House Bill 4284
116th Congress(2019-2020)
AGED Spirits Act
Introduced
Introduced in House on Sep 11, 2019
Origin Chamber
House
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
4284
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.
No House votes have been held for this bill.
Summary
Advancing Growth in the Economy through Distilled Spirits Act or the AGED Spirits Act
This bill amends the Internal Revenue Code to exclude, after 2019, the aging period from the production period for distilled spirits, for purposes of determining whether a taxpayer can expense, rather than capitalize, interest costs paid or incurred during the production period. This allows producers of distilled spirits to deduct interest expense associated with production in the year it is paid.
September 11, 2019
09/11/2019
Referred to the House Committee on Ways and Means.
09/11/2019
Introduced in House
Public Record
Record Updated
Nov 1, 2022 1:50:04 PM