113 HR 5424 IH: Made-in-America Bank Act U.S. House of Representatives 2014-09-09 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.

I 113th CONGRESS 2d Session H. R. 5424 IN THE HOUSE OF REPRESENTATIVES September 9, 2014 Mr. Grayson introduced the following bill; which was referred to the Committee on Financial Services A BILL To create the Made-in-America Bank.

1.

Short title

This Act may be cited as the Made-in-America Bank Act.

2.

Redesignation of the Export-Import Bank as the Made-in-America Bank

(a)

Redesignation

Paragraph (1) of subsection (a) of section 2 of the Export-Import Bank Act of 1945 (12 U.S.C. 635(a)(1)) is amended by striking Export-Import Bank and inserting Made-in-America Bank.(b)

References

Any reference in any law, map, regulation, document, paper, or other record of the United States to the Federal agency renamed in subsection (a) shall be deemed to be a reference to the Made-in-America Bank.

3.

Financing made available to American entities purchasing American made goods

All guarantees, loans, insurance, and any other benefits historically provided by the Export-Import Bank may only be made to a domestic entity that is not majority-owned by any foreign person or entity and only for the purpose of acquiring goods or services made in America.

4.

Extension of authority

Section 7 of the Export-Import Bank Act of 1945 (12 U.S.C. 635f) is amended by striking 2014 and inserting 2016.

5.

Effective date

The amendments made by this Act shall take effect on October 1, 2014, or the date of enactment of this Act, whichever is later.