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Distilled Spirits Tax Changes: Increased Funds for Puerto Rico Conservation.

This law changes how federal taxes on distilled spirits (like rum) are transferred to Puerto Rico and the Virgin Islands by removing previous limitations. This means more tax revenue will flow directly into the treasuries of these territories. Crucially, Puerto Rico must now dedicate a portion of these increased rum tax revenues to a fund supporting environmental conservation, sustainable agriculture, and habitat restoration.
Key points
Removal of limits on the transfer of distilled spirits taxes, boosting the general revenues of Puerto Rico and the Virgin Islands.
Mandatory allocation of a portion of Puerto Rico's rum tax revenue to the Puerto Rico Conservation Trust Fund.
These funds are earmarked to support local environmental protection, reforestation, and sustainable agriculture efforts.
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Expired
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Additional Information
Print number: 118_S_1477
Sponsor: Sen. Menendez, Robert [D-NJ]
Process start date: 2023-05-09
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Summarized by: gemini-flash-latest
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

A bill to amend the Internal Revenue Code of 1986 to modify the cover over of certain distilled spirits taxes.

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_S_1477.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2023-05-09.

What are the main provisions?

Key points include:

  • Removal of limits on the transfer of distilled spirits taxes, boosting the general revenues of Puerto Rico and the Virgin Islands.
  • Mandatory allocation of a portion of Puerto Rico's rum tax revenue to the Puerto Rico Conservation Trust Fund.
  • These funds are earmarked to support local environmental protection, reforestation, and sustainable agriculture efforts.
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 Sen. Menendez, Robert [D-NJ].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

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

CATEGORIES

Taxes Environment Economy