An Act to exempt from duty certain aircraft components and materials installed in aircraft previously exported from the United States where the aircraft is returned without having been advanced in value or improved in condition while abroad.

(Measure passed Senate)

Provides under the Tariff Schedules of the United States that any aircraft previously (1) exported and composed at the time of such exportation in part of components and materials which are products of the United States and which were installed while the aircraft was within the United States; or (2) exported and returned to the United States without having been advanced in value or improved in condition while abroad and which was entered for consumption before 1970 pursuant to an entry which is unliquidated as of the date of enactment of this Act, shall be dutiable at the regular rate of duty appropriate to such aircraft provided for in the Tariff Schedules and assessed on the full value of such aircraft less the cost of U.S. components and materials at the time of installation including the cost of such installation.