Pub. L. 95-410, tit. II, sec. 209

Sec. 209. (a) The Tariff Act of 1930 is amended by adding immediately after section 503 the following new section: “SEC. 504. LIMITATION ON LIQUIDATION. “(a) Liquidation.— Except as provided in subsection (b), an entry of merchandise not liquidated within one year from: “(1) the date of entry of such merchandise; “(2) the date of the final withdrawal of all such merchandise covered by a warehouse entry; or “(3) the date of withdrawal from warehouse of such merchandise for consumption where, pursuant to regulations issued under section 505 (a) of this Act, duties may be deposited after the filing of an entry or withdrawal from warehouse; shall be deemed liquidated at the rate of duty, value, quantity, and amount of duties asserted at the time of entry by the importer, his consignee, or agent. Notwithstanding section 500(e) of this Act, notice of liquidation need not be given of an entry deemed liquidated. “(b) Extension.— The Secretary may extend the period in which to liquidate an entry by giving notice of such extension to the importer, his consignee, or agent in such form and manner as the Secretary shall prescribe in regulations, if— “(1) information needed for the proper appraisement or classification of the merchandise is not available to the appropriate customs officer; “(2) liquidation is suspended as required by statute or court order; or “(3) the importer, consignee, or his agent requests such extension and shows good cause therefor. “(c) Notice of Suspension.— If the liquidation of any entry is suspended, the Secretary shall, by regulation, require that notice of such suspension be provided to the importer or consignee concerned and to any authorized agent and surety of such importer or consignee. “(d) Limitation.— Any entry of merchandise not liquidated at the expiration of four years from the applicable date specified in subsection (a) of this section, shall be deemed liquidated at the rate of duty, value, quantity, and amount of duty asserted at the time of entry by92 STAT. 903 the importer, his consignee, or agent, unless liquidation continues to be suspended as required by statute or court order. When such a suspension of liquidation is removed, the entry shall be liquidated within 90 days therefrom.” (b) The amendment made by this section applies to the entry or withdrawal of merchandise for consumption on or after 180 days after the enactment of this Act.