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Montana committee hears bill to let investors buy interests in aging whiskey barrels
Summary
Lawmakers heard testimony on House Bill 549, which would allow distillers to use 'warehouse receipts' so investors can provide working capital against barrels aging in bonded warehouses without acquiring a license or ownership in the distillery.
Representative Carrie Seekins Crowe (House District 39, Billings) opened testimony on House Bill 549, saying the measure would allow a practice common in other states and permitted under federal law. “This bill would allow for something called a warehouse receipt,” she told the Senate Business and Labor committee, describing a contract that lets investors buy an interest in the future value of a barrel rather than ownership in the business.
Proponents including Jennifer Hensley, who testified for the Montana Distillers Guild,…
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