US HB4284 | 2019-2020 | 116th Congress

Status

Spectrum: Moderate Partisan Bill (Republican 5-1)
Status: Introduced on September 11 2019 - 25% progression
Action: 2019-09-11 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]

Summary

AGED Spirits Act Advancing Growth in the Economy through Distilled 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.

Tracking Information

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Title

AGED Spirits Act Advancing Growth in the Economy through Distilled Spirits Act

Sponsors


History

DateChamberAction
2019-09-11HouseReferred to the House Committee on Ways and Means.
2019-09-11HouseIntroduced in House

Same As/Similar To

SB2251 (Same As) 2019-07-24 - Read twice and referred to the Committee on Finance. (text: CR S5064)

Subjects


US Congress State Sources


Bill Comments

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