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Repealing Tax Limit on Spirits Revenue for Puerto Rico and Virgin Islands.

This bill removes the federal cap on the amount of excise tax collected on distilled spirits that is returned (covered over) to the governments of Puerto Rico and the Virgin Islands. This change ensures these territories receive the full amount of collected taxes, significantly boosting their local budgets. Increased revenue can be used to fund essential public services and infrastructure for residents.
Key points
Full Tax Return: The governments of Puerto Rico and the Virgin Islands will now receive 100% of the federal excise tax collected on spirits imported from their territories.
Increased Local Funding: This provides the territories with higher, more stable revenue streams, which can be used to finance local schools, roads, and other critical public services.
Retroactive Effect: The changes apply to distilled spirits brought into the United States after December 31, 2021.
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Additional Information
Print number: 118_HR_1028
Sponsor: Del. Plaskett, Stacey E. [D-VI-At Large]
Process start date: 2023-02-14
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Summarized by: gemini-flash-latest
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

To amend the Internal Revenue Code of 1986 to repeal the limitation on the cover over of distilled spirits taxes to the Virgin Islands and Puerto Rico.

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_1028.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2023-02-14.

What are the main provisions?

Key points include:

  • Full Tax Return: The governments of Puerto Rico and the Virgin Islands will now receive 100% of the federal excise tax collected on spirits imported from their territories.
  • Increased Local Funding: This provides the territories with higher, more stable revenue streams, which can be used to finance local schools, roads, and other critical public services.
  • Retroactive Effect: The changes apply to distilled spirits brought into the United States after December 31, 2021.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Del. Plaskett, Stacey E. [D-VI-At Large].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-30.

CATEGORIES

Taxes