IA HSB690

Reduces the beer barrel tax from $5.89 to $1.86 per 31-gallon barrel for beer manufactured in American breweries (defined as land and buildings in the United States where beer is manufactured and stored)

Maintains the current $5.89 per 31-gallon barrel tax rate for foreign import beer (defined as beer manufactured and imported from outside the United States)

Applies to Class "A" beer permittees on wholesale beer sales and special Class "A" beer permittees on beer manufactured for on-premises consumption or sold at retail

Takes effect upon publication in the Iowa Administrative Bulletin of a notice that the federal Alcohol and Tobacco Tax and Trade Bureau has adopted regulations or otherwise approved the differential tax rates for American versus foreign beer