H.R.3175 - Answer Africa's Call Act109th Congress (2005-2006)
|Sponsor:||Rep. McDermott, Jim [D-WA-7] (Introduced 06/30/2005)|
|Committees:||House - Financial Services; Ways and Means|
|Latest Action:||07/29/2005 Referred to the Subcommittee on Domestic and International Monetary Policy, Trade, and Technology.|
This bill has the status Introduced
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Subject — Policy Area:
- International Affairs
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Summary: H.R.3175 — 109th Congress (2005-2006)All Bill Information (Except Text)
Introduced in House (06/30/2005)
Answer Africa's Call Act - Amends the Internal Revenue Code to impose an additional income tax (surcharge) on adjusted gross incomes exceeding certain threshold levels (in order to fund the U.S. International Finance Facility).
Establishes the United States International Finance Facility Trust Fund in the Treasury consisting of such amounts appropriated or credited to the Trust Fund, including amounts collected from the surcharge).
Makes such Fund amounts available without further appropriation for expenditures in connection with U.S. commitments to the International Finance Facility.
Amends the Trade Act of 1974 to modify the preferential trade treatment for agricultural products of beneficiary sub-Saharan African countries. Removes the limitation on eligibility for duty-free treatment of an agriculture product subject to a tariff-rate quota exceeding the in-quota amount, if the over-quota import is the growth, product, or manufacture of a beneficiary sub-Saharan African country. Requires the President to: (1) assess a duty on such an over-quota product if its unit import price is less than the annual trigger price; (2) establish an annual trigger price for each such product; and (3) notify the beneficiary sub-Saharan African country concerned of such additional duty.
Amends the African Growth and Opportunity Act (AGOA) to revise criteria for preferential treatment of apparel articles wholly assembled from fabric or yarn not available in commercial quantities in the United States to make certain yarn or fabrics eligible for use in the production of specified cut or knit-to-shape apparel articles.
Modifies AGOA special rules for lesser developed countries with respect to preferential treatment for apparel articles wholly assembled, or knit to shape and wholly assembled, or both, in one or more lesser developed beneficiary sub-Saharan African countries regardless of the country of origin of the fabric or yarn used. Extends through FY 2015 the applicable percentage component of the preferential treatment formula established for FY 2005.
Includes Mauritius in such extension, with no change in its current limitation of 5% of such applicable percentage.