H.R. 4284 — Introduced in House

I 116th CONGRESS 1st Session H. R. 4284 IN THE HOUSE OF REPRESENTATIVES September 11, 2019Mr. Yarmuth (for himself, Mr. Barr, Mr. Guthrie, Mr. Comer, Mr. Rogers of Kentucky, and Mr. Massie) introduced the following bill; which was referred to the Committee on Ways and Means 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. 1. Short title This Act may be cited as the Advancing Growth in the Economy through Distilled Spirits Act or the AGED Spirits Act. 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.