,,ii  #aaeth ,,congress  #ast ,session  
,s4 #bjcf  ,,in ,,the ,,senate ,,of     
,,the ,,united ,,states  ,october #ca1  
#bjag,mr4 ,donnelly 7for himself1 ,mrs4 
,ernst1 and ,mr4 ,portman7 introduced   
the following bill2 which was read twice
 and referred to the ,committee on      
,finance  ,a ,,bill  ,to make necessary 
changes to the competitive need         
limitations provision of the            
,generalized ,system of ,preferences1   
and for other purposes4  #a4 ,short     
title ,this ,act may be cited as the    
,competitive ,need ,limitations         
,modernization ,act of #bjag4  #b4      
,findings ,congress finds the following3
  7#a7 ,the ,generalized ,system of     
,preferences1 established under title ,v
 of the ,trade ,act of #aigd 7#ai       
,u4,s4,c4 #bdfa et seq471 was created to
 promote economic development by        
expanding trade opportunities4  7#b7    
,congress imposed limits on the amount  
of trade that could qualify for         
duty-free treatment under the           

,generalized ,system of ,preferences1   
referred to as the competitive need     
limitation4 ,this limitation may be     
waived in the national economic         
interest4  7#c7 ,the competitive need   
limitation and waiver processes must be 
carried out in a manner that accurately 
accounts for current domestic production
 and must be based on evidence from     
trade data4  7#d7 ,the present          
competitive need limitation review      
process is flawed because the timing of 
the reviews prevent the use of full-year
 trade data1 which can be solved by     
shifting the deadline of the review     
process4  7#e7 ,the exclusion of        
products from the competitive need      
limitation is determined based on the   
levels of domestic production that      
existed in #aiie4 ,this does not reflect
 the realities of the current economy   
and should be updated4  #c4             
,modification to procedures for         
competitive need limitation and waivers 
,section #ejc of the ,trade ,act of     

#aigd 7#ai ,u4,s4,c4 #bdfc7 is amended  
as follows3 7#a7 ,modifications to      
competitive need limitation             
consideration ,in subsection 7c77#b7--  
7,a7 in the matter following            
subparagraph 7,a77i77,,ii71 by striking 
,july #a and inserting ,october #ae2 and
  7,b7 in subparagraph 7,e71 by striking
 on ,january #a1 #aiie and inserting in 
any of the preceding three calendar     
years4  7#b7 ,modifications to waiver   
consideration ,in subsection 7d71 by    
striking ,july #a in each place it      
appears and inserting ,october #ae4