S 1938
A bill to amend the Internal Revenue Code of 1986 to modify the cover over of certain distilled spirits taxes.
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Sign in to take action- Introduced
- Passed Senate
- Passed House
- To President
- Became Law
Bill overview
This bill modifies the rules for ‘cover over,’ a tax mechanism used on imported distilled spirits. Specifically, it removes a restriction that previously limited the cover over of these taxes to Puerto Rico and the U.S. Virgin Islands. Furthermore, it establishes a requirement for Puerto Rico to transfer a portion of the rum cover over taxes collected into a conservation trust fund dedicated to preserving natural areas on the island. The changes apply to spirits brought into the United States after December 31, 2021.
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