A bill to extend the Generalized System of Preferences, and for other purposes.

Bill: 116-s-4784
Sponsor: full_name: Sen. Grassley, Chuck [R-IA]
Introduced: 2020-10-01
Policy area: Foreign Trade and International Finance
Latest action: action_date: 2020-10-01
text: Read twice and referred to the Committee on Finance.

Summaries:
action_date: 2020-10-01
action_desc: Introduced in Senate
text: <p>This bill extends through April 30, 2022, the duty-free treatment provided for certain items under the Generalized System of Preferences, and it extends to November 25, 2029, the date through which certain merchandise processing fees may be charged.</p>

tv_txt: II 116th CONGRESS 2d Session S. 4784 IN THE SENATE OF THE UNITED STATES October 1, 2020 Mr. Grassley introduced the following bill; which was read twice and referred to the Committee on Finance A BILL To extend the Generalized System of Preferences, and for other purposes.

1. Extension of Generalized System of Preferences Section 505 of the Trade Act of 1974 ( 19 U.S.C. 2465 ) is amended by striking December 31, 2020 and inserting April 30, 2022 . 2. Customs user fees (a) In general 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 21, 2029 and inserting November 25, 2029 ; and (2) in subparagraph (B)(i), by striking October 21, 2029 and inserting November 25, 2029 . (b) Rate for merchandise processing fees Section 503 of the United States–Korea Free Trade Agreement Implementation Act ( Public Law 112–41 ; 19 U.S.C. 3805 note) is amended by striking October 21, 2029 and inserting November 25, 2029 .