[Congressional Bills 109th Congress]
[From the U.S. Government Publishing Office]
[S. 3938 Enrolled Bill (ENR)]
S.3938
One Hundred Ninth Congress
of the
United States of America
AT THE SECOND SESSION
Begun and held at the City of Washington on Tuesday,
the third day of January, two thousand and six
An Act
To reauthorize the Export-Import Bank of the United States.
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 2006''.
(b) Table of Contents.--
Sec. 1. Short title; table of contents.
Sec. 2. Extension of authority.
Sec. 3. Sub-Saharan Africa Advisory Committee.
Sec. 4. Extension of authority to provide financing for the export of
nonlethal defense articles or services the primary end use of
which will be for civilian purposes.
Sec. 5. Designation of sensitive commercial sectors and products.
Sec. 6. Increasing exports by small business.
Sec. 7. Anti-circumvention.
Sec. 8. Transparency.
Sec. 9. Aggregate loan, guarantee, and insurance authority.
Sec. 10. Tied aid credit program.
Sec. 11. Prohibition on assistance to develop or promote certain railway
connections and railway-related connections.
Sec. 12. Process for notifying applicants of application status;
implementation of Ex-Im Online.
Sec. 13. Competitiveness initiatives.
Sec. 14. Office of financing for socially and economically disadvantaged
small business concerns and small business concerns owned by
women.
Sec. 15. Governance.
Sec. 16. Sense of Congress regarding multi-buyer insurance and capital
guarantee programs.
Sec. 17. Sense of Congress regarding office of renewable energy
promotion.
Sec. 18. Environmental matters.
Sec. 19. Government Accountability Office study of bank performance
standards for assistance to small businesses, especially those
owned by social and economically disadvantaged individuals and
those owned by women.
Sec. 20. Reports.
Sec. 21. Study of how Export-Import Bank could assist United States
exporters to meet import needs of new or impoverished
democracies; report.
SEC. 2. EXTENSION OF AUTHORITY.
Section 7 of the Export-Import Bank Act of 1945 (12 U.S.C. 635f) is
amended by striking ``2006'' and inserting ``2011''.
SEC. 3. SUB-SAHARAN AFRICA ADVISORY COMMITTEE.
(a) Extension of Authority.--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 ``2006'' and inserting ``2011''.
(b) Improved Liaison With African Regional Financial
Institutions.--
(1) Master guarantee agreements.--Within 1 year after the date
of the enactment of this Act, the Export-Import Bank of the United
States shall seek to ensure that there is in effect a contract
between each approved lender in Africa and the Bank, which sets
forth the Bank's guarantee undertakings and related obligations
between the Bank and each lender.
(2) Report on working relationships with the african
development bank, the african export-import bank, and other
institutions.--Section 2(b)(9) of such Act (12 U.S.C. 635(b)(9)) is
amended by adding at the end the following:
``(C) The Bank shall include in the annual report to the Congress
submitted under section 8(a) a separate section that contains a report
on the efforts of the Bank to--
``(i) improve its working relationships with the African
Development Bank, the African Export-Import Bank, and other
institutions in the region that are relevant to the purposes of
subparagraph (A) of this paragraph; and
``(ii) coordinate closely with the United States Foreign
Service and Foreign Commercial Service, and with the overall
strategy of the United States Government for economic engagement
with Africa pursuant to the African Growth and Opportunity Act.''.
(c) Increasing the Number of Qualified African Entities.--Section
2(b)(9) of such Act (12 U.S.C. 635(b)(9)), as amended by subsection
(b), is amended by adding at the end the following:
``(D) Consistent with the requirement that the Bank obtain a
reasonable assurance of repayment in connection with each transaction
the Bank supports, the Bank shall, in consultation with the entities
described in subparagraph (C), seek to qualify a greater number of
appropriate African entities for participation in programs of the
Bank.''.
SEC. 4. EXTENSION OF AUTHORITY TO PROVIDE FINANCING FOR THE EXPORT OF
NONLETHAL DEFENSE ARTICLES OR SERVICES THE PRIMARY END
USE OF WHICH WILL BE FOR CIVILIAN PURPOSES.
Section 1(c) of Public Law 103-428 (12 U.S.C. 635 note; 108 Stat.
4376) is amended by striking ``2001'' and inserting ``2011''.
SEC. 5. DESIGNATION OF SENSITIVE COMMERCIAL SECTORS AND PRODUCTS.
Section 2(e) of the Export-Import Bank Act of 1945 (12 U.S.C.
635(e)) is amended by adding at the end the following new paragraph:
``(5) Designation of sensitive commercial sectors and
products.--Not later than 120 days after the date of the enactment
of this Act, the Bank shall submit a list to the Committee on
Banking, Housing, and Urban Affairs of the Senate and the Committee
on Financial Services of the House of Representatives, which
designates sensitive commercial sectors and products with respect
to which the provision of financing support by the Bank is deemed
unlikely by the President of the Bank due to the significant
potential for a determination that such financing support would
result in an adverse economic impact on the United States. The
President of the Bank shall review on an annual basis thereafter
the list of sensitive commercial sectors and products and the Bank
shall submit an updated list to the Committee on Banking, Housing,
and Urban Affairs of the Senate and the Committee on Financial
Services of the House of Representatives of such sectors and
products.''.
SEC. 6. INCREASING EXPORTS BY SMALL BUSINESS.
(a) In General.--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) Small Business Division.--
``(1) Establishment.--There is established a Small Business
Division (in this subsection referred to as the `Division') within
the Bank in order to--
``(A) carry out the provisions of subparagraphs (E) and (I)
of section 2(b)(1) relating to outreach, feedback, product
improvement, and transaction advocacy for small business
concerns (as defined in section 3(a) of the Small Business
Act);
``(B) advise and seek feedback from small business concerns
on the opportunities and benefits for small business concerns
in the financing products offered by the Bank, with particular
emphasis on conducting outreach, enhancing the tailoring of
products to small business needs and increasing loans to small
business concerns;
``(C) maintain liaison with the Small Business
Administration and other departments and agencies in matters
affecting small business concerns; and
``(D) provide oversight of the development, implementation,
and operation of technology improvements to strengthen small
business outreach, including the technology improvement
required by section 2(b)(1)(E)(x).
``(2) Management.--The President of the Bank shall appoint an
officer, who shall rank not lower than senior vice president and
whose sole executive function shall be to manage the Division. The
officer shall--
``(A) have substantial recent experience in financing
exports by small business concerns; and
``(B) advise the Board, particularly the director appointed
under section 3(c)(8)(B) to represent the interests of small
business, on matters of interest to, and concern for, small
business.
``(g) Small Business Specialists.--
``(1) Dedicated personnel.--The President of the Bank shall
ensure that each operating division within the Bank has staff that
specializes in processing transactions that primarily benefit small
business concerns (as defined in section 3(a) of the Small Business
Act).
``(2) Responsibilities.--The small business specialists shall
be involved in all aspects of processing applications for loans,
guarantees, and insurance to support exports by small business
concerns, including the approval or disapproval, or staff
recommendations of approval or disapproval, as applicable, of such
applications. In carrying out these responsibilities, the small
business specialists shall consider the unique business
requirements of small businesses and shall develop exporter
performance criteria tailored to small business exporters.
``(3) Approval authority.--In an effort to maximize the speed
and efficiency with which the Bank processes transactions primarily
benefitting small business concerns, the small business specialists
shall be authorized to approve applications for working capital
loans and guarantees, and insurance in accordance with policies and
procedures established by the Board. It is the sense of Congress
that the policies and procedures should not prohibit, where
appropriate, small business specialists from approving applications
for working capital loans and guarantees, and for insurance, in
support of exports which have a value of less than $10,000,000.
``(4) Identification.--The Bank shall prominently identify the
small business specialists on its website and in promotional
material.
``(5) Employee evaluations.--The evaluation of staff designated
by the President of the Bank under paragraph (1), including annual
reviews of performance of duties related to transactions in support
of exports by small business concerns, and any resulting
recommendations for salary adjustments, promotions, and other
personnel actions, shall address the criteria established pursuant
to subsection (h)(2)(B)(iii) and shall be conducted by the manager
of the relevant operating division following consultation with the
officer appointed to manage the Small Business Division pursuant to
subsection (f)(2).
``(6) Staff recommendations.--Staff recommendations of denial
or withdrawal for medium-term applications, exporter held multi-
buyer policies, single buyer policies, and working capital
applications processed by the Bank shall be transmitted to the
officer appointed to manage the Small Business Division pursuant to
subsection (f)(2) not later than 2 business days before a final
decision.
``(7) Rule of interpretation.--Nothing in this Act shall be
construed to prevent the delegation to the Division of any
authority necessary to carry out subparagraphs (E) and (I) of
section 2(b)(1).
``(h) Small Business Committee.--
``(1) Establishment.--There is established a management
committee to be known as the `Small Business Committee'.
``(2) Purpose and duties.--
``(A) Purpose.--The purpose of the Small Business Committee
shall be to coordinate the Bank's initiatives and policies with
respect to small business concerns (as defined in section 3(a)
of the Small Business Act), including the timely processing and
underwriting of transactions involving direct exports by small
business concerns, and the development and coordination of
efforts to implement new or enhanced Bank products and services
pertaining to small business concerns.
``(B) Duties.--The duties of the Small Business Committee
shall be determined by the President of the Bank and shall
include the following:
``(i) Assisting in the development of the Bank's small
business strategic plans, including the Bank's plans for
carrying out section 2(b)(1)(E) (v) and (x), and measuring
and reporting in writing to the President of the Bank, at
least once a year, on the Bank's progress in achieving the
goals set forth in the plans.
``(ii) Evaluating and reporting in writing to the
President of the Bank, at least once a year, with respect
to--
``(I) the performance of each operating division of
the Bank in serving small business concerns;
``(II) the impact of processing and underwriting
standards on transactions involving direct exports by
small business concerns; and
``(III) the adequacy of the staffing and resources
of the Small Business Division.
``(iii) Establishing criteria for evaluating the
performance of staff designated by the President of the
Bank under subsection (g)(1).
``(iv) Coordinating the provision of services with
other United States Government departments and agencies to
small business concerns.
``(3) Composition.--
``(A) Chairperson.--The Chairperson of the Small Business
Committee shall be the officer appointed to manage the Small
Business Division pursuant to subsection (f)(2). The
Chairperson shall have the authority to call meetings of the
Small Business Committee, set the agenda for Committee
meetings, and request policy recommendations from the
Committee's members.
``(B) Other members.--Except as otherwise provided in this
subsection, the President of the Bank shall determine the
composition of the Small Business Committee, and shall appoint
or remove the members of the Small Business Committee. In
making such appointments, the President of the Bank shall
ensure that the Small Business Committee is comprised of--
``(i) the senior managing officers responsible for
underwriting and processing transactions; and
``(ii) other officers and employees of the Bank with
responsibility for outreach to small business concerns and
underwriting and processing transactions that involve small
business concerns.
``(4) Reporting.--The Chairperson shall provide to the
President of the Bank minutes of each meeting of the Small Business
Committee, including any recommendations by the Committee or its
individual members.''.
(b) Enhance Delegated Loan Authority for Medium Term
Transactions.--
(1) In general.--The Export-Import Bank of the United States
shall seek to expand the exercise of authority under section
2(b)(1)(E)(vii) of the Export-Import Bank Act of 1945 (12 U.S.C.
635(b)(1)(E)(vii)) with respect to medium term transactions for
small business concerns.
(2) Conforming amendment.--Section 2(b)(1)(E)(vii)(III) of the
Export-Import Bank Act of 1945 (12 U.S.C. 635(b)(1)(E)(vii)(III))
is amended by inserting ``or other financing institutions or
entities'' after ``consortia''.
(3) Deadline.--Not later than 180 days after the date of the
enactment of this Act, the Export-Import Bank of the United States
shall make available lines of credit and guarantees to carry out
section 2(b)(1)(E)(vii) of the Export-Import Bank Act of 1945
pursuant to policies and procedures established by the Board of
Directors of the Export-Import Bank of the United States.
SEC. 7. ANTI-CIRCUMVENTION.
Section 2(e) of the Export-Import Bank Act of 1945 (12 U.S.C.
635(e)), as amended by section 5 of this Act, is amended--
(1) by inserting after paragraph (1), the following flush
paragraph:
``In making the determination under subparagraph (B), the Bank
shall determine whether the facility that would benefit from the
extension of a credit or guarantee is reasonably likely to produce
a commodity in addition to, or other than, the commodity specified
in the application and whether the production of the additional
commodity may cause substantial injury to United States producers
of the same, or a similar or competing, commodity.'';
(2) in paragraph (2), by adding at the end the following:
``(E) Anti-circumvention.--The Bank shall not provide a
loan or guarantee if the Bank determines that providing the
loan or guarantee will facilitate circumvention of an order or
determination referred to in subparagraph (A).''; and
(3) by adding at the end the following:
``(6) Financial threshold determinations.--For purposes of
determining whether a proposed transaction exceeds a financial
threshold under this subsection or under the procedures or rules of
the Bank, the Bank shall aggregate the dollar amount of the
proposed transaction and the dollar amounts of all loans and
guarantees, approved by the Bank in the preceding 24-month period,
that involved the same foreign entity and substantially the same
product to be produced.''.
SEC. 8. TRANSPARENCY.
(a) In General.--Section 2(e) of the Export-Import Bank Act of 1945
(12 U.S.C. 635(e)), as amended by sections 5 and 7 of this Act, is
amended by adding at the end the following:
``(7) Procedures to reduce adverse effects of loans and
guarantees on industries and employment in united states.--
``(A) Consideration of economic effects of proposed
transactions.--If, in making a determination under this
paragraph with respect to a loan or guarantee, the Bank
conducts a detailed economic impact analysis or similar study,
the analysis or study, as the case may be, shall include
consideration of--
``(i) the factors set forth in subparagraphs (A) and
(B) of paragraph (1); and
``(ii) the views of the public and interested parties.
``(B) Notice and comment requirements.--
``(i) In general.--If, in making a determination under
this subsection with respect to a loan or guarantee, the
Bank intends to conduct a detailed economic impact analysis
or similar study, the Bank shall publish in the Federal
Register a notice of the intent, and provide a period of
not less than 14 days (which, on request by any affected
party, shall be extended to a period of not more than 30
days) for the submission to the Bank of comments on the
economic effects of the provision of the loan or guarantee,
including comments on the factors set forth in
subparagraphs (A) and (B) of paragraph (1). In addition,
the Bank shall seek comments on the economic effects from
the Department of Commerce, the Office of Management and
Budget, the Committee on Banking, Housing, and Urban
Affairs of the Senate, and the Committee on Financial
Services of the House of Representatives.
``(ii) Content of notice.--The notice shall include
appropriate, nonproprietary information about--
``(I) the country to which the goods involved in
the transaction will be shipped;
``(II) the type of goods being exported;
``(III) the amount of the loan or guarantee
involved;
``(IV) the goods that would be produced as a result
of the provision of the loan or guarantee;
``(V) the amount of increased production that will
result from the transaction;
``(VI) the potential sales market for the resulting
goods; and
``(VII) the value of the transaction.
``(iii) Procedure regarding materially changed
applications.--
``(I) In general.--If a material change is made to
an application for a loan or guarantee from the Bank
after a notice with respect to the intent described in
clause (i) is published under this subparagraph, the
Bank shall publish in the Federal Register a revised
notice of the intent, and shall provide for a comment
period, as provided in clauses (i) and (ii).
``(II) Material change defined.--As used in
subclause (I), the term `material change', with respect
to an application, includes--
``(aa) a change of at least 25 percent in the
amount of a loan or guarantee requested in the
application; and
``(bb) a change in the principal product to be
produced as a result of any transaction that would
be facilitated by the provision of the loan or
guarantee.
``(C) Requirement to address views of adversely affected
persons.--Before taking final action on an application for a
loan or guarantee to which this section applies, the staff of
the Bank shall provide in writing to the Board of Directors the
views of any person who submitted comments pursuant to
subparagraph (B).
``(D) Publication of conclusions.--Within 30 days after a
party affected by a final decision of the Board of Directors
with respect to a loan or guarantee makes a written request
therefor, the Bank shall provide to the affected party a non-
confidential summary of the facts found and conclusions reached
in any detailed economic impact analysis or similar study
conducted pursuant to subparagraph (B) with respect to the loan
or guarantee, that were submitted to the Board of Directors.
``(E) Rule of interpretation.--This paragraph shall not be
construed to make subchapter II of chapter 5 of title 5, United
States Code, applicable to the Bank.
``(F) Regulations.--The Bank shall implement such
regulations and procedures as may be appropriate to carry out
this paragraph.''.
(b) Conforming Amendment.--Section 2(e)(2)(C) of such Act (12
U.S.C. 635(e)(2)(C)) is amended by inserting ``of not less than 14 days
(which, on request of any affected party, shall be extended to a period
of not more than 30 days)'' after ``comment period''.
SEC. 9. AGGREGATE LOAN, GUARANTEE, AND INSURANCE AUTHORITY.
Subparagraph (E) of section 6(a)(2) of the Export-Import Bank Act
of 1945 (12 U.S.C. 635e(a)(2)) is amended to read as follows:
``(E) during fiscal year 2006, and each fiscal year
thereafter through fiscal year 2011,''.
SEC. 10. TIED AID CREDIT PROGRAM.
(a) In General.--Section 10(b)(5)(B)(ii) of the Export-Import Bank
Act of 1945 (12 U.S.C. 635i-3(b)(5)(B)(ii)) is amended to read as
follows:
``(ii) Process.--In handling individual applications
involving the use or potential use of the Tied Aid Credit
Fund the following process shall exclusively apply pursuant
to subparagraph (A):
``(I) The Bank shall process an application for
tied aid in accordance with the principles and
standards developed pursuant to subparagraph (A) and
clause (i) of this subparagraph.
``(II) Twenty days prior to the scheduled meeting
of the Board of Directors at which an application will
be considered (unless the Bank determines that an
earlier discussion is appropriate based on the facts of
a particular financing), the Bank shall brief the
Secretary on the application and deliver to the
Secretary such documents, information, or data as may
reasonably be necessary to permit the Secretary to
review the application to determine if the application
complies with the principles and standards developed
pursuant to subparagraph (A) and clause (i) of this
subparagraph.
``(III) The Secretary may request a single
postponement of the consideration by the Board of
Directors of the application for up to 14 days to allow
the Secretary to submit to the Board of Directors a
memorandum objecting to the application.
``(IV) Case-by-case decisions on whether to approve
the use of the Tied Aid Credit Fund shall be made by
the Board of Directors, except that the approval of the
Board of Directors (or a commitment letter based on
that approval) shall not become final (except as
provided in subclause (V)), if the Secretary indicates
to the President of the Bank in writing the Secretary's
intention to appeal the decision of the Board of
Directors to the President of the United States and
makes the appeal in writing not later than 20 days
after the meeting at which the Board of Directors
considered the application.
``(V) The Bank shall not grant final approval of an
application for any tied aid credit (or a commitment
letter based on that approval) if the President of the
United States, after consulting with the President of
the Bank and the Secretary, determines within 30 days
of an appeal by the Secretary under subclause (IV) that
the extension of the tied aid credit would materially
impede achieving the purposes described in subsection
(a)(6). If no such Presidential determination is made
during the 30-day period, the approval by the Bank of
the application (or related commitment letter) that was
the subject of such appeal shall become final.''.
(b) Clarification of Use of Tied Aid Credit Fund To Match.--Section
10 of the Export-Import Bank Act of 1945 (12 U.S.C. 635i-3) is
amended--
(1) in subsection (a), in paragraph (6)--
(A) in the matter preceding subparagraph (A), by inserting
``, including those that are not a party to the Arrangement,''
after ``countries'';
(B) in subparagraph (B), by adding ``and'' at the end; and
(C) by inserting after subparagraph (B) the following:
``(C) promoting compliance with Arrangement rules among
foreign export credit agencies that are not a party to the
Arrangement;''; and
(2) in subsection (b), in paragraph (5)(B)--
(A) in clause (i)--
(i) in subclause (I), by striking ``and'' and by
inserting ``, and to seek compliance by those countries
that are not a party to the Arrangement'' before the
period; and
(ii) in subclause (III), by adding at the end the
following: ``In cases where information about a specific
offer of foreign tied aid (or untied aid used to promote
exports as if it were tied aid) is not available in a
timely manner, or is unavailable because the foreign export
credit agency involved is not subject to the reporting
requirements under the Arrangement, then the Bank may
decide to use the Tied Aid Credit Fund based on credible
evidence of a history of such offers under similar
circumstances or other forms of credible evidence.''.
SEC. 11. PROHIBITION ON ASSISTANCE TO DEVELOP OR PROMOTE CERTAIN
RAILWAY CONNECTIONS AND RAILWAY-RELATED CONNECTIONS.
Section 2(b) of the Export-Import Act of 1945 (12 U.S.C. 635(b)) is
amended by adding at the end the following new paragraph:
``(13) Prohibition on assistance to develop or promote certain
railway connections and railway-related connections.--The Bank shall
not guarantee, insure, or extend (or participate in the extension of)
credit in connection with the export of any good or service relating to
the development or promotion of any railway connection or railway-
related connection that does not traverse or connect with Armenia and
does traverse or connect Baku, Azerbaijan, Tbilisi, Georgia, and Kars,
Turkey.''.
SEC. 12. PROCESS FOR NOTIFYING APPLICANTS OF APPLICATION STATUS;
IMPLEMENTATION OF EX-IM ONLINE.
Section 2 of the Export-Import Bank Act of 1945 (12 U.S.C. 635) is
amended by adding at the end the following:
``(g) Process for Notifying Applicants of Application Status.--The
Bank shall establish and adhere to a clearly defined process for--
``(1) acknowledging receipt of applications;
``(2) informing applicants that their applications are complete
or, if incomplete or containing a minor defect, of the additional
material or changes that, if supplied or made, would make the
application eligible for consideration; and
``(3) keeping applicants informed of the status of their
applications, including a clear and timely notification of approval
or disapproval, and, in the case of disapproval, the reason for
disapproval, as appropriate.
``(h) Response to Application for Financing; Implementation of
Online Loan Request and Tracking Process.--
``(1) Response to applications.--Within 5 days after the Bank
receives an application for financing, the Bank shall notify the
applicant that the application has been received, and shall include
in the notice--
``(A) a request for such additional information as may be
necessary to make the application complete;
``(B) the name of a Bank employee who may be contacted with
questions relating to the application; and
``(C) a unique identification number which may be used to
review the status of the application at a website established
by the Bank.
``(2) Website.--Not later than September 1, 2007, the Bank
shall exercise the authority granted by subparagraphs (E)(x) and
(J) of subsection (b)(1) to establish, and thereafter to maintain,
a website through which--
``(A) Bank products may be applied for; and
``(B) information may be obtained with respect to--
``(i) the status of any such application;
``(ii) the Small Business Division of the Bank; and
``(iii) incentives, preferences, targets, and goals
relating to small business concerns (as defined in section
3(a) of the Small Business Act), including small business
concerns exporting to Africa.''.
SEC. 13. COMPETITIVENESS INITIATIVES.
(a) Expansion of Scope of Annual Competitiveness Report.--The
Export-Import Bank Act of 1945 (12 U.S.C. 635 et seq.) is amended by
inserting after section 8 the following:
``SEC. 8A. ANNUAL COMPETITIVENESS REPORT.
``(a) In General.--Not later than June 30 of each year, the Bank
shall submit to the appropriate congressional committees a report that
includes the following:
``(1) Actions of bank in providing financing on a competitive
basis, and to minimize competition in government-supported export
financing.--A description of the actions of the Bank in complying
with the second and third sentences of section 2(b)(1)(A). In this
part of the report, the Bank shall include a survey of all other
major export-financing facilities available from other governments
and government-related agencies through which foreign exporters
compete with United States exporters (including through use of
market windows (as defined pursuant to section 10(h)(7))) and, to
the extent such information is available to the Bank, indicate in
specific terms the ways in which the Bank's rates, terms, and other
conditions compare with those offered from such other governments
directly or indirectly. With respect to the preceding sentence, the
Bank shall use all available information to estimate the annual
amount of export financing available from each such government and
government-related agency. In this part of the report, the Bank
shall include a survey of a representative number of United States
exporters and United States commercial lending institutions which
provide export credit on the experience of the exporters and
institutions in meeting financial competition from other countries
whose exporters compete with United States exporters.
``(2) Role of bank in implementing strategic plan prepared by
the trade promotion coordinating committee.--A description of the
role of the Bank in implementing the strategic plan prepared by the
Trade Promotion Coordinating Committee in accordance with section
2312 of the Export Enhancement Act of 1988.
``(3) Tied aid credit program and fund.--The report required by
section 10(g).
``(4) Purpose of all bank transactions.--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.
``(5) Efforts of bank to promote export of goods and services
related to renewable energy sources.--A description of the
activities of the Bank with respect to financing renewable energy
projects undertaken under section 2(b)(1)(K), and an analysis
comparing the level of credit extended by the Bank for renewable
energy projects with the level of credit so extended for the
preceding fiscal year.
``(6) Size of bank program account.--A separate section which--
``(A) compares, to the extent practicable, the size of the
Bank program account with the size of the program accounts of
the other major export-financing facilities referred to in
paragraph (1); and
``(B) makes recommendations, if appropriate, with respect
to the relative size of the Bank program account, based on
factors including whether the size differences are in the best
interests of the United States taxpayer.
``(7) Co-financing programs of the bank and of other export
credit agencies.--A description of the co-financing programs of the
Bank and of the other major export-financing facilities referred to
in paragraph (1), which includes a list of countries with which the
United States has in effect a memorandum of understanding relating
to export credit agency co-financing and, if such a memorandum is
not in effect with any country with a major export credit-financing
facility, an explanation of why such a memorandum is not in effect.
``(8) Services supported by the bank and by other export credit
agencies.--A separate section which describes the participation of
the Bank in providing funding, guarantees, or insurance for
services, which shall include appropriate information on the
involvement of the other major export-financing facilities referred
to in paragraph (1) in providing such support for services, and an
explanation of any differences among the facilities in providing
the support.
``(9) Export finance cases not in compliance with the
arrangement.--Detailed information on cases reported to the Bank of
export financing that appear not to comply with the Arrangement (as
defined in section 10(h)(3)) or that appear to exploit loopholes in
the Arrangement for the purpose of obtaining a commercial
competitive advantage. The President of the Bank, in consultation
with the Secretary of the Treasury, may provide to the appropriate
congressional committees the information required by this
subsection in a separate and confidential report, instead of
providing such information in the report required by this
subsection.
``(10) Foreign export credit agency activities not consistent
with the wto agreement on subsidies and countervailing measures.--A
description of the extent to which the activities of foreign export
credit agencies and other entities sponsored by a foreign
government, particularly those that are not members of the
Arrangement (as defined in section 10(h)(3)), appear not to comply
with the Arrangement and appear to be inconsistent with the terms
of the Agreement on Subsidies and Countervailing Measures referred
to in section 101(d)(12) of the Uruguay Round Agreements Act (19
U.S.C. 3511(d)(12)), and a description of the actions taken by the
United States Government to address the activities. The President
of the Bank, in consultation with the Secretary of the Treasury,
may provide to the appropriate congressional committees, the
information required by this subsection in a separate and
confidential report, instead of providing such information in the
report required by this subsection.
``(b) Inclusion of Additional Comments.--The report required by
subsection (a) shall include such additional comments as any member of
the Board of Directors may submit to the Board for inclusion in the
report.
``(c) Appropriate Congressional Committees.--The term `appropriate
congressional committees' means the Committee on Financial Services of
the House of Representatives and the Committee on Banking, Housing, and
Urban Affairs of the Senate.''.
(b) Conforming Amendment.--Section 2(b)(1)(A) of such Act (12
U.S.C. 635(b)(1)(A)) is amended by striking all that follows the third
sentence.
(c) Expansion of Countries in Competition With Which the Bank Is To
Provide Export Financing.--Section 2(b)(1)(A) of such Act (12 U.S.C.
635(b)(1)(A)) is amended in the second sentence by inserting ``,
including countries the governments of which are not members of the
Arrangement (as defined in section 10(h)(3))'' before the period.
(d) Sense of Congress Regarding Negotiation of the OECD
Arrangement.--It is the sense of Congress that in the negotiation of
the Arrangement (as defined in section 10(h)(3) of the Export-Import
Bank Act of 1945) the goals of the United States include the following:
(1) Seeking compliance with the Arrangement among countries
with significant export credit programs who are not members of the
Arrangement.
(2) Seeking to identify within the World Trade Organization the
extent to which countries that are not a party to the Arrangement
are not in compliance with the terms of the Agreement on Subsidies
and Countervailing Measures referred to in section 101(d)(12) of
the Uruguay Round Agreements Act (19 U.S.C. 3511(d)(12)) with
respect to export finance, and seeking appropriate action within
the World Trade Organization for each country that is not in such
compliance.
(3) Implementing new disciplines on the use of untied aid,
market windows, and other forms of export finance that seek to
exploit loopholes in the Arrangement for purposes of obtaining a
commercial competitive advantage.
SEC. 14. OFFICE OF FINANCING FOR SOCIALLY AND ECONOMICALLY
DISADVANTAGED SMALL BUSINESS CONCERNS AND SMALL BUSINESS
CONCERNS OWNED BY WOMEN.
(a) In General.--Section 3 of the Export-Import Bank Act of 1945
(12 U.S.C. 635a), as added by section 6, is amended by adding at the
end the following:
``(i) Office of Financing for Socially and Economically
Disadvantaged Small Business Concerns and Small Business Concerns Owned
by Women.--
``(1) Establishment.--The President of the Bank shall establish
in the Small Business Division an office whose sole functions shall
be to continue and enhance the outreach activities of the Bank with
respect to, and increase the total amount of loans, guarantees, and
insurance provided by the Bank to support exports by, socially and
economically disadvantaged small business concerns (as defined in
section 8(a)(4) of the Small Business Act) and small business
concerns owned by women.
``(2) Management.--The office shall be managed by a Bank
officer of appropriate rank who shall report to the Bank officer
designated under subsection (f)(2).
``(3) Staffing.--To the maximum extent practicable, the
President of the Bank shall ensure that qualified minority and
women applicants are considered when filling any position in the
office.''.
(b) Financing Directed Toward Small Businesses Owned by Minorities
or Women.--Section 2(b)(1)(E)(v) of such Act (12 U.S.C.
635(b)(1)(E)(v)) is amended by adding at the end the following: ``From
the amount made available under the preceding sentence, it shall be a
goal of the Bank to increase the amount made available to finance
exports directly by small business concerns referred to in section
3(i)(1).''.
SEC. 15. GOVERNANCE.
Section 3(c) of the Export-Import Bank Act of 1945 (12 U.S.C.
635a(c)) is amended by adding at the end the following:
``(9) At the request of any 2 members of the Board of Directors,
the Chairman of the Board shall place an item pertaining to the
policies or procedures of the Bank on the agenda for discussion by the
Board. Within 30 days after the date such a request is made, the
Chairman shall hold a meeting of the Board at which the item shall be
discussed.''.
SEC. 16. SENSE OF CONGRESS REGARDING MULTI-BUYER INSURANCE AND WORKING
CAPITAL GUARANTEE PROGRAMS.
It is the sense of Congress that the Export-Import Bank of the
United States should seek to expand the number and size of the regional
multi-buyer insurance programs and working capital guarantee programs
operated by, through, or in conjunction with the Bank.
SEC. 17. SENSE OF CONGRESS REGARDING AN OFFICE OF RENEWABLE ENERGY
PROMOTION.
It is the sense of Congress that--
(1) the Export-Import Bank of the United States should
establish, within 2 years of the date of the enactment of this Act,
an Office of Renewable Energy Promotion staffed by individuals with
appropriate expertise in renewable energy technologies to
proactively identify new opportunities for renewable energy
financing and to carry out section 2(b)(1)(K) of the Export-Import
Bank Act of 1945 (12 U.S.C. 635(b)(1)(K));
(2) in carrying out the purposes of such an Office of Renewable
Energy Promotion, the head of such Office should consider the
recommendations of the Renewable Energy Exports Advisory Committee
of the Bank to promote renewable energy technologies; and
(3) the Bank should include in its annual report a description
of the activities carried out by such an Office of Renewable Energy
Promotion, including for each year a description of the amount of
credit extended by the Bank for renewable energy technologies
during that year and a comparison between that amount and the
amount of such credit extended by the Bank in previous years.
SEC. 18. ENVIRONMENTAL MATTERS.
(a) Environmental Representatives on the Advisory Committee.--
Section 3(d) of the Export-Import Bank Act of 1945 (12 U.S.C. 635a(d))
is amended--
(1) in paragraph (1)--
(A) in subparagraph (A), by striking ``15'' and inserting
``17''; and
(B) in subparagraph (B), by inserting ``environment,''
before ``production,''; and
(2) in paragraph (2), by adding at the end the following:
``(C) Not less than 2 members appointed to the Advisory
Committee shall be representative of the environmental
nongovernmental organization community, except that no 2 of the
members shall be from the same environmental organization.''.
(b) Public Disclosure of Certain Documents.--Section 11(a)(1) of
the Export-Import Bank of 1945 (12 U.S.C. 635i-5(a)(1)) is amended by
inserting after the first sentence the following: ``Such procedures
shall provide for the public disclosure of environmental assessments
and supplemental environmental reports required to be submitted to the
Bank, including remediation or mitigation plans and procedures, and
related monitoring reports. The preceding sentence shall not be
interpreted to require the public disclosure of any information
described in section 1905 of title 18, United States Code.''.
SEC. 19. GOVERNMENT ACCOUNTABILITY OFFICE STUDY OF BANK PERFORMANCE
STANDARDS FOR ASSISTANCE TO SMALL BUSINESSES, ESPECIALLY
THOSE OWNED BY SOCIALLY AND ECONOMICALLY DISADVANTAGED
INDIVIDUALS AND THOSE OWNED BY WOMEN.
(a) Performance Standards.--The Bank shall develop a set of
performance standards for determining the extent to which the Bank has
carried out successfully subparagraphs (E) and (I) of section 2(b)(1)
of the Export-Import Bank Act of 1945, and the functions described in
subsections (f)(1), (g)(1), (h)(1), and (i)(1) of section 3 of such
Act.
(b) Assessment of Standards.--Within 18 months after the date of
the enactment of this Act, the Comptroller General of the United States
shall transmit to the Committee on Financial Services of the House of
Representatives and the Committee on Banking, Housing, and Urban
Affairs of the Senate--
(1) an assessment of the performance standards developed by the
Bank pursuant to subsection (a); and
(2) using the performance standards developed pursuant to
subsection (a), an assessment of the Bank's efforts to carry out
subparagraphs (E) and (I) of section 2(b)(1) of the Export-Import
Bank Act of 1945, and the functions described in subsections
(f)(1), (g)(1), (h)(1), and (i)(1) of section 3 of such Act.
SEC. 20. REPORTS.
Section 8 of the Export-Import Bank Act of 1945 (12 U.S.C. 635g) is
amended by adding at the end the following:
``(f) Additional Reports.--Not later than March 31 of each year,
the Bank 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 reports on--
``(1) the extent to which the Bank has been able to use the
authority provided, and has complied with the mandates contained,
in section 2(b)(1)(E), and to the extent the Bank has been unable
to fully use such authority and comply with such mandates, a report
on the reasons for the Bank's inability to do so and the steps the
Bank is taking to remedy such inability;
``(2) the extent to which financing has been made available to
small business concerns (described in subsection (e)) to enable
them to participate in exports by major contractors, including
through access to the supply chains of the contractors through
direct or indirect funding;
``(3) the specific measures the Bank will take in the upcoming
year to achieve the small business objectives of the Bank,
including expanded outreach, product improvements, and related
actions;
``(4) the progress made by the Bank in supporting exports by
socially and economically disadvantaged small business concerns
(defined in section 8(a)(4) of the Small Business Act) and small
business concerns (as defined in section 3(a) of the Small Business
Act) owned by women, including estimates of the amounts made
available to finance exports directly by such small business
concerns, a comparison of these amounts with the amounts made
available to all small business concerns, and a comparison of such
amounts with the amounts so made available during the 2 preceding
years;
``(5) with respect to each type of transaction, the interest
and fees charged by the Bank to exporters (including a description
of fees and interest, if any, charged to small business concerns),
buyers, and other applicants in connection with each financing
program of the Bank, and the highest, lowest, and average fees
charged by the Bank for short term insurance transactions;
``(6) the effects of the fees on the ability of the Bank to
achieve the objectives of the Bank relating to small business;
``(7) the fee structure of the Bank as compared with those of
foreign export credit agencies; and
``(8)(A) the efforts made by the Bank to carry out
subparagraphs (E)(x) and (J) of section 2(b)(1) of the Export-
Import Bank Act of 1945, including the total amount expended by the
Bank to do so; and
``(B) if the Bank has been unable to comply with such
subparagraphs--
``(i) an analysis of the reasons therefor; and
``(ii) what the Bank is doing to achieve, and the date by
which the Bank expects to have achieved, such compliance.''.
SEC. 21. STUDY OF HOW EXPORT-IMPORT BANK COULD ASSIST UNITED STATES
EXPORTERS TO MEET IMPORT NEEDS OF NEW OR IMPOVERISHED
DEMOCRACIES; REPORT.
(a) Study.--The Export-Import Bank of the United States shall
conduct a study designed to assess the needs of new or impoverished
democracies, such as Liberia and Haiti, for imports from the United
States, and shall determine what role the Bank can play a role in
helping United States exporters seize the opportunities presented by
the need for such imports.
(b) Report to Congress.--Within 12 months after the date of the
enactment of this Act, the Bank 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, in writing, a final
report that contains the results of the study required by subsection
(a).
Speaker of the House of Representatives.
Vice President of the United States and
President of the Senate.