12 2 STA T .3069PUBLIC LA W 110 – 31 4— AU G .14 , 200 8theproduc t wi thi n90 d ays o f appro v a l toe x port , such product shall b e destroyed .’ ’. ( c )INSPECTIO N A N DR ECO R D K EEPIN G RE QU IRE M ENT. —T he A ct is further a m ended— ( 1 ) by amendin g section 1 7 (g) (1 5U . S . C . 2 0 6 6(g)) to read as follows
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‘(g) M anufacturers of imported products shall be in compliance with all inspection and record k eeping re q uirements under section 16 applicable to such products, and the Commission shall advise the Secretary of the Treasury of any manufacturer who is not in compliance with all inspection and recordkeeping requirements under section 16.’’
and (2) by adding at the end of section 16 (15 U.S.C. 2065) the following: ‘‘(d) The Commission shall, by rule, condition the manufacturing for sale, offering for sale, distribution in commerce, or importation into the United States of any consumer product or other product on the manufacturer’s compliance with the inspection and record - keeping requirements of this Act and the Commission’s rules with respect to such requirements.’’. SEC.2 2 4 . FINA NCIA LR ES PO NSI B ILI TY . (a) IN G ENERA L .—The Act (15 U.S.C. 2051 et seq.), as amended by section 219, is further amended by adding at the end the fol- lowing: ‘ ‘SEC. 4 1 . FINANCIAL RESPONSIBILITY. ‘‘(a) IDENTI F ICATION AND D ETERMINATION OF B OND.—The Commission, in consultation with U.S. Customs and Border P rotec- tion and other relevant F ederal agencies, shall identify any con- sumer product, or other product or substance that is regulated under this Act or any other Act enforced by the Commission, for which the cost of destruction would normally exceed bond amounts determined under sections 62 3 and 62 4 of the Tariff Act of 1930 (19 U.S.C. 1623, 1624) and shall recommend to U.S. Customs and Border Protection a bond amount sufficient to cover the cost of destruction of such products or substances. ‘‘(b) STUD Y OF REQUIRING E SCRO W FOR RECALLS AND DESTRUC- TION OF PRODUCTS.— ‘‘(1) STUDY.—The Comptroller General shall conduct a study to determine the feasibility of requiring— ‘‘(A) the posting of an escrow, proof of insurance, or security sufficient in amount to cover the cost of destruction of a domestically-produced product or substance regulated under this Act or any other Act enforced by the Commis- sion; and ‘‘(B) the posting of an escrow, proof of insurance, or security sufficient in amount to cover the cost of an effective recall of a product or substance, domestic or imported, regulated under this Act or any other Act enforced by the Commission. ‘‘(2) REPORT.— N ot later than 1 8 0 days after the date of enactment of the Consumer Product Safety Improvement Act of 2008, the Comptroller General shall transmit to the appro- priate Congressional committees a report on the conclusions of the study required under paragraph (1), including an assess- ment of whether such an escrow requirement could be imple- mented and any recommendations for such implementation.’’. Recom me nda-ti on s.15USC208 8. R ul es. M anu f actu r ers.
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