[Congressional Bills 106th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1993 Introduced in House (IH)]







106th CONGRESS
  1st Session
                                H. R. 1993

  To reauthorize the Overseas Private Investment Corporation and the 
         Trade and Development Agency, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                              May 27, 1999

Mr. Manzullo (for himself, Mr. Menendez, Mr. Gilman, Mr. Gejdenson, Mr. 
  Ackerman, Mr. Bentsen, Mr. Bereuter, Mr. Berman, Mrs. Biggert, Mr. 
Blunt, Mr. Brady of Texas, Mr. Callahan, Mrs. Clayton, Mr. Cooksey, Mr. 
  Costello, Mr. Davis of Illinois, Mr. Delahunt, Mr. DeLay, Mr. Diaz-
 Balart, Mr. English, Mr. Ewing, Mr. Fattah, Mr. Frost, Mr. Gallegly, 
Mr. Gutierrez, Mr. Hastings of Florida, Mr. Hoeffel, Mr. Houghton, Ms. 
 Jackson-Lee of Texas, Ms. Kilpatrick, Mr. Knollenberg, Mr. Kolbe, Mr. 
 LaHood, Mr. Lantos, Mr. Leach, Mrs. McCarthy of New York, Mr. Matsui, 
  Mrs. Meek of Florida, Mrs. Napolitano, Mr. Ortiz, Mr. Packard, Mr. 
Porter, Mr. Rangel, Mr. Rothman, Mr. Rush, Mr. Sawyer, Mr. Sherman, and 
  Mr. Berry) introduced the following bill; which was referred to the 
                  Committee on International Relations

_______________________________________________________________________

                                 A BILL


 
  To reauthorize the Overseas Private Investment Corporation and the 
         Trade and Development Agency, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Export Enhancement Act of 1999''.

SEC. 2. FINDINGS.

    The Congress makes the following findings:
            (1) Since it began operations in 1971, the Overseas Private 
        Investment Corporation (in this Act referred to as ``OPIC'') 
        has sold investment services and mobilized private sector 
        resources to assist developing countries and emerging 
        democracies in the transition from nonmarket to market 
        economies.
            (2) In an era of declining Federal budgetary resources, 
        OPIC has consistently demonstrated an ability to operate on a 
        self-sustaining basis to support United States companies and 
        promote economic reform in emerging economies in Africa, the 
        newly independent states of the former Soviet Union, Latin 
        America, and the Caribbean.
            (3) OPIC has played an important role in reinforcing United 
        States foreign policy goals and in strengthening the United 
        States economy by creating jobs and promoting exports.
            (4) Over the past 28 years, projects supported by OPIC have 
        generated over $58,000,000,000 in United States exports, 
        mobilized $121,000,000,000 of United States private sector 
        investment, and created more than 237,000 United States jobs.
            (5) OPIC has been run on a sound financial basis with 
        reserves totaling approximately $3,300,000,000 and with an 
        estimated net budget contribution to the international affairs 
        account of some $204,000,000 in fiscal year 2000.
            (6) OPIC has maintained a claims recovery rate of 95 
        percent, settling 254 insurance claims for $541,000,000 and 
        recovering all but $29,000,000 since 1971.
            (7) OPIC programs have served to rectify market failures, 
        including limited market information in developing countries 
        and underdeveloped capital markets, by insuring United States 
        firms against economic and market uncertainties.
            (8) The Trade and Development Agency (in this Act referred 
        to as ``TDA'') promotes United States business involvement in 
        infrastructure projects in developing and middle income 
        countries.
            (9) TDA has generated $12,300,000,000 in exports since its 
        inception, with every $1 in spending for TDA projects leading 
        to the sale of $32 in United States goods and services 
        overseas.
            (10) The United States and Foreign Commercial Service (in 
        this Act referred to as the ``Commercial Service'') plays an 
        important role in helping United States businesses identify 
        export opportunities and develop reliable sources of 
        information on commercial prospects in foreign countries.
            (11) The Congress has, on several occasions, encouraged the 
        Commercial Service to focus its resources and efforts in 
        countries or regions in Europe and Asia to promote greater 
        United States export activity in those markets.
            (12) The Congress supports the expansion of the Rural 
        Export Initiative by the International Trade Administration (in 
        this Act referred to as the ``ITA'') of the Department of 
        Commerce, particularly those elements related to the use of 
        information technology and electronic commerce techniques.

SEC. 3. POLICY RECOMMENDATIONS.

    The Congress makes the following declarations:
            (1) OPIC should set its fees at levels sufficient to cover 
        all operating costs, repay any subsidy appropriations, and set 
        aside adequate reserves against future losses.
            (2) OPIC should maintain a conservative ratio of reserves 
        to contingent liabilities and limit its obligations in any one 
        country in its worldwide finance or insurance portfolio.
            (3) Projects supported by OPIC should not displace 
        commercial finance or insurance offerings and should encourage 
        private sector financing and insurance participation.
            (4) Independent auditors should report annually to the 
        Congress on the level of OPIC's reserves in relation to its 
liabilities and provide an analysis of the trends in the levels of 
reserves and liabilities and the composition of its insurance and 
finance portfolios, including OPIC's investment funds.
            (5) OPIC should double the dollar value of its support for 
        small businesses over the next four years.
            (6) In administering the programs and activities of the 
        ITA, the Secretary of Commerce should give particular emphasis 
        to obtaining market access for United States firms and to 
        securing full compliance with bilateral and multilateral trade 
        agreements.
            (7) The ITA should facilitate the entrance of United States 
        businesses into the countries of sub-Saharan Africa and Latin 
        America.
            (8) The Commercial Service, within the ITA, should consider 
        expanding its presence in urban areas and in urban enterprise 
        areas.

SEC. 4. OPIC ISSUING AUTHORITY.

    Section 235(a)(2) of the Foreign Assistance Act of 1961 (22 U.S.C. 
2195(a)(3)) is amended by striking ``1999'' and inserting ``2003''.

SEC. 5. TRADE AND DEVELOPMENT AGENCY.

    (a) Purpose.--Section 661(a) of the Foreign Assistance Act of 1961 
(22 U.S.C. 2421(a)) is amended by inserting before the period at the 
end of the second sentence the following: ``, with special emphasis on 
economic sectors with significant United States export potential, such 
as energy, transportation, telecommunications, and environment''.
    (b) Contributions of Costs.--Section 661(b) of the Foreign 
Assistance Act of 1961 (22 U.S.C. 2421(b)) is amended by adding at the 
end the following:
            ``(5) Contributions to costs.--The Trade and Development 
        Agency shall, to the maximum extent practicable, require 
        corporations and other entities to--
                    ``(A) share the costs of feasibility studies and 
                other project planning services funded under this 
                section; and
                    ``(B) reimburse the Trade and Development Agency 
                those funds provided under this section, if the 
                corporation or entity concerned succeeds in 
                implementing the project for which the funds were 
                provided.''.
    (c) Funding.--Section 661(f) of the Foreign Assistance Act of 1961 
(22 U.S.C. 2421(f)) is amended--
            (1) in paragraph (1)(A) by striking ``$77,000,000'' and all 
        that follows through ``1996'' and inserting ``$48,000,000 for 
        fiscal year 2000 and such sums as may be necessary for each 
        fiscal year thereafter''; and
            (2) in paragraph (2)(A), by striking ``in fiscal years'' 
        and all that follows through ``provides'' and inserting ``in 
        carrying out its program, provide, as appropriate, funds''.

SEC. 6. PROGRAMS OF THE INTERNATIONAL TRADE ADMINISTRATION.

    (a) Funding.--There are authorized to be appropriated to the ITA--
            (1) for fiscal year 2000, $24,000,000 for its Market Access 
        and Compliance program, $68,000,000 for its Trade Development 
        program, and $202,000,000 for the Commercial Service program; 
        and
            (2) for each fiscal year thereafter, such sums as may be 
        necessary for the programs referred to in paragraph (1).
    (b) Appointments.--Subject to the availability of appropriations, 
the Secretary of Commerce, acting through the Assistant Secretary of 
Commerce and Director General of the United States and Foreign 
Commercial Service, shall take steps to ensure that Commercial Service 
employees are stationed in no fewer than 10 sub-Saharan African 
countries and that the Commercial Service has full-time employees in 
each country in South and Central America and an adequate number of 
employees in the Caribbean to ensure that United States businesses are 
made aware of existing market opportunities for goods and services.
    (c) Initiative for Sub-Saharan Africa and Latin America.--The 
Assistant Secretary of Commerce and Director General of the United 
States and Foreign Commercial Service shall make a special effort to--
            (1) identify those goods and services of United States 
        companies which are not being exported to Latin America and 
        sub-Saharan Africa but which are being exported to countries in 
        those regions by competitor nations;
            (2) identify trade barriers and noncompetitive actions, 
        including violations of intellectual property rights, that are 
        preventing or hindering the operation of United States 
        companies in sub-Saharan Africa and Latin America;
            (3) publish on an annual basis the information obtained 
        under paragraphs (1) and (2);
            (4) bring such information to the attention of authorities 
        in sub-Saharan Africa and Latin America with the goal of 
        securing greater market access for United States exporters of 
        goods and services; and
            (5) report to the Speaker of the House of Representatives 
        and the President of the Senate the results of the efforts to 
        increase the sales of United States goods and services in sub-
        Saharan Africa and Latin America.
    (d) Global Diversity and Urban Export Initiative for the ITA.--The 
ITA shall undertake an initiative entitled the ``Global Diversity and 
Urban Export Initiative'' to increase exports from minority-owned 
businesses, focusing on businesses in under-served areas, including 
inner-city urban areas and urban enterprise zones. The initiative 
should use electronic commerce technology and products as another means 
of helping urban-based and minority-owned businesses export overseas.
    (e) Authorization for Advertising.--The ITA is authorized to 
advertise in newspapers, business journals, and other relevant 
publications and related media to inform businesses about the services 
offered by the ITA.

SEC. 7. BOARD OF DIRECTORS.

    Section 233(b) of the Foreign Assistance Act of 1961 (22 U.S.C. 
2193(b)) is amended--
            (1) by striking the second and third sentences;
            (2) in the fourth sentence by striking ``(other than the 
        President of the Corporation, appointed pursuant to subsection 
        (c) who shall serve as a Director, ex officio)'';
            (3) in the second undesignated paragraph--
                    (A) by inserting ``the President of the 
                Corporation, the Administrator of the Agency for 
                International Development, the United States Trade 
                Representative, and'' after ``including''; and
                    (B) by adding at the end the following: ``The 
                United States Trade Representative may designate a 
                Deputy United States Trade Representative to serve on 
                the Board in place of the United States Trade 
                Representative.''; and
            (4) by inserting after the second undesignated paragraph 
        the following:
    ``There shall be a Chairman and a Vice Chairman of the Board, both 
of whom shall be designated by the President of the United States from 
among the Directors of the Board other than those appointed under the 
second sentence of the first paragraph of this subsection.''.

SEC. 8. STRATEGIC EXPORT PLAN.

    Section 2312(c) of the Export Enhancement Act of 1988 (15 U.S.C. 
4727(c)) is amended--
            (1) by striking ``and'' at the end of paragraph (5);
            (2) by striking the period at the end of paragraph (6) and 
        inserting a semicolon; and
            (3) by adding at the end the following:
            ``(7) ensure that all export promotion activities of the 
        Agency for International Development are fully coordinated and 
        consistent with those of other agencies;
            ``(8) identify means for providing more coordinated and 
        comprehensive export promotion services to, and on behalf of, 
        small and medium-sized businesses; and
            ``(9) establish a set of priorities to promote United 
        States exports to, and free market reforms in, the Middle East, 
        Africa, Latin America, and other emerging markets, that are 
        designed to stimulate job growth both in the United States and 
        those regions and emerging markets.''.

SEC. 9. IMPLEMENTATION OF PRIMARY OBJECTIVES.

    The Trade Promotion Coordinating Committee shall--
            (1) report on the actions taken or efforts currently 
        underway to eliminate the areas of overlap and duplication 
        identified among Federal export promotion activities;
            (2) coordinate efforts to sponsor or promote any trade show 
        or trade fair;
            (3) work with all relevant State and national 
        organizations, including the National Governors' Association, 
        that have established trade promotion offices;
            (4) report on actions taken or efforts currently underway 
        to promote better coordination between State, Federal, and 
        private sector export promotion activities, including co-
        location, cost sharing between Federal, State, and private 
        sector export promotion programs, and sharing of market 
        research data; and
            (5) by not later than September 30, 1999, include the 
        matters addressed in paragraphs (1), (2), (3), and (4) in the 
        annual report required to be submitted under section 2312(f) of 
        the Export Enhancement Act of 1988 (15 U.S.C. 4727(f)).
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