110 STAT. 3062 PUBLIC LAW 104-234—OCT. 2, 1996 "(d) TREATMENT OF COST OR VALUE OF MATERIALS. —The President is authorized to proclaim that the cost or value of materials produced in the West Bank, the Gaza Strip, or a qualifying industrial zone may be included in the cost or value of materials produced in Israel under section l(c)(i) of Annex 3 of the Agreement, and the direct costs of processing operations performed in the West Bank, the Gaza Strip, or a qualifying industrial zone may be included in the direct costs of processing operations performed in Israel under section l(c)(ii) of Annex 3 of the Agreement. "(e) QUALIFYING INDUSTRIAL ZONE DEFINED.—For purposes of this section, a 'qualifying industrial zone' means any area that— "(1) encompasses portions of the territory of Israel and Jordan or Israel and Egypt; "(2) has been designated by local authorities as an enclave where merchandise may enter without payment of duty or excise taxes; and "(3) has been specified by the President as a qualifying industrial zone.". Approved October 2, 1996. LEGISLATIVE HISTORY—H.R. 3074: HOUSE REPORTS: No. 104-495 (Comm. on Ways and Means). SENATE REPORTS: No. 104-270 (Comm. on Finance). CONGRESSIONAL RECORD, Vol. 142 (1996): Apr. 16, considered and passed House. Sept. 27, considered and passed Senate.
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