CHEERS Act

Hozzl · 2024-04-04T12:00:21Z

Explore the details of House Bill 7577 CHEERS Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Taxation. Stay informed on legislative developments.

4/4/2024, 12:00 PM

Congressional Summary of HR 7577

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.

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Current Status of Bill HR 7577

Bill HR 7577 is currently in the status of Bill Introduced since March 7, 2024. Bill HR 7577 was introduced during Congress 118 and was introduced to the House on March 7, 2024. Bill HR 7577's most recent activity was Referred to the House Committee on Ways and Means. as of March 7, 2024

Bipartisan Support of Bill HR 7577

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill HR 7577

Primary Policy Focus

Taxation

Alternate Title(s) of Bill HR 7577

CHEERS ActTo 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.CHEERS ActCreating Hospitality Economic Enhancement for Restaurants and Servers Act

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