S.Amdt. 636

1. Adds TITLE ___--MODIFICATION OF WOOL TRUST FUND at the end of the bill

   Adds a title

   In H.R. 2832 · Placed on Calendar Senate

   Passed the House of Representatives September 7, 2011.

   Inserted: TITLE ___--MODIFICATION OF WOOL TRUST FUND

   Inserted: SEC. __01. MODIFICATION OF WOOL APPAREL MANUFACTURERS TRUST FUND.

   Inserted: (a) In General.--Section 4002(c)(2) of the Miscellaneous Trade and Technical Corrections Act of 2004 (Public Law 108-429; 118 Stat. 2600) is amended--

   Inserted: (1) in subparagraph (A), by striking "subject to the limitation in subparagraph (B)" and inserting "subject to subparagraphs (B) and (C)"; and

   Inserted: (2) by adding at the end the following new subparagraph:

   Inserted: "(C) Alternative funding source.--Subparagraph (A) shall be applied and administered by substituting 'chapter 62' for 'chapter 51' for any period of time with respect to which the Secretary notifies Congress that amounts determined by the Secretary to be equivalent to amounts received in the general fund of the Treasury of the United States that are attributable to the duty received on articles classified under chapter 51 of the Harmonized Tariff Schedule of the United States are not sufficient to make payments under paragraph (3) or grants under paragraph (6).".

   Inserted: (b) Full Restoration of Payment Levels in Calendar Years 2010 and 2011.--

   Inserted: (1) Transfer of amounts.--

   Inserted: (A) In general.--Not later than 30 days after the date of the enactment of this Act, the Secretary of the Treasury shall transfer to the Wool Apparel Manufacturers Trust Fund, out of the general fund of the Treasury of the United States, amounts determined by the Secretary of the Treasury to be equivalent to amounts received in the general fund that are attributable to the duty received on articles classified under chapter 51 or chapter 62 of the Harmonized Tariff Schedule of the United States (as determined under section 4002(c)(2) of the Miscellaneous Trade and Technical Corrections Act of 2004 (Public Law 108-429; 118 Stat. 2600)), subject to the limitation in subparagraph (B).

   Inserted: (B) Limitation.--The Secretary of the Treasury shall not transfer more than the amount determined by the Secretary to be necessary for--

   Inserted: (i) U.S. Customs and Border Protection to make payments to eligible manufacturers under section 4002(c)(3) of the Miscellaneous Trade and Technical Corrections Act of 2004 so that the amount of such payments, when added to any other payments made to eligible manufacturers under section 4002(c)(3) of such Act for calendar years 2010 and 2011, equal the total amount of payments authorized to be provided to eligible manufacturers under section 4002(c)(3) of such Act for calendar years 2010 and 2011; and

   Inserted: (ii) the Secretary of Commerce to provide grants to eligible manufacturers under section 4002(c)(6) of the Miscellaneous Trade and Technical Corrections Act of 2004 so that the amounts of such grants, when added to any other grants made to eligible manufacturers under section 4002(c)(6) of such Act for calendar years 2010 and 2011, equal the total amount of grants authorized to be provided to eligible manufacturers under section 4002(c)(6) of such Act for calendar years 2010 and 2011.

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   Inserted: (2) Payment of amounts.--U.S. Customs and Border Protection shall make payments described in paragraph (1) to eligible manufacturers not later than 30 days after such transfer of amounts from the general fund of the Treasury of the United States to the Wool Apparel Manufacturers Trust Fund. The Secretary of Commerce shall promptly provide grants described in paragraph (1) to eligible manufacturers after such transfer of amounts from the general fund of the Treasury of the United States to the Wool Apparel Manufacturers Trust Fund.

   Inserted: (c) Rule of Construction.--The amendments made by subsection (a) shall not be construed to affect the availability of amounts transferred to the Wool Apparel Manufacturers Trust Fund before the date of the enactment of this Act.

   Inserted: (d) Conforming Amendments.--Title IV of the Miscellaneous Trade and Technical Corrections Act of 2004 (Public Law 108-429; 118 Stat. 2600) is amended by striking "Bureau of Customs and Border Protection" each place it appears and inserting "U.S. Customs and Border Protection".

   Inserted: (e) Discretionary Authority.--

   Inserted: (1) In general.--Section 4002(c)(3) of Public Law 108-429 is amended by inserting "(or to protect domestic manufacturing employment, and at the sole discretion of the U.S. Customs and Border Protection, no later than April 15)" after "March 1 of the year of the payment".

   Inserted: (2) Effective date.--The amendment made by this subsection shall be effective for payment year 2011 and thereafter.

   Original wording

   At the end, add the following new title:

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As printed