[Congressional Bills 114th Congress]
[From the U.S. Government Publishing Office]
[S. 824 Introduced in Senate (IS)]

114th CONGRESS
  1st Session
                                 S. 824

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


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             March 19, 2015

    Mrs. Shaheen (for herself, Mrs. Feinstein, Mr. Franken, and Mr. 
  Blumenthal) introduced the following bill; which was read twice and 
    referred to the Committee on Banking, Housing, and Urban Affairs

_______________________________________________________________________

                                 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 ``Promoting U.S. 
Jobs Through Exports Act of 2015''.
    (b) Table of Contents.--The table of contents of this Act is as 
follows:

Sec. 1. Short title; table of contents.
           TITLE I--REAUTHORIZATION OF THE EXPORT-IMPORT BANK

Sec. 101. Limitations on outstanding loans, guarantees, and insurance.
Sec. 102. Extension of authority.
Sec. 103. Reauthorization of the Sub-Saharan Africa Advisory Committee.
Sec. 104. Reauthorization of dual-use exports.
       TITLE II--EXPANDING BANK SUPPORT FOR UNITED STATES EXPORTS

Sec. 201. Increase in small business lending requirements.
Sec. 202. Recommendations to increase small business outreach.
Sec. 203. Technical assistance for small businesses.
Sec. 204. Exposure limit estimates.
Sec. 205. Small business and medium-sized enterprises reports.
Sec. 206. Medium-sized enterprises.
Sec. 207. Participation and risk-sharing by private sector lenders.
Sec. 208. Risk-sharing arrangements.
Sec. 209. Promoting renewable energy exports.
                  TITLE III--ETHICS AND FRAUD CONTROLS

Sec. 301. Codifying the role of the Chief Risk Officer.
Sec. 302. Reports on ethics requirements of the Bank.
Sec. 303. Employee financial disclosures.
Sec. 304. Supplemental ethics regulations.
Sec. 305. Annual employee certifications.
            TITLE IV--ENHANCING EXTERNAL AUDITS AND REVIEWS

Sec. 401. Enhanced audit controls.
Sec. 402. Independent evaluation of Bank portfolio.
Sec. 403. External review of fraud controls.
      TITLE V--STRENGTHENING PROJECT MONITORING AND DUE DILIGENCE

Sec. 501. Enhanced monitoring and due diligence for structured and 
                            project finance transactions.
Sec. 502. Monitoring plans and post-approval assessments for structured 
                            and project finance transactions.
Sec. 503. Reserving the right of inspection.
                TITLE VI--MODERNIZATION OF BANK SYSTEMS

Sec. 601. Electronic payments and documents.
Sec. 602. Reauthorization of information technology updating.
Sec. 603. Information technology modernization.
Sec. 604. Modernizing the disclosure of environmental reports.
   TITLE VII--LEVELING THE PLAYING FIELD FOR UNITED STATES EXPORTERS

Sec. 701. Leveling the playing field for United States exporters.
Sec. 702. Prohibiting illegal support of foreign exports.

           TITLE I--REAUTHORIZATION OF THE EXPORT-IMPORT BANK

SEC. 101. LIMITATIONS ON OUTSTANDING LOANS, GUARANTEES, AND INSURANCE.

    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:
            ``(2) Applicable amount.--In paragraph (1), the term 
        `applicable amount' means, for fiscal year 2015 and each fiscal 
        year thereafter, $140,000,000,000, except that--
                    ``(A) the applicable amount for fiscal years 2016 
                and 2017 shall be $145,000,000,000 if the rate 
                calculated under section 8(g)(1) of this Act is less 
                than 2 percent for the quarter ending with the 
                beginning of the fiscal year, or for any quarter in the 
                fiscal year;
                    ``(B) notwithstanding subparagraph (A), the 
                applicable amount for fiscal years 2018 and 2019 shall 
                be $150,000,000,000 if the rate calculated under 
                section 8(g)(1) of this Act is less than 2 percent for 
                the quarter ending with the beginning of the fiscal 
                year, or for any quarter in the fiscal year;
                    ``(C) notwithstanding subparagraphs (A) and (B), 
                the applicable amount for fiscal years 2020 and 2021 
                shall be $155,000,000,000 if the rate calculated under 
                section 8(g)(1) of this Act is less than 2 percent for 
                the quarter ending with the beginning of the fiscal 
                year, or for any quarter in the fiscal year; and
                    ``(D) notwithstanding subparagraphs (A), (B), and 
                (C), the applicable amount for fiscal year 2022 and 
                each fiscal year thereafter shall be $160,000,000,000 
                if the rate calculated under section 8(g)(1) of this 
                Act is less than 2 percent for the quarter ending with 
                the beginning of the fiscal year, or for any quarter in 
                the fiscal year.''.

SEC. 102. EXTENSION OF AUTHORITY.

    Section 7 of the Export-Import Bank Act of (12 U.S.C. 635f) is 
amended by striking ``2014'' and inserting ``2022''.

SEC. 103. REAUTHORIZATION OF THE SUB-SAHARAN AFRICA ADVISORY COMMITTEE.

    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 ``September 30, 2014'' 
and inserting ``the date specified in section 7''.

SEC. 104. REAUTHORIZATION OF DUAL-USE EXPORTS.

    Section 1 of Public Law 103-428 (12 U.S.C. 635 note) is amended by 
striking subsection (c).

       TITLE II--EXPANDING BANK SUPPORT FOR UNITED STATES EXPORTS

SEC. 201. INCREASE IN SMALL BUSINESS LENDING REQUIREMENTS.

    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 by striking ``20 percent'' and 
inserting ``25 percent''.

SEC. 202. RECOMMENDATIONS TO INCREASE SMALL BUSINESS OUTREACH.

    Section 3(d) of the Export-Import Bank Act of 1945 (12 U.S.C. 
635a(d)) is amended by adding at the end the following:
            ``(6)(A) The Advisory Committee shall make recommendations 
        to the Bank on ways to encourage increased participation by 
        private financial institutions in providing outreach about the 
        Bank to small business concerns (as defined under section 3(a) 
        of the Small Business Act (15 U.S.C. 632(a)).
            ``(B) The Bank shall--
                    ``(i) review all recommendations made by the 
                Advisory Committee under this paragraph and implement a 
                program to expand outreach about the Bank to small 
                business concerns through increased participation by 
                private financial institutions; and
                    ``(ii) encourage commercial banks, community banks, 
                and insurance brokers to expand their outreach about 
                the Bank to small business concerns.''.

SEC. 203. TECHNICAL ASSISTANCE FOR SMALL BUSINESSES.

    Section 2(b)(1)(E)(i) of the Export-Import Bank Act of 1945 (12 
U.S.C. 635(b)(1)(E)(i)) is amended by adding at the end the following:
    ``(III) The Bank shall provide technical assistance to small 
businesses on how to apply for financial assistance provided by the 
Bank (such as through training classes and online webinars).''.

SEC. 204. EXPOSURE LIMIT ESTIMATES.

    Section 8 of the Export-Import Bank Act of 1945 (12 U.S.C. 635g) is 
amended by adding at the end the following:
    ``(k) Exposure Limit Estimates.--The Bank shall include in its 
annual report to Congress under subsection (a)--
            ``(1) an estimate of the anticipated demand for the loan, 
        guarantee, and insurance programs of the Bank for the 2 
        succeeding years, disaggregated by--
                    ``(A) industry sector;
                    ``(B) whether the products involved are short-term 
                loans, medium-term loans, long-term loans, insurance, 
                medium-term loan guarantees, or long-term loan 
                guarantees; and
                    ``(C) key market;
            ``(2) a justification for the estimate described in 
        paragraph (1), including a discussion of the factors which 
        could increase or decrease demand for the products of the Bank;
            ``(3) an analysis of the ability of the Bank to meet its 
        mandates with respect to small business, sub-Saharan Africa, 
        and renewable energy under the estimated exposure limit 
        described in paragraph (1); and
            ``(4) an analysis of the adequacy of the administrative and 
        programmatic resources of the Bank to effectively process, 
        approve, and monitor financing provided by the Bank, including 
        the conducting of required economic impact analyses and 
        environmental assessments, under the estimated exposure limit 
        described in paragraph (1).''.

SEC. 205. SMALL BUSINESS AND MEDIUM-SIZED ENTERPRISES REPORTS.

    (a) In General.--The Export-Import Bank Act of 1945 (12 U.S.C. 635 
et seq.) is amended by inserting after section 8A the following:

``SEC. 8B. SMALL BUSINESS CONCERNS AND MEDIUM-SIZED ENTERPRISES 
              REPORTS.

    ``(a) Study.--Not later than 360 days after the date of the 
enactment of this section, and annually thereafter, the Bank shall--
            ``(1) carry out a study on the financial programs and 
        products of the Bank that support exports from small business 
        concerns and enterprises that use or seek to use the medium-
        term programs offered by the Bank, including the programs and 
        products with respect to the implementation of the export 
        credit insurance program, delegated lending authority, and 
        direct loans of the Bank; and
            ``(2) determine the extent to which financial programs and 
        products adequately meet the needs of small business concerns 
        and enterprises that use or seek to use the medium-term 
        programs offered by the Bank in obtaining Bank financing to 
        support the maintenance or creation of jobs in the United 
        States through exports, consistent with the policies of the 
        Bank and the requirement that the Bank obtain a reasonable 
        assurance of repayment.
    ``(b) Report.--On the completion of the study required under 
subsection (a), the Bank shall submit to Congress a report containing--
            ``(1) all findings and determinations made by the Bank in 
        carrying out the study;
            ``(2) an analysis of the extent to which small business 
        concerns and enterprises that use or seek to use the medium-
        term programs offered by the Bank supply exporters with goods 
        and services, the content of which is included in exports 
        supported by a Bank program; and
            ``(3) recommendations to enhance the support the Bank may 
        provide small business concerns and enterprises that use or 
        seek to use the medium-term programs offered by the Bank.
    ``(c) Small Business Concern Defined.--In this section, the term 
`small business concern' has the meaning given the term under section 
3(a) of the Small Business Act (15 U.S.C. 632(a)).''.
    (b) Report on Bank Support for Small and Medium-Sized Companies 
Through Supply Chains.--Section 8 of such Act (12 U.S.C. 635g), as 
amended by section 204 of this Act, is amended by adding at the end the 
following:
    ``(l) Bank Support for Small and Medium-Sized Companies Through 
Supply Chains.--For each transaction with respect to which the Bank is 
required to notify Congress under section 3(b)(3), the Bank shall 
collect information on the size of each company in the supply chain 
with respect to the transaction using the thresholds in the Statistics 
of U.S. Businesses of the Census Bureau. The Bank shall include a 
summary of the information collected under this subsection in its 
annual report to Congress under subsection (a).''.

SEC. 206. MEDIUM-SIZED ENTERPRISES.

    Section 2(b)(1)(F) of the Export-Import Bank Act of 1945 (12 U.S.C. 
635(b)(1)(F)) is amended to read as follows:
    ``(F) Fair Consideration for Medium-Sized Enterprises.--In addition 
to the programs of the Bank to encourage the participation of small 
businesses in international commerce, the policies of the Bank shall 
give fair consideration to making loans and providing guarantees for 
the export of goods and services by enterprises that use, or seek to 
use, the medium-term programs offered by the Bank.''.

SEC. 207. PARTICIPATION AND RISK-SHARING BY PRIVATE SECTOR LENDERS.

    (a) Assessment Required.--Not later than 1 year after the date of 
the enactment of this Act, the Export-Import Bank of the United States 
shall conduct a comparative assessment of the practices of export 
credit agencies of other countries that are major providers of official 
export credit and member countries of the Organisation for Economic Co-
operation and Development with respect to risk- or fee-sharing 
arrangements, to determine the extent to which the Bank could take 
steps to increase the share of loan-level risk borne by the private 
sector.
    (b) Establishment of Programs.--On the conclusion of the assessment 
required under subsection (a), the Bank shall, if warranted, establish 
programs under which private financial institutions may share risk in 
the loans, guarantees, and other products of the Bank in exchange for 
receiving fees received from the participants in the programs. The fees 
to a private financial institution shall be commensurate with the level 
of risk taken by the institution.

SEC. 208. RISK-SHARING ARRANGEMENTS.

    (a) In General.--Section 2(c)(2) of the Export-Import Bank Act of 
1945 (12 U.S.C. 635(c)(2)) is amended--
            (1) by striking ``(2) The Bank'' and inserting the 
        following:
    ``(2) Guarantees, Insurance, Coinsurance, and Reinsurance.--
            ``(A) In general.--The Bank''; and
            (2) by adding after and below the end the following new 
        subparagraph:
    ``(B) Expansion of Risk-Sharing Activities.--
            ``(i) In general.--In furtherance of subparagraph (A), in 
        order to expand activities that reduce the share of risk borne 
        by the Bank, the Bank may enter into contracts of reinsurance, 
        co-finance, or other risk-sharing arrangements with respect to 
        the Bank's portfolio or individual transactions with insurance 
        companies, financial institutions, or export credit agencies.
            ``(ii) Limitation.--The total amount of outstanding risk-
        sharing arrangements entered into under clause (i) shall not 
        exceed $25,000,000,000.
            ``(iii) Special rule.--
                    ``(I) In general.--To the extent that a loan, 
                guarantee, or insurance obligation of the Bank is 
                covered by a risk-sharing arrangement entered into 
                under clause (i) with an entity that meets the 
                standards of creditworthiness established under 
                subclause (II), the obligation shall be discounted by 
                an amount that reflects the extent to which the Bank 
                has reduced its overall risk exposure as a result of 
                the risk-sharing arrangement for the purposes of 
                section 6(a)(1).
                    ``(II) Creditworthiness standards.--The Bank shall 
                establish the standards of creditworthiness referred to 
                in subclause (I) in consultation with Federal banking 
                and securities regulators and participants in the 
                Interagency Country Risk Assessment System.''.
    (b) Progress Reports.--Section 8 of such Act (12 U.S.C. 635g), as 
amended by sections 204 and 205(b) of this Act, is further amended by 
adding at the end the following:
    ``(m) Progress Report on Expansion of Risk-Sharing Activities.--The 
Bank shall include in its annual report to Congress under subsection 
(a) a summary of--
            ``(1) the extent to which the Bank has exercised the 
        authority provided in section 2(c)(2)(B)(i); and
            ``(2) the experience of the Bank in exercising such 
        authority, including any lessons learned from exercising such 
        authority.''.

SEC. 209. PROMOTING RENEWABLE ENERGY EXPORTS.

    (a) In General.--Not later than 1 year after the date of the 
enactment of this Act, the Export-Import Bank of the United States 
shall develop a clear and comprehensive strategic plan to identify how 
to most effectively promote the export of goods and services related to 
renewable energy and end-use energy efficiency technology.
    (b) Elements.--The strategic plan required by subsection (a) shall 
include--
            (1) an assessment of the adequacy of resources, including 
        the allocation of human capital and administrative funds, to 
        meet the goal of allocating at least 10 percent of the Bank's 
        aggregate financing to renewable energy or end-use energy 
        efficiency technology related transactions;
            (2) benchmarks used to measure progress towards meeting the 
        goal described in paragraph (1);
            (3) outreach to stakeholders, including State-level trade 
        promotion agencies, environmental industry associations and 
        experts, delegated lenders, and others as determined by the 
        President of the Bank to be appropriate;
            (4) an assessment of external and internal factors 
        affecting progress towards meeting the goal described in 
        paragraph (1); and
            (5) the specific steps the Bank will take through fiscal 
        year 2022 to achieve the goal described in paragraph (1).

                  TITLE III--ETHICS AND FRAUD CONTROLS

SEC. 301. CODIFYING THE ROLE OF THE CHIEF RISK OFFICER.

    Section 3 of the Export-Import Bank Act of 1945 (12 U.S.C. 635a) is 
amended by adding at the end the following:
    ``(k) Chief Risk Officer.--
            ``(1) In general.--Subject to the approval of the Board of 
        Directors of the Bank, the President of the Bank shall appoint, 
        from among individuals with experience at a senior level in 
        financial risk management, a Chief Risk Officer--
                    ``(A) who shall rank not lower than senior vice 
                president;
                    ``(B) whose sole function shall be to serve as the 
                Chief Risk Officer of the Bank; and
                    ``(C) who shall report directly to the President of 
                the Bank.
            ``(2) Duties.--The Chief Risk Officer shall develop, 
        implement, and manage a comprehensive process for identifying, 
        assessing, monitoring, and reducing Bank-wide risk.''.

SEC. 302. REPORTS ON ETHICS REQUIREMENTS OF THE BANK.

    Not later than 180 days after the date of the enactment of this 
Act--
            (1) 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 that provides a detailed 
        description of the ethics programs of the Bank, including the 
        applicable laws and regulations, ethics training programs, 
        financial disclosure requirements, fraud detection training 
        programs, advice rendered on ethics, conflicts of interest, 
        protocols with the Inspector General, and any other matters 
        relating thereto; and
            (2) the Director of the Office of Government Ethics 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 reviewing the ethics 
        program of the Bank that--
                    (A) evaluates compliance by the Bank with ethics 
                requirements set forth in relevant laws, regulations, 
                and policies; and
                    (B) evaluates the systems, processes, and 
                procedures of the Bank for administering the ethics 
                program of the Bank.

SEC. 303. EMPLOYEE FINANCIAL DISCLOSURES.

    Section 8 of the Export-Import Bank Act of 1945 (12 U.S.C. 635g), 
as amended by sections 204, 205(b), and 208(b) of this Act, is further 
amended by adding at the end the following:
    ``(n) Employee Financial Disclosures.--The Bank shall include in 
its annual report to Congress under subsection (a) the total number of 
Bank employees who are required to file a financial disclosure 
statement pursuant to the Ethics in Government Act of 1978 (5 U.S.C. 
App.), a clear and concise summary of the financial disclosure 
requirements that apply to Bank employees, and a summary of the rights 
of the public to access financial disclosures made by Bank 
employees.''.

SEC. 304. SUPPLEMENTAL ETHICS REGULATIONS.

    Not later than 1 year after the date of the enactment of this Act, 
the Export-Import Bank of the United States shall conduct a risk 
assessment of the vulnerability of its programs to employee misconduct 
based upon a historical review of adverse employment actions taken by 
the Bank and, if appropriate, shall issue updated supplemental 
standards of ethical conduct for employees of the Bank pursuant to the 
Ethics in Government Act of 1978 (5 U.S.C. App.).

SEC. 305. ANNUAL EMPLOYEE CERTIFICATIONS.

    Section 3 of the Export-Import Bank Act of 1945 (12 U.S.C. 635a), 
as amended by section 301 of this Act, is amended by adding at the end 
the following:
    ``(l) Annual Employee Certifications.--The President of the Bank 
shall implement a policy that requires all directors, officers, and 
employees of the Bank to certify annually that they have read, 
understand, and complied with, and will continue to comply with, the 
Standards of Ethical Conduct for Employees of the Executive Branch 
under part 2635 of title 5, Code of Federal Regulations. The annual 
certifications shall contain a statement that notifies the signatory 
that section 1001 of title 18, United States Code, applies to the 
certification.''.

            TITLE IV--ENHANCING EXTERNAL AUDITS AND REVIEWS

SEC. 401. ENHANCED AUDIT CONTROLS.

    Section 2 of the Export-Import Bank Act of 1945 (12 U.S.C. 635) is 
amended by adding at the end the following:
    ``(k) Corporate Governance and Internal Controls.--
            ``(1) Audit trail.--The Bank shall ensure complete and 
        accurate records are maintained to provide an audit trail for 
        each transaction subject to approval by the Board from 
        application through close-out, including eligibility and due 
        diligence.
            ``(2) Quality control review program.--The Bank shall 
        establish a quality control review program to ensure compliance 
        with Bank policies and the accuracy of records for all types of 
        transactions subject to approval by the Board.''.

SEC. 402. INDEPENDENT EVALUATION OF BANK PORTFOLIO.

    (a) Audit.--The Inspector General of the Export-Import Bank of the 
United States shall conduct an audit or evaluation of the portfolio 
risk management procedures of the Bank, including a review of the 
implementation by the Bank of the duties assigned to the Chief Risk 
Officer under section 3(k) of the Export-Import Bank Act of 1945, as 
added by section 301 of this Act.
    (b) Report.--Not later than 18 months after the date the Board of 
Directors of the Bank approves the appointment of the Chief Risk 
Officer, the Inspector General 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 
containing all findings and determinations made in carrying out 
subsection (a).

SEC. 403. EXTERNAL REVIEW OF FRAUD CONTROLS.

    Section 17(b) of the Export-Import Bank Reauthorization Act of 2012 
(12 U.S.C. 635a-6(b)) is amended to read as follows:
    ``(b) Review of Fraud Controls.--Not less frequently than every 4 
years, the Comptroller General of the United States shall--
            ``(1) review the adequacy of the design and effectiveness 
        of the controls used by the Export-Import Bank of the United 
        States to prevent, detect, and investigate fraudulent 
        applications for loans and guarantees and the compliance by the 
        Bank with the controls, including by auditing a sample of Bank 
        transactions; and
            ``(2) submit to the Committees on Financial Services and 
        Appropriations of the House of Representatives and the 
        Committees on Banking, Housing, and Urban Affairs and 
        Appropriations of the Senate a written report regarding the 
        findings of the review and providing such recommendations with 
        respect to the controls described in paragraph (1) as the 
        Comptroller General deems appropriate.''.

      TITLE V--STRENGTHENING PROJECT MONITORING AND DUE DILIGENCE

SEC. 501. ENHANCED MONITORING AND DUE DILIGENCE FOR STRUCTURED AND 
              PROJECT FINANCE TRANSACTIONS.

    Section 2 of the Export-Import Bank Act of 1945 (12 U.S.C. 635), as 
amended by section 401 of this Act, is further amended by adding at the 
end the following:
    ``(l) Customer and Reputational Assessments.--The Bank shall 
perform or cause to be performed `risk-based due diligence', `know your 
customer', and `character, reputational, and transaction integrity' 
assessments (as those terms are defined by the Bank) of persons who 
benefit directly from Bank financing in structured finance and project 
finance transactions, to the extent practicable.''.

SEC. 502. MONITORING PLANS AND POST-APPROVAL ASSESSMENTS FOR STRUCTURED 
              AND PROJECT FINANCE TRANSACTIONS.

    Section 2 of the Export-Import Bank Act of 1945 (12 U.S.C. 635), as 
amended by sections 401 and 501 of this Act, is further amended by 
adding at the end the following:
    ``(m) Individualized Plans.--
            ``(1) In general.--The Bank shall develop a specific 
        monitoring plan for each structured finance or project finance 
        transaction prior to final approval by the Board that addresses 
        the specific risks presented by the structure of the deal, 
        including the financial stability of the sponsor of the 
        project, risks of unproven technology, social and environmental 
        conditions, and interest rate or exchange rate volatility.
            ``(2) Elements.--A plan required by paragraph (1) with 
        respect to a transaction shall include, at a minimum--
                    ``(A) a review of financial statements;
                    ``(B) a review of engineering reports;
                    ``(C) a review of environmental assessments; and
                    ``(D) site visits for engineers and members of the 
                Asset Management Division of the Bank.
    ``(n) Post-Approval Review.--The Bank shall--
            ``(1) review each structured finance and project finance 
        transaction referred to in subsection (m) not later than 2 
        years after funds are first disbursed for the transaction, on a 
        regular and ongoing basis as appropriate thereafter, and not 
        later than 1 year after the final disbursement of funds with 
        respect to the transaction; and
            ``(2) 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 summarizing all 
        findings and determinations made in each review conducted under 
        paragraph (1), subject to protections for business confidential 
        information.''.

SEC. 503. RESERVING THE RIGHT OF INSPECTION.

    Section 2 of the Export-Import Bank Act of 1945 (12 U.S.C. 635), as 
amended by sections 401, 501, and 502 of this Act, is further amended 
by adding at the end the following:
    ``(o) Monitoring of Transactions That Are Subject to Board 
Approval.--
            ``(1) Right of inspection.--The Bank, or its agent, shall 
        reserve the right of inspection in any credit agreement for a 
        transaction subject to the approval of the Board of Directors 
        sufficient to validate that disbursements pursuant to the 
        agreement comply with the law and the policies and procedures 
        of the Bank. The right of inspection shall include a right to 
        examine the books and records of the obligor regarding the 
        transaction.
            ``(2) Staffing.--The Bank shall ensure that sufficient 
        staff are allocated to monitor and validate compliance by 
        obligors with respect to transactions subject to the approval 
        of the Board of Directors.''.

                TITLE VI--MODERNIZATION OF BANK SYSTEMS

SEC. 601. ELECTRONIC PAYMENTS AND DOCUMENTS.

    Section 2(b)(1)(J) of the Export-Import Bank Act of 1945 (12 U.S.C. 
635(b)(1)(J)) is amended--
            (1) by striking ``The Bank'' and inserting ``(i) The 
        Bank''; and
            (2) by adding at the end the following:
    ``(ii) Not later than 30 months after the date of the enactment of 
the Promoting U.S. Jobs Through Exports Act of 2015, the Bank shall 
implement policies--
            ``(I) to accept electronic documents whenever possible, 
        including copies of bills of lading, certifications, and 
        compliance documents, in such a manner as will not undermine 
        any potential civil or criminal enforcement related to the 
        transaction; and
            ``(II) to accept electronic payments in all of its 
        programs.''.

SEC. 602. REAUTHORIZATION OF INFORMATION TECHNOLOGY UPDATING.

    Section 3(j) of the Export-Import Act of 1945 (12 U.S.C. 635a(j)) 
is amended--
            (1) in the subsection heading, by striking ``Bank Surplus'' 
        and inserting ``Administrative Funds'';
            (2) in paragraph (1), by striking ``Subject to paragraphs 
        (3) and (4), the Bank may use an amount equal to 1.25 percent 
        of the surplus of the Bank during fiscal years 2012, 2013, and 
        2014 to'' and inserting ``Subject to paragraphs (2) and (3), 
        the Bank may use amounts made available to the Bank for 
        administrative expenses, including fees for systems 
        infrastructure, to'';
            (3) by striking paragraph (2) and redesignating paragraphs 
        (3) and (4) as paragraphs (2) and (3), respectively; and
            (4) in paragraph (2) (as so redesignated), by striking 
        ``for fiscal years 2012, 2013, and 2014 shall not exceed 
        $20,000,000'' and inserting ``, for the period beginning on the 
        date of the enactment of the Promoting U.S. Jobs Through 
        Exports Act of 2015 and ending on the date specified in section 
        7, shall not exceed $45,000,000''.

SEC. 603. INFORMATION TECHNOLOGY MODERNIZATION.

    Section 3 of the Export-Import Bank Act of 1945 (12 U.S.C. 635a), 
as amended by sections 301 and 305 of this Act, is further amended by 
adding at the end the following:
    ``(m) Information Technology Infrastructure Assessment and Plan.--
The Bank shall--
            ``(1) conduct an assessment of its information technology 
        infrastructure and its use of information technology; and
            ``(2) develop a clear and comprehensive information 
        technology strategic plan that--
                    ``(A) meets the requirements of the Office of 
                Management and Budget;
                    ``(B) takes into account best practices related to 
                the security and privacy of the information technology 
                infrastructure and networks of the Bank;
                    ``(C) promotes technological innovation in order to 
                enhance the efficiency and quality of services provided 
                to users of the Bank, particularly small businesses and 
                their customers;
                    ``(D) includes a detailed assessment of the cost 
                associated with implementing the plan, including 
                whether additional administrative funds are necessary 
                to effectively implement the plan, and, if so, a 
                detailed justification summarizing how the additional 
                funds will be spent.
    ``(n) Data Management Policy.--The Bank shall develop formal data 
management policy and procedures that--
            ``(1) ensure complete and accurate data with respect to 
        participants in the Bank's programs is captured in the database 
        of the Bank in a readily accessible medium; and
            ``(2) define which information is required for reporting 
        purposes.''.

SEC. 604. MODERNIZING THE DISCLOSURE OF ENVIRONMENTAL REPORTS.

    Section 11 of the Export-Import Bank Act of 1945 (12 U.S.C. 635i-5) 
is amended--
            (1) in subsection (a)(1), by striking ``Such procedures 
        shall provide'' and all that follows through ``The preceding 
        sentence'' and inserting the following: ``Such procedures shall 
        provide for the public disclosure on the Bank's website 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. Public disclosure of reports under the 
        preceding sentence shall be provided for not later than 15 
        business days after the Bank receives the reports. The 
        preceding sentences''; and
            (2) in subsection (b)--
                    (A) by striking ``(b)'' and all that follows 
                through ``The Bank'' and inserting the following:
    ``(b) Use of Bank Programs To Encourage Certain Export.--The 
Bank''; and
                    (B) by striking paragraph (2).

   TITLE VII--LEVELING THE PLAYING FIELD FOR UNITED STATES EXPORTERS

SEC. 701. LEVELING THE PLAYING FIELD FOR UNITED STATES EXPORTERS.

    Section 11 of the Export-Import Bank Reauthorization Act of 2012 
(12 U.S.C. 635a-5) is amended by striking subsections (a) and (b) and 
inserting the following:
    ``(a) Negotiations To Bring Non-OECD Members Into the OECD 
Arrangement on Officially Supported Export Credits.--The Secretary of 
the Treasury shall initiate and pursue negotiations with countries that 
are not members of the Organisation for Economic Co-operation and 
Development to bring those countries into a multilateral agreement 
establishing rules and limitations on officially supported export 
credits.
    ``(b) Annual Reports on Progress of Negotiations.--Not later than 
180 days after the date of the enactment of the Promoting U.S. Jobs 
Through Exports Act of 2015, and annually thereafter through calendar 
year 2022, 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 progress of 
any negotiations described in subsection (a).''.

SEC. 702. PROHIBITING ILLEGAL SUPPORT OF FOREIGN EXPORTS.

    The United States Trade Representative shall--
            (1) seek to identify the extent to which countries that are 
        members of the World Trade Organization and are not parties to 
        the Arrangement on Officially Supported Export Credits of the 
        Organisation for Economic Co-operation and Development are 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
            (2) seek appropriate action within the World Trade 
        Organization for each country that is not in compliance with 
        the terms of that Agreement.
                                 <all>