H.R. 52

To amend the Internal Revenue Code of 1986 to repeal the cap on the cover over of tax on distilled spirits to Puerto Rico and the Virgin Islands.

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I

110th CONGRESS

1st Session

H. R. 52

IN THE HOUSE OF REPRESENTATIVES

January 4, 2007

Mrs. Christensen introduced the following bill; which was referred to the Committee on Ways and Means

A BILL

To amend the Internal Revenue Code of 1986 to repeal the cap on the cover over of tax on distilled spirits to Puerto Rico and the Virgin Islands.

1.

Repeal of cap on cover over of tax on distilled spirits to Puerto Rico and Virgin Islands

(a)

In general

Section 7652 of the Internal Revenue Code of 1986 (relating to limitation on cover over of tax on distilled spirits) is amended by striking subsection (f) and by redesignating subsections (g) and (h) as subsections (f) and (g), respectively.

(b)

Conforming amendment

Section 7652(f) of such Code (as so redesignated) is amended by striking subsection (f) of this section in paragraph (1)(B) and inserting section 5001(a)(1).

(c)

Effective date

The amendments made by this section shall take effect on January 1, 2007.