Text: S.1331 — 113th Congress (2013-2014)All Information (Except Text)

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Introduced in Senate (07/18/2013)

1st Session
S. 1331

To extend the Generalized System of Preferences, and for other purposes.


July 18, 2013

Mr. Baucus (for himself and Mr. Hatch) introduced the following bill; which was read twice and referred to the Committee on Finance


To extend the Generalized System of Preferences, and for other purposes.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. Extension of Generalized System of Preferences.

Section 505 of the Trade Act of 1974 (19 U.S.C. 2465) is amended by striking “July 31, 2013” and inserting “September 30, 2015”.

SEC. 2. Customs user fees.

Section 13031(j)(3) of the Consolidated Omnibus Budget Reconciliation Act of 1985 (19 U.S.C. 58c(j)(3)) is amended—

(1) in subparagraph (A), by striking “October 22, 2021” and inserting “January 21, 2022”; and

(2) in subparagraph (B)(i), by striking “October 29, 2021” and inserting “January 28, 2022”.

SEC. 3. Time for payment of corporate estimated taxes.

Notwithstanding section 6655 of the Internal Revenue Code of 1986, in the case of a corporation with assets of not less than $1,000,000,000 (determined as of the end of the preceding taxable year)—

(1) the amount of any required installment of corporate estimated tax which is otherwise due in July, August, or September of 2018 shall be increased by 1.25 percent of such amount (determined without regard to any increase in such amount not contained in such Code); and

(2) the amount of the next required installment after an installment referred to in paragraph (1) shall be appropriately reduced to reflect the amount of the increase by reason of such paragraph.

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