Establishment of importer risk assessment program

Not later than the date that is 180 days after February 24, 2016, the Commissioner shall establish a program that directs U.S. Customs and Border Protection to adjust bond amounts for importers, including new importers and nonresident importers, based on risk assessments of such importers conducted by U.S. Customs and Border Protection, in order to protect the revenue of the Federal Government. The Commissioner shall ensure that, as part of the program established under subsection (a), U.S. Customs and Border Protection— develops risk assessment guidelines for importers, including new importers and nonresident importers, to determine if and to what extent— This section shall not apply to an importer that is a validated Tier 2 or Tier 3 participant in the Customs–Trade Partnership Against Terrorism program established under subtitle B of title II of the Security and Accountability for Every Port Act of 2006 (6 U.S.C. 961 et seq.). Not later than the date that is 2 years after February 24, 2016, the Inspector General of the Department of the Treasury shall submit to the Committee on Finance of the Senate and the Committee on Ways and Means of the House of Representatives a report detailing— In this section: The term “importer” means one of the parties qualifying as an importer of record under section 1484(a)(2)(B) of this title. The term “nonresident importer” means an importer who is—