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II
116TH CONGRESS
1ST SESSION
S. 2251
To permanently extend the exemption for the aging process of distilled spirits
from the production period for purposes of capitalization of interest costs.
IN THE SENATE OF THE UNITED STATES
JULY 24, 2019
Mr. MCCONNELL (for himself and Mr. PAUL) introduced the following bill;
which was read twice and referred to the Committee on Finance
A BILL
To permanently extend the exemption for the aging process
of distilled spirits from the production period for pur-
poses of capitalization of interest costs.
Be it enacted by the Senate and House of Representa-
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tives of the United States of America in Congress assembled,
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SECTION 1. SHORT TITLE.
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This Act may be cited as the ‘‘Advancing Growth in
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the Economy through Distilled Spirits Act’’ or the
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‘‘AGED Spirits Act’’.
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SEC. 2. PRODUCTION PERIOD OF DISTILLED SPIRITS.
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(a) IN GENERAL.—Subparagraph (B) of section
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263A(f)(4) of the Internal Revenue Code of 1986 is
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amended to read as follows:
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•S 2251 IS
‘‘(B) TERMINATION.—Clauses (i) and (ii)
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of subparagraph (A) shall not apply to interest
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costs paid or accrued after December 31,
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2019.’’.
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(b) EFFECTIVE DATE.—The amendment made by
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this section shall apply to interest costs paid or accrued
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after December 31, 2019.
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