Summary: S.1224 — 99th Congress (1985-1986)All Information (Except Text)

There is one summary for S.1224. Bill summaries are authored by CRS.

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Introduced in Senate (05/24/1985)

Softwood Lumber Stabilization Act of 1985 - Limits imports of softwood lumber during any calendar quarter to an amount equal to the product of the historical percentage of imports for such quarter multiplied by the total quantity of softwood lumber that the Secretary of Commerce (the Secretary) estimates will be consumed in the United States during such quarter. Directs the Secretary to allocate the limitation among foreign countries. Sets forth factors to be considered in making such allocation. Requires the Secretary to publish in the Federal Register every quarter specified information relating to such limitation. Directs the Secretary and the Secretary of the Treasury to take the actions necessary to enforce this Act.

Authorizes the President during the five years following enactment of this Act to enter into trade agreements providing for limitations on imports of softwood lumber into the United States.