Bill · S. 1986· Senate(119-S-1986)
A bill to amend the Internal Revenue Code of 1986 to extend the temporary increase in limitation on the cover over of distilled spirits taxes to Puerto Rico and the Virgin Islands.
Age: 69 years
Louisiana
- Introduced
- 6/9/2025
- Last activity
- 6/9/2025 — Read twice and referred to the Committee on Finance.
- Sponsored by
- Bill Cassidy
- Cosponsors
- None
Taxation
- Introduced
- In Committee
What this bill would do
This bill aims to amend the Internal Revenue Code of 1986. It specifically seeks to extend a temporary increase regarding the limitation on the cover over of distilled spirits taxes. This extension applies to Puerto Rico and the Virgin Islands. The change involves updating a specific date within the code.
Who it would affect, and how
Potential Positive Impacts for People
- Extension of Tax Limitations: The bill extends the date for the temporary increase in the limitation on the cover over of distilled spirits taxes from January 1, 2022, to January 1, 232, as noted in Section 1(a). This provides a continued framework for distilled spirits taxes for Puerto Rico and the Virgin Islands.
Potential Negative Impacts for People
- No negative impacts are explicitly stated in the text: The provided text only outlines the extension of the tax limitation and does not list any potential burdens or negative consequences.
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Hover a score for the reason it gave.
No significant interests or groups are affected by this bill.
- 6/9/2025
- Read twice and referred to the Committee on Finance.
- Introduced in Senate
One bill Congress.gov lists as related to this one — companions in the other chamber, earlier versions, and bills this one absorbed or was folded into.