To amend the Tariff Act of 1930 to provide for a deferral of the payment of a duty upon the sale of certain used vessels, and for other purposes.

This bill repeals the deferral until sale of the duty owed on large yachts imported for sale at U.S. boat shows. It instead defers until sale the duty owed on certain used vessels used primarily for recreation and brought into the customs territory of the U.S. Generally, the duty must be paid within 15 days after the sale of a covered vessel to a U.S. resident. Posting of bond for this duty is not required upon a covered vessel's entry into the U.S. customs territory.