1. Repeal of limitation on cover over of distilled spirits taxes to Puerto Rico and the Virgin Islands (a) In general Section 7652 of the Internal Revenue Code of 1986 is amended by striking subsection (f) and by redesignating subsections (g) and (h) as subsections (f) and (g), respectively. (b) Effective date The amendments made by this section shall apply to distilled spirits brought into the United States after December 31, 2018. 2. Transfer to Puerto Rico Conservation Trust Fund of portion of Puerto Rico rum cover over (a) In general Section 7652(e) of the Internal Revenue Code of 1986 is amended by redesignating paragraphs (3), (4), and (5) as paragraphs (4), (5), and (6), respectively, and by inserting after paragraph (2) the following new paragraph: (2) Transfer to Puerto Rico Conservation Trust Fund of portion of rum cover over (A) In general From any amount otherwise required to be covered over to the treasury of Puerto Rico under this section with respect to taxes collected on rum under section 5001(a)(1) or subsection (a), the Secretary of the Treasury shall transfer to the Puerto Rico Conservation Trust Fund an amount equal to $0.46 per proof gallon of rum to which such cover over is attributable. Any amount transferred under the preceding sentence shall be treated for purposes of this section (other than this paragraph) as having been covered over to the treasury of Puerto Rico. (B) Puerto Rico Conservation Trust Fund For purposes of this section, the term Puerto Rico Conservation Trust Fund means the fund established pursuant to a Memorandum of Understanding between the United States Department of the Interior and the Commonwealth of Puerto Rico, dated December 24, 1968. . (b) Effective date The amendments made by this section shall apply to rum brought into the United States after December 31, 2018.