Treasury Issues Its Regulatory Agenda for CBP

The Treasury Department published its fall 2012 regulatory agenda for CBP, which lists five new items in the works, including regulatory progress on rules regarding the U.S.-Korea Free Trade Agreement and disclosures of intellectual property rights, among other things.

(This agenda lists Treasury's CBP rulemakings that are pending at the proposed, interim final, final, and completed stages, as well as rulemakings that are long-term actions. The agenda lists the regulation title; past regulation(s), if any; the timeframe for the next regulatory action(s), if any; a brief description of the regulation; and a contact party name and telephone number. The Department of Homeland Security has also issued its fall 2012 regulatory agenda for CBP. See ITT's Online Archives 13010330 for summary.)

Agenda Includes 5 New Items

• Treasury is targeting July for a proposed rulemaking on "Prior Disclosure and Lost Duty or Revenue Demands When Penalty Claim Not Issued." The new rule will amend part 162 of CBP regulations "pertaining to prior disclosure and to the procedure for demanding payment of duties, taxes, fees, or revenue for violations of 19 U.S.C. sections 1592 or 1593a when a penalty claim is not issued." The amendments "are designed to encourage participation in the prior disclosure program and to enhance the effectiveness of the duty/revenue demand process." Although, this item is listed a new agenda item, a very similar item was included last year under a different rulemaking number.
• Treasury is targeting June for a final rule on "Disclosure of Information for Certain Intellectual Property Rights Enforced at the Border." This rule would "provide a pre-seizure procedure for disclosing information about imported merchandise suspected of bearing a counterfeit mark for the limited purpose of obtaining the right holder's assistance in determining whether or not the mark is counterfeit."
• Treasury is targeting April for a final action on "Prohibitions and Conditions on Importation and Exportation of Rough Diamonds." The proposed amendments would "require U.S. importers of shipments of rough diamonds to retain for a period of at least five years a copy of the Kimberley Process Certificate that currently must accompany such shipments and to make the copy available for inspection when requested by CBP."
• Treasury is targeting June for a final action on the U.S.-Korea Free Trade Agreement. The rule amends CBP "regulations on an interim basis to implement the preferential tariff treatment and other customs-related provisions" related to the FTA.
• Treasury is targeting April for a final action on the U.S.-Colombia Trade Promotion Agreement. The rule amends CBP "regulations on an interim basis to implement the preferential tariff treatment and other customs-related provisions" related to the agreement.

The full list of Treasury's fall 2012 agenda for CBP, which added five new items, is below. Items listed as not previously published in Treasury's regulatory agenda are marked with an asterisk (*) below.

Agenda Highlights

Highlights of Treasury's CBP rulemakings that are at the proposed, interim final/final, or completed stages are as follows:

(See ITT's Online Archives 11071146 for summary of Treasury's spring 2011 regulatory agenda for CBP.)