[Congressional Bills 108th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1494 Introduced in House (IH)]






108th CONGRESS
  1st Session
                                H. R. 1494

To provide for certain deposits and countervailing duties to be imposed 
   on imports of dynamic random access memory (DRAM) semiconductors 
 produced by Hynix Semiconductor if certain affirmative determinations 
   are made under subtitle A of title VII of the Tariff Act of 1930.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             March 27, 2003

Mr. Otter (for himself and Mr. Simpson) introduced the following bill; 
         which was referred to the Committee on Ways and Means

_______________________________________________________________________

                                 A BILL


 
To provide for certain deposits and countervailing duties to be imposed 
   on imports of dynamic random access memory (DRAM) semiconductors 
 produced by Hynix Semiconductor if certain affirmative determinations 
   are made under subtitle A of title VII of the Tariff Act of 1930.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. FINDINGS.

    Congress makes the following findings:
            (1) The Government of Korea and the banks that it owns and 
        controls have provided over $16,000,000,000 in financial 
        assistance to Hynix Semiconductor.
            (2) Hynix Semiconductor is essentially a bankrupt entity 
        that would not be able to obtain loans from commercial sources.
            (3) Hynix Semiconductor has recently been implicated in the 
        illegal transfer of funds to North Korea in 2000.
            (4) The subsidies provided by the Government of Korea to 
        Hynix Semiconductor are special and deferential and are 
        provided specifically for the benefit of that company.
            (5) The financial contributions made by the Government of 
        Korea provide a substantial benefit to Hynix.
            (6) The imports of these subsidized products have caused 
        material injury to the United States industry producing dynamic 
        random access memory (DRAM) semiconductors, including 
        substantial operating losses and significant layoffs of 
        employees.

SEC. 2. IMPOSITION OF COUNTERVAILING DUTIES ON HYNIX.

    If, in conducting an investigation under subtitle A of title VII of 
the Tariff Act of 1930 (19 U.S.C. 1671 et seq.) to determine whether to 
impose countervailing duties on entries of dynamic random access memory 
(DRAM) semiconductors produced by Hynix Semiconductor--
            (1) the administering authority makes an affirmative 
        determination under section 703(d) of that Act with respect to 
        such semiconductors, then the amount of a cash deposit, bond, 
        or other security ordered under section 703(d)(1)(B) of that 
        Act shall be 80 percent ad valorem for each entry of the 
        subject merchandise, in lieu of any amount that would otherwise 
        be ordered;
            (2) the administering authority makes an affirmative 
        determination under section 705(c) of that Act with respect to 
        such semiconductors, then the amount of a cash deposit, bond, 
        or other security ordered under section 705(c)(1)(B)(ii) of 
        that Act shall be 80 percent ad valorem for each entry of the 
        subject merchandise, in lieu of any amount that would otherwise 
        be ordered; and
            (3) the administering authority issues a countervailing 
        duty order under section 706 of that Act with respect to such 
        semiconductors, then the amount of the countervailing duty 
        required under section 706(a)(1) of that Act and the amount of 
        the deposit of estimated countervailing duties required under 
        section 706(a)(3) of that Act shall be 80 percent ad valorem 
        for each entry of the subject merchandise, in lieu of any 
        amount that would otherwise be ordered.

SEC. 3. ADMINISTRATIVE REVIEWS.

    If, pursuant to a review under subtitle C of title VII of the 
Tariff Act of 1930 (19 U.S.C. 1675 et seq.) of a countervailing duty 
order described in section 2(3), the countervailing duty order is 
continued, then the amount of the countervailing duty required under 
the order, and the amount of the deposit of estimated countervailing 
duties required for entries of the subject merchandise, shall be 80 
percent ad valorem for each entry of the subject merchandise, in lieu 
of any amount that would otherwise be ordered.
                                 <all>