3.0.0 4284 2022-11-01T13:50:04Z 2022-11-01T13:50:04Z House HR 2019-09-11 116 [Congressional Record Volume 165, Number 145 (Wednesday, September 11, 2019)][House]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. YARMUTH:H.R. 4284.Congress has the power to enact this legislation pursuantto the following:Article I, Section 8 of the Constitution of the UnitedStates[Page H7665]]]> hswm00 Ways and Means Committee House Standing Referred to 2019-09-11T14:01:40Z AGED Spirits Act 116 2251 S 2019-07-24 Read twice and referred to the Committee on Finance. (text: CR S5064) Identical bill CRS 2019-09-11 Referred to the House Committee on Ways and Means. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2019-09-11 Introduced in House IntroReferral Intro-H 9 Library of Congress 2019-09-11 Introduced in House IntroReferral 1000 9 Library of Congress Y000062 Rep. Yarmuth, John A. [D-KY-3] John Yarmuth D KY A. 3 N B001282 Rep. Barr, Andy [R-KY-6] Andy Barr R KY 6 2019-09-11 True G000558 Rep. Guthrie, Brett [R-KY-2] Brett Guthrie R KY 2 2019-09-11 True C001108 Rep. Comer, James [R-KY-1] James Comer R KY 1 2019-09-11 True R000395 Rep. Rogers, Harold [R-KY-5] HAROLD ROGERS R KY 5 2019-09-11 True M001184 Rep. Massie, Thomas [R-KY-4] Thomas Massie R KY 4 2019-09-11 True Taxation Alcoholic beverages Business investment and capital Income tax deductions Interest, dividends, interest rates Taxation 00 2019-09-11 Introduced in House 2019-09-19T13:44:25Z Advancing Growth in the Economy through Distilled Spirits Act or the AGED Spirits Act

This bill amends the Internal Revenue Code to exclude, after 2019, the aging period from the production period for distilled spirits, for purposes of determining whether a taxpayer can expense, rather than capitalize, interest costs paid or incurred during the production period. This allows producers of distilled spirits to deduct interest expense associated with production in the year it is paid.

]]> AGED Spirits Act Display Title AGED Spirits Act Official Title as Introduced To permanently extend the exemption for the aging process of distilled spirits from the production period for purposes of capitalization of interest costs. Introduced in House IH Short Title(s) as Introduced AGED Spirits Act Introduced in House IH Short Title(s) as Introduced Advancing Growth in the Economy through Distilled Spirits Act Introduced in House IH Introduced in House 2019-09-11T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116hr4284ih/xml/BILLS-116hr4284ih.xml 2019-09-11 Referred to the House Committee on Ways and Means. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.