A mash bill is a list of grains that distillers use to make a batch of bourbon. The bill is an integral part of official guidelines that categorize and define types of bourbon.
A "mash" refers to the grains used to ferment and distill the alcohol. By law, a mash for bourbon must contain at least 51% corn; the other 49% is at the distiller's discretion.
The mash bill lists the grains used in the bourbon and the percentages at which they are included. Rye, barley, and wheat are common choices, all providing different flavors.
While some labels are clear about their grain choices and ingredient proportions, other brands like Buffalo Trace keep the non-corn portion of their mash bills a secret.