Travel Restriction Reform and Export Enhancement Act - Prohibits the President from: (1) regulating or prohibiting travel to or from Cuba by U.S. citizens or lawful permanent residents or any transactions incident to such travel; and (2) restricting direct transfers from a Cuban financial institution to a U.S. financial institution executed in payment for a product authorized for sale under the Trade Sanctions Reform and Export Enhancement Act of 2000.
States that: (1) any regulation restricting or prohibiting such Cuban travel shall have no effect; and (2) such prohibition shall not apply in time of war or armed hostilities between the United States and Cuba, or of imminent danger to the public health or the physical safety of U.S. citizens or legal residents.
Amends the Trade Sanctions Reform and Export Enhancement Act of 2000 to define "payment of cash in advance" as the payment by the purchaser of an agricultural commodity or product and the receipt of such payment by the seller prior to: (1) the transfer of title of such commodity or product to the purchaser; and (2) the release of control of such commodity or product to the purchaser.