The Foreign-Trade Zones Board was established under the Foreign-Trade Zones Act of June 18, 1934, as amended (Pub. L. 397, 48 Stat. 998-1003). The FTZB consists of the Secretary of the Department of Commerce (chairman) and the Secretary of the Treasury, or their designated alternates. The Board has the authority to Prescribe rules and regulations concerning zones; issue grants of authority for zones and subzones, and approve modifications to the original zone project; approve manufacturing and processing certain activity in zones and subzones; make determinations on matters requiring Board decisions; decide appeals in regard to certain decisions of the Commerce Department's Assistant Secretary for Import Administration or the Executive Secretary; inspect the premises, operations and accounts of zone grantees and operators; require zone grantees to report on zone operations; report annually to the Congress on zone operations; restrict or prohibit zone operations; impose fines for violations of the Act; revoke grants of authority for cause; and determine, as appropriate, whether zone activity is or would be in the public interest or detrimental to the public interest.
A component of Commerce Department.