Duty Drawback Clarification Act

Hozzl · 2024-12-20T09:05:41Z

Explore the details of House Bill 4073 Duty Drawback Clarification Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Foreign Trade and International Finance. Stay informed on legislative developments.

12/20/2024, 9:05 AM

Summary of Bill HR 4073

Bill 118 HR 4073, also known as the Duty Drawback Clarification Act, aims to clarify and streamline the duty drawback process for businesses in the United States. Duty drawback is a refund of certain duties, taxes, and fees paid on imported merchandise that is subsequently exported or destroyed.

The bill seeks to provide greater transparency and consistency in the duty drawback process by requiring the Department of Homeland Security to establish clear guidelines and procedures for businesses to follow when applying for duty drawback. This will help businesses navigate the complex process more easily and ensure that they receive the refunds they are entitled to.

Additionally, the bill aims to reduce the administrative burden on businesses by allowing them to submit duty drawback claims electronically, rather than through paper forms. This will help expedite the process and make it more efficient for businesses to receive their refunds. Overall, the Duty Drawback Clarification Act is designed to make the duty drawback process more user-friendly and efficient for businesses, ultimately helping to promote trade and economic growth in the United States.

Congressional Summary of HR 4073

Duty Drawback Clarification Act

This bill revises chapter 22 of the Harmonized Tariff Schedule of the United States to provide uniform rates of duty for all whiskies.

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Current Status of Bill HR 4073

Bill HR 4073 is currently in the status of Bill Introduced since June 13, 2023. Bill HR 4073 was introduced during Congress 118 and was introduced to the House on June 13, 2023. Bill HR 4073's most recent activity was Referred to the Subcommittee on Trade. as of December 17, 2024

Bipartisan Support of Bill HR 4073

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Total Number of Cosponsors

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Policy Area and Potential Impact of Bill HR 4073

Primary Policy Focus

Foreign Trade and International Finance

Alternate Title(s) of Bill HR 4073

Duty Drawback Clarification ActDuty Drawback Clarification ActTo amend the Harmonized Tariff Schedule of the United States to provide a uniform 8-digit subheading number for all whiskies.

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