S.4003 - Duty Suspension Facilitation Act of 2010111th Congress (2009-2010)
|Sponsor:||Sen. DeMint, Jim [R-SC] (Introduced 12/02/2010)|
|Committees:||Senate - Finance|
|Latest Action:||12/02/2010 Read twice and referred to the Committee on Finance.|
This bill has the status Introduced
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Subject — Policy Area:
- Foreign Trade and International Finance
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Summary: S.4003 — 111th Congress (2009-2010)All Bill Information (Except Text)
Introduced in Senate (12/02/2010)
Duty Suspension Facilitation Act of 2010 - Directs the International Trade Commission (ITC) to propose to Congress temporary duty suspensions or duty reductions under the Harmonized Tariff Schedule of the United States (HTS).
Prohibits the ITC from recommending any suspension or reduction in duty if: (1) an interested federal agency determines it is not in the U.S. interest and that determination is included in the agency public hearing record; (2) a domestic producer objects to the suspension or reduction, demonstrating that there is domestic production of the article concerned in commercially available quantities; (3) the loss in revenue to the United States from the duty suspension or reduction exceeds $500,000 annually (adjusted for inflation); or (4) the duty suspension or reduction is for more than three years.