,,ii  #aaith ,,congress  #ast ,session  
,s4 #aich  ,,in ,,the ,,senate ,,of     
,,the ,,united ,,states  ,june #d1 #bjbe
 ,mr4 ,cassidy 7for himself1 ,mrs4      
,gillibrand1 ,mr4 ,wicker1 and ,mr4     
,lujn7 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 modify the cover over of       
certain distilled spirits taxes4  #a4   
,cover over of certain distilled spirits
 taxes  7a7  ,repeal of limitation on   
cover over of distilled spirits taxes to
 ,puerto ,rico and ,virgin ,islands     
7#a7  ,in general  ,section #gfeb of the
 ,internal ,revenue ,code of #aihf is   
amended by striking subsection 7f74     
7#b7  ,conforming amendment  ,section   
#gfeb7;g77#a7 of such ,code is amended--
  7,a7 by striking subparagraph 7,b71   
and  7,b7 by striking as if-- and all   
that follows through the use and tax and
 inserting as if the use and tax4  7#c7 
,effective date  ,the amendments made by

 this subsection shall apply to articles
 brought into the ,united ,states after 
,december #ca1 #bjba4  7b7  ,required   
transfer to ,puerto ,rico ,conservation 
,trust ,fund of portion of ,puerto ,rico
 rum cover over  7#a7  ,in general      
,section #gfeb7;a7 of the ,internal     
,revenue ,code of #aihf is amended by   
adding at the end the following new     
paragraph3  7#d7  ,required transfer to 
puerto rico conservation trust fund of  
portion of rum taxes covered over  7,a7 
,in general  ,from any taxes collected  
on rum transported to the ,united       
,states that are covered into the       
treasury of ,puerto ,rico under         
paragraph 7#c7 at a rate equal to or    
greater than #aj4ej per proof gallon1   
,puerto ,rico shall transfer to the     
,puerto ,rico ,conservation ,trust ,fund
 an amount per proof gallon equal to or 
greater than #a_/f of the difference    
between #aj4ej and the rate1 not to     
exceed #ac4be1 at which such taxes are  
covered into such treasury4 ,puerto     

,rico's obligations under this paragraph
 shall not modify or impair payment     
priorities established under ,puerto    
,rico law and in effect on ,december    
#ca1 #bjbb 4  7,b7  ,puerto ,rico       
conservation trust fund  ,for purposes  
of this section1 the term ,puerto ,rico 
,conservation ,trust ,fund means the    
fund which--  7i7 was established       
pursuant to a ,memorandum of            
,understanding between the ,united      
,states ,department of the ,interior and
 the ,commonwealth of ,puerto ,rico1    
dated ,december #bd1 #aifh1 and  7ii7   
provides for the conservation of natural
 areas in ,puerto ,rico1 including      
through sustainable agriculture efforts 
and the reforestation and restoration of
 ,puerto ,rico's natural habitats4  4   
7#b7  ,cover over determined without    
regard to certain rate reductions       
,section #gfeb7;i7 of such ,code1 as    
amended by subsection 7c71 is amended by
 inserting 7a77#d71 after 7a77#c714     
7#c7  ,effective date  ,the amendments  

made by this subsection shall apply to  
distilled spirits brought into the      
,united ,states after ,december #ca1    
#bjba4  7c7  ,retroactive application of
 rules relating to determination of     
cover over  ,notwithstanding section    
#ajg7;a77#c7 of division ,,ee of ,public
 ,law #aaf-bfj-- 7#a7 the amendments    
made by section #ajg7;a77#b77;,a7       
thereof shall take effect as if included
 in section #achjg of ,public ,law      
#aae-ig1 and  7#b7 the amendments made  
by section #ajg7;a77#b77;,b7 thereof    
shall take effect as if included in     
section #daajb of ,public ,law #aae-abc4