Page:United States Statutes at Large Volume 100 Part 3.djvu/422

 100 STAT. 2230

PUBLIC LAW 99-514—OCT. 22, 1986

• "^R- Tax". (3) EFFECTIVE DATE.—The amendments made by this subsection shall take effect on January 1, 1987. (b) EXTENSION OF REDUCTION IN TAX FOR FUEL USED BY TAXI-
 * l«r* place it appears and inserting in lieu thereof "Reduction in

CABS.—Paragraph (3) of section 6427(e) (relating to termination) is amended by striking out "September 30, 1985" and inserting in lieu thereof "September 30, 1988". SEC. 423. ETHYL ALCOHOL AND MIXTURES THE R E O F FOR F U E L USE.

(a) IN GENERAL.—Except as provided in subsection (b), no ethyl alcohol or a mixture thereof may be considered— (1) for purposes of general headnote 3(a) of the Tariff Schedules of the United States, to be— (A) the growth or product of an insular possession of the United States, j'^ft (B) manufactured or produced in an insular possession from materials which are the growth, product, or manufac-j,, ture of any such possession, or '.,<'/? (C) otherwise eligible for exemption from duty under such '^•"' • headnote as the growth or product of an insular possession; or (2) for purposes of section 213 of the Caribbean Basin Economic Recovery Act, to be— (A) an article that is wholly the growth, product, or manufacture of a beneficiary country, .•*'•'• (B) a new or different article of commerce which has been grown, produced, or manufactured in a beneficiary country, (C) a material produced in a beneficiary country, or (D) otherwise eligible for duty-free treatment under such ~Act as the growth, product, or manufacture of a beneficiary country; unless the ethyl alcohol or mixture thereof is an indigenous product vt 1 hat insular possession or beneficiary country. (b) EXCEPTION. —

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(1) Subject to the limitation in paragraph (2), subsection (a) shall not apply to ethyl alcohol that is imported into the United States during calendar years 1987 and 1988 and produced in— (A) an azeotropic distillation facility located in an insular 1 V possession of the United States or a beneficiary country, if that facility was established before, and in operation on, January 1, 1986, or (B) an azeotropic distillation facility— k' ajx>3 (i) at least 50 percent of the total value of the equipment and components of which were— (I) produced in the United States, and (II) owned by a corporation at least 50 percent of 'Wr-iM f s r I the total value of the outstanding shares of stock of which were owned by a United States person (or -Isl^i) V0. persons) on or before January 1, 1986, and ai (aiBifl (ii) substantially all of the equipment and components of which were, on or before January 1, 1986— (I) located in the United States under the possession or control of such corporation, (II) ready for shipment to, and installation in, a v< ' o, ,' beneficiary country, and , jnotxif':'-" (iii) which—
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