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Caribbean Basin Economic Recovery Act of 1983

Other short titles	Caribbean Basin Economic Recovery Act Enterprise Zone Act of 1983 Interest and Dividend Compliance Act of 1983 International Trade and Investment Act
Long title	An Act to promote economic revitalization and facilitate expansion of economic opportunities in the Caribbean Basin region, to provide for backup withholding of tax from interest and dividends, and for other purposes.
Enacted by	the 98th United States Congress
Effective	August 5, 1983
Citations
Public law	98-67
Statutes at Large	97  Stat.  369
Codification
Titles amended	19 U.S.C.: Customs Duties 26 U.S.C.: Internal Revenue Code
U.S.C. sections created	19 U.S.C. ch. 15 §§ 2701-2707
U.S.C. sections amended	I.R.C. ch. 1 § 1 et seq.
Legislative history
Introduced in the House as H.R. 2973 by Andrew Jacobs, Jr. ( D- IN) on May 11, 1983 Committee consideration by House Ways and Means Passed the House on May 17, 1983 ( 382-41) Passed the Senate on June 16, 1983 ( 86-4) Reported by the joint conference committee on July 27, 1983; agreed to by the House on July 28, 1983 ( 392-18) and by the Senate on July 28, 1983 ( 90-7) Signed into law by President Ronald Reagan on August 5, 1983

Caribbean Basin Economic Recovery Act of 1983 (CBERA) — P.L. 98-67 (August 5, 1983), Title II, authorized unilateral preferential trade and tax benefits for eligible Caribbean countries, including duty-free treatment of eligible products.

In pursuant of 97 Stat. 385, beneficiary countries qualified for duty-free treatment. ^[1]

Anguilla	Haiti
Antigua and Barbuda	Honduras
Bahamas	Jamaica
Barbados	Montserrat
Belize	Netherlands Antilles
British Virgin Islands	Nevis
Cayman Islands	Nicaragua
Costa Rica	Panama
Dominica	Saint Kitts
Dominican Republic	Saint Lucia
El Salvador	Saint Vincent and the Grenadines
Grenada	Suriname
Guatemala	Trinidad and Tobago
Guyana	Turks and Caicos Islands

Often referred to as the Caribbean Basin Initiative (CBI). Amended several times, the last substantive revisions were made in the Caribbean Basin Economic Recovery Expansion Act of 1990 (P.L. 101–382, Title II, August 20, 1990). This made trade benefits permanent (repealing the September 30, 1995 termination date). The law gives preferential trade and tax benefits for eligible Caribbean countries, including duty-free entry of eligible products. To be eligible, an article must be a product of a beneficiary country and imported directly from it, and at least 35% of its import value must have originated in one or more CBERA beneficiaries. Slightly different import value rules apply to articles entering from Puerto Rico and the Virgin Islands. The duty-free import of sugar and beef products is subject to a special eligibility requirement intended to ensure that increased production of sugar and beef will not adversely affect overall food production. Preferential tariff treatment does not extend to imports of: textiles and apparel subject to textile agreements, specified footwear, canned tuna, petroleum and its products, and watches or watch parts containing any material originating in countries denied normal trade relations ( most-favored-nation) trade status. Special criteria applied to the duty-free import of ethanol through FY2000. Import-sensitive products, not accorded duty-free tariff treatment, are eligible to enter at lower than normal trade relations tariff rates. These products include handbags, luggage, flat goods (such as wallets, change purses, and key and eyeglass cases), work gloves, and certain leather wearing apparel. ^{[2] [3] [4] [5]}

Caribbean Basin Economic Recovery Law Revisions

Amendments revising the duty-free treatment authorized by the Caribbean Basin Economic Recovery Act.

See also

Caribbean Basin Trade Partnership Act

Caribbean Basin Trade and Partnership Act

Latin American debt crisis

References

External links

• Reagan, Ronald W. (July 14, 1983). "Statement on House of Representatives Action on the Caribbean Basin Initiative Legislation - July 14, 1983". Internet Archive. Washington, D.C.: National Archives and Records Service. p. 1037.
• Reagan, Ronald W. (October 5, 1983). "Remarks at a White House Ceremony Marking the Implementation of the Caribbean Basin Initiative - October 5, 1983". Internet Archive. Washington, D.C.: National Archives and Records Service. pp. 1418–1420.
• Reagan, Ronald W. (November 30, 1983). "Implementation of the Caribbean Basin Economic Recovery Act - November 30, 1983" (PDF). 98 Stat. 3527 ~ Presidential Proclamation 5133. U.S. Government Publishing Office.
• Reagan, Ronald W. (December 1, 1983). "Statement by Deputy Press Secretary Speakes on Implementation of the Caribbean Basin Economic Recovery Act - December 1, 1983". Internet Archive. Washington, D.C.: National Archives and Records Service. pp. 1638–1639.
• Reagan, Ronald W. (December 29, 1983). "Letter to the Speaker of the House and the President of the Senate on the Designation of Certain Countries as Caribbean Basin Economic Recovery Act Beneficiaries - December 29, 1983". Internet Archive. Washington, D.C.: National Archives and Records Service. pp. 1752–1753.
• Reagan, Ronald W. (December 29, 1983). "To Amend Implementing the Caribbean Basin Economic Recovery Act - December 29, 1983" (PDF). 98 Stat. 3544 ~ Presidential Proclamation 5142. U.S. Government Publishing Office.
• Reagan, Ronald W. (March 14, 1985). "To Amend Proclamation 5133 Implementing the Caribbean Basin Economic Recovery Act – March 14, 1985" (PDF). 99 Stat. 2022 ~ Presidential Proclamation 5308. U.S. Government Publishing Office.
• Reagan, Ronald W. (April 11, 1986). "To Designate Aruba as a Beneficiary Country for Purposes of the Generalized System of Preferences and the Caribbean Basin Economic Recovery Act – April 11, 1986" (PDF). 100 Stat. 4426 ~ Presidential Proclamation 5458. U.S. Government Publishing Office.
• Reagan, Ronald W. (March 23, 1988). "Modifying the Implementation of the Generalized System of Preferences and the Caribbean Basin Economic Recovery Act – March 23, 1988" (PDF). 102 Stat. 4966 ~ Presidential Proclamation 5779. U.S. Government Publishing Office.

 This article incorporates public domain material from Jasper Womach. Report for Congress: Agriculture: A Glossary of Terms, Programs, and Laws, 2005 Edition (PDF). Congressional Research Service.