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Bill > S3101
US S3101
US S3101A bill to amend the Internal Revenue Code of 1986 to repeal the limitation on the cover over of distilled spirits taxes to Puerto Rico and the Virgin Islands and to transfer a portion of such cover over to the Puerto Rico Conservation Trust Fund.
summary
Introduced
12/18/2019
12/18/2019
In Committee
12/18/2019
12/18/2019
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
116th Congress
Bill Summary
A bill to amend the Internal Revenue Code of 1986 to repeal the limitation on the cover over of distilled spirits taxes to Puerto Rico and the Virgin Islands and to transfer a portion of such cover over to the Puerto Rico Conservation Trust Fund. This bill repeals the limitation on the amount of distilled spirits excise taxes covered over (paid) to the treasuries of the Virgin Islands and Puerto Rico. The bill also requires the Department of the Treasury to transfer a portion of the amount required to be covered over to Puerto Rico to the Puerto Rico Conservation Trust Fund.
AI Summary
This bill repeals the limitation on the amount of distilled spirits excise taxes that can be covered over (paid) to the treasuries of the Virgin Islands and Puerto Rico. The bill also requires the Department of the Treasury to transfer a portion of the amount required to be covered over to Puerto Rico to the Puerto Rico Conservation Trust Fund, which was established pursuant to an agreement between the U.S. Department of the Interior and the Commonwealth of Puerto Rico in 1968.
Committee Categories
Budget and Finance
Sponsors (4)
Last Action
Read twice and referred to the Committee on Finance. (on 12/18/2019)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/116th-congress/senate-bill/3101/all-info |
| BillText | https://www.congress.gov/116/bills/s3101/BILLS-116s3101is.pdf |
| Bill | https://www.congress.gov/116/bills/s3101/BILLS-116s3101is.pdf.pdf |
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