All Information (Except Text) for S.81 - Nepal Trade Preferences Act114th Congress (2015-2016)
|Sponsor:||Sen. Feinstein, Dianne [D-CA] (Introduced 01/07/2015)|
|Committees:||Senate - Finance|
|Latest Action:||01/07/2015 Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S61) (All Actions)|
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Titles Actions Overview All Actions Cosponsors Committees Related Bills Subjects Latest Summary All Summaries
Actions Overview (1)
|01/07/2015||Introduced in Senate|
01/07/2015 Introduced in Senate
All Actions (1)
|01/07/2015||Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S61)|
Action By: Senate
01/07/2015 Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S61)
|Sen. Gillibrand, Kirsten E. [D-NY]||05/14/2015|
|Sen. Schumer, Charles E. [D-NY]||05/14/2015|
|Sen. Murphy, Christopher [D-CT]||05/14/2015|
|Committee / Subcommittee||Date||Activity||Related Documents|
|Senate Finance||01/07/2015||Referred to|
Subject — Policy Area:
One Policy Area term, which best describes an entire measure, is assigned to every public bill or resolution.
Latest Summary (1)
Introduced in Senate (01/07/2015)
Nepal Trade Preferences Act
Authorizes the President to give preferential treatment to certain articles imported directly from Nepal into the U.S. customs territory if that country meets certain requirements under the African Growth and Opportunity Act, including a market-based economy and the rule of law, the protection of human rights and internationally-recognized worker rights, elimination of trade barriers to the United States, and non-engagement in activities that undermine U.S. national security or foreign policy interests or support acts of international terrorism. Requires Nepal also to meet certain eligibility criteria for designation as a beneficiary developing country under the Trade Act of 1974.
Authorizes certain import-sensitive articles (watches, electronic articles, steel articles, footwear and certain other apparel, and glass products) imported directly from Nepal to enter the U.S. customs territory duty-free if: (1) the article is the growth, product, or manufacture of Nepal; (2) the President determines, after receiving advice from the U.S. International Trade Commission (USITC), that the article is not import-sensitive; and (3) the sum of the cost or value of the materials produced in, and the manufacturing costs performed in, Nepal or the U.S. customs territory is at least 35% of the appraised value of the article at the time it is entered. Limits to 15% of the appraised value of the article at the time it is entered the cost or value of the materials produced in, and the manufacturing costs performed in, the U.S. customs territory, and attributed to the 35% requirement.
Grants duty-free treatment to certain textile or apparel articles: (1) wholly assembled in Nepal, without regard to the country of origin of the yarn or fabric used to make them; and (2) imported directly from Nepal into the U.S. customs territory.
Prescribes requirements for handloomed, handmade, folklore articles or ethnic printed fabrics.
Terminates the extension of preferential treatment to Nepal after December 31, 2025.