CHEERS Act

4/4/2024, 12:00 PM

Creating Hospitality Economic Enhancement for Restaurants and Servers Act or the CHEERS Act

This bill treats qualified energy-efficient draft property (energy efficient kegs) as energy efficient commercial building property for purposes of the tax deduction for energy efficient commercial buildings. It defines qualified energy-efficient draft property as property that is principally used in the trade or business of operating a restaurant, bar, or entertainment venue, and that is a stainless steel or aluminum container or related commercial tap equipment used to distribute or sell alcohol.

Congress
118

Number
HR - 7577

Introduced on
2024-03-07

# Amendments
0

Sponsors
+5

Cosponsors
+5

Variations and Revisions

3/7/2024

Status of Legislation

Bill Introduced
Introduced to House
House to Vote
Introduced to Senate
Senate to Vote

Purpose and Summary

Creating Hospitality Economic Enhancement for Restaurants and Servers Act or the CHEERS Act

This bill treats qualified energy-efficient draft property (energy efficient kegs) as energy efficient commercial building property for purposes of the tax deduction for energy efficient commercial buildings. It defines qualified energy-efficient draft property as property that is principally used in the trade or business of operating a restaurant, bar, or entertainment venue, and that is a stainless steel or aluminum container or related commercial tap equipment used to distribute or sell alcohol.

Alternative Names
Official Title as IntroducedTo amend the Internal Revenue Code of 1986 to treat energy efficient kegs as efficient commercial building property for purposes of the energy efficient commercial buildings deduction.

Policy Areas
Taxation

Comments

Recent Activity

Latest Summary4/4/2024

Creating Hospitality Economic Enhancement for Restaurants and Servers Act or the CHEERS Act

This bill treats qualified energy-efficient draft property (energy efficient kegs) as energy efficient commercial building prope...


Latest Action3/7/2024
Referred to the House Committee on Ways and Means.