full retroactive repayment of tariffs imposed on American companies as a result of lapses in authorization for the GSP program when renewing or extending the program. (b) Sense of Congress It is the sense of Congress that the renewal of the GSP program should be accompanied by the retroactive return of tariffs paid on the entry of articles that would have received duty-free or preferential treatment if the program had been renewed. 3. Extension of Generalized System of Preferences (a) In general Section 505 of the Trade Act of 1974 ( 19 U.S.C. 2465 ) is amended by striking December 31, 2020 and inserting December 31, 2029 . (b) Application of retroactive treatment Notwithstanding section 505 of the Trade Act of 1974 ( 19 U.S.C. 2465 ), section 514 of the Tariff Act of 1930 ( 19 U.S.C. 1514 ), or any other provision of law and subject to subsection (c), any entry of a covered article to which duty-free treatment or other preferential treatment under title V of the Trade Act of 1974 ( 19 U.S.C. 2461 et seq. ) would have applied if the entry had been made on December 31, 2020, that was made— (1) after December 31, 2020