H.R. 5798 (112th): Efficient Export Promotion to Help American Businesses Act of 2012

112th Congress, 2011–2013. Text as of May 17, 2012 (Introduced).

Status & Summary | PDF | Source: GPO

I

112th CONGRESS

2d Session

H. R. 5798

IN THE HOUSE OF REPRESENTATIVES

May 17, 2012

(for himself and Mr. Reichert) introduced the following bill; which was referred to the Committee on Foreign Affairs, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned

A BILL

To amend the Export Enhancement Act of 1988 to improve export promotion activities, and for other purposes.

1.

Short title

This Act may be cited as the Efficient Export Promotion to Help American Businesses Act of 2012.

2.

Improved coordination of export promotion activities of Federal agencies

Section 2312(b) of the Export Enhancement Act of 1988 (relating to the Trade Promotion Coordinating Committee; 15 U.S.C. 4727(b)) is amended—

(1)

in paragraph (5), by striking and after the semicolon;

(2)

by redesignating paragraph (6) as paragraph (7); and

(3)

by inserting after paragraph (5) the following:

(6)

in making assessments under paragraph (5)—

(A)

review the proposed annual budget of each agency described in paragraph (5) before the agency submits the budget to the Office of Management and Budget and the President for inclusion in the budget of the United States submitted to Congress under section 1105(a) of title 31, United States Code, to ensure each agency coordinates with the other agencies described in paragraph (5) on enforcement, promotion of foreign direct investment, performance outreach, centralization of information for exporters, and other duties described in paragraphs (1) through (5); and

(B)

recommend the combining and simplification of programs and the termination of redundant programs and changes in funding to meet the strategic plan as described in its annual report to Congress under subsection (f); and

.

3.

Improved reporting on export promotion activities to assist United States businesses

Section 2312(f) of the Export Enhancement Act of 1988 (relating to the Trade Promotion Coordinating Committee; 15 U.S.C. 4727(f)) is amended—

(1)

in the matter preceding paragraph (1), by striking Committee on International Relations and inserting Committee on Foreign Affairs;

(2)

in paragraph (1), by striking and after the semicolon;

(3)

in paragraph (2), by striking the period at the end and inserting a semicolon;

(4)

by adding at the end the following:

(3)

an analysis of efforts of the TPCC and each agency described in subsection (b)(5) compared to export promotion efforts of other countries with the largest export volumes, as well as countries with the fastest-growing export volumes, and countries with effective export promotion programs, including actions taken in the prior year taken to compete more effectively;

(4)

an analysis of factors that inhibit exports by each State and region of the United States, including actions taken to address such factors;

(5)

a description of industry areas for strategic growth and changes to exports that represent strategic threats to the overall security of the United States; and

(6)

a prioritized list of legislative recommendations that, if enacted, the TPCC believes would lead to an increase of exports and more efficient export promotion.

; and

(5)

by further adding at the end the following:

The report required under this subsection shall include the input and review by the business community before publication and be made available on the TPCC website and the Department of Commerce website.

.

4.

Improving the accuracy of import and export report data and other economic reports

(a)

In general

Paragraph (1) of section 6103(j) of the Internal Revenue Code of 1986 is amended—

(1)

in subparagraph (B) by inserting sole proprietorships with gross receipts from a trade or business of more than $750,000 for the taxable year, partnerships, and before corporations, and

(2)

by adding at the end the following: Return information with respect to a sole proprietorship disclosed under the preceding sentence shall be limited to information related to the trade or business of the sole proprietorship..

(b)

Effective date

The amendment made by subsection (a) shall apply with respect to reports issued for 2011 and thereafter.