[Congressional Bills 108th Congress]
[From the U.S. Government Publishing Office]
[S. 1681 Introduced in Senate (IS)]
108th CONGRESS
1st Session
S. 1681
To exempt the natural aging process in the determination of the
production period for distilled spirits under section 263A of the
Internal Revenue Code of 1986.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
September 30 (legislative day, September 29), 2003
Mr. Bunning introduced the following bill; which was read twice and
referred to the Committee on Finance
_______________________________________________________________________
A BILL
To exempt the natural aging process in the determination of the
production period for distilled spirits under section 263A of the
Internal Revenue Code of 1986.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. EXEMPTION OF NATURAL AGING PROCESS IN DETERMINATION OF
PRODUCTION PERIOD FOR DISTILLED SPIRITS UNDER SECTION
263A.
(a) In General.--Section 263A(f) of the Internal Revenue Code of
1986 (relating to general exceptions) is amended by adding at the end
the following new paragraph:
``(5) Exemption of natural aging process in determination
of production period for distilled spirits.--For purposes of
this subsection, the production period for distilled spirits
shall be determined without regard to any period allocated to
the natural aging process.''.
(b) Effective Date.--The amendment made by this section shall apply
to production periods beginning after the date of the enactment of this
Act.
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