H.R.5724 - United States-Colombia Trade Promotion Agreement Implementation Act110th Congress (2007-2008)
|Sponsor:||Rep. Hoyer, Steny H. [D-MD-5] (Introduced 04/08/2008)(by request)|
|Committees:||House - Ways and Means|
|Latest Action:||04/10/2008 Rule H. Res. 1092 passed House. (All Actions)|
This bill has the status Introduced
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Subject — Policy Area:
- Foreign Trade and International Finance
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Summary: H.R.5724 — 110th Congress (2007-2008)All Bill Information (Except Text)
Introduced in House (04/08/2008)
United States-Colombia Trade Promotion Agreement Implementation Act - Approves the United States-Colombia Trade Promotion Agreement (the Agreement) entered into with the government of Colombia. Provides for the Agreement's entry into force upon certain conditions being met on or after January 1, 2009.
Authorizes the President to proclaim actions, and other appropriate officers of the U.S. government to issue regulations, necessary to ensure appropriate implementation of any provision of this Act that takes effect on the date the Agreement enters into force.
Provides for: (1) administration of dispute settlement proceedings; (2) arbitration of certain claims against the United States; and (3) specified tariff modifications.
Prescribes requirements for: (1) enforcement of textile and apparel rules of origin; (2) actions for relief from imports benefiting from the Agreement; and (3) certain textile and apparel safeguard measures.
Amends the Trade Agreements Act of 1979 to make eligible for U.S. government procurement products or services of a foreign country or instrumentality that is a party to the Agreement.
Provides for the following offsets: (1) amends the Consolidated Omnibus Budget Reconciliation Act of 1985 to extend the authority for the collection of customs user fees for a specified period; and (2) amends the Tax Increase Prevention and Reconciliation Act of 2005 to increase by one percentage point the current increased percentage of any required installment of corporate estimated tax otherwise due in July, August, or September 2012, and by two percentage points the amount of any required installment of corporate estimated tax otherwise due in July, August, or September 2013.