[Congressional Bills 107th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2871 Introduced in House (IH)]







107th CONGRESS
  1st Session
                                H. R. 2871

  To reauthorize the Export-Import Bank of the United States, and for 
                            other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           September 10, 2001

 Mr. Bereuter introduced the following bill; which was referred to the 
                    Committee on Financial Services

_______________________________________________________________________

                                 A BILL


 
  To reauthorize the Export-Import Bank of the United States, 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; TABLE OF CONTENTS.

    (a) Short Title.--This Act may be cited as the ``Export-Import Bank 
Reauthorization Act of 2001''.
    (b) Table of Contents.--The table of contents of this Act is as 
follows:

Sec. 1. Short title; table of contents.
Sec. 2. Clarification that purposes include United States employment.
Sec. 3. Extension of authority.
Sec. 4. Administrative expenses.
Sec. 5. Increase in aggregate loan, guarantee, and insurance authority.
Sec. 6. Activities relating to Africa.
Sec. 7. Small business.
Sec. 8. Technology.
Sec. 9. Tied Aid Credit Fund.
Sec. 10. Expansion of authority to use Tied Aid Credit Fund.
Sec. 11. Renaming of Tied Aid Credit Program and Fund as Export 
                            Competitiveness Program and Fund.
Sec. 12. Annual competitiveness report.
Sec. 13. Renewable energy sources.
Sec. 14. GAO reports.
Sec. 15. Human rights.
Sec. 16. Steel.
Sec. 17. Correction of references.

SEC. 2. CLARIFICATION THAT PURPOSES INCLUDE UNITED STATES EMPLOYMENT.

    Section 2(a)(1) of the Export-Import Bank Act of 1945 (12 U.S.C. 
635(a)(1)) is amended by striking the 2nd sentence and inserting the 
following: ``The objects and purposes of the Bank shall be to aid in 
financing and to facilitate exports of goods and services, imports, and 
the exchange of commodities and services between the United States or 
any of its territories or insular possessions and any foreign country 
or the agencies or nationals of any such country, and in so doing to 
contribute to the employment of United States workers. To further meet 
the objective set forth in the preceding sentence, the Bank shall 
ensure that its loans, guarantees, insurance, and credits are 
contributing to maintaining or increasing employment of United States 
workers.''.

SEC. 3. EXTENSION OF AUTHORITY.

    Section 7 of the Export-Import Bank Act of 1945 (12 U.S.C. 635f) 
and section 1(c) of Public Law 103-428 (12 U.S.C. 635 note; 108 Stat. 
4376) are each amended by striking ``2001'' and inserting ``2005''.

SEC. 4. ADMINISTRATIVE EXPENSES.

    (a) Limitations on Authorization of Appropriations.--Section 3 of 
the Export-Import Bank Act of 1945 (12 U.S.C. 635a) is amended by 
adding at the end the following:
    ``(f) Limitations on Authorization of Appropriations for 
Administrative Expenses.--
            ``(1) In general.--For administrative expenses incurred by 
        the Bank, including technology-related expenses to carry out 
        section 2(b)(1)(E)(x), there are authorized to be appropriated 
        to the Bank not more than--
                    ``(A) for fiscal year 2002, $80,000,000; and
                    ``(B) for each of fiscal years 2003 through 2005, 
                the amount authorized by this paragraph to be 
                appropriated for the then preceding fiscal year, 
                increased by the inflation percentage (as defined in 
                section 6(a)(2)(B)) applicable to the then current 
                fiscal year.
            ``(2) Outreach to small businesses with fewer than 100 
        employees.--Of the amount appropriated pursuant to paragraph 
        (1), there shall be available for outreach to small business 
        concerns (as defined under section 3 of the Small Business Act) 
        employing fewer than 100 employees, not more than--
                    ``(A) $2,000,000 for fiscal year 2002; and
                    ``(B) for each of fiscal years 2003 through 2005, 
                the amount required by this paragraph to be made 
                available for the then preceding fiscal year, increased 
                by the inflation percentage (as defined in section 
                6(a)(2)(B)) applicable to the then current fiscal 
                year.''.
    (b) Required Budget Subcategories.--Section 1105 of title 31, 
United States Code, is amended by adding at the end the following:
            ``(34) with respect to the amount of appropriations 
        requested for use by the Export-Import Bank of the United 
        States, a separate statement of the amount requested for its 
        program budget, the amount requested for its administrative 
        expenses, and of the amount requested for its administrative 
        expenses, the amount requested for technology expenses and the 
        amount requested for expenses for outreach to small business 
        concerns (as defined under section 3 of the Small Business Act) 
        employing fewer than 100 employees.''.
    (c) Sense of the Congress on the Importance of Technology 
Improvements.--
            (1) Findings.--The Congress finds that--
                    (A) the Export-Import Bank of the United States is 
                in great need of technology improvements;
                    (B) part of the amount budgeted for administrative 
                expenses of the Export-Import Bank is used for 
                technology initiatives and systems upgrades for 
                computer hardware and software purchases;
                    (C) the Export-Import Bank is falling behind its 
                foreign competitor export credit agencies' proactive 
                technology improvements;
                    (D) small businesses disproportionately benefit 
                from improvements in technology;
                    (E) small businesses need Export-Import Bank 
                technology improvements in order to export transactions 
                quickly, with as great paper ease as possible, and with 
                a quick Bank turn-around time that does not overstrain 
                the tight resources of such businesses;
                    (F) the Export-Import Bank intends to develop a 
                number of e-commerce initiatives aimed at improving 
                customer service, including web-based application and 
                claim filing procedures which would reduce processing 
                time, speed payment of claims, and increase staff 
                efficiency;
                    (G) the Export-Import Bank is beginning the process 
                of moving insurance applications from an outdated 
                mainframe system to a modern, web-enabled database, 
                with new functionality including credit scoring, 
                portfolio management, work flow and e-commerce features 
                to be added; and
                    (H) the Export-Import Bank wants to continue its e-
                commerce strategy, including web site development, 
                expanding online applications and establishing a 
                public/private sector technology partnership.
            (2) Sense of the congress.--The Congress emphasizes the 
        importance of technology improvements for the Export-Import 
        Bank of the United States, which are of particular importance 
        for small businesses.

SEC. 5. INCREASE IN AGGREGATE LOAN, GUARANTEE, AND INSURANCE AUTHORITY.

    Section 6(a) of the Export-Import Bank Act of 1945 (12 U.S.C. 
635e(a)) is amended to read as follows:
    ``(a) Limitation on Outstanding Amounts.--
            ``(1) In general.--The Export-Import Bank of the United 
        States shall not have outstanding at any one time loans, 
        guaranties, and insurance in an aggregate amount in excess of 
        the applicable amount.
            ``(2) Applicable amount.--
                    ``(A) In general.--In paragraph (1), the term 
                `applicable amount' means--
                            ``(i) during fiscal year 2002, 
                        $100,000,000,000, increased by the inflation 
                        percentage applicable to fiscal year 2002;
                            ``(ii) during fiscal year 2003, 
                        $110,000,000,000, increased by the inflation 
                        percentage applicable to fiscal year 2003;
                            ``(iii) during fiscal year 2004, 
                        $120,000,000,000, increased by the inflation 
                        percentage applicable to fiscal year 2004; and
                            ``(iv) during fiscal year 2005, 
                        $130,000,000,000, increased by the inflation 
                        percentage applicable to fiscal year 2005.
                    ``(B) Inflation percentage.--For purposes of 
                subparagraph (A) of this paragraph, the inflation 
                percentage applicable to any fiscal year is the 
                percentage (if any) by which--
                            ``(i) the average of the Consumer Price 
                        Index (as defined in section 1(f)(5) of the 
                        Internal Revenue Code of 1986) for the 12-month 
                        period ending on December 31 of the immediately 
                        preceding fiscal year; exceeds
                            ``(ii) the average of the Consumer Price 
                        Index (as so defined) for the 12-month period 
                        ending on December 31 of the 2nd preceding 
                        fiscal year.
            ``(3) Subject to appropriations.--All spending and credit 
        authority provided under this Act shall be effective for any 
        fiscal year only to such extent or in such amounts as are 
        provided in appropriation Acts.''.

SEC. 6. ACTIVITIES RELATING TO AFRICA.

    (a) Extension of Advisory Committee for Sub-saharan Africa.--
Section 2(b)(9)(B)(iii) of the Export-Import Bank Act of 1945 (12 
U.S.C. 635(b)(9)(B)(iii)) is amended by striking ``4 years after the 
date of enactment of this subparagraph'' and inserting ``on September 
30, 2005''.
    (b) Coordination of Africa Activities.--Section 2(b)(9)(A) of the 
Export-Import Bank Act of 1945 (12 U.S.C. 635(b)(9)(A)) is amended by 
inserting ``, in consultation with the Department of Commerce and the 
Trade Promotion Coordinating Council,'' after ``shall''.
    (c) Continued Reports to the Congress.--Section 7(b) of the Export-
Import Bank Reauthorization Act of 1997 (12 U.S.C. 635 note) is amended 
by striking ``4'' and inserting ``8''.
    (d) Creation of Office on Africa.--Section 3 of the Export-Import 
Bank Act of 1945 (12 U.S.C. 635a) is further amended by adding at the 
end the following:
    ``(g)(1) There is established in the Bank an Office on Africa.
    ``(2) The Office on Africa shall focus on increasing Bank 
activities in Africa and increasing visibility among United States 
companies of African markets for exports.
    ``(3) The Office on Africa shall, from time to time not less than 
annually, report to the Board on the matters described in paragraph 
(2).''.

SEC. 7. SMALL BUSINESS.

    Section 2(b)(1)(E)(v) of the Export-Import Bank Act of 1945 (12 
U.S.C. 635(b)(1)(E)(v)) is amended--
            (1) by striking ``10'' and inserting ``20''; and
            (2) by inserting ``, and from such amount, not less than 8 
        percent of such authority shall be made available for small 
        business concerns employing fewer than 100 employees'' before 
        the period.

SEC. 8. TECHNOLOGY.

    (a) Small Business.--Section 2(b)(1)(E) of the Export-Import Bank 
Act of 1945 (12 U.S.C. 635(b)(1)(E)) is amended by adding at the end 
the following:
    ``(x) The Bank shall implement technology improvements which are 
designed to improve small business outreach, including allowing 
customers to use the Internet to apply for all Bank programs.''.
    (b) Electronic Tracking of Pending Transactions.--Section 2(b)(1) 
of such Act (12 U.S.C. 635(b)(1)) is amended by adding at the end the 
following:
    ``(J) The Bank shall implement an electronic system designed to 
track all pending transactions of the Bank.''.
    (c) Reports.--
            (1) In general.--During each of fiscal years 2002 through 
        2005, the Export-Import Bank of the United States shall submit 
        to the Committees on Financial Services and on Appropriations 
        of the House of Representatives and the Committees on Banking, 
        Housing, and Urban Affairs and on Appropriations of the Senate 
        an interim report and a final report on the efforts made by the 
        Bank to carry out subsections (E)(x) and (J) of section 2(b)(1) 
        of the Export-Import Bank Act of 1945, and on how the efforts 
        are assisting small businesses.
            (2) Timing.--The interim report required by paragraph (1) 
        for a fiscal year shall be submitted April 30 of the fiscal 
        year, and the final report so required for a fiscal year shall 
        be submitted on November 1 of the succeeding fiscal year.

SEC. 9. TIED AID CREDIT FUND.

    (a) Process and Standards.--Section 10(b) of the Export-Import Bank 
Act of 1945 (12 U.S.C. 635i-3(b)) is amended--
            (1) in paragraph (2)(A), by striking ``Secretary's 
        recommendations'' and all that follows and inserting ``process 
        and standards developed pursuant to paragraph (5)''; and
            (2) by adding at the end the following:
            ``(5) Process and standards governing use of the fund.--
                    ``(A) In general.--The Secretary shall develop a 
                process for, and the standards to be used in, 
                determining how the amounts in the Tied Aid Credit Fund 
                could be used most effectively and efficiently to carry 
                out the purposes of subsection (a)(6).
                    ``(B) Content of process and standards.--
                            ``(i) Consideration of certain standards.--
                        In developing the standards referred to in 
                        subparagraph (A), the Secretary shall consider 
                        administering the Tied Aid Credit Fund in 
                        accordance with the following standards:
                                    ``(I) The Tied Aid Credit Fund will 
                                be used to counter a foreign tied aid 
                                credit confronted by a United States 
                                exporter when bidding for a capital 
                                project.
                                    ``(II) Credible information about 
                                an offer of foreign tied aid will be 
                                required before the Tied Aid Credit 
                                Fund is used to offer specific terms to 
                                match such an offer.
                                    ``(III) The Tied Aid Credit Fund 
                                will be used to enable a competitive 
                                United States exporter to pursue 
                                further market opportunities made 
                                possible by the use of the Fund.
                                    ``(IV) Each use of the Tied Aid 
                                Credit Fund will be in accordance with 
                                the Arrangement unless a breach of the 
                                Arrangement has been committed by a 
                                foreign export credit agency.
                                    ``(V) The Tied Aid Credit Fund will 
                                be used to defend potential sales by 
                                United States companies to a project 
                                that is environmentally sound.
                                    ``(VI) The Tied Aid Credit Fund 
                                will be used to preemptively counter 
                                potential foreign tied aid offers 
                                without triggering foreign tied aid 
                                use.
                            ``(ii) Limitation.--The process and 
                        standards referred to in subparagraph (A) shall 
                        not result in the Secretary having the 
                        authority to veto a specific deal.
                    ``(C) Initial report.--As soon as is practicable 
                but not later than 6 months after the date of the 
                enactment of this paragraph, the Secretary shall submit 
                to the Committee on Financial Services of the House of 
                Representatives and the Committee on Banking, Housing, 
                and Urban Affairs of the Senate a report on the process 
                and standards developed pursuant to subparagraph (A).
                    ``(D) Transitional standards.--The standards set 
                forth in subparagraph (B)(i) shall govern the use of 
                the Tied Aid Credit Fund until the report required by 
                subparagraph (C) is submitted.
                    ``(E) Update and revision; reports.--The Secretary 
                should update and revise, as needed, the process and 
                standards developed pursuant to subparagraph (A), and, 
                on doing so, shall submit to the Committee on Financial 
                Services of the House of Representatives and the 
                Committee on Banking, Housing, and Urban Affairs of the 
                Senate a report on the process and standards so updated 
                and revised.''.
    (b) Reconsideration of Board Decisions on Use of Fund.--Section 
10(b) of such Act (12 U.S.C. 635i-3(b)) is further amended by adding at 
the end the following:
            ``(6) Reconsideration of decisions.--
                    ``(A) In general.--Taking into consideration the 
                time sensitivity of transactions, the Board of 
                Directors of the Bank shall expeditiously reconsider a 
                decision of the Board to deny an application of the use 
                of the Tied Aid Credit Fund if the applicant submits 
                the request for reconsideration within 3 months of the 
                denial.
                    ``(B) Procedural rules.--In any such 
                reconsideration, the applicant may, but shall not be 
                required to, provide new information on the 
                application.''.

SEC. 10. EXPANSION OF AUTHORITY TO USE TIED AID CREDIT FUND.

    (a) Untied Aid.--
            (1) Negotiations.--The Secretary of the Treasury shall seek 
        to negotiate an OECD Arrangement on Untied Aid. In the 
        negotiations, the Secretary shall seek agreement on subjecting 
        untied aid  to the rules governing the Arrangement, including 
the rules governing disclosure.
            (2) Report to the congress.--Within 1 year after the date 
        of the enactment of this Act, the Secretary of the Treasury 
        shall submit to the Committee on Financial Services of the 
        House of Representatives and the Committee on Banking, Housing, 
        and Urban Affairs of the Senate a report on the successes, 
        failures, and obstacles in reaching the agreement described in 
        paragraph (1).
    (b) Market Widows.--
            (1) Negotiations.--The Secretary of the Treasury shall seek 
        to negotiate an OECD Arrangement on Market Windows. In the 
        negotiations, the Secretary shall seek agreement on subjecting 
        market windows to the rules governing the Arrangement, 
        including the rules governing disclosure.
            (2) Report to the congress.--Within 2 years after the date 
        of the enactment of this Act, the Secretary of the Treasury 
        shall submit to the Committee on Financial Services of the 
        House of Representatives and the Committee on Banking, Housing, 
        and Urban Affairs of the Senate a report on the successes, 
        failures, and obstacles in reaching the agreement described in 
        paragraph (1).
    (c) Use of Tied Aid Credit Fund to Combat Untied Aid and Market 
Windows.--Section 10 of the Export-Import Bank Act of 1945 (12 U.S.C. 
635i-3) is amended--
            (1) in subsection (a)--
                    (A) in paragraph (1), by inserting ``, and market 
                windows used by'' before ``other countries'';
                    (B) in paragraph (4), by striking ``and'' at the 
                end;
                    (C) in paragraph (5), by inserting ``, or market 
                windows,'' before ``for commercial'' the 1st and 3rd 
                places it appears; and
                    (D) by redesignating paragraph (5) as paragraph (6) 
                as inserting after paragraph (4) the following:
            ``(5) the Bank has, at a minimum, the following two tasks:
                    ``(A)(i) First, the Bank should match, and even 
                overmatch, foreign export credit agencies when they 
                engage in tied aid outside the confines of the 
                Arrangement and when they exploit loopholes, such as 
                market windows and untied aid;
                    ``(ii) such matching and overmatching is needed to 
                provide the United States with leverage in efforts at 
                the OECD to reduce the overall level of export 
                subsidies;
                    ``(iii) only through matching or bettering foreign 
                export credit offers can the Bank buttress United 
                States negotiators in their efforts to bring these 
                loopholes within the disciplines of the Arrangement; 
                and
                    ``(iv) in order to bring market windows within the 
                discipline of the Arrangement, the Bank should 
                sometimes initiate highly competitive financial support 
                when the Bank learns that foreign market window support 
                may be part of a transaction; and
                    ``(B) Second, the Bank should support United States 
                exporters when the exporters face foreign competition 
                that is consistent with the letter and spirit of the 
                Arrangement and the Subsidies Code of the World Trade 
                Organization, but which nonetheless is more generous 
                than the terms available from the private financial 
                market; and''.
            (2) in subsection (b)(1)--
                    (A) in subparagraph (A), by inserting ``and market 
                windows used'' after ``extended''; and
                    (B) in subparagraph (B)(i), by inserting ``or 
                market windows'' after ``untied aid credits''.
    (d) Definition of Market Window.--Section 10(h) of such Act (12 
U.S.C. 635i-3(h)) is amended by adding at the end the following:
    ``(7) Market Window.--The term `market window' means the provision 
of export financing through an institution (or a part of an 
institution) that claims to operate on a commercial basis while 
benefiting directly or indirectly from some level of government 
support.''.

SEC. 11. RENAMING OF TIED AID CREDIT PROGRAM AND FUND AS EXPORT 
              COMPETITIVENESS PROGRAM AND FUND.

    Section 10 of the Export-Import Bank Act of 1945 (12 U.S.C. 635i-3) 
is further amended--
            (1) by striking all that precedes paragraph (1) of 
        subsection (a) and inserting the following:

``SEC. 10. EXPORT COMPETITIVENESS FUND.

    ``(a) Findings.--The Congress finds that--'';
            (2) in subsection (a)(6) (as so redesignated by section 
        9(c)(1)(D) of this Act), by striking ``tied aid program'' and 
        inserting ``export competitiveness program'';
            (3) in the heading of subsection (b), by striking ``Tied 
        Aid Credit'' and inserting ``Export Competitiveness'';
            (4) in subsection (b)(1)--
                    (A) by striking ``tied aid credit program'' and 
                inserting ``export competitiveness program''; and
                    (B) by striking ``Tied Aid Credit fund'' and 
                inserting ``Export Competitiveness Fund'';
            (5) in subsection (b)(2), by striking ``tied aid credit 
        program'' and inserting ``export competitiveness program'';
            (6) in subsection (b)(3)--
                    (A) by striking ``tied aid credit program'' and 
                inserting ``export competitiveness program''; and
                    (B) by striking ``Tied Aid Credit Fund'' and 
                inserting ``Export Competitiveness Fund'';
            (7) in subsection (b)(5) (as added by section 9(a)(2) of 
        this Act), by striking ``Tied Aid Credit Fund'' each place it 
        appears and inserting ``Export Competitiveness Fund'';
            (8) in subsection (b)(6) (as added by section 9(b) of this 
        Act), by striking ``Tied Aid Credit Fund'' and inserting 
        ``Export Competitiveness Fund'';
            (9) in subsection (c)--
                    (A) in the subsection heading, by striking ``Tied 
                Aid Credit'' and inserting ``Export Competitiveness''; 
                and
                    (B) in paragraph (1), by striking ``Tied Aid 
                Credit'' and inserting ``Export Competitiveness'';
            (10) in subsection (d), by striking ``tied aid credit'' and 
        inserting ``export competitiveness''; and
            (11) in subsection (g)(2)(C), by striking ``Tied Aid 
        Credit'' and inserting ``Export Competitiveness''.

SEC. 12. ANNUAL COMPETITIVENESS REPORT.

    (a) Timing.--
            (1) In general.--Section 2(b)(1)(A) of the Export-Import 
        Bank Act of 1945 (12 U.S.C. 635(b)(1)(A)) is amended in the 4th 
        sentence by striking ``on an annual basis'' and inserting ``on 
        June 30 of each year''.
            (2) Applicability.--The amendment made by paragraph (1) 
        shall apply to reports for calendar years after calendar year 
        2000.
    (b) Additional Matters To Be Addressed.--Section 2(b)(1)(A) of such 
Act (12 U.S.C. 635(b)(1)(A)) is amended by adding at the end the 
following: ``The Bank shall include in the annual report a description 
of the volume of financing provided by each foreign export credit 
agency, and a description of all Bank transactions which shall be 
classified according to their principal purpose, such as to correct a 
market failure or to provide matching support.''.
    (c) Number of Small Business Suppliers of Bank Users.--Section 
2(b)(1)(A) of such Act (12 U.S.C. 635(b)(1)(A)) is further amended by 
adding at the end the following: ``The Bank shall estimate on the basis 
of an annual survey or tabulation the number of entities that are 
suppliers of users of the Bank and that are small business concerns (as 
defined under section 3 of the Small Business Act) located in the 
United States, and shall include the estimate in the annual report.''.

SEC. 13. RENEWABLE ENERGY SOURCES.

    (a) Promotion.--Section 2(b)(1) of the Export-Import Bank Act of 
1945 (12 U.S.C. 635(b)(1)), as amended by section 8(b) of this Act, is 
amended by adding at the end the following:
    ``(K) The Bank shall promote the export of goods and services 
related to renewable energy sources.''.
    (b) Description of Efforts To Be Included in Annual Competitiveness 
Report.--Section 2(b)(1)(A) of such Act (12 U.S.C. 635(b)(1)(A)) is 
further amended by adding at the end the following: ``The Bank shall 
include in the annual report a description of the efforts undertaken 
under subparagraph (K).''.

SEC. 14. GAO REPORTS.

    (a) Potential of WTO to Remedy Untied Aid and Market Windows.--
Within 1 year after the date of the enactment of this Act, the 
Comptroller General of the United States shall submit to the Committee 
on Financial Services of the House of Representatives and the Committee 
on Banking, Housing, and Urban Affairs of the Senate a report that 
examines--
            (1) whether a case could be brought by the United States in 
        the World Trade Organization seeking relief against untied aid 
        and market windows, and if so, the kinds of relief that would 
        be available if the United States were to prevail in such a 
        case; and
            (2) the scope of penalty tariffs that the United States 
        could impose against imports from a country that uses untied 
        aid or market windows.
    (b) Comparative Reserve Practices of Export Credit Agencies and 
Private Banks.--Within 1 year after the date of the enactment of this 
Act, the Comptroller General of the United States shall submit to the 
Committee on Financial Services of the House of Representatives and the 
Committee on Banking, Housing, and Urban Affairs of the Senate a report 
that examines the reserve ratios of the Export-Import Bank of the 
United States as compared with the reserve practices of private banks 
and foreign export credit agencies.

SEC. 15. HUMAN RIGHTS.

    Section 2(b)(1)(B) of the Export-Import Bank Act of 1945 (12 U.S.C. 
635(b)(1)(B)) is amended by inserting ``(as provided in the Universal 
Declaration of Human Rights adopted by the United Nations General 
Assembly on December 10, 1948)'' after ``human rights''.

SEC. 16. STEEL.

    (a) Reevaluation.--The Export-Import Bank of the United States 
shall re-assess the effects of the approval by the Bank of an 
$18,000,000 medium-term guarantee to support the sale of computer 
software, control systems, and main drive power supplies to Benxi Iron 
& Steel Company, in Benxi, Liaoning, China, for the purpose of 
evaluating whether the adverse impact test of the Bank sufficiently 
takes account of the interests of United States industries.
    (b) Report to the Congress.--Within 1 year after the date of the 
enactment of this Act, the Export-Import Bank of the United States 
shall submit to the Committee on Financial Services of the House of 
Representatives and the Committee on Banking, Housing, and Urban 
Affairs of the Senate a report on the re-assessment required by 
subsection (a).

SEC. 17. CORRECTION OF REFERENCES.

    (a) Section 2(b)(1)(B) of the Export-Import Bank Act of 1945 (12 
U.S.C. 635(b)(1)(B)) is amended by striking ``Banking and''.
    (b) Each of the following provisions of the Export-Import Bank Act 
of 1945 is amended by striking ``Banking, Finance and Urban Affairs'' 
and inserting ``Financial Services'':
            (1) Section 2(b)(6)(D)(i)(III) (12 U.S.C. 
        635(b)(6)(D)(i)(III)).
            (2) Section 2(b)(6)(H) (12 U.S.C. 635(b)(6)(H)).
            (3) Section 2(b)(6)(I)(i)(II) (12 U.S.C. 
        635(b)(6)(I)(i)(II)).
            (4) Section 2(b)(6)(I)(iiii) (12 U.S.C. 635(b)(6)(I)(iii)).
            (5) Section 10(g)(1) (12 U.S.C. 635i-3(g)(1)).
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