The Congressional Record
23 March 2004
SA 2907. Mr. McCONNELL submitted an amendment intended to be proposed
by him to the bill S. 1637, to amend the Internal Revenue Code of 1986
to comply with the World Trade Organization rulings on the FSC/ETI
benefit in a manner that preserves jobs and production activities in
the United States, to reform and simplify the international taxation
rules of the United States, and for other purposes; which was ordered
to lie on the table; as follows:
At the end of the amendment, add the following:
TITLE V–EXTENSION OF NORMAL TRADE RELATIONS TO ARMENIA
SEC. 501. FINDINGS.
Congress makes the following findings:
(1) Armenia has been found to be in full compliance with
the freedom of emigration requirements under title IV of the
Trade Act of 1974.
(2) Armenia acceded to the World Trade Organization on
February 5, 2003.
(3) Since declaring its independence from the Soviet Union
in 1991, Armenia has made considerable progress in enacting
free-market reforms within a stable democratic framework.
(4) Armenia has demonstrated a strong desire to build a
friendly and cooperative relationship with the United States
and has concluded many bilateral treaties and agreements with
the United States.
(5) United States-Armenia bilateral trade for 2002 totaled
more than $134,200,000.
SEC. 502. TERMINATION OF APPLICATION OF TITLE IV OF THE TRADE
ACT OF 1974 TO ARMENIA.
(a) Presidential Determinations and Extensions of
Nondiscriminatory Treatment.–Notwithstanding any provision
of title IV of the Trade Act of 1974 (19 U.S.C. 2431 et
seq.), the President may–
(1) determine that such title should no longer apply to
Armenia; and
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(2) after making a determination under paragraph (1) with
respect to Armenia, proclaim the extension of
nondiscriminatory treatment (normal trade relations
treatment) to the products of that country.
(b) Termination of Application of Title IV.–On and after
the effective date of the extension under subsection (a)(2)
of nondiscriminatory treatment to the products of Armenia,
title IV of the Trade Act of 1974 shall cease to apply to
that country.