House Bill 2369
115th Congress(2017-2018)
To amend the Tariff Act of 1930 to provide for a deferral of the payment of a duty upon the sale of certain used yachts, and for other purposes.
Introduced
Introduced in House on May 4, 2017
Origin Chamber
House
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
2369
Congress
115
Policy Area
Foreign Trade and International Finance
Foreign Trade and International Finance
Primary focus of measure is competitiveness, trade barriers and adjustment assistance; foreign loans and international monetary system; international banking; trade agreements and negotiations; customs enforcement, tariffs, and trade restrictions; foreign investment. Measures concerning border enforcement may fall under Immigration policy area.
No House votes have been held for this bill.
Summary
This bill amends the Tariff Act of 1930 to repeal the deferral until sale of the duty on large yachts imported for sale at U.S. boat shows.
Any used yacht with a valid U.S. cruising license, instead, may enter, may be offered for sale in, and may remain in, the U.S. customs territory without the payment of duty, but subject to certain conditions.
If the used yacht, while in the U.S. customs territory, is sold to a U.S. resident:
- entry of the used yacht shall be completed and duty shall be deposited with U.S. Customs and Border Protection (CBP) within 15 days after completion of the sale, and
- by the same deadline any yacht broker or dealer involved in the sale must collect and remit that duty to the CBP.
The duty on the sale of that yacht shall be:
- calculated at the applicable rate under the Harmonized Tariff Schedule of the United States, and
- based upon the yacht's value at the time of sale.
No posting of bond for this duty may be required upon the used yacht's entry into the U.S. customs territory.
May 4, 2017
05/18/2017
Referred to the Subcommittee on Trade.
05/04/2017
Referred to the House Committee on Ways and Means.
05/04/2017
Introduced in House
Public Record
Record Updated
Jan 11, 2023 1:36:48 PM