HR 3476 IHCommentsClose CommentsPermalink

112th CONGRESSCommentsClose CommentsPermalink

1st SessionCommentsClose CommentsPermalink

H. R. 3476CommentsClose CommentsPermalink

To provide incentives for economic growth, and for other purposes.CommentsClose CommentsPermalink

IN THE HOUSE OF REPRESENTATIVESCommentsClose CommentsPermalink

November 18, 2011CommentsClose CommentsPermalink

Mr. HANNA (for himself and Mr. KEATING) introduced the following bill; which was referred to the Committee on Ways and Means, and in addition to the Committees on the Judiciary and Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concernedCommentsClose CommentsPermalink

A BILLCommentsClose CommentsPermalink

To provide incentives for economic growth, and for other purposes.CommentsClose CommentsPermalink

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,CommentsClose CommentsPermalink

SECTION 1. SHORT TITLE; TABLE OF CONTENTS.

(a) Short Title- This Act may be cited as the ‘American Growth, Recovery, Empowerment, and Entrepreneurship Act’ or the ‘AGREE Act’.CommentsClose CommentsPermalink





(b) Table of Contents- The table of contents for this Act is as follows:CommentsClose CommentsPermalink





Sec. 1. Short title; table of contents.CommentsClose CommentsPermalink

TITLE I--EXTENDING TAX RELIEF FOR SMALL BUSINESSES

Sec. 101. Extension of bonus depreciation; temporary 100 percent expensing for certain business assets.CommentsClose CommentsPermalink





Sec. 102. Extension of increased expensing limitations and treatment of certain real property as section 179 property.CommentsClose CommentsPermalink





Sec. 103. Temporary exclusion of 100 percent of gain on certain small business stock.CommentsClose CommentsPermalink

TITLE II--ENCOURAGING CUTTING-EDGE RESEARCH AND INNOVATION

Sec. 201. Extension of research credit; alternative simplified research credit increased and made permanent.CommentsClose CommentsPermalink





Sec. 202. Enhanced research credit for domestic manufacturers.CommentsClose CommentsPermalink

TITLE III--PROVIDING COMMON-SENSE TAX INCENTIVES FOR VETERANS

Sec. 301. Veterans franchise fee credit.CommentsClose CommentsPermalink





Sec. 302. Publication of information by Department of Veterans Affairs and Small Business Administration.CommentsClose CommentsPermalink

TITLE IV--REGULATORY RELIEF FOR SMALL COMPANIES

Sec. 401. Exemption from the internal control reporting and assessment requirements.CommentsClose CommentsPermalink

TITLE V--REDUCING BARRIERS TO HIGH-SKILLED LEGAL IMMIGRATION

Sec. 501. Numerical limitation to any single foreign state.CommentsClose CommentsPermalink

TITLE VI--PROTECTING AMERICAN BUSINESS AGAINST ILLEGAL COUNTERFEITING

Sec. 601. Preventing the importation of counterfeit products and infringing devices.CommentsClose CommentsPermalink

TITLE I--EXTENDING TAX RELIEF FOR SMALL BUSINESSESCommentsClose CommentsPermalink

SEC. 101. EXTENSION OF BONUS DEPRECIATION; TEMPORARY 100 PERCENT EXPENSING FOR CERTAIN BUSINESS ASSETS.

(a) In General- Paragraph (2) of section 168(k) of the Internal Revenue Code of 1986 is amended--CommentsClose CommentsPermalink





(1) by striking ‘January 1, 2014’ in subparagraph (A)(iv) and inserting ‘January 1, 2016’, andCommentsClose CommentsPermalink





(2) by striking ‘January 1, 2013’ each place it appears and inserting ‘January 1, 2015’.CommentsClose CommentsPermalink





(b) Temporary 100 Percent Expensing- Paragraph (5) of section 168(k) of the Internal Revenue Code of 1986 is amended--CommentsClose CommentsPermalink





(1) by striking ‘2013’ and inserting ‘2016’, andCommentsClose CommentsPermalink





(2) by striking ‘2012’ each place it appears in the text and heading and inserting ‘2015’.CommentsClose CommentsPermalink





(c) Extension of Election To Accelerate the AMT Credit in Lieu of Bonus Depreciation-CommentsClose CommentsPermalink





(1) IN GENERAL- Subclause (II) of section 168(k)(4)(D)(iii) of the Internal Revenue Code of 1986 is amended by striking ‘2013’ and inserting ‘2015’.CommentsClose CommentsPermalink





(2) ROUND 3 EXTENSION PROPERTY- Paragraph (4) of section 168(k) of such Code is amended by adding at the end the following new subparagraph:CommentsClose CommentsPermalink





‘(J) SPECIAL RULES FOR ROUND 3 EXTENSION PROPERTY-CommentsClose CommentsPermalink





‘(i) IN GENERAL- In the case of round 3 extension property, this paragraph shall be applied without regard to--CommentsClose CommentsPermalink





‘(I) the limitation described in subparagraph (B)(i) thereof, andCommentsClose CommentsPermalink





‘(II) the business credit increase amount under subparagraph (E)(iii) thereof.CommentsClose CommentsPermalink





‘(ii) TAXPAYERS PREVIOUSLY ELECTING ACCELERATION- In the case of a taxpayer who made the election under subparagraph (A) for its first taxable year ending after March 31, 2008, a taxpayer who made the election under subparagraph (H)(ii) for its first taxable year ending after December 31, 2008, or a taxpayer who made the election under subparagraph (I)(iii) for its first taxable year ending after December 31, 2010--CommentsClose CommentsPermalink





‘(I) the taxpayer may elect not to have this paragraph apply to round 3 extension property, butCommentsClose CommentsPermalink





‘(II) if the taxpayer does not make the election under subclause (I), in applying this paragraph to the taxpayer the bonus depreciation amount, maximum amount, and maximum increase amount shall be computed and applied to eligible qualified property which is round 3 extension property.CommentsClose CommentsPermalink





The amounts described in subclause (II) shall be computed separately from any amounts computed with respect to eligible qualified property which is not round 2 extension property.CommentsClose CommentsPermalink





‘(iii) TAXPAYERS NOT PREVIOUSLY ELECTING ACCELERATION- In the case of a taxpayer who neither made the election under subparagraph (A) for its first taxable year ending after March 31, 2008, nor made the election under subparagraph (H)(ii) for its first taxable year ending after December 31, 2008, nor made the election under subparagraph (I)(iii) for its first taxable year ending after December 31, 2010--CommentsClose CommentsPermalink





‘(I) the taxpayer may elect to have this paragraph apply to its first taxable year ending after December 31, 2011, and each subsequent taxable year, andCommentsClose CommentsPermalink





‘(II) if the taxpayer makes the election under subclause (I), this paragraph shall only apply to eligible qualified property which is round 3 extension property.CommentsClose CommentsPermalink





‘(iv) ROUND 3 EXTENSION PROPERTY- For purposes of this subparagraph, the term ‘round 3 extension property’ means property which is eligible qualified property solely by reason of the extension of the application of the special allowance under paragraph (1) pursuant to the amendments made by section 101(a) of the American Growth, Recovery, Empowerment, and Entrepreneurship Act (and the application of such extension to this paragraph pursuant to the amendment made by section 101(c)(1) of such Act).’.CommentsClose CommentsPermalink





(d) Conforming Amendments-CommentsClose CommentsPermalink





(1) The heading for subsection (k) of section 168 of the Internal Revenue Code of 1986 is amended by striking ‘January 1, 2013’ and inserting ‘January 1, 2016’.CommentsClose CommentsPermalink





(2) The heading for clause (ii) of section 168(k)(2)(B) of such Code is amended by striking ‘PRE-JANUARY 1, 2013’ and inserting ‘PRE-JANUARY 1, 2016’.CommentsClose CommentsPermalink





(3) Paragraph (5) of section 168(l) of such Code is amended--CommentsClose CommentsPermalink





(A) by striking ‘and’ at the end of subparagraph (A),CommentsClose CommentsPermalink





(B) by redesignating subparagraph (C) as subparagraph (B), andCommentsClose CommentsPermalink





(C) by inserting after subparagraph (A) the following new subparagraph:CommentsClose CommentsPermalink





‘(B) by substituting ‘January 1, 2013’ for ‘January 1, 2016’ in clause (i) thereof, and’.CommentsClose CommentsPermalink





(4) Subparagraph (C) of section 168(n)(2) of such Code is amended by striking ‘January 1, 2013’ and inserting ‘January 1, 2016’.CommentsClose CommentsPermalink





(5) Subparagraph (D) of section 1400L(b)(2) of such Code is amended by striking ‘January 1, 2013’ and inserting ‘January 1, 2016’.CommentsClose CommentsPermalink





(6) Subparagraph (B) of section 1400N(d)(3) of such Code is amended by striking ‘January 1, 2013’ and inserting ‘January 1, 2016’.CommentsClose CommentsPermalink





(e) Effective Date- The amendments made by this section shall apply to property placed in service after December 31, 2011, in taxable years ending after such date.CommentsClose CommentsPermalink

SEC. 102. EXTENSION OF INCREASED EXPENSING LIMITATIONS AND TREATMENT OF CERTAIN REAL PROPERTY AS SECTION 179 PROPERTY.

(a) In General- Section 179(b) of the Internal Revenue Code of 1986 is amended--CommentsClose CommentsPermalink





(1) by striking ‘2010 or 2011’ each place it appears in paragraph (1)(B) and (2)(B) and inserting ‘2010, 2011, 2012, 2013, or 2014’,CommentsClose CommentsPermalink





(2) by striking ‘2012’ each place it appears in paragraph (1)(C) and (2)(C) and inserting ‘2015’, andCommentsClose CommentsPermalink





(3) by striking ‘2012’ each place it appears in paragraph (1)(D) and (2)(D) and inserting ‘2015’.CommentsClose CommentsPermalink





(b) Inflation Adjustment- Subparagraph (A) of section 179(b)(6) of the Internal Revenue Code of 1986 is amended by striking ‘2012’ and inserting ‘2015’.CommentsClose CommentsPermalink





(c) Computer Software- Section 179(d)(1)(A)(ii) of the Internal Revenue Code of 1986 is amended by striking ‘2013’ and inserting ‘2016’.CommentsClose CommentsPermalink





(d) Election- Section 179(c)(2) of the Internal Revenue Code of 1986 is amended by striking ‘2013’ and inserting ‘2016’.CommentsClose CommentsPermalink





(e) Special Rules for Treatment of Qualified Real Property- Section 179(f)(1) of the Internal Revenue Code of 1986 is amended by striking ‘2010 or 2011’ and inserting ‘2010, 2011, 2012, 2013, or 2014’.CommentsClose CommentsPermalink





(f) Effective Date- The amendments made by this section shall apply to taxable years beginning after December 31, 2011.CommentsClose CommentsPermalink

SEC. 103. TEMPORARY EXCLUSION OF 100 PERCENT OF GAIN ON CERTAIN SMALL BUSINESS STOCK.

(a) In General- Paragraph (4) of section 1202(a) of the Internal Revenue Code of 1986 is amended--CommentsClose CommentsPermalink





(1) by striking ‘January 1, 2012’ and inserting ‘January 1, 2015’, andCommentsClose CommentsPermalink





(2) by striking ‘AND 2011’ in the heading thereof and inserting ‘, 2011, 2012, 2013, AND 2014’.CommentsClose CommentsPermalink





(b) Effective Date- The amendments made by this section shall apply to stock acquired after December 31, 2011.CommentsClose CommentsPermalink

TITLE II--ENCOURAGING CUTTING-EDGE RESEARCH AND INNOVATIONCommentsClose CommentsPermalink

SEC. 201. EXTENSION OF RESEARCH CREDIT; ALTERNATIVE SIMPLIFIED RESEARCH CREDIT INCREASED AND MADE PERMANENT.

(a) Extension of Credit-CommentsClose CommentsPermalink





(1) IN GENERAL- Subparagraph (B) of section 41(h)(1) of the Internal Revenue Code of 1986 is amended by striking ‘December 31, 2011’ and inserting ‘December 31, 2012’.CommentsClose CommentsPermalink





(2) CONFORMING AMENDMENT- Subparagraph (D) of section 45C(b)(1) of such Code is amended by striking ‘December 31, 2011’ and inserting ‘December 31, 2012’.CommentsClose CommentsPermalink





(3) EFFECTIVE DATE- The amendments made by this subsection shall apply to amounts paid or incurred after December 31, 2011.CommentsClose CommentsPermalink





(b) Alternative Simplified Research Credit Increased and Made Permanent-CommentsClose CommentsPermalink





(1) INCREASED CREDIT- Subparagraph (A) of section 41(c)(5) of the Internal Revenue Code of 1986 is amended by striking ‘14 percent (12 percent in the case of taxable years ending before January 1, 2009)’ and inserting ‘20 percent’.CommentsClose CommentsPermalink





(2) CREDIT MADE PERMANENT-CommentsClose CommentsPermalink





(A) IN GENERAL- Subsection (h) of section 41 of such Code is amended by redesignating the paragraph (2) relating to computation of taxable year in which credit terminates as paragraph (4) and by inserting before such paragraph the following new paragraph:CommentsClose CommentsPermalink





‘(3) TERMINATION NOT TO APPLY TO ALTERNATIVE SIMPLIFIED CREDIT- Paragraph (1) shall not apply to the credit determined under subsection (c)(5).’.CommentsClose CommentsPermalink





(B) CONFORMING AMENDMENT- Paragraph (4) of section 41(h) of such Code, as redesignated by subparagraph (A), is amended to read as follows:CommentsClose CommentsPermalink





‘(4) COMPUTATION FOR TAXABLE YEAR IN WHICH CREDIT TERMINATES- In the case of any taxable year with respect to which this section applies to a number of days which is less than the total number of days in such taxable year, the amount determined under subsection (c)(1)(B) with respect to such taxable year shall be the amount which bears the same ratio to such amount (determined without regard to this paragraph) as the number of days in such taxable year to which this section applies bears to the total number of days in such taxable year.’.CommentsClose CommentsPermalink





(3) EFFECTIVE DATE- The amendments made by this subsection shall apply to taxable years ending after December 31, 2010.CommentsClose CommentsPermalink

SEC. 202. ENHANCED RESEARCH CREDIT FOR DOMESTIC MANUFACTURERS.

(a) In General- Section 41, as amended by section 201, of the Internal Revenue Code of 1986 is amended by redesignating subsection (h) as subsection (i) and by inserting after subsection (f) the following new subsection:CommentsClose CommentsPermalink





‘(g) Enhanced Credit for Domestic Manufacturers-CommentsClose CommentsPermalink





‘(1) IN GENERAL- In the case of a qualified domestic manufacturer, this section shall be applied by increasing the 20 percent amount in subsection (a)(1) by the bonus amount.CommentsClose CommentsPermalink





‘(2) QUALIFIED DOMESTIC MANUFACTURER- For purposes of this subsection--CommentsClose CommentsPermalink





‘(A) IN GENERAL- The term ‘qualified domestic manufacturer’ means a taxpayer who has domestic production gross receipts which are more than 50 percent of total production gross receipts.CommentsClose CommentsPermalink





‘(B) DOMESTIC PRODUCTION GROSS RECEIPTS- The term ‘domestic production gross receipts’ has the meaning given to such term under section 199(c)(4).CommentsClose CommentsPermalink





‘(C) TOTAL PRODUCTION GROSS RECEIPTS- The term ‘total production gross receipts’ means the gross receipts of the taxpayer which are described in section 199(c)(4), determined--CommentsClose CommentsPermalink





‘(i) without regard to whether property described in subparagraph (A)(i)(I) or (A)(i)(III) thereof was manufactured, produced, grown, or extracted in the United States,CommentsClose CommentsPermalink





‘(ii) by substituting ‘any property described in section 168(f)(3)’ for ‘any qualified film’ in subparagraph (A)(i)(II) thereof, andCommentsClose CommentsPermalink





‘(iii) without regard to whether any construction described in subparagraph (A)(ii) thereof or services described in subparagraph (A)(iii) thereof were performed in the United States.CommentsClose CommentsPermalink





‘(3) BONUS AMOUNT- For purposes of paragraph (1), the bonus amount shall be determined as follows:CommentsClose CommentsPermalink

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‘If the percentage of total production gross receipts which are domestic production gross receipts is: The bonus amount is: CommentsClose CommentsPermalink

                                                            More than 50 percent and not more than 60 percent         2 percentage points CommentsClose CommentsPermalink

                                                            More than 60 percent and not more than 70 percent         4 percentage points CommentsClose CommentsPermalink

                                                            More than 70 percent and not more than 80 percent         6 percentage points CommentsClose CommentsPermalink

                                                            More than 80 percent and not more than 90 percent         8 percentage points CommentsClose CommentsPermalink

                                                                                         More than 90 percent     10 percentage points.’. CommentsClose CommentsPermalink

-------------------------------------------------------------------------------- CommentsClose CommentsPermalink

(b) Effective Date- The amendment made by this section shall apply to expenditures paid or incurred in taxable years beginning after December 31, 2011.CommentsClose CommentsPermalink

TITLE III--PROVIDING COMMON-SENSE TAX INCENTIVES FOR VETERANSCommentsClose CommentsPermalink

SEC. 301. VETERANS FRANCHISE FEE CREDIT.

(a) In General- Subpart D of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by adding at the end the following new section:CommentsClose CommentsPermalink

‘SEC. 45S. VETERANS FRANCHISE FEE CREDIT.

‘(a) Veterans Franchise Fee Credit-CommentsClose CommentsPermalink





‘(1) IN GENERAL- For purposes of section 38, the veterans franchise fee credit determined under this section for the taxable year is an amount equal to 25 percent of the qualified franchise fees paid or incurred by a veteran during the taxable year.CommentsClose CommentsPermalink





‘(2) LIMITATION- The amount allowed as a credit under paragraph (1) with respect to the purchase of any franchise shall not exceed $100,000.CommentsClose CommentsPermalink





‘(b) Reduction Where Franchise Not 100 Percent Veteran-Owned- In the case of any franchise in which veterans do not own 100 percent of the stock or of the capital or profits interests of the franchise, the credit under subsection (a) shall be the credit amount determined under such subsection, multiplied by the same ratio as--CommentsClose CommentsPermalink





‘(1) the stock or capital or profits interests of the franchise held by veterans, bearsCommentsClose CommentsPermalink





‘(2) to the total stock or capital or profits interests of the franchise.CommentsClose CommentsPermalink





For purposes of this subsection, the spouse of a veteran shall be treated as a veteran.CommentsClose CommentsPermalink





‘(c) Qualified Franchise Fee- For purposes of this section, the term ‘qualified franchise fee’ means any one-time fee required by the franchisor when entering into a franchise agreement with a veteran as the franchisee.CommentsClose CommentsPermalink





‘(d) Other Definitions- For purposes of this section, the terms ‘franchise’, ‘franchisee’, ‘franchisor’, and ‘franchise fee’ have the meanings given such terms in part 436 of title 16, Code of Federal Regulations (as in effect on January 1, 2009).CommentsClose CommentsPermalink





‘(e) Veteran- The term ‘veteran’ has the meaning given such term by section 101 of title 38, United States Code.CommentsClose CommentsPermalink





‘(f) Election- This section shall not apply to a taxpayer for any taxable year if such taxpayer elects to have this section not apply for such taxable year.’.CommentsClose CommentsPermalink





(b) Credit To Be Part of General Business Credit- Section 38(b) of the Internal Revenue Code of 1986 is amended by striking ‘plus’ at the end of paragraph (35), by striking the period at the end of paragraph (36) and inserting ‘, plus’, and by adding at the end the following new paragraph:CommentsClose CommentsPermalink





‘(37) the veterans franchise fee credit determined under section 45S(a).’.CommentsClose CommentsPermalink





(c) Clerical Amendment- The table of sections for subpart D of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by adding at the end the following new item:CommentsClose CommentsPermalink





‘Sec. 45S. Veterans franchise fee credit.’.CommentsClose CommentsPermalink





(d) Effective Date- The amendments made by this section shall apply to taxable years ending after December 31, 2010.CommentsClose CommentsPermalink

SEC. 302. PUBLICATION OF INFORMATION BY DEPARTMENT OF VETERANS AFFAIRS AND SMALL BUSINESS ADMINISTRATION.

The Administrator of the Small Business Administration and the Secretary of Veterans Affairs shall publicize in mailings and brochures sent to veterans service organizations and veteran advocacy groups information regarding discounted franchise fees under section 45S of the Internal Revenue Code of 1986 and other information about the program established under amendments made by this Act.CommentsClose CommentsPermalink

TITLE IV--REGULATORY RELIEF FOR SMALL COMPANIESCommentsClose CommentsPermalink

SEC. 401. EXEMPTION FROM THE INTERNAL CONTROL REPORTING AND ASSESSMENT REQUIREMENTS.

(a) In General- Section 404 of the Sarbanes-Oxley Act of 2002 (15 U.S.C. 7262) is amended by adding at the end the following:CommentsClose CommentsPermalink





‘(d) Exemption- Subsection (b) shall not apply to any issuer until the earlier of--CommentsClose CommentsPermalink





‘(1) such time as the issuer has total revenues of $250,000,000; andCommentsClose CommentsPermalink





‘(2) the expiration of the 5-year period beginning on the date of the initial public offering of that issuer.’.CommentsClose CommentsPermalink





(b) Study and Report-CommentsClose CommentsPermalink





(1) STUDY- The Securities and Exchange Commission shall conduct a study--CommentsClose CommentsPermalink





(A) to determine how the Commission could reduce the burden of complying with section 404(b) of the Sarbanes-Oxley Act of 2002 for companies, the market capitalization of which is between $250,000,000 and $1,000,000,000 for the relevant reporting period while maintaining investor protections for such companies; andCommentsClose CommentsPermalink





(B) to assess the annual cost of compliance with that section 404(b) for all companies whose market capitalization is less than or equal to $1,000,000,000.CommentsClose CommentsPermalink





(2) REPORT- The Securities and Exchange Commission shall submit a report to Congress on the results of the study conducted under paragraph (1) not later than 9 months after the date of enactment of this Act.CommentsClose CommentsPermalink

TITLE V--REDUCING BARRIERS TO HIGH-SKILLED LEGAL IMMIGRATIONCommentsClose CommentsPermalink

SEC. 501. NUMERICAL LIMITATION TO ANY SINGLE FOREIGN STATE.

(a) In General- Section 202(a)(2) of the Immigration and Nationality Act (8 U.S.C. 1152(a)(2)) is amended--CommentsClose CommentsPermalink





(1) in the paragraph heading, by striking ‘AND EMPLOYMENT-BASED’;CommentsClose CommentsPermalink





(2) by striking ‘(3), (4), and (5),’ and inserting ‘(3) and (4),’;CommentsClose CommentsPermalink





(3) by striking ‘subsections (a) and (b) of section 203’ and inserting ‘section 203(a)’;CommentsClose CommentsPermalink





(4) by striking ‘7’ and inserting ‘15’; andCommentsClose CommentsPermalink





(5) by striking ‘such subsections’ and inserting ‘such section’.CommentsClose CommentsPermalink





(b) Conforming Amendments- Section 202 of the Immigration and Nationality Act (8 U.S.C. 1152) is amended--CommentsClose CommentsPermalink





(1) in subsection (a)(3), by striking ‘both subsections (a) and (b) of section 203’ and inserting ‘section 203(a)’;CommentsClose CommentsPermalink





(2) by striking subsection (a)(5); andCommentsClose CommentsPermalink





(3) by amending subsection (e) to read as follows:CommentsClose CommentsPermalink





‘(e) Special Rules for Countries at Ceiling- If it is determined that the total number of immigrant visas made available under section 203(a) to natives of any single foreign state or dependent area will exceed the numerical limitation specified in subsection (a)(2) in any fiscal year, in determining the allotment of immigrant visa numbers to natives under section 203(a), visa numbers with respect to natives of that state or area shall be allocated (to the extent practicable and otherwise consistent with this section and section 203) in a manner so that, except as provided in subsection (a)(4), the proportion of the visa numbers made available under each of paragraphs (1) through (4) of section 203(a) is equal to the ratio of the total number of visas made available under the respective paragraph to the total number of visas made available under section 203(a).’.CommentsClose CommentsPermalink





(c) Country-Specific Offset- Section 2 of the Chinese Student Protection Act of 1992 (8 U.S.C. 1255 note) is amended--CommentsClose CommentsPermalink





(1) in subsection (a), by striking ‘subsection (e))’ and inserting ‘subsection (d))’; andCommentsClose CommentsPermalink





(2) by striking subsection (d) and redesignating subsection (e) as subsection (d).CommentsClose CommentsPermalink





(d) Effective Date- The amendments made by this section shall take effect as if enacted on September 30, 2011, and shall apply to fiscal years beginning with fiscal year 2012.CommentsClose CommentsPermalink





(e) Transition Rules for Employment-Based Immigrants-CommentsClose CommentsPermalink





(1) IN GENERAL- Subject to the succeeding paragraphs of this subsection and notwithstanding title II of the Immigration and Nationality Act (8 U.S.C. 1151 et seq.), the following rules shall apply:CommentsClose CommentsPermalink





(A) For fiscal year 2012, 15 percent of the immigrant visas made available under each of paragraphs (2) and (3) of section 203(b) of such Act (8 U.S.C. 1153(b)) shall be allotted to immigrants who are natives of a foreign state or dependent area that was not one of the two states with the largest aggregate numbers of natives obtaining immigrant visas during fiscal year 2010 under such paragraphs.CommentsClose CommentsPermalink





(B) For fiscal year 2013, 10 percent of the immigrant visas made available under each of such paragraphs shall be allotted to immigrants who are natives of a foreign state or dependent area that was not one of the two states with the largest aggregate numbers of natives obtaining immigrant visas during fiscal year 2011 under such paragraphs.CommentsClose CommentsPermalink





(C) For fiscal year 2014, 10 percent of the immigrant visas made available under each of such paragraphs shall be allotted to immigrants who are natives of a foreign state or dependent area that was not one of the two states with the largest aggregate numbers of natives obtaining immigrant visas during fiscal year 2012 under such paragraphs.CommentsClose CommentsPermalink





(2) PER-COUNTRY LEVELS-CommentsClose CommentsPermalink





(A) RESERVED VISAS- With respect to the visas reserved under each of subparagraphs (A) through (C) of paragraph (1), the number of such visas made available to natives of any single foreign state or dependent area in the appropriate fiscal year may not exceed 25 percent (in the case of a single foreign state) or 2 percent (in the case of a dependent area) of the total number of such visas.CommentsClose CommentsPermalink





(B) UNRESERVED VISAS- With respect to the immigrant visas made available under each of paragraphs (2) and (3) of section 203(b) of such Act (8 U.S.C. 1153(b)) and not reserved under paragraph (1), for each of fiscal years 2012, 2013, and 2014, not more than 85 percent shall be allotted to immigrants who are natives of any single foreign state.CommentsClose CommentsPermalink





(3) SPECIAL RULE TO PREVENT UNUSED VISAS- If, with respect to fiscal year 2012, 2013, or 2014, the operation of paragraphs (1) and (2) of this subsection would prevent the total number of immigrant visas made available under paragraph (2) or (3) of section 203(b) of such Act (8 U.S.C. 1153(b)) from being issued, such visas may be issued during the remainder of such fiscal year without regard to paragraphs (1) and (2) of this subsection.CommentsClose CommentsPermalink





(4) RULES FOR CHARGEABILITY- Section 202(b) of such Act (8 U.S.C. 1152(b)) shall apply in determining the foreign state to which an alien is chargeable for purposes of this subsection.CommentsClose CommentsPermalink

TITLE VI--PROTECTING AMERICAN BUSINESS AGAINST ILLEGAL COUNTERFEITINGCommentsClose CommentsPermalink

SEC. 601. PREVENTING THE IMPORTATION OF COUNTERFEIT PRODUCTS AND INFRINGING DEVICES.

Notwithstanding section 1905 of title 18, United States Code--CommentsClose CommentsPermalink





(1) if United States Customs and Border Protection suspects a product of being imported or exported in violation of section 42 of the Act entitled ‘An Act to provide for the registration and protection of trademarks used in commerce, to carry out the provisions of certain international conventions, and for other purposes’, approved July 5, 1946 (commonly referred to as the ‘Trademark Act of 1946’) (15 U.S.C. 1124), and subject to any applicable bonding requirements, the Secretary of Homeland Security is authorized to share information on, and unredacted samples of, products and their packaging and labels, or photos of such products, packaging and labels, with the rightholders of the trademark suspected of being copied or simulated, for purposes of determining whether the products are prohibited from importation under that section; andCommentsClose CommentsPermalink





(2) upon seizure of material by United States Customs and Border Protection imported in violation of subsection (a)(2) or subsection (b) of section 1201 of title 17, United States Code, the Secretary of Homeland Security is authorized to share information about, and provide samples to affected parties, subject to any applicable bonding requirements, as to the seizure of material designed to circumvent technological measures or protection afforded by a technological measure that controls access to or protects the owner’s work protected by copyright under such title.CommentsClose CommentsPermalink