,,ii  #aafth ,,congress  #ast ,session  
,s4 #caja  ,,in ,,the ,,senate ,,of     
,,the ,,united ,,states  ,december #ah1 
#bjai,mr4 ,menendez 7for himself and    
,mr4 ,crapo7 introduced the following   
bill2 which was read twice and referred 
to the ,committee on ,finance  ,a ,,bill
  ,to amend the ,internal ,revenue ,code
 of #aihf to repeal the limitation on   
the cover over of distilled spirits     
taxes to ,puerto ,rico and the ,virgin  
,islands and to transfer a portion of   
such cover over to the ,puerto ,rico    
,conservation ,trust ,fund4  #a4 ,repeal
 of limitation on cover over of         
distilled spirits taxes to ,puerto ,rico
 and the ,virgin ,islands  7a7 ,in      
general ,section #gfeb of the ,internal 
,revenue ,code of #aihf is amended by   
striking subsection 7f7 and by          
redesignating subsections 7g7 and 7h7 as
 subsections 7f7 and 7g71 respectively4 
7b7 ,effective date ,the amendments made
 by this section shall apply to         
distilled spirits brought into the      

,united ,states after ,december #ca1    
#bjah4  #b4 ,transfer to ,puerto ,rico  
,conservation ,trust ,fund of portion of
 ,puerto ,rico rum cover over  7a7 ,in  
general ,section #gfeb7;e7 of the       
,internal ,revenue ,code of #aihf is    
amended by redesignating paragraphs     
7#c71 7#d71 and 7#e7 as paragraphs 7#d71
 7#e71 and 7#f71 respectively1 and by   
inserting after paragraph 7#b7 the      
following new paragraph3  7#b7 ,transfer
 to ,puerto ,rico ,conservation ,trust  
,fund of portion of rum cover over  7,a7
 ,in general ,from any amount otherwise 
required to be covered over to the      
treasury of ,puerto ,rico under this    
section with respect to taxes collected 
on rum under section #ejja7;a77#a7 or   
subsection 7a71 the ,secretary of the   
,treasury shall transfer to the ,puerto 
,rico ,conservation ,trust ,fund an     
amount equal to #j4df per proof gallon  
of rum to which such cover over is      
attributable4 ,any amount transferred   
under the preceding sentence shall be   

treated for purposes of this section    
7other than this paragraph7 as having   
been covered over to the treasury of    
,puerto ,rico4  7,b7 ,puerto ,rico      
,conservation ,trust ,fund ,for purposes
 of this section1 the term ,puerto ,rico
 ,conservation ,trust ,fund means the   
fund established pursuant to a          
,memorandum of ,understanding between   
the ,united ,states ,department of the  
,interior and the ,commonwealth of      
,puerto ,rico1 dated ,december #bd1     
#aifh4  4  7b7 ,effective date ,the     
amendments made by this section shall   
apply to rum brought into the ,united   
,states after ,december #ca1 #bjah4