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

This bill keeps a higher limit on how much federal tax money from distilled spirits can be transferred to Puerto Rico and the U.S. Virgin Islands. It does this by changing the end date from January 1, 2022, to January 1, 2032, effectively extending the higher limit for ten more years.

Key points:

• Who is affected: Puerto Rico and the U.S. Virgin Islands, in relation to transfers of distilled spirits tax money.
• What changes: The temporary increase in the limit on these transfers is extended by updating the date to January 1, 2032.
• When: Applies to distilled spirits brought into the United States after December 31, 2021.