the Secretary may by regulations prescribe. Any such elec-
tion shall apply for the taxable year for which made and 
for each succeeding taxable year. Such election may be re-
voked only with the consent of the Secretary. 
‘‘(l) REGULATIONS.—The Secretary shall prescribe 
regulations to carry out this section, including regula-
tions— 
‘‘(1) for determining the credit under this sec-
tion for when a country is designated under section 
104 of the African Growth and Opportunity Act as 
an eligible sub-Saharan Africa country on a day 
other than the first day of the taxable year or if 
such designation is terminated during the taxable 
year, 
‘‘(2) for determining the allocable share of spec-
ified items (as defined in subsection (f)) of a part-
nership in the case of a domestic corporation or a 
controlled foreign corporation in which such domes-
tic corporation is a United States shareholder, or a 
lower tier entity of either such corporation, which is 
a partner in such partnership, and 
‘‘(3) to prevent the abuse of this section. 
‘‘(m) TERMINATION.—No credit shall be allowed 
under this section with respect to any taxable year begin-
ning after December 31, 2015.’’. 
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(b) CONFORMING AMENDMENTS.— 
(1) The first sentence of section 55(c)(1) of 
such Code is amended by striking ‘‘27(b), and’’ and 
inserting ‘‘27(b),’’ and by inserting before the period 
at the end the following: ‘‘, and the Sub-Saharan Af-
rica economic activity credit under section 30D’’. 
(2) Section 56(g)(4)(C)(ii)(I) of such Code is 
amended by inserting ‘‘30D,’’ after ‘‘30A,’’. 
(3) Section 56(g)(4)(C)(iii)(VI) of such Code is 
amended by inserting before the period at the end 
‘‘and, notwithstanding section 30D(i), shall not be 
treated as including references to section 30D’’. 
(4) Section 59(b) of such Code is amended by 
inserting ‘‘, 30D,’’ after ‘‘30A’’ each place it appears 
in the heading and text. 
(5) The table of sections for subpart B of part 
IV of subchapter A of chapter 1 of such Code (relat-
ing to other credits) is amended by adding at the 
end the following new item: 
‘‘Sec. 30D. Sub-Saharan Africa economic activity credit.’’. 
(c) EFFECTIVE DATE.—The amendments made by 
this section shall apply to taxable years beginning after 
the date of the enactment of this Act. 
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TITLE II—GENERALIZED SYSTEM 
OF PREFERENCES (GSP) PRO-
GRAM 
SEC. 201. LIMITATIONS ON WAIVERS OF COMPETITIVE 
NEED LIMITATION. 
Section 503(d)(4)(B) of the Trade Act of 1974 (19 
U.S.C. 2463(d)(4)(B)) is amended— 
(1) by striking ‘‘The President’’ and inserting 
‘‘(i) The President’’; 
(2) by striking ‘‘(i) had’’ and inserting ‘‘(I) 
had’’ and by striking ‘‘(ii) had’’ and inserting ‘‘(II) 
had’’; and 
(3) by adding at the end the following new 
clauses: 
‘‘(ii) Beginning on January 1, 2007, the 
President may not exercise the waiver authority 
provided under this subsection with respect to 
a quantity of an eligible article of a beneficiary 
developing country entered during any calendar 
year if the President determines that the aggre-
gate appraised value of the article of the coun-
try that entered duty-free under this title dur-
ing the preceding calendar year exceeded 
$1,500,000,000. 
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‘‘(iii) Beginning on January 1, 2007, the 
President may not exercise the waiver authority 
provided under this subsection with respect to 
a quantity of any eligible article of a beneficiary 
developing country entered during any calendar 
year if the President determines that the per 
capita gross national income (GNI) of the coun-
try during the preceding calendar year exceeded 
$3,400.’’. 
SEC. 202. EXTENSION OF GSP PROGRAM. 
Section 505 of the Trade Act of 1974 (19 U.S.C. 
2465) is amended by striking ‘‘December 31, 2006’’ and 
inserting ‘‘December 31, 2008’’. 
TITLE III—HAITI 
SEC. 301. SHORT TITLE. 
This title may be cited as the ‘‘Haitian Hemispheric 
Opportunity through Partnership Encouragement Act of 
2006’’ . 
SEC. 302. TRADE BENEFITS FOR HAITI. 
(a) IN GENERAL.—The Caribbean Basin Economic 
Recovery Act (19 U.S.C. 2701 et seq.) is amended by in-
serting after section 213 the following new section: 
‘‘SEC. 213A. SPECIAL RULES FOR HAITI. 
‘‘(a) DEFINITIONS.—In this section: 
‘‘(1) APPLICABLE 1-YEAR PERIOD.— 
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‘‘(A) IN GENERAL.—The term ‘‘applicable 
1-year period’’ means each of the 1-year periods 
described in subparagraphs (B) through (F). 
‘‘(B) INITIAL
APPLICABLE
1-YEAR
PE-
RIOD.—The term ‘initial applicable 1-year pe-
riod’ means the 1-year period beginning on the 
date of the enactment of the Haitian Hemi-
spheric Opportunity through Partnership En-
couragement Act of 2006. 
‘‘(C) SECOND
APPLICABLE
1-YEAR
PE-
RIOD.—The term ‘second applicable 1-year pe-
riod’ means the 1-year period beginning on the 
day after the last day of the initial applicable 
1-year period. 
‘‘(D) THIRD
APPLICABLE
1-YEAR
PE-
RIOD.—The term ‘third applicable 1-year pe-
riod’ means the 1-year period beginning on the 
day after the last day of the second applicable 
1-year period. 
‘‘(E) FOURTH
APPLICABLE
1-YEAR
PE-
RIOD.—The term ‘fourth applicable 1-year pe-
riod’ means the 1-year period beginning on the 
day after the last day of the third applicable 1- 
year period. 
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