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S. 489 (114th): Low Value Shipment Regulatory Modernization Act of 2015


The text of the bill below is as of Feb 12, 2015 (Introduced). The bill was not enacted into law.


II

114th CONGRESS

1st Session

S. 489

IN THE SENATE OF THE UNITED STATES

February 12, 2015

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

A BILL

To amend the Tariff Act of 1930 to increase the maximum value of articles that may be imported duty-free by one person on one day.

1.

Short title

This Act may be cited as the Low Value Shipment Regulatory Modernization Act of 2015.

2.

Sense of Congress on de minimis informal entries

(a)

Findings

Congress makes the following findings:

(1)

Modernizing international customs is critical for United States businesses of all sizes, consumers in the United States, and the economic growth of the United States.

(2)

Higher thresholds for the value of articles that may be entered informally and free of duty provide significant economic benefits to businesses and consumers in the United States and the economy of the United States through costs savings and reductions in trade transaction costs.

(b)

Sense of Congress

It is the sense of Congress that the United States Trade Representative should encourage other countries, through bilateral, regional, and multilateral fora, to establish commercially meaningful de minimis values for express and postal shipments that are exempt from customs duties and taxes and from certain entry documentation requirements, as appropriate.

3.

Increase in maximum value of articles that may be imported duty-free by one person on one day

(a)

In general

Section 321(a)(2)(C) of the Tariff Act of 1930 (19 U.S.C. 1321(a)(2)(C)) is amended by striking $200 and inserting $800.

(b)

Effective date

The amendment made by subsection (a) shall apply to articles entered, or withdrawn from warehouse for consumption, on or after January 1, 2016.