[Congressional Bills 114th Congress]
[From the U.S. Government Publishing Office]
[S. 904 Placed on Calendar Senate (PCS)]
Calendar No. 38
114th CONGRESS
1st Session
S. 904
[Report No. 114-15]
To amend the Internal Revenue Code of 1986 to remove bond requirements
and extend filing periods for certain taxpayers with limited excise tax
liability.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
April 14, 2015
Mr. Hatch, from the Committee on Finance, reported the following
original bill; which was read twice and placed on the calendar
_______________________________________________________________________
A BILL
To amend the Internal Revenue Code of 1986 to remove bond requirements
and extend filing periods for certain taxpayers with limited excise tax
liability.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Craft Beverage Bond Simplification
Act of 2015''.
SEC. 2. REMOVAL OF BOND REQUIREMENTS AND EXTENDING FILING PERIODS FOR
CERTAIN TAXPAYERS WITH LIMITED EXCISE TAX LIABILITY.
(a) Filing Requirements.--Paragraph (4) of section 5061(d) of the
Internal Revenue Code of 1986 is amended--
(1) in subparagraph (A)--
(A) by striking ``In the case of'' and inserting
the following:
``(i) More than $1,000 and not more than
$50,000 in taxes.--Except as provided in clause
(ii), in the case of'',
(B) by striking ``under bond for deferred
payment'', and
(C) by adding at the end the following new clause:
``(ii) Not more than $1,000 in taxes.--In
the case of any taxpayer who reasonably expects
to be liable for not more than $1,000 in taxes
imposed with respect to distilled spirits,
wines, and beer under subparts A, C, and D and
section 7652 for the calendar year and who was
liable for not more than $1,000 in such taxes
in the preceding calendar year, the last day
for the payment of tax on withdrawals,
removals, and entries (and articles brought
into the United States from Puerto Rico) shall
be the 14th day after the last day of the
calendar year.'', and
(2) in subparagraph (B)--
(A) by striking ``Subparagraph (A)'' and inserting
the following:
``(i) Exceeds $50,000 limit.--Subparagraph
(A)(i)'', and
(B) by adding at the end the following new clause:
``(ii) Exceeds $1,000 limit.--Subparagraph
(A)(ii) shall not apply to any taxpayer for any
portion of the calendar year following the
first date on which the aggregate amount of tax
due under subparts A, C, and D and section 7652
from such taxpayer during such calendar year
exceeds $1,000, and any tax under such subparts
which has not been paid on such date shall be
due on the 14th day after the last day of the
calendar quarter in which such date occurs.''.
(b) Bond Requirements.--
(1) In general.--Section 5551 of such Code is amended--
(A) in subsection (a), by striking ``No
individual'' and inserting ``Except as provided under
subsection (d), no individual'', and
(B) by adding at the end the following new
subsection:
``(d) Removal of Bond Requirements.--
``(1) In general.--During any period to which subparagraph
(A) of section 5061(d)(4) applies to a taxpayer (determined
after application of subparagraph (B) thereof), such taxpayer
shall not be required to furnish any bond covering operations
or withdrawals of distilled spirits, wines, or beer.
``(2) Satisfaction of bond requirements.--Any taxpayer for
any period described in paragraph (1) shall be treated as if
sufficient bond has been furnished for purposes of covering
operations and withdrawals of distilled spirits, wines, or beer
for purposes of any requirements relating to bonds under this
chapter.''.
(2) Conforming amendments.--
(A) Bonds for distilled spirits plants.--Section
5173(a) of such Code is amended--
(i) in paragraph (1), by striking ``No
person'' and inserting ``Except as provided
under section 5551(d), no person'', and
(ii) in paragraph (2), by striking ``No
distilled spirits'' and inserting ``Except as
provided under section 5551(d), no distilled
spirits''.
(B) Bonded wine cellars.--Section 5351 of such Code
is amended--
(i) by striking ``Any person'' and
inserting the following:
``(a) In General.--Any person'',
(ii) by inserting ``, except as provided
under section 5551(d),'' before ``file bond'',
(iii) by striking ``Such premises shall''
and all that follows through the period, and
(iv) by adding at the end the following new
subsection:
``(b) Definitions.--For purposes of this chapter--
``(1) Bonded wine cellar.--The term `bonded wine cellar'
means any premises described in subsection (a), including any
such premises established by a taxpayer described in section
5551(d).
``(2) Bonded winery.--At the discretion of the Secretary,
any bonded wine cellar that engages in production operations
may be designated as a `bonded winery'.''.
(C) Bonds for breweries.--Section 5401 of such Code
is amended by adding at the end the following new
subsection:
``(c) Exception From Bond Requirements for Certain Breweries.--
Subsection (b) shall not apply to any taxpayer for any period described
in section 5551(d).''.
(c) Effective Date.--The amendments made by this section shall take
effect on the date that is 90 days after the date of the enactment of
this Act.
Calendar No. 38
114th CONGRESS
1st Session
S. 904
[Report No. 114-15]
_______________________________________________________________________
A BILL
To amend the Internal Revenue Code of 1986 to remove bond requirements
and extend filing periods for certain taxpayers with limited excise tax
liability.
_______________________________________________________________________
April 14, 2015
Read twice and placed on the calendar