0
Formula 3.0 Act
12/20/2024, 9:06 AM
Summary of Bill HR 3778
The current formula, known as Formula 2.0, has been in place for over a decade and is widely seen as outdated and inefficient. The Formula 3.0 Act seeks to address this issue by creating a new formula that takes into account more recent data and trends in order to better reflect the needs of each state.
Some key provisions of the bill include: - Establishing a bipartisan commission to study and recommend changes to the current formula - Requiring the Department of Treasury to implement the new formula within one year of the bill's passage - Providing additional funding to states that have been historically underfunded under the current formula - Ensuring that the new formula is transparent and easy to understand for both lawmakers and the public Overall, the Formula 3.0 Act aims to create a fairer and more efficient system for distributing federal funds to states, ultimately improving the delivery of essential services to all Americans.
Congressional Summary of HR 3778
Formula 3.0 Act
This bill provides duty-free treatment to certain infant formula and infant formula base powder.
The bill defines infant formula base powder as a dry mixture of protein, fat, and carbohydrates that requires only the addition of vitamins and minerals in order to meet the definition of the term infant formula in the Federal Food, Drug, and Cosmetic Act. It must be (1) imported by a party that has been determined by the Food and Drug Administration (FDA) to be authorized to lawfully market infant formula in the United States or has received a letter of enforcement discretion from the FDA relating to the marketing of its infant formula in the United States, and (2) intended to be used in manufacturing infant formula in the United States.
The bill also removes the limitation on the aggregate quantity of certain infant formula containing oligosaccharides (carbohydrates) that may enter the United States in any calendar year.
