sunset clause

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Sunset Clause

A clause in a law or regulation automatically abolishing that law or regulation after a stated period of time. In order for the law or regulation to continue to have effect, specific action must be taken. A law or regulation without a sunset clause continues indefinitely. The U.S. state of Texas has sunset clauses abolishing nearly every state agency every 12 years unless they are specifically renewed.

sunset clause

A provision in a sales contract that sets a date for closing and after which the contract will be unenforceable except for provisions related to damages or earnest money refund or retention.

References in periodicals archive ?
The Korean sunset provision was part of broad set of procedural reforms crafted by Kim Young Sam (hereafter, KYS), (4) the first civilian president since 1961.
5 million exclusion amount, however, a sunset provision may force the reinstatement of the less desirable outcome.
108-458, [section] 6001(b) (referencing PATRIOT Act sunset provision in P.
A measure without a sunset provision would be truly dangerous.
If it is to be retained, GMA proposes that FDA adopt a three-year sunset provision for any amended labeling, coupled with intensified consumer education by the food industry and FDA," the food group said.
Contain a sunset provision after which no suits can be filed (anticipated to be January 1, 2016).
Finally, the bill includes a sunset provision that would automatically terminate unilateral sanctions unless Congress voted to extend them.
The rationale for a sunset provision is this: "As scientific information accumulates and public discussion continues, a new judgment may develop and we, as a society, need to retain the flexibility to adjust our course in this manner.
The foundation will have a sunset provision," says Helms' office, "so that the American people can be sure foreign aid is not a perpetual entitlement.
27) It also contains a fiscal evaluation and sunset provision effective January 1, 1997.
We are urging the Senate and the House to extend the sunset provision on the grant of incentives to tourism investors for another 17 to 20 years so we can continue to develop TEZs," Aquino said.
The Bangko Sentral ng Pilipinas (BSP) announced today that the Monetary Board has approved the termination of the sunset provision in favor of thrift banks (TBs), rural banks (RBs) and cooperative banks (CBs), resulting in a unified rediscounting window for all types of banks.