12 2 STA T . 1 5 1 7PUBLIC LA W 11 0– 2 34—M A Y 22 , 200 8SEC.153 3 4 . LIM I TA TI ON SON DU T Y D R A WB AC K ON CERTAIN IM P ORTED ET H ANOL. (a)INGE NE RAL.—Section31 3( p )o f t h e T a r iff A ctof1 9 3 0 (19 U .S. C . 1313(p)) i s a m en d ed by addin g at the end the fo l lo w ing new paragraph
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‘( 5 )S P E CI ALR U LE SFO RE THY L ALCOHOL.— F orp u rposes of this subsection , any duty paid under subheading 9901.00.50 of the H armoni z ed Tariff Schedule of the United States on imports of ethyl alcohol or a mi x ture of ethyl alcohol may not be refunded if the exported article upon which a drawbac k claim is based does not contain ethyl alcohol or a mixture of ethyl alcohol. ’ ’. (b) E FFECTI V E D ATE.—The amendment made by this section applies with respect to— (1) imports of ethyl alcohol or a mixture of ethyl alcohol entered for consumption, or withdrawn from warehouse for consumption, on or after O ctober 1, 2 00 8; and (2) imports of ethyl alcohol or a mixture of ethyl alcohol entered for consumption, or withdrawn from warehouse for consumption, before October 1, 2008, if a duty drawback claim is filed with respect to such imports on or after October 1, 2010. PARTI II — A G RI CUL TURAL PR OV I S IO N S SEC. 15341. INCREASE IN LOAN LIMITS ON A G RICULTURAL BONDS. (a) IN GENERAL.—Subparagraph (A) of section 1 47 (c)(2) (relating to exception for first - time farmers) is amended by striking ‘‘ $ 250,000’’ and inserting ‘‘$450,000’’. (b) INFLATION A DJ UST M ENT.—Section 147(c)(2) is amended by adding at the end the following new subparagraph: ‘‘(H) ADJUSTMENTS FOR INFLATION.—In the case of any calendar year after 2008, the dollar amount in subpara- graph (A) shall be increased by an amount e q ual to— ‘‘(i) such dollar amount, multiplied by ‘‘(ii) the cost-of-li v ing ad j ustment determined under section 1(f)(3) for the calendar year, determined by substituting ‘calendar year 2007’ for ‘calendar year 1992’ in subparagraph ( B ) thereof. If any amount as increased under the preceding sentence is not a multiple of $100, such amount shall be rounded to the nearest multiple of $100.’’. (c) M ODIFICATION OF SU B STANTIAL FARMLAND DEFINITION.— Section 147(c)(2)(E) (defining substantial farmland) is amended by striking ‘‘unless’’ and all that follows through the period and inserting ‘‘unless such parcel is smaller than 30 percent of the median size of a farm in the county in which such parcel is located.’’. (d) CONFORMIN G AMENDMENT.—Section 147(c)(2)(C)(i)(II) is amended by striking ‘‘$250,000’’ and inserting ‘‘the amount in effect under subparagraph (A)’’. (e) EFFECTIVE DATE.—The amendments made by this section shall apply to bonds issued after the date of the enactment of this Act. 26USC147note. 26 USC 147. Ap p licab ilit y . 1 9 USC 1 3 13 note.
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