1.This Act may be cited as the
Export-Import Bank Termination Act of
2012
.
2.Reductions of
authorities before abolishmentNotwithstanding any other provision of
law:
(1)Termination of
authority to accept applications for assistanceThe Export-Import Bank of the United States
(in this Act referred to as the Bank
) may not accept an
application for a loan, insurance, or a guarantee, or to participate in an
extension of credit by another entity, after the 30-day period that begins with
the date of the enactment of this Act.
(2)Termination of
authority to renew or enter into a contract for the provision of assistance by
the BankThe Bank may not
renew or enter into a contract which would obligate the Bank to provide a loan,
insurance, or a guarantee, or participate in an extension of credit by another
entity, after the 12-month period that begins with such date of
enactment.
3.Abolishment of
Export-Import Bank of the United States
(a)Effective on the abolishment date:
(1)The
Bank is abolished.
(2)All functions that, immediately before the abolishment
date are authorized to be performed by the Bank, the Board of Directors of the
Bank, any officer or employee of the Bank acting in that capacity, or any
agency or office of the Bank, are transferred to the Secretary of the Treasury
(in this Act referred to as the Secretary
).
(b)In this Act, the term abolishment date means
the date that is 3 years after the date of the enactment of this Act.
4.Resolution and
termination of Bank functions
(a)The Secretary shall—
(1)complete the
disposition and resolution of functions of the Bank in accordance with this
Act; and
(2)resolve all
functions that are transferred to the Secretary under section 3(a)(2).
(b)All functions that
are transferred to the Secretary under section 3(a)(2) shall terminate on the
date all obligations of the Bank, and all obligations of others to the Bank, in
effect immediately before the abolishment date have been satisfied, as
determined by the Secretary.
(c)When the Secretary
makes the determination described in subsection (b), the Secretary shall report
the determination to the Committee on Financial Services of the House of
Representatives and the Committee on Finance of the Senate.
5.Duties of the
Secretary of the Treasury
(a)The Secretary shall be responsible for the implementation
of this Act, including—
(1)the administration
and wind-up of all functions transferred to the Secretary under section
3(a)(2);
(2)the administration
and wind-up of any outstanding obligations of the Federal Government under any
programs terminated by this Act; and
(3)taking such other
actions as may be necessary to wind-up any outstanding affairs of the
Bank.
(b)The Secretary may delegate to any other Federal
department or agency head the performance of the functions of the Secretary
under this Act, to the extent that the Secretary determines that the delegation
would further the purposes of this Act.
(c)Transfer of
assets and personnelIn connection with any delegation of
functions under subsection (b), the Secretary may transfer to the department or
agency concerned such assets, funds, personnel, records, and other property
relating to the delegated function as the Secretary determines to be
appropriate.
(d)Authorities of
the SecretaryFor purposes of performing the functions of the
Secretary under this Act and subject to the availability of appropriations, the
Secretary may—
(1)enter into
contracts;
(2)employ experts and
consultants in accordance with section 3109 of title 5, United States Code, at
rates for individuals not to exceed the per diem rate equivalent to the rate
for level IV of the Executive Schedule; and
(3)utilize, on a
reimbursable basis, the services, facilities, and personnel of other Federal
agencies.
6.Effective on the abolishment date, there are
transferred to the Department of the Treasury all individuals, other than
members of the Board of Directors of the Bank, who—
(1)immediately before
the abolishment date, were officers or employees of the Bank; and
(2)in their capacity
as such an officer or employee, performed functions that are transferred to the
Secretary under section 3(a)(2).
7.Transfer of Inspector
General duties
(a)Termination of
the Office of Inspector General for the Export-Import Bank of the United
StatesNotwithstanding any
other provision of law, the Office of Inspector General for the Bank shall
terminate on the abolishment date, and the assets and obligations of the Office
shall be transferred to the Office of the Inspector General for the Department
of the Treasury or otherwise disposed of.
(b)Authority and
responsibility for transfer or disposalThe Secretary shall have
the authority and responsibility for transfer or disposal under subsection
(a).
(c)The provisions of
this section shall not affect the performance of any pending audit,
investigation, inspection, or report by the Office of the Inspector General for
the Bank as of the abolishment date, with respect to functions transferred by
this section. Nothing in this subsection shall be deemed to prohibit the
discontinuance or modification of any performance under the same terms and
conditions and to the same extent that such performance could have been
discontinued or modified if this section had not been enacted.
8.Except as
otherwise provided by law, a Federal official to whom a function is transferred
by this Act may, for purposes of performing the function, exercise all
authorities under any other provision of law that were available with respect
to the performance of that function to the official responsible for the
performance of the function immediately before the effective date of the
transfer of the function under this Act.
9.Except as otherwise
provided in this Act, so much of the personnel, property, records, and
unexpended balances of appropriations, allocations, and other funds employed,
used, held, available, or to be made available in connection with a function
transferred to an official or agency by this Act shall be available to the
official or the head of that agency, respectively, at such time or times as the
Director of the Office of Management and Budget directs for use in connection
with the functions transferred.
10.Delegation and
assignmentExcept as otherwise
expressly prohibited by law, an official to whom functions are transferred
under this Act (including the head of any office to which functions are
transferred under this Act) may delegate any of the functions so transferred to
such officers and employees of the office of the official as the official may
designate, and may authorize successive redelegations of such functions as may
be necessary or appropriate. No delegation of functions under this section or
under any other provision of this Act shall relieve the official to whom a
function is transferred under this Act of responsibility for the administration
of the function.
11.Authority of the
Secretary of the Treasury with respect to functions transferred
(a)If
necessary, the Secretary shall make any determination of the functions that are
transferred under this Act.
(b)The Secretary, at such time or times as the Secretary
shall provide, may make such determinations as may be necessary with regard to
the functions transferred by this Act, and to make such additional incidental
dispositions of personnel, assets, liabilities, grants, contracts, property,
records, and unexpended balances of appropriations, authorizations,
allocations, and other funds held, used, arising from, available to, or to be
made available in connection with such functions, as may be necessary to carry
out the provisions of this Act.
12.
(a)All orders, determinations, rules, regulations,
permits, grants, loans, contracts, agreements, certificates, licenses, and
privileges—
(1)that have been
issued, made, granted, or allowed to become effective by the President, the
Bank, any officer or employee of any office transferred by this Act, or any
other Government official, or by a court of competent jurisdiction, in the
performance of any function that is transferred by this Act, and
(2)that are in effect
on the effective date of the transfer (or become effective after such date
pursuant to their terms as in effect on such effective date),
shall
continue in effect according to their terms until modified, terminated,
superseded, set aside, or revoked in accordance with law by the President, any
other authorized official, a court of competent jurisdiction, or operation of
law.(b)This
Act shall not affect any proceedings or any application for any benefits,
service, license, permit, certificate, or financial assistance pending on the
date of the enactment of this Act before an office transferred by this Act, but
such proceedings and applications shall be continued. Orders shall be issued in
such proceedings, appeals shall be taken therefrom, and payments shall be made
pursuant to such orders, as if this Act had not been enacted, and orders issued
in any such proceeding shall continue in effect until modified, terminated,
superseded, or revoked by a duly authorized official, by a court of competent
jurisdiction, or by operation of law. Nothing in this subsection shall be
considered to prohibit the discontinuance or modification of any such
proceeding under the same terms and conditions and to the same extent that such
proceeding could have been discontinued or modified if this Act had not been
enacted.
(c)This
Act shall not affect suits commenced before the date of the enactment of this
Act, and in all such suits, proceeding shall be had, appeals taken, and
judgments rendered in the same manner and with the same effect as if this Act
had not been enacted.
(d)No suit, action, or
other proceeding commenced by or against an office transferred by this Act, or
by or against any individual in the official capacity of such individual as an
officer or employee of such an office, shall abate by reason of the enactment
of this Act.
(e)If any Government officer in the official capacity of such
officer is party to a suit with respect to a function of the officer, and under
this Act such function is transferred to any other officer or office, then such
suit shall be continued with the other officer or the head of such other
office, as applicable, substituted or added as a party.
(f)Administrative
procedure and judicial reviewExcept as otherwise provided by
this Act, any statutory requirements relating to notice, hearings, action upon
the record, or administrative or judicial review that apply to any function
transferred by this Act shall apply to the exercise of such function by the
head of the Federal agency, and other officers of the agency, to which such
function is transferred by this Act.
13.Availability of
existing fundsExisting
appropriations and funds available for the performance of functions, programs,
and activities terminated pursuant to this Act shall remain available, for the
duration of their period of availability, for necessary expenses in connection
with the termination and resolution of such functions, programs, and
activities.
14.Conforming amendments
and repeals
(a)Repeal of
primary authorizing statuteThe Export-Import Bank Act of 1945 (12
U.S.C. 635—635i–9) is hereby repealed.
(b)Elimination of
related authorizing provisions
(1)Section 103 of the
International Development and Finance Act of 1989 (12 U.S.C. 635 note; Public
Law 101–240) is hereby repealed.
(2)Section 303 of the
Support for East European Democracy (SEED) Act of 1989 (12 U.S.C. 635 note;
Public Law 101–179) is hereby repealed.
(3)Section 1908 of the Export-Import Bank Act
Amendments of 1978 (12 U.S.C. 635a–1) is amended—
(A)by striking
(a)
; and
(B)by striking
subsection (b).
(4)Sections 1911 and 1912 of the Export-Import
Bank Act Amendments of 1978 (12 U.S.C. 635a–2 and 635a–3) are hereby
repealed.
(5)Section 206 of the
Bank Export Services Act (12 U.S.C. 635a–4) is hereby repealed.
(6)Sections 1 through
5 of Public Law 90–390 (12 U.S.C. 635j through 635n) are hereby
repealed.
(7)Sections 641
through 647 of the Trade and Development Enhancement Act of 1983 (12 U.S.C.
635o–635t) are hereby repealed.
(8)Section 534 of the
Foreign Operations, Export Financing, and Related Programs Appropriations Act,
1990 (12 U.S.C. 635g note; Public Law 101–167) is amended by striking
subsection (d).
(9)Section 3302 of
the Omnibus Trade and Competitiveness Act of 1988 (12 U.S.C. 635i–3 note;
Public Law 100–418) is amended by striking subsection (a).
(10)Section 1105(a)
of title 31, United States Code, is amended by striking paragraph (34) and
redesignating the succeeding paragraphs of such section as paragraphs (34)
through (38), respectively.
(11)Section 9101(3)
of title 31, United States Code, is amended by striking subparagraph
(C).
(c)Elimination of
related compensation provisions
(1)Section 5314 of
title 5, United States Code, is amended by striking the following item:
President of the Export-Import Bank of
Washington.
.
(2)Section 5315 of title 5, United States Code, is
amended—
(A)by striking the
following item:
First Vice President of the Export-Import Bank of
Washington.
;
and
(B)by striking the
following item:
Members, Board of Directors of the Export-Import
Bank of
Washington.
.
(d)Elimination of
office of inspector general for the bankSection 12 of the Inspector General Act of
1978 (5 U.S.C. App.) is amended—
(1)in paragraph (1),
by striking the President of the Export-Import Bank;
; and
(2)in paragraph (2),
by striking the Export-Import Bank,
.
(e)The repeals and amendments made by this section shall take
effect on the abolishment date.
(f)Report to the
Congress on other amendments to Federal statuteThe 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 written report that contains suggestions for such other amendments to
Federal statutes as may be necessary or appropriate as a result of this
Act.
15.Any reference in any other Federal law,
Executive order, rule, regulation, or delegation of authority, or any document
of or pertaining to a department or office from which a function is transferred
by this Act—
(1)to the head of
such department or office is deemed to refer to the head of the department or
office to which the function is transferred; or
(2)to such department
or office is deemed to refer to the department or office to which the function
is transferred.
16.In this Act:
(1)The
term function includes any duty, obligation, power, authority,
responsibility, right, privilege, activity, or program.
(2)The
term office includes any office, administration, agency, bureau,
institute, council, unit, organizational entity, or component thereof.