HB2485 amends the Liquor Control Act of 1934 to modify bond requirements for liquor manufacturers and importers.
HB2485 amends the Liquor Control Act of 1934 by changing the bond requirements for liquor manufacturers and importers. It removes the requirement for first-time applicants for a manufacturer's or importing distributor's license to file a bond with the Department of Revenue. The bond may still be required as a condition to renew a license for subsequent annual terms if the manufacturer or importing distributor exceeds $50,000 in tax liability. The bond must be in an amount not less than $1,000 and not to exceed $100,000.
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