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To amend the Internal Revenue Code of 1986 to classify qualified energy-efficient draft alcohol property as 15-year property for purposes of depreciation.
Summary
The bill amends the Internal Revenue Code to allow restaurant and bar owners to depreciate certain draft alcohol equipment over 15 years for tax purposes. Specifically, it classifies stainless steel or aluminum containers and commercial tap equipment used for distributing and selling alcohol as 15-year property for depreciation. The provision applies to equipment placed in service after December 31, 2025. The Treasury Department is directed to issue guidance on implementation, including rules for equipment that is rented or leased rather than owned.
AI-generated plain-language summary of the bill text — neutral, and may be imperfect. See the full text below for the exact wording.
Sponsor (1)
- Sen. Sheehy, Tim [R-MT] (R-MT)
1 cosponsor
Actions (2)
- Jun 4, 2026 Read twice and referred to the Committee on Finance. · senate
- Jun 4, 2026 Introduced in Senate
Similar bills (6)
Bills with similar text or summary — includes reintroductions across Congresses. Ranked by semantic similarity of the bill text (computed locally); a neutral discovery aid, not a claim the bills are duplicates.
Full text
IN THE SENATE OF THE UNITED STATES
June 4, 2026
Mr. Sheehy (for himself and Ms. Hassan) introduced the following bill; which was read twice and referred to the Committee on Finance
A BILL
To amend the Internal Revenue Code of 1986 to classify qualified energy-efficient draft alcohol property as 15-year property for purposes of depreciation.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the “Creating Hospitality Economic Enhancement for Restaurants and Servers Act of 2026” or the “CHEERS Act of 2026”.
SEC. 2. CLASSIFICATION OF QUALIFIED ENERGY-EFFICIENT DRAFT ALCOHOL PROPERTY AS 15-YEAR PROPERTY FOR PURPOSES OF DEPRECIATION.
(a) Classification as 15-Year Property.—Section 168(e)(3)(E) of the Internal Revenue Code of 1986 is amended by striking “and” at the end of clause (vi), by striking the period at the end of clause (vii) and inserting “, and”, and by adding at the end the following new clause:
“(viii) any qualified energy-efficient draft alcohol property.”.
(b) Definition of Qualified Energy-Efficient Draft Alcohol Property.—Section 168(i) of such Code is amended by adding at the end the following new paragraph:
“(20) Qualified energy-efficient draft alcohol property.— The term ‘qualified energy-efficient draft alcohol property’ means any property—
“(A) which is installed on or in any building which is located in the United States,
“(B) which is principally used in the conduct of a trade or business of operating a restaurant, bar, or entertainment venue, and
“(C) which is a stainless steel or aluminum container or related commercial tap equipment used for the distribution and sale of alcohol.”.
(c) Effective Date.—The amendments made by subsections (a) and (b) shall apply to property placed in service after December 31, 2025.
(d) Regulatory Authority.—The Secretary of the Treasury shall prescribe such regulations or other guidance as may be necessary or appropriate to carry out the purposes of the amendments made by subsections (a) and (b), including to provide for the appropriate application of section 168 of the Internal Revenue Code of 1986 with respect to taxpayers who rent or lease qualified energy-efficient draft alcohol property (as defined in section 168(i)(20) of the Internal Revenue Code of 1986). <all>
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