(a)The term “Secretary” means the Secretary of Commerce;
(b)The term “Board” means the Board which is established to carry out the provisions of this chapter. The Board shall consist of the Secretary of Commerce, who shall be chairman and executive officer of the Board, and the Secretary of the Treasury;
(c)The term “State” includes any State, the District of Columbia, and Puerto Rico;
(d)The term “corporation” means a public corporation and a private corporation, as defined in this chapter;
(e)The term “public corporation” means a State, political subdivision thereof, a municipality, a public agency of a State, political subdivision thereof, or municipality, or a corporate municipal instrumentality of one or more States;
(f)The term “private corporation” means any corporation (other than a public corporation) which is organized for the purpose of establishing, operating, and maintaining a foreign-trade zone and which is chartered under special Act enacted after June 18, 1934, of the State or States within which it is to operate such zone;
(g)The term “applicant” means a corporation applying for the right to establish, operate, and maintain a foreign-trade zone;
(h)The term “grantee” means a corporation to which the privilege of establishing, operating, and maintaining a foreign-trade zone has been granted;
(i)The term “zone” means a “foreign-trade zone” as provided in this chapter.
1996—Subsec. (b). Pub. L. 104–201, § 910(1), substituted “and the Secretary of the Treasury” for “the Secretary of the Treasury, and the Secretary of War”.
Subsec. (c). Pub. L. 104–201, § 910(2), struck out “Alaska, Hawaii,” after “Columbia,”.
This chapter is popularly known as the “Foreign Trade Zones Act”.
Floor Stocks Tax Treatment of Articles in Foreign Trade Zones
Notwithstanding this chapter, articles located in a foreign trade zone on the effective date of increases in tax under specific amendments by Pub. L. 101–508subject to floor stocks taxes under certain circumstances, see section 11218 ofPub. L. 101–508, set out as a note under section
5001 of Title
26, Internal Revenue Code.
The table below lists the classification updates, since Jan. 3, 2012, for this section. Updates to a broader range of sections may be found at the update page for containing chapter, title, etc.
The most recent Classification Table update that we have noticed was Tuesday, August 13, 2013
An empty table indicates that we see no relevant changes listed in the classification tables. If you suspect that our system may be missing something, please double-check with the Office of the Law Revision Counsel.