[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[S. 2293 Introduced in Senate (IS)]
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116th CONGRESS
1st Session
S. 2293
To extend the authority of the Export-Import Bank of the United States
and to modify the quorum requirement of the Bank, and for other
purposes.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
July 25, 2019
Mr. Cramer (for himself, Ms. Sinema, Mr. Tillis, Ms. Cantwell, Mr.
Blunt, Mr. Graham, Ms. Collins, Mr. Coons, Ms. Hassan, and Mrs. Murray)
introduced the following bill; which was read twice and referred to the
Committee on Banking, Housing, and Urban Affairs
_______________________________________________________________________
A BILL
To extend the authority of the Export-Import Bank of the United States
and to modify the quorum requirement of the Bank, 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.
This Act may be cited as the ``Export-Import Bank Reauthorization
Act of 2019''.
SEC. 2. EXTENSION OF AUTHORITY OF EXPORT-IMPORT BANK OF THE UNITED
STATES.
(a) In General.--Section 7 of the Export-Import Bank Act of 1945
(12 U.S.C. 635f) is amended by striking ``2019'' and inserting
``2029''.
(b) Authority Relating to Information Technology Systems.--Section
3(j) of the Export-Import Bank Act of 1945 (12 U.S.C. 635a(j)) is
amended--
(1) in paragraph (1), in the matter preceding subparagraph
(A), by striking ``fiscal years'' and all that follows through
``to--'' and inserting ``fiscal years 2019 through 2029 to--'';
and
(2) in paragraph (3), by striking ``fiscal years'' and all
that follows through ``shall not'' and inserting ``fiscal years
2019 through 2029 shall not''.
(c) Annual Reports on Progress of Negotiations To End Export Credit
Financing.--Section 11(e) of the Export-Import Bank Reauthorization Act
of 2012 (12 U.S.C. 635a-5(e)) is amended by striking ``2019'' and
inserting ``2029''.
(d) Pilot Program for Reinsurance.--Section 51008 of the Export-
Import Bank Reform and Reauthorization Act of 2015 (Public Law 114-94;
12 U.S.C. 635 note) is amended by striking ``2019'' each place it
appears and inserting ``2029''.
SEC. 3. AGGREGATE LOAN, GUARANTEE, AND INSURANCE AUTHORITY.
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 defined.--In this subsection, the
term `applicable amount' means--
``(A) $145,000,000,000 for fiscal year 2020;
``(B) $150,000,000,000 for fiscal year 2021;
``(C) $155,000,000,000 for fiscal year 2022;
``(D) $160,000,000,000 for fiscal year 2023;
``(E) $165,000,000,000 for fiscal year 2024;
``(F) $170,000,000,000 for fiscal year 2025; and
``(G) $175,000,000,000 for each of fiscal years
2026 through 2029.''.
SEC. 4. TEMPORARY BOARD OF DIRECTORS FOR THE EXPORT-IMPORT BANK OF THE
UNITED STATES.
Section 3(c)(6) of the Export-Import Bank Act of 1945 (12 U.S.C.
635a(c)(6)) is amended--
(1) by inserting ``(A)'' after ``(6)''; and
(2) by adding at the end the following:
``(B)(i) If there is an insufficient number of directors to
constitute a quorum under subparagraph (A) for 90 consecutive days
during the term of a President of the United States, a temporary Board,
consisting of the following members, shall act in the stead of the
Board of Directors until a quorum of the Board of Directors can be
constituted:
``(I) The United States Trade Representative.
``(II) The Secretary of the Treasury.
``(III) The Secretary of Commerce.
``(IV) The members of the Board of Directors.
``(ii) The chairperson of the temporary Board shall be--
``(I) a member of the Board of Directors described in
clause (i)(IV), consistent with the bylaws of the Bank; or
``(II) if there are no such members of the Board of
Directors, the United States Trade Representative.
``(iii) If the temporary Board consists of members of only one
political party, the President of the United States shall, to the
extent practicable, appoint to the temporary Board a qualified member
of another political party who occupies a position requiring
appointment by the President by and with the advice and consent of the
Senate.
``(iv) A member of the temporary Board specified in subclause (I),
(II), or (III) of clause (i) may delegate the authority of the member
to vote on whether to approve or amend a transaction in an amount of
less than $100,000,000, to--
``(I) if the member is the United States Trade
Representative, the Deputy United States Trade Representative;
or
``(II) if the member is specified in subclause (II) or
(III) of that clause, the Deputy Secretary of the department
specified in that subclause.
``(v) The temporary Board may approve or amend transactions in an
amount that exceeds $25,000,000 only by a vote of the temporary Board.
``(vi) The temporary Board may not change or amend the policies,
procedures, bylaws, or guidelines of the Bank.
``(vii) The chairperson of the temporary Board shall ensure that
the Bank complies with section 2(b)(3) with respect to transactions in
an amount that equals or exceeds $100,000,000.
``(viii) The temporary Board shall terminate on the date that is
the earlier of--
``(I) the last day of the term of the President of the
United States in office as of the date on which the temporary
Board is constituted; or
``(II) the date on which there is a sufficient number of
directors on the Board of Directors to constitute a quorum
under subparagraph (A).
``(ix) This subparagraph shall have no force or effect after
September 30, 2029.''.
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