reform Act of 2019

This bill modifies the tax treatment of certain alcoholic beverages to

  • exclude the aging period from the production period for beer, wine, or distilled spirits for purposes of determining whether a taxpayer can expense, rather than capitalize, interest costs paid or incurred during the production period;
  • reduce excise tax rates on beer and distilled spirits;
  • permit the transfer of beer between bonded facilities without payment of tax;
  • increase the amount of the small wine producer tax credit and expand the categories of producers covered by such credit;
  • allow an adjustment to the producer credit for hard cider; and
  • modify the alcohol content limitations that apply to certain wines for tax purposes.

The Department of the Treasury must amend applicable regulations with respect to the use of wholesome products suitable for human consumption in the production of fermented beverages.

The bill also increases funding for the Alcohol and Tobacco Tax and Trade Bureau.

Text (1)
February 6, 2019
Actions (2)
02/06/2019
Read twice and referred to the Committee on Finance.
02/06/2019
Introduced in Senate
Public Record
Created
Feb 7, 2019 6:10:16 AM
Updated
Jun 11, 2021 10:02:00 PM