EXPORT-IMPORT BANK ACT AMENDMENTS OF 1986 Public Law 99–472 EXPORT-IMPORT BANK ACT AMENDMENTS OF 1986 472 99–472 Statute Compilation United States House of Representatives Office of the Legislative Counsel 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. GPO Statute Compilations USLM converter, version 20210527.1 2021-10-15 Export-Import Bank Act Amendments of 1986 1348 99 1986-10-15 EXPORT-IMPORT BANK ACT AMENDMENTS OF 1986 [(Public Law 99–472; Approved on October 15, 1986)] [This law has not been amended] [Currency: This publication is a compilation of the text of Public Law 99-472. It was last amended by the public law listed in the As Amended Through note above and below at the bottom of each page of the pdf version and reflects current law through the date of the enactment of the public law listed at https://www.govinfo.gov/app/collection/comps/] [Note: While this publication does not represent an official version of any Federal statute, substantial efforts have been made to ensure the accuracy of its contents. The official version of Federal law is found in the United States Statutes at Large and in the United States Code. The legal effect to be given to the Statutes at Large and the United States Code is established by statute (1 U.S.C. 112, 204).]
AN ACTTo amend the Export-Import Bank Act of 1945.Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.1 This Act may be cited as the “Export-Import Bank Act Amendments of 1986”.1

This Act primarily amends the Export-Import Bank Act of 1945.

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SEC. 16. REPORT ON ROLE OF PRIVATE INSURANCE. Not later than October 1, 1987, the Export-Import Bank of the United States and the Office of Management and Budget shall jointly prepare and transmit to the Congress, and the General Accounting Office shall prepare and transmit to the Congress, reports analyzing— (1) the need for United States Government involvement in export credit insurance, considering the current activities of private insurance companies in this area, private insurance industry trends over the longer term, and ways in which private insurance companies can be encouraged by the Bank to maximize export credit insurance activities; (2) the need to employ an agent in administering government-supported insurance programs which are determined to be necessary; and (3) the efficiency and effectiveness of continuing to utilize the Foreign Credit Insurance Association as the Bank's agent (including an analysis of the administrative and economic cost to the government and the Bank of maintaining the Foreign Credit Insurance Association).
SEC. 20. INTEREST SUBSIDY PAYMENTS. (a) * * * * * * * * * * (c) [12 U.S.C. 635g note] Report Sunset Provision.—Effective March 2, 1988, the amendment made by subsection (b) is repealed.
SEC. 21. POLICY TOWARD UNITED STATES BUSINESS TRANSACTIONS IN ANGOLA. (a) The Congress finds that— (1) the Marxist Popular Movement for the Liberation of Angola (hereafter in this section referred to as the “MPLA”) has failed to hold fair and free elections since assuming power in Angola in 1975; (2) Angola currently harbors more than 35,000 Soviet and Cuban troops and advisers; (3) the Cubans and Soviets have channeled more than $4,000,000,000 in assistance and military aid in furtherance of this intervention in Africa; (4) the MPLA government of Angola obtains more than 90 percent of its foreign exchange from the extraction and production of oil; (5) most of Angola's oil is extracted in Cabinda Province, where 75 percent of it is extracted by the Chevron-Gulf Oil company; (6) the MPLA has refused to take meaningful steps to end its dependency on Soviet and Cuban forces, engage in national reconciliation efforts within Angola, or encourage the independence of Namibia; and (7) United States business interests are in direct conflict with United States foreign policy objectives in aiding the MPLA government of Angola, which directly opposes Jonas Savimbi and UNITA, recipients of United States support. (b)(1) It is the sense of the Congress that the interests of the United States are best served when United States business transactions conducted in Angola do not directly or indirectly support Cuban troops and Soviet advisers. (2) The Congress hereby requests that the President consider using his authorities under the Export Administration Act of 1979 to restrict United States business transactions that conflict with United States security interests in Angola.
SEC. 22. [22 U.S.C. 262h] OPPOSITION OF MULTILATERAL ASSISTANCE FOR FOREIGN SURPLUS COMMODITIES AND MINERALS. The Secretary of the Treasury shall instruct the United States Executive Directors of the International Bank for Reconstruction and Development, the International Development Association, the International Finance Corporation, the Inter-American Development Bank, the International Monetary Fund, the Asian Development Bank, the Inter-American Investment Corporation, the African Development Bank, and the African Development Fund to use the voice and vote of the United States to oppose any assistance by such institutions, using funds appropriated or otherwise made available pursuant to any provision of law, for the production or extraction of any commodity or mineral for export, if— (1) such commodity or mineral, as the case may be, is in surplus on world markets; and (2) the export of such commodity or mineral, as the case may be, would cause substantial injury to the United States producers of the same, similar, or competing commodity or mineral.