[Congressional Record Volume 143, Number 156 (Saturday, November 8, 1997)]
[Senate]
[Page S12119]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

      By Ms. MOSELEY-BRAUN:
  S. 1457. A bill to amend the Harmonized Tariff Schedule of the United 
States to extend to certain fine jewelry certain trade benefits of 
insular possessions of the United States; to the Committee on Finance.


            HARMONIZED TARIFF SCHEDULE AMENDMENT ACT OF 1997

  Ms. MOSELEY-BRAUN. Mr. President, today I am pleased to introduce a 
bill to amend the Harmonized Tariff Schedule of the United States to 
extend certain trade benefits to fine jewelry produced in the U.S. 
Virgin Islands, Guam, and American Samoa.
  Under current law, additional U.S. Note 5 to Chapter 91 of the 
Harmonized Tariff Schedule provides limited duty-free treatment and 
duty refunds to certain watches and watch movements produced in the 
U.S. Virgin Islands, Guam, and American Samoa. The bill I am 
introducing today would also make certain articles of fine jewelry 
produced in these insular possessions, eligible for certain note 5 
benefits, thereby significantly expanding economic opportunities for 
insular possession manufacturers and their workers. At the same time, 
this bill expressly provides that the extension of note 5 benefits to 
jewelry may not result in any increase in the authorized amount of 
benefits established by note 5.
  This legislation will promote needed employment and economic 
development in the U.S. insular possessions, particularly the U.S. 
Virgin Islands, by providing insular possession manufacturers with 
greater flexibility in the use of certain existing trade benefits.
  Mr. President, I ask unanimous consent that the entire text of the 
bill be placed in the Record.
  There being no objection, the bill was ordered to be printed in the 
Record, as follows:

                                S. 1457

       Be it enacted by the Senate and House of Representatives of 
     the United States of America in Congress assembled, That the 
     additional U.S. notes to chapter 71 of the Harmonized Tariff 
     Schedule of the United States are amended by adding at the 
     end the following new note:
       ``3.(a) Notwithstanding any other provision in additional 
     U.S. note 5 to chapter 91, any article of jewelry provided 
     for in heading 7113 which is the product of the Virgin 
     Islands, Guam, or American Samoa (including any such article 
     which contains any foreign component) shall be eligible for 
     the benefits provided in paragraph (h) of additional U.S. 
     note 5 to chapter 91, subject to the provisions and 
     limitations of that note and of paragraphs (b), (c), and (d) 
     of this note.
       ``(b) Nothing provided for in this note shall result in an 
     increase or a decrease in the aggregate amount referred to in 
     paragraph (h)(iii) of, or quantitative limitation otherwise 
     established pursuant to the requirements of, additional U.S. 
     note 5 to chapter 91.
       ``(c) Nothing provided for in this note shall be construed 
     to permit a reduction in the amount available to watch 
     producers under paragraph (h)(iv) of additional U.S. note 5 
     to chapter 91.
       ``(d) The Secretary of Commerce and the Secretary of the 
     Interior shall issue such regulations, not inconsistent with 
     the provisions of this note and additional U.S. note 5 to 
     chapter 91, as they determine necessary to carry out their 
     respective duties under this note. Such regulations shall not 
     be inconsistent with substantial transformation requirements 
     established by the United States Customs Service but may 
     define the circumstances under which articles of jewelry 
     shall be deemed to be `units' for purposes of the benefits, 
     provisions, and limitations of additional U.S. note 5 to 
     chapter 91.''.
                                 ______