,,ii  #aacth ,,congress  #ast ,session  
,s4 #adeg  ,,in ,,the ,,senate ,,of     
,,the ,,united ,,states  ,august #a1    
#bjac ,mr4 ,mc,connell 7for himself and 
,mr4 ,paul7 introduced the following    
bill2 which was read twice and referred 
to the ,committee on ,finance  ,a ,,bill
  ,to exempt the aging process of       
distilled spirits from the production   
period for purposes of capitalization of
 interest costs4  #a4 ,short title ,this
 ,act may be cited as the ,aged         
,distilled ,spirits ,competitiveness    
,act4  #b4 ,production period of        
distilled spirits  7a7 ,in general      
,section #bfc;,a7f7 of the ,internal    
,revenue ,code of #aihf is amended--    
7#a7 by redesignating paragraph 7#d7 as 
paragraph 7#e71 and  7#b7 by inserting  
after paragraph 7#c7 the following new  
paragraph3  7#d7 ,exemption for aging   
process of distilled spirits ,for       
purposes of this subsection1 the        
production period shall not include the 
aging period for distilled spirits 7as  

described in section #ejjb7;a77#h774  4 
7b7 ,effective date ,the amendments made
 by this section shall apply to the     
production of distilled spirits that    
begins on or after the date of the      
enactment of this ,act4