Generalized System of Preferences Reform Act

[AI summary unavailable — showing source text] [Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [H.R. 7986 Introduced in House (IH)] <DOC> 118th CONGRESS 2d Session H. R. 7986 To modify and reauthorize the Generalized System of Preferences, and for other purposes. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES April 15, 2024 Mr. Smith of Nebraska introduced the following bill; which was referred to the Committee on Ways and Means _______________________________________________________________________ A BILL To modify and reauthorize the Generalized System of Preferences, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Generalized System of Preferences Reform Act''. SEC. 2. EXTENSION OF GENERALIZED SYSTEM OF PREFERENCES. (a) In General.--Section 505 of the Trade Act of 1974 (19 U.S.C. 2465) is amended by striking ``December 31, 2020'' and inserting ``December 31, 2030''. (b) Effective Date.-- (1) In general.--The amendment made by subsection (a) shall apply to articles entered on or after the 3…