Page:United States Statutes at Large Volume 96 Part 2.djvu/971

 96 STAT. 2333

PUBLIC LAW 97-446—JAN. 12, 1983

wages on the assembly during the preceding calendar year of units in excess of 300,000 but not in excess of 750,000. "(iii) The aggregate amount of all certificates which are issued Certificates. during any calendar year shall not exceed an amount which bears the same ratio to $5,000,000 as— "(I) the gross national product of the United States (as determined by the Secretary of Commerce) for the preceding calendar year, bears to— "(II) the gross national product of the United States (as so determined) for 1982. "(iv)(I) Subject to the provision of clause (II), if the amount of the certificates issued under subparagraph (i) would exceed the limit under subparagraph (iii), the applicable amount of each producer's certificate shall be reduced proportionately by the amount of such excess. "(II) The applicable amount of any producer's certificate shall not be reduced below the amount determined under subparagraph (iiXD, except that if the application of this clause would result in the aggregate amount of the certificates exceeding the limit under subparagraph (iii), the applicable amount of each producer's certificate shall again be reduced proportionately by the amount of the excess determined after application of this clause. "(v) Any certificate issued under subparagraph (i) shall entitle the Refund. certificate holder to secure the refund of duties equal to the face value of the certificate on watches, watch movements (including solid state timepieces) and, with the exception of discrete cases, parts therefor imported into the customs territonr of the United States by the certificate holder. Such refunds shall be made under regulations issued by the Treasury Department. Not more than 5 percent of such refunds may be retained as a reimbursement to the Customs Service for the administrative costs of making the refunds. "(vi) Any certificate issued under subparagraph (i), or any portion thereof, shall be negotiable. "(vii) Any certificate issued under subparagraph (i) shall expire 1 Expiration of year from the date of issuance and may be applied against duties on certificate. imports of watches and watch movements the entry of which were made within 2 years prior to the date of issuance of the certificate. "(viii) For purposes of determining the applicable amount of any producer's certificate to be issued during calendar year 1983, the greater of— "(I) the producer's creditable wages for calendar year 1982, or "(II) 60 percent of the producer s creditable wages for calendar year 1981, shall be considered the creditable wages for calendar year 1982. "(i) The Secretaries are authorized to issue such regulations, not Regulations. inconsistent with the provisions of this headnote, as they determine necessary to carry out their respective duties under this headnote. Such regulations shall include minimum assembly requirements. Any duty-free entry determined not to have been made in accordance with applicable regulations shall be subject to the applicable civil remedies and criminal sanctions, and, in addition, the Secretaries may cancel or restrict the license or certificate of any manufacturer found in willful violation of the regulations.". SEC. 111. PIPE ORGAN PARTS.

Items 726.60 and 726.62 are amended to read as follows: 726.60 726.62

Player actions and parts thereof Other

Free
 * Free

60% ad val. I 35% ad val.

19 USC 1202 note.

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