Sec. 138515. Cover over of certain distilled spirits taxes
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/bill/117/hr/5376/rh/section-138515·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 7652 is amended by striking subsection
(f)and by redesignating subsections
(g)and
(h)as subsections
(f)and (g), respectively. The amendments made by this subsection shall apply to distilled spirits brought into the United States after December 31, 2021. Section 7652(a) is amended by adding at the end the following new paragraph: From any taxes collected on rum transported to the United States that are covered into the treasury of Puerto Rico under paragraph
(3)at a rate equal to or greater than $10.50 per proof gallon, Puerto Rico shall transfer to the Puerto Rico Conservation Trust Fund an amount per proof gallon equal to or greater than 1/6 of the difference between $10.50 and the rate, not to exceed $13.25, at which such taxes are covered into such treasury. Puerto Rico’s obligations under this paragraph shall not modify or impair payment priorities established under Puerto Rico law and in effect on May 21, 2021. For purposes of this section, the term Puerto Rico Conservation Trust Fund means the fund established pursuant to a Memorandum of Understanding between the United States Department of the Interior and the Commonwealth of Puerto Rico, dated December 24, 1968. . Section 7652(h), as amended by subsections
(a)and (c), is amended by inserting (a)(4), after (a)(3), . The amendments made by this subsection shall apply to distilled spirits brought into the United States after December 31, 2021. Section 7652 , as amended by subsection (a), is amended by inserting after subsection
(g)the following new subsection: For purposes of subsections (a)(3), (b)(3), and (e)(1), refunds under section 5001(c)(4) shall not be taken into account as a refund, and the amount of taxes imposed and collected under section 5001(a)(1) shall be determined without regard to section 5001(c). . The amendment made by paragraph
(1)shall take effect as if included in section 13807 of Public Law 116–260 . Section 7652(e) is amended by striking paragraph (5). The amendment made by this subparagraph shall take effect as if included in section 13807 of Public Law 115–97 . Section 7652 is amended by striking subsection (i). The amendment made by this subparagraph shall take effect as if included in section 107 of Public Law 116–260 .
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Sec. 138515
Cover over of certain distilled spirits taxes
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