Page:United States Statutes at Large Volume 102 Part 2.djvu/315

 PUBLIC LAW 100-418—AUG. 23, 1988

102 STAT. 1319

SEC. 1910. ETHYL ALCOHOL AND MIXTURES FOR FUEL USE.

(a) IN GENERAL.—Subsection db) of section 423 of the Tax Reform Act of 1986 (19 U.S.C. 2703, note) is amended— (1) by striking out "and 1988" in paragraphs (1) and (2) and inserting in lieu thereof ", 1988, and 1989", (2) by striking out "an insular possession of the United States or" in paragraph (I)(A), (3) by striking out "January 1, 1986, or" in paragraph (I)(A) and inserting in lieu thereof "July 1, 1987,", (4) by inserting "or an insular possession of the United States" after "beneficiary country" in paragraph (IXBXiiXH), (5) by striking out the period at the end of paragraph (I)(B) and inserting in lieu thereof ", or", (6) by inserting the following new subparagraph after subparagraph (B) of paragraph (1): "(C) a distillation facility operated by a corporation which, before the date of enactment of the Omnibus Trade Act of 1987— "(i) has completed engineering and design of a full- Virgin Islands. scale fermentation facility in the United States Virgin Islands, and "(ii) has obtained authorization from authorities of the United States Virgin Islands to operate a full-scale fermentation facility.", and (7) by striking out "or (B)" in paragraph (2) and inserting in lieu thereof ", (B), or (€)". (b) STUDIES.—

(1) The United States International Trade Commission and the Comptroller General of the United States shall each immediately undertake a study r ^ a r d i n g whether the definition of indigenous ethyl alcohol or mixtures thereof used in applying section 423 of the Tax Reform Act of 1986 is consistent with, and will contribute to the achievement of, the stated policy of Congress to encourage the economic development of the beneficiary countries under the Caribbean Basin Economic Recovery Act and the insular possessions of the United States through the maximum utilization of the natural resources of those countries and possessions. Each study shall specifically include— (A) an assessment r ^ a r d i n g whether the indigenous product percentage requirements set forth in subsection (c)(2)(B) of such section 423 are economically feasible for ethyl alcohol producers; and (B) if the assessment under subparagraph (A) is negative, recommended modifications to the indigenous product percentage requirements that— (i) will ensure meaningful production and employment in the region, (ii) will discourage pass-through operations, and (iii) will not result in harm to producers of ethyl alcohol, or mixtures thereof, in the United States; and (C) an assessment of the effects of imports of ethyl alcohol, and mixtures thereof, from such beneficiary countries and possessions on producers of ethyl alcohol, and mixtures thereof, in the United States.

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