Craft Beverage Modernization and Tax Reform Act of 2015
Latest action · Jun 11, 2015 Read twice and referred to the Committee on Finance.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedJun 11, 2015
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Craft Beverage Modernization and Tax Reform Act of 2015
Amends the Internal Revenue Code to:
- allow taxpayers who are liable for not more than $50,000 per year in excise taxes on distilled spirits, wine, or beer to file and pay such taxes quarterly without the requirement of posting a bond covering the operations and withdrawals of such distilled spirits, wines, or beer;
- allow such taxpayers who reasonably expect to have a tax liability of not more than $1,000 per year and who were liable for not more than $1,000 in taxes in the preceding calendar year to file and pay such taxes annually rather than quarterly;
- exclude the aging period from the production period for beer, wine, or distilled spirits for purposes of determining whether a taxpayer can expense, rather than capitalize, interest costs paid or incurred during the production period;
- reduce excise tax rates on beer, wine, and distilled spirits produced in the United States;
- permit the transfer of beer between bonded facilities without payment of tax;
- modify the definition of "hard cider" for excise tax purposes; and
- exempt home distillery establishments that produce distilled spirits solely for personal or family use from excise tax and bonding requirements.
Directs the Department of the Treasury to amend applicable Treasury regulations with respect to the use of wholesome products suitable for human consumption in the production of fermented beverages.
Amends the Balanced Budget and Emergency Deficit Control Act of 1985 to establish funding levels in FY2016-FY2021 for the enforcement and compliance activities of the Alcohol and Tobacco Tax and Trade Bureau.
Cosponsors 51
Members who signed on, in the order they did. Signatures ran from Jul 7, 2015 to Sep 27, 2016.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| R-CO | Cory Gardner | Jul 7, 2015 | |
| R-MO | Roy Blunt | Jul 7, 2015 | |
| D-WI | Tammy Baldwin | Jul 7, 2015 | |
| D-NH | Jeanne Shaheen | Jul 8, 2015 | |
| R-KS | Jerry Moran | Jul 8, 2015 | |
| R-NH | Kelly Ayotte | Jul 8, 2015 | |
| D-CO | Michael F. Bennet | Jul 8, 2015 | |
| R-LA | David Vitter | Jul 30, 2015 | |
| R-IL | Mark Kirk | Jul 30, 2015 | |
| R-WV | Shelley Moore Capito | Jul 30, 2015 | |
| D-MI | Gary C. Peters | Aug 5, 2015 | |
| D-OR | Jeff Merkley | Aug 5, 2015 | |
| D-HI | Mazie K. Hirono | Aug 5, 2015 | |
| R-KS | Pat Roberts | Aug 5, 2015 | |
| R-AK | Lisa Murkowski | Sep 8, 2015 |
Actions 2
Everything that happened, newest first.
- Jun 11, 2015Introduced in Senate
- Jun 11, 2015Read twice and referred to the Committee on Finance.
Related bills 6
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| S 904 | Craft Beverage Bond Simplification Act of 2015 | Related bill | Apr 14, 2015 |
| S 906 | Cider Investment and Development through Excise Tax Reduction (CIDER) Act | Related bill | Apr 14, 2015 |
| S 1444 | Distillery Excise Tax Reform Act of 2015 | Related bill | May 21, 2015 |
| S 1459 | Cider Investment and Development through Excise Tax Reduction (CIDER) Act | Related bill | May 22, 2015 |
| HR 2238 | Craft Beverage Bond Simplification Act of 2015 | Related bill | May 5, 2015 |
Subjects
Assigned by the Library of Congress. Policy area: Taxation.
Text 1
Each version as it was printed, newest first.
- Jun 11, 2015Introduced in Senate
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.