II
109th CONGRESS
1st Session
S. 1027
IN THE SENATE OF THE UNITED STATES
May 12, 2005
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.
Exemption of natural aging process in determination of production period for distilled spirits under Section 263A
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:
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.
.
Effective date
The amendment made by this section shall apply to production periods beginning after the date of the enactment of this Act.