,,ii  #aahth ,,congress  #b;d ,session  
,s4 #diae  ,,in ,,the ,,senate ,,of     
,,the ,,united ,,states  ,july #ca1     
#bjbd,ms4 ,cantwell introduced the      
following bill2 which was read twice and
 referred to the ,committee on ,finance 
,a ,,bill  ,to amend the ,internal      
,revenue ,code of #aihf to modify the   
low-income housing credit and to        
reauthorize and reform the ,generalized 
,system of ,preferences1 and for other  
purposes4  #a4 ,table of contents ,the  
table of contents for this ,act is as   
follows3 ,sec4 #a4 ,table of            
contents4,,title ,i--,affordable        
housing,sec4 #aja4 ,state housing credit
 ceiling increase for low-income housing
 credit4,sec4 #ajb4 ,tax-exempt bond    
financing requirement4,,title           
,,ii--,reauthorization and ,reform of   
,generalized ,system of                 
,preferences,sec4 #bja4 ,modification of
 eligibility criteria for beneficiary   
developing countries4,sec4 #bjb4        
,supplemental reviews and               

reporting4,sec4 #bjc4 ,extension of     
,generalized ,system of ,preferences4   
,i ,affordable housing  #aja4 ,state    
housing credit ceiling increase for     
low-income housing credit  7a7 ,in      
general ,section #db7;h77#c77;,i7 of the
 ,internal ,revenue ,code of #aihf is   
amended-- 7#a7 by striking and #bjba1   
and inserting #bjba1 #bjbc1 #bjbd1 and  
#bjbe11 and  7#b7 by striking #bjah1    
#bjai1 #bjbj1 and #bjba in the heading  
and inserting certain calendar years4   
7b7 ,effective date ,the amendments made
 by this section shall apply to calendar
 years after #bjbb4  #ajb4 ,tax-exempt  
bond financing requirement  7a7 ,in     
general ,section #db7;h77#d7 of the     
,internal ,revenue ,code of #aihf is    
amended by striking subparagraph 7,b7   
and inserting the following3  7,b7      
,special rule where minimum percent of  
buildings is financed with tax-exempt   
bonds subject to volume cap ,for        
purposes of subparagraph 7,a71 paragraph
 7#a7 shall not apply to any portion of 

the credit allowable under subsection   
7a7 with respect to a building if-- 7i7 
#ej percent or more of the aggregate    
basis of such building and the land on  
which the building is located is        
financed by #a or more obligations      
described in subparagraph 7,a71 or  7ii7
 7,i7 #cj percent or more of the        
aggregate basis of such building and the
 land on which the building is located  
is financed by #a or more qualified     
obligations1 and  7,,ii7 #a or more of  
such qualified obligations-- 7aa7 are   
part of an issue the issue date of which
 is after ,december #ca1 #bjbc1 and     
7bb7 provide the financing for not less 
than #e percent of the aggregate basis  
of such building and the land on which  
the building is located4  7,c7          
,qualified obligation ,for purposes of  
subparagraph 7,b77ii71 the term         
qualified obligation means an obligation
 which is described in subparagraph 7,a7
 and which is part of an issue the issue
 date of which is before ,january #a1   

#bjbf4  4  7b7 ,effective date  7#a7 ,in
 general ,the amendment made by this    
section shall apply to buildings placed 
in service in taxable years beginning   
after ,december #ca1 #bjbc4  7#b7       
,rehabilitation expenditures treated as 
separate new building ,in the case of   
any building with respect to which any  
expenditures are treated as a separate  
new building under section #db7;e7 of   
the ,internal ,revenue ,code of #aihf1  
for purposes of paragraph 7#a71 both the
 existing building and the separate new 
building shall be treated as having been
 placed in service on the date such     
expenditures are treated as placed in   
service under section #db7;e77#d7 of    
such ,code4  ,,ii ,reauthorization and  
,reform of ,generalized ,system of      
,preferences  #bja4 ,modification of    
eligibility criteria for beneficiary    
developing countries  7a7 ,in general   
,section #ejb of the ,trade ,act of     
#aigd 7#ai ,u4,s4,c4 #bdfb7 is amended--
 7#a7 in subsection 7b77#b7-- 7,a7 by   

inserting after subparagraph 7,h7 the   
following3  7,i7 ,such country has      
failed1 in a manner affecting trade or  
investment-- 7i7 to effectively enforce 
its environmental laws or regulations   
through a sustained or recurring course 
of action or inaction2 or  7ii7 to adopt
 and maintain measures implementing its 
obligations under common multilateral   
environmental agreements4  7,j7 ,such   
country engages in gross violations of  
internationally recognized human rights 
in that country 7including any          
designated zone in that country74  2 and
  7,b7 in the text following            
subparagraph 7,j7 7as inserted by       
subparagraph 7,a771 by striking and 7,h7
 7to the extent described in section    
#ejg7f77;,d77 and inserting 7,h7 7to the
 extent described in section            
#ejg7f77;,d771 7,i71 and 7,j72 and  7#b7
 in subsection 7c7-- 7,a7 in paragraph  
7#f77;,b71 by striking 2 and and        
inserting a semicolon2  7,b7 in         
paragraph 7#g7-- 7i7 by striking whether

 and all that follows through afford and
 inserting the extent to which such     
country is affording2 and  7ii7 by      
striking the period at the end and      
inserting a semicolon2 and  7,c7 by     
adding at the end the following3  7#h7  
the extent to which such country is     
effectively enforcing its environmental 
laws and regulations and adopting and   
maintaining measures implementing its   
obligations under common multilateral   
environmental agreements2  7#i7 the     
extent to which such country is         
achieving the goals described in section
 #c7;b7 of the ,women's                 
,entrepreneurship and ,economic         
,empowerment ,act of #bjah 7#bb         
,u4,s4,c4 #baea-b7;b772  7#aj7 the      
extent to which such country has        
established1 or is making continual     
progress toward establishing-- 7,a7 the 
rule of law1 political pluralism1 and   
the right to due process1 a fair trial1 
and equal protection under the law2     
7,b7 economic policies to reduce        

poverty1 increase the availability of   
health care and educational             
opportunities1 expand physical          
infrastructure1 promote the development 
of private enterprise1 and encourage the
 formation of capital markets through   
micro-credit or other programs2 and     
7,c7 a system to combat corruption and  
bribery1 such as signing and            
implementing the ,convention on         
,combating ,bribery of ,foreign ,public 
,officials in ,international ,business  
,transactions1 done at ,paris ,december 
#ag1 #aiig1 and entered into force      
,february #ae1 #aiii 7,,tias #ii-bae72  
and  7#aa7 the extent to which such     
country-- 7,a7 has refrained from       
imposing1 or has eliminated1 digital    
trade barriers1 including unnecessary or
 discriminatory data localization or    
data transfer restrictions2 and  7,b7   
has taken steps in the digital          
environment to support consumer         
protections1 the privacy of personal    
information1 and open digital           

ecosystems4  4  7b7 ,modification of    
withdrawal1 suspension1 or limitation   
requirements ,section #ejb of the ,trade
 ,act of #aigd 7#ai ,u4,s4,c4 #bdfb7 is 
amended-- 7#a7 in subsection 7d77#a71 in
 the second sentence-- 7,a7 by striking 
shall consider and inserting the        
following3 8shall--  7,a7 consider  2   
7,b7 by striking the period at the end  
and inserting 2 and2 and  7,c7 by adding
 at the end the following3  7,b7 hold a 
public hearing or provide for a period  
of not less than #cj days for submission
 of comments by the public4  2 and  7#b7
 in subsection 7f77#b7-- 7,a7 in the    
paragraph heading1 by inserting or      
suspension after termination2  7,b7 by  
inserting or suspend after terminate    
each place it appears2 and  7,c7 by     
inserting or suspension after           
termination4  7c7 ,publication of       
determinations relating to petitions for
 review ,section #ejb of the ,trade ,act
 of #aigd 7#ai ,u4,s4,c4 #bdfb7 is      
amended by adding at the end the        

following3  7g7 ,publication of         
determinations relating to petitions for
 review ,the ,united ,states ,trade     
,representative shall publish in the    
,federal ,register a notice of1 and the 
rationale for1 any determination of the 
,trade ,representative with respect to a
 petition for review of the eligibility 
of a country for designation as a       
beneficiary developing country1         
including a determination-- 7#a7 to     
accept or deny such a petition2  7#b7 to
 continue to review the eligibility of  
the country2 or  7#c7 to withdraw1      
suspend1 or limit the application of    
duty-free treatment under this title    
with respect to the country4  4  7d7    
,definitions ,section #ejg of the ,trade
 ,act of #aigd 7#ai ,u4,s4,c4 #bdfg7 is 
amended-- 7#a7 in paragraph 7#d7-- 7,a7 
in subparagraph 7,d71 by striking 2 and 
and inserting a semicolon2  7,b7 in     
subparagraph 7,e71 by striking the      
period at the end and inserting 2 and2  
and  7,c7 by adding at the end the      

following3  7,f7 the elimination of all 
forms of discrimination with respect to 
occupation and employment4  2 and  7#b7 
by adding at the end the following3     
7#g7 ,common multilateral environmental 
agreement  7,a7 ,in general ,the term   
common multilateral environmental       
agreement1 for purposes of determining  
the eligibility of a country for        
designation as a beneficiary developing 
country under this title1 means any     
agreement specified in subparagraph 7,b7
 to which both the ,united ,states and  
that country are full parties1 including
 any current or future mutually agreed  
upon protocols1 amendments1 annexes1 or 
adjustments to such an agreement4  7,b7 
,agreements specified ,the agreements   
specified in this subparagraph are the  
following3 7i7 ,the ,convention on      
,international ,trade in ,endangered    
,species of ,wild ,fauna and ,flora1    
done at ,washington ,march #c1 #aigc    
7#bg ,,ust #ajhg2 ,,tias #hbdi74  7ii7  
,the ,montreal ,protocol on ,substances 

that ,deplete the ,ozone ,layer1 done at
 ,montreal ,september #af1 #aihg4  7iii7
 ,the ,protocol of #aigh ,relating to   
the ,international ,convention for the  
,prevention of ,pollution from ,ships1  
#aigc1 done at ,london ,february #ag1   
#aigh4  7iv7 ,the ,convention on        
,wetlands of ,international ,importance1
 ,especially as ,waterfowl ,habitat1    
done at ,ramsar ,february #b1 #aiga     
7,,tias #aajhd74  7v7 ,the ,convention  
on the ,conservation of ,antarctic      
,marine ,living ,resources1 done at     
,canberra ,may #bj1 #aihj 7#cc ,,ust    
#cdgf74  7vi7 ,the ,international       
,convention for the ,regulation of      
,whaling1 done at ,washington ,december 
#b1 #aidf 7#fb ,stat4 #agaf74  7vii7    
,the ,convention for the ,establishment 
of an ,inter-,american ,tropical ,tuna  
,commission1 done at ,washington ,may   
#ca1 #aidi 7#a ,,ust #bcj74  4  #bjb4   
,supplemental reviews and reporting  7a7
 ,assessment and report on compliance   
with eligibility requirements ,section  

#ejb of the ,trade ,act of #aigd1 as    
amended by section #bja1 is further     
amended by adding at the end the        
following3  7h7 ,assessment and report  
on compliance with eligibility          
requirements  7#a7 ,in general ,the     
,president shall-- 7,a7 on an annual    
basis-- 7i7 conduct assessments of the  
compliance of an appropriate number of  
countries designated as beneficiary     
developing countries for purposes of    
this title in meeting or continuing to  
meet the eligibility requirements under 
this title2 and  7ii7 make              
determinations with respect to whether  
to initiate full reviews of the         
practices of those countries to assess  
the continued eligibility of those      
countries for designation as beneficiary
 developing countries under this title2 
and  7,b7 submit to ,congress a report  
consisting of the results of such       
assessments and determinations4  7#b7   
,frequency ,the ,president shall conduct
 an assessment described in clause 7i7  

of paragraph 7#a77;,a7 and make a       
determination described in clause 7ii7  
of that paragraph with respect to each  
country designated as a beneficiary     
developing country for purposes of this 
title not less frequently than once     
every #c years4  4  7b7 ,assessment of  
effectiveness of ,generalized ,system of
 ,preferences in strengthening and      
maintaining internationally recognized  
worker rights and women's               
entrepreneurship and economic           
empowerment  7#a7 ,policy of the ,united
 ,states ,it is the policy of the       
,united ,states to support gender       
equality and worker rights by promoting 
legal reforms that address legal1       
structural1 and social barriers that    
constrain the full and free economic    
participation of all workers in the     
global economy4  7#b7 ,amendment to     
,trade ,act of #aigd  7,a7 ,in general  
,title ,v of the ,trade ,act of #aigd   
7#ai ,u4,s4,c4 #bdfa et seq47 is amended
 by inserting after section #ejd the    

following3  #ejd;,a4 ,assessment of     
effectiveness in strengthening and      
maintaining internationally recognized  
worker rights and women's               
entrepreneurship and economic           
empowerment  7a7 ,in general ,not later 
than #ae months after the date of the   
enactment of this section1 and every #b 
years thereafter1 the ,united ,states   
,trade ,representative and the ,deputy  
,undersecretary of ,labor for           
,international ,affairs1 in consultation
 with the policy advisory committee on  
labor established under section         
#ace7;c77#a71 shall jointly submit to   
,congress an assessment of the          
effectiveness of the administration of  
this title in maintaining or            
strengthening the efforts of beneficiary
 developing countries relating to the   
factors described in paragraphs 7#g7 and
 7#i7 of section #ejb7;c74  7b7         
,methodology and sources ,the assessment
 required by subsection 7a7 shall       
include-- 7#a7 an explanation of the    

methodology and sources used to prepare 
the assessment2 and  7#b7 where         
relevant1 citations to data1            
information1 studies1 and assessments   
that were used to prepare the assessment
 and were gathered1 compiled1 or        
developed by the ,united ,states        
,government1 foreign governments1       
multilateral institutions1              
nongovernmental organizations1 or       
educational institutions4  7c7          
,measurement of women's economic        
empowerment ,to support the measurement 
of women's economic empowerment1 the    
,trade ,representative shall encourage  
and support the reporting by beneficiary
 developing countries of                
sex-disaggregated economic and business 
data1 including the gathering of        
information consistent with the ,united 
,nations ,sustainable ,development      
,goals1 particularly the goals relating 
to gender equality and decent work4  4  
7,b7 ,clerical amendment ,the table of  
contents for the ,trade ,act of #aigd is

 amended by inserting after the item    
relating to section #ejd the following3 
,sec4 #ejd;,a4 ,assessment of           
effectiveness in strengthening and      
maintaining internationally recognized  
worker rights and women's               
entrepreneurship and economic           
empowerment4  4  7c7 ,united ,states    
,international ,trade ,commission study 
,not later than ,july #a1 #bjbf1 the    
,united ,states ,international ,trade   
,commission shall submit to ,congress a 
report that contains a study on rules of
 origin1 utilization rates1 and         
eligibility requirements for articles   
under the ,generalized ,system of       
,preferences program under title ,v of  
the ,trade ,act of #aigd 7#ai ,u4,s4,c4 
#bdfa et seq471 including an assessment 
of-- 7#a7 the rate of utilization of the
 program by countries designated as     
least-developed beneficiary developing  
countries under section #ejb7;a77#b7 of 
that ,act 7#ai ,u4,s4,c4 #bdfb7;a77#b772
  7#b7 the effectiveness of the rules of

 origin of the program in-- 7,a7        
promoting trade benefits to             
least-developed beneficiary developing  
countries under the program2 and  7,b7  
preventing the transshipment of articles
 from countries that are not designated 
as beneficiary developing countries     
under section #ejb7;a77#a7 of that ,act 
7#ai ,u4,s4,c4 #bdfb7;a77#a772 and  7#c7
 the requirements and procedures for    
designating articles as eligible        
articles under section #ejc of that ,act
 7#ai ,u4,s4,c4 #bdfc71 including-- 7,a7
 the competitive need limitation under  
subsection 7c77#b7 of that section2 and 
7,b7 the process for waiving that       
limitation under subsection 7d7 of that 
section4  #bjc4 ,extension of           
,generalized ,system of ,preferences    
7a7 ,in general ,section #eje of the    
,trade ,act of #aigd 7#ai ,u4,s4,c4     
#bdfe7 is amended by striking ,december 
#ca1 #bjbj and inserting ,december #ca1 
#bjbi4  7b7 ,effective date  7#a7 ,in   
general ,the amendment made by          

subsection 7a7 shall apply to articles  
entered on or after the #cjth day after 
the date of the enactment of this ,act4 
7#b7 ,retroactive application for       
certain liquidations and reliquidations 
7,a7 ,in general ,notwithstanding       
section #ead of the ,tariff ,act of     
#aicj 7#ai ,u4,s4,c4 #aead7 or any other
 provision of law and subject to        
subparagraph 7,b71 any entry of a       
covered article to which duty-free      
treatment or other preferential         
treatment under title ,v of the ,trade  
,act of #aigd 7#ai ,u4,s4,c4 #bdfa et   
seq47 would have applied if the entry   
had been made on ,december #ca1 #bjbj1  
that was made-- 7i7 after ,december #ca1
 #bjbj1 and  7ii7 before the effective  
date specified in paragraph 7#a71  shall
 be liquidated or reliquidated as though
 such entry occurred on the effective   
date specified in paragraph 7#a74  7,b7 
,requests ,a liquidation or             
reliquidation may be made under         
subparagraph 7,a7 with respect to an    

entry only if a request therefor is     
filed with ,u4,s4 ,customs and ,border  
,protection not later than #ahj days    
after the date of the enactment of this 
,act that contains sufficient           
information to enable ,u4,s4 ,customs   
and ,border ,protection-- 7i7 to locate 
the entry2 or  7ii7 to reconstruct the  
entry if it cannot be located4  7,c7    
,payment of amounts owed ,any amounts   
owed by the ,united ,states pursuant to 
the liquidation or reliquidation of an  
entry of a covered article under        
subparagraph 7,a7 shall be paid1 without
 interest1 not later than #ij days after
 the date of the liquidation or         
reliquidation 7as the case may be74     
7#c7 ,definitions ,in this subsection3  
7,a7 ,covered article ,the term covered 
article means an article from a country 
that is a beneficiary developing country
 under title ,v of the ,trade ,act of   
#aigd 7#ai ,u4,s4,c4 #bdfa et seq47 as  
of the effective date specified in      
paragraph 7#a74  7,b7 ,enter2 entry ,the

 terms enter and entry include a        
withdrawal from warehouse for           
consumption4