Page:United States Statutes at Large Volume 124.djvu/1230

 124 STAT. 1204 PUBLIC LAW 111–171—MAY 24, 2010 ‘‘(iii) AUTHORITY TO REDUCE QUANTITATIVE LIMITA- TION.—If, in any 1-year period with respect to which the President extends preferential treatment as described in this paragraph, the Commissioner reports to the President pursuant to clause (ii) regarding unlawful transshipments, the President— ‘‘(I) may modify the quantitative limitation under this paragraph as the President considers appropriate to account for such transshipments; and ‘‘(II) if the President modifies the limitation under subclause (I), shall publish notice of the modification in the Federal Register. ‘‘(E) CATEGORY DEFINED.—In this paragraph, the term ‘category’ means the number assigned under the U.S. Tex- tile and Apparel Category System of the Office of Textiles and Apparel of the Department of Commerce, as listed in the HTS under the applicable heading or subheading (as in effect on the day before the date of the enactment of this paragraph).’’. SEC. 6. EARNED IMPORT ALLOWANCE RULE. Section 213A(b)(4)(B)(ii)(I) of the Caribbean Basin Economic Recovery Act (19 U.S.C. 2703a(b)(4)(B)(ii)(I)) is amended by striking ‘‘three’’ and inserting ‘‘two’’. SEC. 7. EXTENSION OF VALUE -ADDED RULE. Section 213A of the Caribbean Basin Economic Recovery Act (19 U.S.C. 2703a), as amended by this Act, is further amended— (1) in subsection (a), by striking paragraph (1) and inserting the following: ‘‘(1) INITIAL APPLICABLE 1-YEAR PERIOD.—The term ‘initial applicable 1-year period’ means the 1-year period beginning on December 20, 2006.’’; and (2) in subsection (b)(1)— (A) in subparagraph (A), by striking ‘‘an applicable 1-year period’’ and inserting ‘‘the initial applicable 1-year period and any 1-year period thereafter’’; (B) in subparagraph (B)— (i) in clause (i)— (I) by striking ‘‘any applicable 1-year period’’ and inserting ‘‘the initial applicable 1-year period and any 1-year period thereafter’’; and (II) by striking ‘‘the applicable 1-year period’’ and inserting ‘‘that 1-year period’’; (ii) in clause (iv)(II)— (I) in the subclause heading, by striking ‘‘APPLICABLE’’; (II) by striking ‘‘In each of the second, third, fourth, and fifth applicable 1-year periods’’ and inserting ‘‘In any 1-year period after the initial applicable 1-year period’’; and (III) by striking ‘‘applicable 1-year period’’ each place it appears and inserting ‘‘1-year period’’; (iii) in clause (v)(I)— (I) in item (aa), by striking ‘‘, the second applicable 1-year period, and the third applicable Notice. Federal Register, publication. Time period. President.