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Titles (1)

Official Titles

Official Titles - House of Representatives

Official Title as Introduced

To amend the Tariff Act of 1930 to provide for a deferral of the payment of a duty upon the sale of certain used yachts, and for other purposes.


Actions Overview (1)

Date
11/18/2015Introduced in House

All Actions (2)

Date
11/18/2015Referred to the House Committee on Ways and Means.
Action By: House of Representatives
11/18/2015Introduced in House
Action By: House of Representatives

Committees (1)

Committees, subcommittees and links to reports associated with this bill are listed here, as well as the nature and date of committee activity and Congressional report number.

Committee / Subcommittee Date Activity Reports
House Ways and Means11/18/2015 Referred to

No related bill information was received for H.R.4065.


Subjects (3)


Latest Summary (1)

There is one summary for H.R.4065. View summaries

Shown Here:
Introduced in House (11/18/2015)

This bill amends the Tariff Act of 1930 to repeal the deferral until sale of the duty on large yachts imported for sale at U.S. boat shows.

Any used yacht with a valid U.S. cruising license, instead, may enter, may be offered for sale in, and may remain in, the U.S. customs territory without the payment of duty, but subject to certain conditions.

If the used yacht, while in the U.S. customs territory, is sold to a U.S. resident:

  • entry of the used yacht shall be completed and duty shall be deposited with U.S. Customs and Border Protection (CBP) within 15 days after completion of the sale, and
  • by the same deadline any yacht broker or dealer involved in the sale must collect and remit that duty to the CBP.

The duty on the sale of that yacht shall be:

  • calculated at the applicable rate under the Harmonized Tariff Schedule of the United States, and
  • based upon the yacht's value at the time of sale.

No posting of bond for this duty may be required upon the used yacht's entry into the U.S. customs territory.