Bill Sponsor
Senate Bill 2251
116th Congress(2019-2020)
AGED Spirits Act
Introduced
Introduced
Introduced in Senate on Jul 24, 2019
Overview
Text
Introduced in Senate 
Jul 24, 2019
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Introduced in Senate(Jul 24, 2019)
Jul 24, 2019
Not Scanned for Linkage
About Linkage
Multiple bills can contain the same text. This could be an identical bill in the opposite chamber or a smaller bill with a section embedded in a larger bill.
Bill Sponsor regularly scans bill texts to find sections that are contained in other bill texts. When a matching section is found, the bills containing that section can be viewed by clicking "View Bills" within the bill text section.
Bill Sponsor is currently only finding exact word-for-word section matches. In a future release, partial matches will be included.
S. 2251 (Introduced-in-Senate)


116th CONGRESS
1st Session
S. 2251


To permanently extend the exemption for the aging process of distilled spirits from the production period for purposes of capitalization of interest costs.


IN THE SENATE OF THE UNITED STATES

July 24, 2019

Mr. McConnell (for himself and Mr. Paul) introduced the following bill; which was read twice and referred to the Committee on Finance


A BILL

To permanently extend the exemption for the aging process of distilled spirits from the production period for purposes of capitalization of interest costs.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. Short title.

This Act may be cited as the “Advancing Growth in the Economy through Distilled Spirits Act” or the “AGED Spirits Act”.

SEC. 2. Production period of distilled spirits.

(a) In general.—Subparagraph (B) of section 263A(f)(4) of the Internal Revenue Code of 1986 is amended to read as follows:

“(B) TERMINATION.—Clauses (i) and (ii) of subparagraph (A) shall not apply to interest costs paid or accrued after December 31, 2019.”.

(b) Effective date.—The amendment made by this section shall apply to interest costs paid or accrued after December 31, 2019.