II 110th CONGRESS 1st Session S. 998 IN THE SENATE OF THE UNITED STATES March 27, 2007 Mr. Bunning introduced the following bill; which was read twice and referred to the Committee on Finance A BILL To exempt the natural aging process in the determination of the production period for distilled spirits under section 263A of the Internal Revenue Code of 1986.

1.

Exemption of natural aging process in determination of production period for distilled spirits under Section 263A

(a)

In general

Section 263A(f) of the Internal Revenue Code of 1986 (relating to general exceptions) is amended by adding at the end the following new paragraph: (5)

Exemption of natural aging process in determination of production period for distilled spirits

For purposes of this subsection, the production period for distilled spirits shall be determined without regard to any period allocated to the natural aging process. . (b)

Effective date

The amendment made by this section shall apply to production periods beginning after the date of the enactment of this Act.