II 109th CONGRESS 1st Session S. 1954 IN THE SENATE OF THE UNITED STATES November 2, 2005 Mr. Craig (for himself and Mr. Akaka) introduced the following bill; which was read twice and referred to the Committee on Finance A BILL To amend the General Notes of the Harmonized Tariff Schedule of the United States to give products imported from United States insular possessions the same treatment as products imported from countries with which the United States has entered into a free trade agreement.

1.

Short title

This Act may be cited as the Insular Possessions Act of 2005.

2.

Tariff treatment for insular possessions

(a)

In general

General Note 3(a)(iv)(A) of the Harmonized Tariff Schedule of the United States is amended by striking (or more than 50 percent of their total value with respect to goods described in section 213(b) of the Caribbean Basin Economic Recovery Act). (b)

Effective date

The amendment made by this section shall applies to goods entered, or withdrawn from warehouse for consumption, on or after the 15th day after the date of the enactment of this Act.