Removes many U.S. legal restrictions on trade, travel, telecommunications, and remittances with Cuba, gives Cuban goods nondiscriminatory tariff treatment, and directs the President to negotiate property-claim settlements and human-rights protections with Cuba. It also prohibits Treasury limits on remittances, allows common carriers to build and operate telecom links with Cuba, changes the timing rule for certain foreign tax credit determinations, and sets staggered effective dates for different provisions.