[Congressional Bills 106th Congress]
[From the U.S. Government Publishing Office]
[S. 2961 Introduced in Senate (IS)]







106th CONGRESS
  2d Session
                                S. 2961

To amend the Customs drawback statute to authorize payment of drawback 
     where imported merchandise is recycled rather than destroyed.


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                   IN THE SENATE OF THE UNITED STATES

                             July 27, 2000

   Mr. Wyden introduced the following bill; which was read twice and 
                  referred to the Committee on Finance

_______________________________________________________________________

                                 A BILL


 
To amend the Customs drawback statute to authorize payment of drawback 
     where imported merchandise is recycled rather than destroyed.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,
    Section 313 of the Tariff Act of 1930, as amended, is further 
amended by adding a new subsection (x) to read as follows: ``For the 
purposes of subsections (a), (b), and (c) the term `destruction' shall 
include an act in which materials are recovered from the destroyed 
merchandise: Provided, That in determining the amount of duties to be 
refunded as drawback to the claimant, if the value of recovered 
materials, including value in the form of a tax benefit or royalty 
payment, accrues to the drawback claimant, that value shall be deducted 
from the value of the duty-paid, imported merchandise that is 
destroyed, or from the value of the merchandise used, or designated as 
used, in the manufacture of the destroyed merchandise.''.
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