This bill proposes to extend a temporary increase in the amount of federal excise taxes on distilled spirits that are transferred, or "covered over," to the treasuries of Puerto Rico and the Virgin Islands. Specifically, it amends Section 7652(f)(1) of the Internal Revenue Code of 1986 to change the expiration date of this increased limitation from January 1, 2022, to January 1, 2032 . The legislation ensures that these U.S. territories continue to receive a higher share of these federal tax revenues for an additional decade. This extension applies to distilled spirits brought into the United States after December 31, 2021, providing ongoing financial support to these insular areas.