Detailed Summary

<b>(This measure has not been amended since it was passed by the House on June 27, 2008. The summary of that version is repeated here.)</b>

Amends the Andean Trade Preference Act to extend through February 29, 2008, the duty-free treatment or other preferential treatment for beneficiary countries (Bolivia, Ecuador, Colombia, and Peru) under the Act. Repeals certain provisions subjecting the extension of such treatment to such countries to certain conditions.

Extends preferential treatment through FY2008 to apparel articles assembled in one or more beneficiary countries from regional fabrics or regional components, and other type apparel (brassieres) that are both cut and sewn or otherwise assembled in the United States, or one or more beneficiary countries, or both, with certain limitations.

Amends the Consolidated Omnibus Budget Reconciliation Act of 1985 to extend certain customs fees for the processing of merchandise entered into the United States through October 14, 2014.

Amends the Tax Increase Prevention and Reconciliation Act of 2005 to increase the amount of any corporate estimated tax installment otherwise due by a corporation with assets of not less than $1 billion in July, August, or September of 2012 to 114.50% of such amount.

Status of the Legislation

Latest Major Action: 6/30/2007: Signed by President.

Points in Favor

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Points Against

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