[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[S. 3841 Introduced in Senate (IS)]

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119th CONGRESS
  2d Session
                                S. 3841

    To amend the Tariff Act of 1930 to modify the determination of 
                transaction value for customs valuation.


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                   IN THE SENATE OF THE UNITED STATES

                           February 11, 2026

 Mr. Cassidy (for himself and Mr. Whitehouse) introduced the following 
  bill; which was read twice and referred to the Committee on Finance

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                                 A BILL


 
    To amend the Tariff Act of 1930 to modify the determination of 
                transaction value for customs valuation.

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

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Last Sale Valuation Act of 2026''.

SEC. 2. MODIFICATION TO DETERMINATION OF TRANSACTION VALUE FOR CUSTOMS 
              VALUATION.

    Section 402 of the Tariff Act of 1930 (19 U.S.C. 1401a) is 
amended--
            (1) in subsection (b)(4), by adding at the end the 
        following:
            ``(C) The term `sold for exportation to the United States', 
        with respect to imported merchandise, means--
                    ``(i) in the case of a transaction involving one 
                sale, the price actually paid or payable by the buyer 
                in the United States to the seller located in another 
                country for the merchandise; and
                    ``(ii) in the case of a transaction involving a 
                series of sales, the price actually paid or payable by 
                the buyer in the United States for the merchandise in 
                the last sale that introduces the merchandise into the 
                United States.''; and
            (2) in subsection (h)(5), in the flush text following 
        subparagraph (C), by inserting ``, including access to books 
        and records by U.S. Customs and Border Protection'' after 
        ``adjustment''.
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