ANNOUNCED AS TEMPORARYYes
On October 21, 2011 the president signed into law an untitled bill (H.R.2832) providing for the retroactive renewal of the Generalized System of Preferences (GSP). The program's authorization expired on December 31, 2010. The bill reauthorized the duty-free program for eligible developing countries through July 31, 2013, with retroactive application for liquidations and reliquidations to December 31, 2010 (i.e., the date of expiration of the last authorization).
The Senate approved the bill by a vote of 70-27 on September 21, 2011, and the House of Representatives approved it by a vote of 307-122 on October 12, 2011.
While the reauthorization is retroactive, allowing for duty-free treatment on otherwise GSP-eligible imports that entered since the expiration of the program, the bill specifies that no interest will be paid on any duties that are returned.
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