US Congress Senate Bill 986 (Prior Session Legislation)

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Sponsorship: Slight Partisan Bill (Democrat 2-1)
Status: Introduced on May 12 2011 - 25% progression, died in committee
Action: 2011-05-12 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]

Investing in U.S. Territories, Not Corporations Act of 2011 - Amends the Internal Revenue Code, with respect to shipments of rum to the United States from Puerto Rico and the Virgin Islands, to: (1) limit during a two-year period the amount of direct and indirect government assistance by the governments of Puerto Rico and the Virgin Islands to rum producers from rum excise taxes covered-over into the treasuries of such governments to 15% of the amounts covered-over, (2) impose limitations on the allocation of rum excise taxes between Puerto Rico and the Virgin Islands, and (3) deny any payment of rum excise taxes covered over into the treasuries of Puerto Rico and the Virgin Islands for rum redistilled into cane neutral spirits after being brought into the United States.

Investing in U.S. Territories, Not Corporations Act of 2011

Sen. Robert Menendez [D-NJ]

Sen. Bill Nelson [D-FL]

Sen. Marco Rubio [R-FL]

Date	Chamber	Action
2011-05-12	Senate	Read twice and referred to the Committee on Finance.

HB1883 (Same As) 2011-05-12 - Referred to the House Committee on Ways and Means.

Type	Source
Summary	https://www.congress.gov/bill/112th-congress/senate-bill/986/all-info
Text	https://www.congress.gov/112/bills/s986/BILLS-112s986is.pdf