[Congressional Record Volume 165, Number 125 (Wednesday, July 24, 2019)]
[Senate]
[Page S5064]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

      By Mr. McCONNELL (for himself and Mr. Paul):
  S. 2251. A bill to permanently extend the exemption for the aging 
process of distilled spirits from the production period for purposes of 
capitalization of interest costs; to the Committee on Finance.
  Mr. McCONNELL. Mr. President, I ask unanimous consent that the text 
of the bill be printed in the Record.
  There being no objection, the text of the bill was ordered to be 
printed in the Record, as follows:

                                S. 2251

       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 ``Advancing Growth in the 
     Economy through Distilled Spirits Act'' or the ``AGED Spirits 
     Act''.

     SEC. 2. PRODUCTION PERIOD OF DISTILLED SPIRITS.

       (a) In General.--Subparagraph (B) of section 263A(f)(4) of 
     the Internal Revenue Code of 1986 is amended to read as 
     follows:
       ``(B) Termination.--Clauses (i) and (ii) of subparagraph 
     (A) shall not apply to interest costs paid or accrued after 
     December 31, 2019.''.
       (b) Effective Date.--The amendment made by this section 
     shall apply to interest costs paid or accrued after December 
     31, 2019.
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