S 3101
A bill to amend the Internal Revenue Code of 1986 to repeal the limitation on the cover over of distilled spirits taxes to Puerto Rico and the Virgin Islands and to transfer a portion of such cover over to the Puerto Rico Conservation Trust Fund.
Take action
Record your position on this measure.
Sign in to record your position, submit testimony, or contact your legislator.
Sign in to take action- Introduced
- Passed Senate
- Passed House
- To President
- Became Law
Bill overview
This bill modifies the Internal Revenue Code to change how taxes on distilled spirits, particularly rum, are handled for Puerto Rico and the Virgin Islands. Specifically, it removes a previous limitation on the amount of these taxes that could be ‘covered over’ (paid) to the local treasuries. A portion of this previously required ‘cover over’ payment will then be transferred to the Puerto Rico Conservation Trust Fund. This shift aims to provide additional funding for conservation efforts in Puerto Rico.
Sponsors
Official sponsors from legislative records.
Primary sponsor
Cosponsors
Arguments in favor
Reasons to support this legislation.
No arguments in favor have been submitted.
Submit yoursArguments opposed
Reasons to oppose this legislation.
No arguments opposed have been submitted.
Submit yoursRead the latest version inline or switch to a previous version.