H.R. 1339

To amend the Trade Sanctions Reform and Export Enhancement Act of 2000 to clarify allowable payment terms for sales of agricultural commodities and products to Cuba.

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I

109th CONGRESS

1st Session

H. R. 1339

IN THE HOUSE OF REPRESENTATIVES

March 16, 2005

Mrs. Emerson introduced the following bill; which was referred to the Committee on Financial Services, and in addition to the Committees on International Relations and Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned

A BILL

To amend the Trade Sanctions Reform and Export Enhancement Act of 2000 to clarify allowable payment terms for sales of agricultural commodities and products to Cuba.

1.

Clarification of payment terms for sales of agricultural commodities and products to Cuba under the Trade Sanctions Reform and Export Enhancement Act of 2000

Subparagraph (A) of section 908(b)(1) of the Trade Sanctions Reform and Export Enhancement Act of 2000 (22 U.S.C. 7207(b)(1)(A)) is amended to read as follows:

(A)

Payment of cash in advance, which as used herein means the payment by the purchaser of an agricultural commodity or product and the receipt of such payment by the seller prior to—

(i)

the transfer of title of such commodity or product to the purchaser; and

(ii)

the release of control of such commodity or product to the purchaser.

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