H.R. 10079
Beverage Regulatory Parity Act
Sponsor: Beth Van Duyne
4 cosponsors
Official summary
No official summary yet.
Text of the bill
(a) In general. Subtitle E of the Internal Revenue Code of 1986 is amended by adding at the end the following new chapter:
56 Hemp-derived beverages
5901. Imposition of tax
(a) In general. There is hereby imposed a tax on any hemp-derived beverage produced in the United States.
(b) Amount of tax. The amount of tax imposed by subsection (a) shall, with respect to any hemp-derived beverage, be equal to 8 cents per milligram of intoxicating tetrahydrocannabinol content within such beverage.
(c) Time of attachment. The tax imposed by subsection (a) shall be determined as of the time of removal for consumption or sale from the premises of the manufacturer.
(d) Definitions. Any term used in this section which is also used in section 4(l) of the Beverage Regulatory Parity Act shall have the same meaning as when used in such Act.
(e) Method of collection. The tax imposed by subsection (a) shall be collected, pursuant to regulations prescribed by the Secretary, in a manner similar to that of section 5061.
(b) Clerical amendment. The table of chapters for subtitle E of such Code is amended by adding at the end the following new item:
Chapter 56. Hemp-derived beverages.
(c) Effective date. The amendments made by this section shall apply with respect to hemp-derived beverages produced after the date of the enactment of this Act.