[Congressional Bills 107th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2871 Reported in House (RH)]
Union Calendar No. 178
107th CONGRESS
1st Session
H. R. 2871
[Report No. 107-292]
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
November 15, 2001
Reported with an amendment, committed to the Committee of the Whole
House on the State of the Union, and ordered to be printed
[Strike out all after the enacting clause and insert the part printed
in italic]
[For text of introduced bill, see copy of bill as introduced on
September 10, 2001]
_______________________________________________________________________
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. 18. Authority to deny application for assistance based on fraud or
corruption by the applicant.
Sec. 19. Consideration of foreign country helpfulness in efforts to
eradicate terrorism.
Sec. 20. Outstanding orders and preliminary injury determinations.
Sec. 21. Sense of the Congress relating to renewable energy targets.
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(a) 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,
guarantees, 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) Office on Africa.--
``(1) Establishment.--There is established in the Bank an
Office on Africa.
``(2) Function.--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) Reports.--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.
(a) In General.--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.
(b) Outreach to Businesses Owned by Socially Disadvantaged
Individuals or Women.--Section 2(b)(1)(E)(iii)(II) of such Act (12
U.S.C. 635(b)(1)(E)(iii)(II)) is amended by inserting after ``Bank''
the following: ``, with particular emphasis on conducting outreach and
increasing loans to businesses not less than 51 percent of which are
directly and unconditionally owned by 1 or more socially disadvantaged
individuals (as defined in section 8(a)(5) of the Small Business Act)
or women,''.
(c) Office for Small Business Exporters.--Section 3 of such Act (12
U.S.C. 635a) is further amended by adding at the end the following:
``(h) Office for Small Business Exporters.--
``(1) Establishment.--There is established in the Bank an
Office for Small Business Exporters.
``(2) Function.--The Office for Small Business Exporters
shall focus on increasing Bank activities to enhance small
business exports and to meet the unique trade finance needs of small
business exporters.
``(3) Reports.--The Office for Small Business Exporters
shall, from time to time not less than annually, report to the
Board on the how the Office for Small Business Exporters is
achieving the goals as described in paragraph (2).
``(4) Sense of congress.--It is the sense of the Congress
that the Bank should redirect and prioritize existing resources
and personnel to establish the Office for Small Business
Exporters.''.
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 Windows.--
(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''; 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.''.
(d) Outreach to Businesses Owned by Socially Disadvantaged
Individuals or by Women.--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 outreach
efforts made by the Bank to any business not less than 51 percent of
which is directly and unconditionally owned by 1 or more socially
disadvantaged individuals (as defined in section 8(a)(5) of the Small
Business Act) or women, and any data on the results of such efforts.''.
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)).
SEC. 18. AUTHORITY TO DENY APPLICATION FOR ASSISTANCE BASED ON FRAUD OR
CORRUPTION BY THE APPLICANT.
Section 2 of the Export-Import Bank Act of 1945 (12 U.S.C. 635) is
amended by adding at the end the following:
``(f) Authority to Deny Application for Assistance Based on Fraud
or Corruption by Party to the Transaction.--In addition to any other
authority of the Bank, the Bank may deny an application for assistance
with respect to a transaction if the Bank has substantial credible
evidence that any party to the transaction has committed an act of
fraud or corruption in connection with a transaction involving a good
or service that is the same as, or substantially similar to, a good or
service the export of which is the subject of the application.''.
SEC. 19. CONSIDERATION OF FOREIGN COUNTRY HELPFULNESS IN EFFORTS TO
ERADICATE TERRORISM.
Section 2(b)(1) of the Export-Import Bank Act of 1945 (12 U.S.C.
635(b)(1)) is further amended by adding at the end the following:
``(L) It is further the policy of the United States that, in
considering whether to guarantee, insure, or extend credit, or
participate in the extension of credit in connection with the purchase
of any product, technical data, or information by a national or agency
of any nation, the Bank shall take into account the extent to which the
nation has been helpful or unhelpful in efforts to eradicate terrorism.
The Bank shall consult with the Department of State to determine the
degreee to which each relevant nation has been helpful or unhelpful in
efforts to eradicate terrorism.''.
SEC. 20. OUTSTANDING ORDERS AND PRELIMINARY INJURY DETERMINATIONS.
Section 2(e) of the Export-Import Bank Act of 1945 (12 U.S.C.
635(e)) is amended--
(1) in paragraph (2), by striking ``Paragraph (1)'' and
inserting ``Paragraphs (1) and (2)''; and
(2) by redesignating paragraphs (2) and (3) as paragraphs
(3) and (4) and by inserting after paragraph (1) the following:
``(2) Outstanding orders and preliminary injury
determinations.--
``(A) Orders.--The Bank shall not provide any loan
or guarantee to an entity for the resulting production
of substantially the same product that is the subject
of--
``(i) a countervailing duty or antidumping
order under title VII of the Tariff Act of
1930; or
``(ii) a determination under title II of
the Trade Act of 1974.
``(B) Affirmative determination.--Within 60 days
after the date of the enactment of this Act, the Bank
shall establish procedures regarding loans or
guarantees provided to any entity that is subject to a
preliminary determination of a reasonable indication of
material injury to an industry under title VII of the
Tariff Act of 1930. The procedures shall help to ensure
that these loans and guarantees are likely to not
result in a significant increase in imports of
substantially the same product covered by the
preliminary determination and are likely to not have a
significant adverse impact on the domestic industry.
The Bank shall report to the Committee on Financial
Services of the House of Representatives and the
Committee on Banking, Housing, and Urban Affairs of the
Senate on the implementation of these procedures.
``(C) Comment period.--The Bank shall establish
procedures under which the Bank shall notify interested
parties and provide a comment period with regard to
loans or guarantees reviewed pursuant to subparagraph
(B).''.
SEC. 21. SENSE OF THE CONGRESS RELATING TO RENEWABLE ENERGY TARGETS.
(a) Allocation of Assistance Among Energy Projects.--It is the
sense of the Congress that, of the total amount available to the
Export-Import Bank of the United States for the extension of credit for
transactions related to energy projects, the Bank should, not later
than the beginning of fiscal year 2006, use--
(1) not more than 95 percent for transactions related to
fossil fuel projects; and
(2) not less than 5 percent for transactions related to
renewable energy and energy efficiency projects.
(b) Definition of Renewable Energy.--In this section, the term
``renewable energy'' means projects related to solar, wind, biomass,
fuel cell, landfill gas, or geothermal energy sources.
Union Calendar No. 178
107th CONGRESS
1st Session
H. R. 2871
[Report No. 107-292]
_______________________________________________________________________
A BILL
To reauthorize the Export-Import Bank of the United States, and for
other purposes.
_______________________________________________________________________
November 15, 2001
Reported with an amendment, committed to the Committee of the Whole
House on the State of the Union, and ordered to be printed