Congress 107 - HR 808 - Steel Revitalization Act of 2001

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Topics

Administrative fees Administrative procedure Antidumping Appropriations Civil actions and liability Coke industry Collection of accounts Commerce Congress Congressional oversight Congressional reporting requirements Corporate mergers Cost of living adjustments Debtor and creditor Department of Commerce Department of Labor Dismissal of employees Economics and Public Finance Electronic government information Employee health benefits Environmental Protection Excise tax Executive reorganization Federally-guaranteed loans Finance and Financial Sector Foreclosure Foreign Trade and International Finance Government Operations and Politics Government paperwork Government publicity Government statistics Government trust funds Health Health insurance continuation Import quotas Imports Industrial pollution Interest Internet Investment of public funds Iron Iron and steel industry Iron and steel workers Labor and Employment Law Mineral industries Public Lands and Natural Resources Retiree health benefits Science, Technology, Communications Steel Stockholders Subsidies Tariff Taxation Trade agreements Trade negotiations Voluntary export restraints Web sites

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Summary

Steel Revitalization Act of 2001 - Directs the President to impose quotas, tariff surcharges, or other measures on, and to negotiate enforceable voluntary export restraint agreements with respect to, imports of steel products in order to ensure that: (1) the tonnage of iron ore, coke and coke products, semifinished steel, and pig iron imported into the United States during any month does not exceed the average tonnage of each product that was imported monthly into the United States during the 36-month period preceding July 1997; and (2) the share of domestic consumption of any other applicable steel product in the United States derived from imports during any month does not exceed the average monthly share of domestic U.S. consumption of that steel product during any month in the 36-month period preceding July 1997. Authorizes the Customs Service to refuse entry into the U.S. customs territory for a five-year period of any steel products that exceed their allowable levels.

Establishes: (1) the Steel Retiree Health Care Board in the Department of Labor; (2) the Steelworker Retiree Health Care Trust Fund; and (3) the Health Care Benefit Costs Assistance Program. Sets forth the functions of the Board, including to: (1) provide, under the Health Care Benefit Costs Assistance Program, for payments to designated steelworker group health plans to assist in the funding of qualified retiree health benefits under such plans; and (2) establish policies for the investment and management of the Steelworker Retiree Health Care Trust Fund that provides for prudent investments and low administrative costs.

Amends the Internal Revenue Code to impose an excise tax on steel sold by the manufacturer, producer, or importer (such taxes to be deposited into the Steelworker Retiree Health Care Trust Fund).

Amends the Emergency Steel Loan Guarantee Act of 1999 to increase the aggregate amount of loans guaranteed and outstanding (including additional costs of such loans) at any one time under Emergency Steel Guarantee Loan Program or with respect to a single qualified steel company. Requires the Loan Guarantee Board to approve or deny an application for a guarantee within 45 days after its receipt.

Authorizes any person who acquires another person that produces any of the specified categories of steel products contained in this Act to apply to the Secretary of Commerce for a grant to defray the costs necessary to bring, and maintain, the resulting entity into compliance with U.S. environmental laws. Requires the Secretary to make a determination whether or not such mergers will promote the retention of at least 80 percent of the jobs of the steel workers and production of capacity of such steel products. Sets forth penalties for failure to achieve such retention levels.

Actions

Apr 20, 2001

Referred to the Subcommittee on Employer-Employee Relations.
Mar 9, 2001

Referred to the Subcommittee on Domestic Monetary Policy, Technology and Economic Growth, for a period to be subsequently determined by the Chairman.
Mar 8, 2001

Referred to the Subcommittee on Trade.
Mar 1, 2001

Referred to the Committee on Ways and Means, and in addition to the Committees on Financial Services, and Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Mar 1, 2001

Introduced in House

Amendments

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