To amend the Harmonized Tariff Schedule of the United States with respect to the production incentive certificate program for watch and jewelry producers in possessions of the United States, including the Virgin Islands, Guam, and American Samoa.

Amends the Harmonized Tariff Schedule of the United States concerning clocks, watches, and parts thereof that are products of U.S. insular possessions.

Extends and revises the incentive certificate program through calendar year 2015.

Authorizes the refund of duties collected on jewelry if the Secretary of the Treasury determines there is an insufficient level of duties from watch and watch-related tariffs. Treats jewelry assembled in the Virgin Islands, Guam, or American Samoa as a product of such possessions, as specified.