[Congressional Bills 114th Congress]
[From the U.S. Government Publishing Office]
[S. 904 Placed on Calendar Senate (PCS)]

                                                        Calendar No. 38
114th CONGRESS
  1st Session
                                 S. 904

                          [Report No. 114-15]

To amend the Internal Revenue Code of 1986 to remove bond requirements 
and extend filing periods for certain taxpayers with limited excise tax 
                               liability.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             April 14, 2015

   Mr. Hatch, from the Committee on Finance, reported the following 
     original bill; which was read twice and placed on the calendar

_______________________________________________________________________

                                 A BILL


 
To amend the Internal Revenue Code of 1986 to remove bond requirements 
and extend filing periods for certain taxpayers with limited excise tax 
                               liability.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Craft Beverage Bond Simplification 
Act of 2015''.

SEC. 2. REMOVAL OF BOND REQUIREMENTS AND EXTENDING FILING PERIODS FOR 
              CERTAIN TAXPAYERS WITH LIMITED EXCISE TAX LIABILITY.

    (a) Filing Requirements.--Paragraph (4) of section 5061(d) of the 
Internal Revenue Code of 1986 is amended--
            (1) in subparagraph (A)--
                    (A) by striking ``In the case of'' and inserting 
                the following:
                            ``(i) More than $1,000 and not more than 
                        $50,000 in taxes.--Except as provided in clause 
                        (ii), in the case of'',
                    (B) by striking ``under bond for deferred 
                payment'', and
                    (C) by adding at the end the following new clause:
                            ``(ii) Not more than $1,000 in taxes.--In 
                        the case of any taxpayer who reasonably expects 
                        to be liable for not more than $1,000 in taxes 
                        imposed with respect to distilled spirits, 
                        wines, and beer under subparts A, C, and D and 
                        section 7652 for the calendar year and who was 
                        liable for not more than $1,000 in such taxes 
                        in the preceding calendar year, the last day 
                        for the payment of tax on withdrawals, 
                        removals, and entries (and articles brought 
                        into the United States from Puerto Rico) shall 
                        be the 14th day after the last day of the 
                        calendar year.'', and
            (2) in subparagraph (B)--
                    (A) by striking ``Subparagraph (A)'' and inserting 
                the following:
                            ``(i) Exceeds $50,000 limit.--Subparagraph 
                        (A)(i)'', and
                    (B) by adding at the end the following new clause:
                            ``(ii) Exceeds $1,000 limit.--Subparagraph 
                        (A)(ii) shall not apply to any taxpayer for any 
                        portion of the calendar year following the 
                        first date on which the aggregate amount of tax 
                        due under subparts A, C, and D and section 7652 
                        from such taxpayer during such calendar year 
                        exceeds $1,000, and any tax under such subparts 
                        which has not been paid on such date shall be 
                        due on the 14th day after the last day of the 
                        calendar quarter in which such date occurs.''.
    (b) Bond Requirements.--
            (1) In general.--Section 5551 of such Code is amended--
                    (A) in subsection (a), by striking ``No 
                individual'' and inserting ``Except as provided under 
                subsection (d), no individual'', and
                    (B) by adding at the end the following new 
                subsection:
    ``(d) Removal of Bond Requirements.--
            ``(1) In general.--During any period to which subparagraph 
        (A) of section 5061(d)(4) applies to a taxpayer (determined 
        after application of subparagraph (B) thereof), such taxpayer 
        shall not be required to furnish any bond covering operations 
        or withdrawals of distilled spirits, wines, or beer.
            ``(2) Satisfaction of bond requirements.--Any taxpayer for 
        any period described in paragraph (1) shall be treated as if 
        sufficient bond has been furnished for purposes of covering 
        operations and withdrawals of distilled spirits, wines, or beer 
        for purposes of any requirements relating to bonds under this 
        chapter.''.
            (2) Conforming amendments.--
                    (A) Bonds for distilled spirits plants.--Section 
                5173(a) of such Code is amended--
                            (i) in paragraph (1), by striking ``No 
                        person'' and inserting ``Except as provided 
                        under section 5551(d), no person'', and
                            (ii) in paragraph (2), by striking ``No 
                        distilled spirits'' and inserting ``Except as 
                        provided under section 5551(d), no distilled 
                        spirits''.
                    (B) Bonded wine cellars.--Section 5351 of such Code 
                is amended--
                            (i) by striking ``Any person'' and 
                        inserting the following:
    ``(a) In General.--Any person'',
                            (ii) by inserting ``, except as provided 
                        under section 5551(d),'' before ``file bond'',
                            (iii) by striking ``Such premises shall'' 
                        and all that follows through the period, and
                            (iv) by adding at the end the following new 
                        subsection:
    ``(b) Definitions.--For purposes of this chapter--
            ``(1) Bonded wine cellar.--The term `bonded wine cellar' 
        means any premises described in subsection (a), including any 
        such premises established by a taxpayer described in section 
        5551(d).
            ``(2) Bonded winery.--At the discretion of the Secretary, 
        any bonded wine cellar that engages in production operations 
        may be designated as a `bonded winery'.''.
                    (C) Bonds for breweries.--Section 5401 of such Code 
                is amended by adding at the end the following new 
                subsection:
    ``(c) Exception From Bond Requirements for Certain Breweries.--
Subsection (b) shall not apply to any taxpayer for any period described 
in section 5551(d).''.
    (c) Effective Date.--The amendments made by this section shall take 
effect on the date that is 90 days after the date of the enactment of 
this Act.
                                                        Calendar No. 38

114th CONGRESS

  1st Session

                                 S. 904

                          [Report No. 114-15]

_______________________________________________________________________

                                 A BILL

To amend the Internal Revenue Code of 1986 to remove bond requirements 
and extend filing periods for certain taxpayers with limited excise tax 
                               liability.

_______________________________________________________________________

                             April 14, 2015

                 Read twice and placed on the calendar