[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[S. 1928 Introduced in Senate (IS)]

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118th CONGRESS
  1st Session
                                S. 1928

To modify the prohibition on financing in the Export-Import Bank of the 
                 United States, and for other purposes.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             June 12, 2023

Mr. Manchin (for himself and Mr. Risch) introduced the following bill; 
which was read twice and referred to the Committee on Banking, Housing, 
                           and Urban Affairs

_______________________________________________________________________

                                 A BILL


 
To modify the prohibition on financing in 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.

    This Act may be cited as the ``Civil Nuclear Export Act of 2023''.

SEC. 2. MODIFICATION OF PROHIBITION ON FINANCING IN THE EXPORT-IMPORT 
              BANK OF THE UNITED STATES.

    Section 2(b)(5) of the Export-Import Bank Act of 1945 (12 U.S.C. 
635(b)(5)) is amended, in the first sentence, by inserting ``, except 
any purchase that is otherwise permitted under an agreement made in 
accordance with section 123 of the Atomic Energy Act of 1954 (42 U.S.C. 
2153) or any other applicable law of the United States,'' after ``(C) 
the purchase''.

SEC. 3. EXPANSION OF PROGRAM ON CHINA AND TRANSFORMATIONAL EXPORTS.

    Section 2(l)(1)(B) of the Export-Import Bank Act of 1945 (12 U.S.C. 
635(l)(1)(B)) is amended--
            (1) by redesignating clause (xi) as clause (xii); and
            (2) by inserting after clause (x) the following:
                            ``(xi) Civil nuclear facilities, material, 
                        and technologies, and related goods and 
                        services that support the development of an 
                        effective nuclear energy sector.''.

SEC. 4. NUCLEAR LIABILITY COVERAGE.

    Section 2 of the Export-Import Bank Act of 1945 (12 U.S.C. 635) is 
amended by adding at the end the following:
    ``(m) Nuclear Liability Coverage.--
            ``(1) In general.--If there is a claim or judgment against 
        the Bank relating to bodily injury, death, or damage to or loss 
        of real or personal property, the Secretary of the Treasury 
        shall, subject to paragraph (2), pay, from the general fund of 
        the Treasury such claim or judgment, and related costs, if--
                    ``(A) such bodily injury, death, or damage to or 
                loss of real or personal property is determined in a 
                court of competent jurisdiction to have resulted from a 
                nuclear incident at a nuclear facility that received 
                financial support from the Bank; and
                    ``(B) there is no applicable treaty or other 
                arrangement fully absolving the Bank of liability.
            ``(2) Maximum amount.--Any claim or judgment, and any 
        related costs paid in accordance with paragraph (1), to the 
        extent not otherwise absolved by any applicable treaty or other 
        arrangement, may not exceed the maximum amount of financial 
        protection per incident required to cover public liability 
        claims under section 170(b) of the Atomic Energy Act of 1954 
        (42 U.S.C. 2210(b)).
            ``(3) Presidential authority to authorize payments.--If the 
        aggregate amount of claims, judgments, and related costs 
        resulting from a single nuclear incident exceeds the maximum 
        amount under paragraph (2), the President--
                    ``(A) may authorize, under such terms and 
                conditions as the President may direct, the payment of 
                such claims or judgments, and costs related to such 
                claims or judgments, from any contingency funds 
                available to the United States Government; and
                    ``(B) if such funds are insufficient or 
                unavailable, shall certify such claims or judgments to 
                Congress for appropriation of the necessary funds.''.

SEC. 5. MODIFICATION OF LENDING CAP.

    Section 6(a) of the Export-Import Bank Act of 1945 (12 U.S.C. 
635e(a)) is amended--
            (1) in paragraph (1), by striking ``applicable amount.'' 
        and inserting ``applicable amount, unless the aggregate amount 
        that is in excess of the applicable amount--
                    ``(A) is attributed by the Bank to loans, 
                guarantees, and insurance under the Program on China 
                and Transformational Exports pursuant to section 2(l); 
                and
                    ``(B) does not exceed $50,000,000,000.'';
            (2) in paragraph (3)--
                    (A) in the header, by striking ``2'' and inserting 
                ``4''; and
                    (B) by striking ``2 percent'' each place it appears 
                and inserting ``4 percent''; and
            (3) by adding at the end the following:
            ``(5) Authority to attribute loans, guarantees, and 
        insurance.--The Bank may attribute any loan, guarantee, or 
        insurance issued under the Program on China and 
        Transformational Exports pursuant to section 2(l) toward the 
        aggregate amount that is in excess of the applicable amount 
        described in paragraph (1) without regard to the date on which 
        the Bank issued such loan, guarantee, or insurance.''.

SEC. 6. MODIFICATION OF MONITORING OF DEFAULT RATES.

    Section 8(g) of the Export-Import Bank Act of 1945 (12 U.S.C. 
635g(g)) is amended--
            (1) in paragraph (3), by striking ``2 percent'' each place 
        it appears and inserting ``4 percent'';
            (2) in paragraph (4)(B), by striking ``2 percent'' and 
        inserting ``4 percent'';
            (3) in paragraph (5)--
                    (A) in the header, by striking ``2'' and inserting 
                ``4''; and
                    (B) by striking ``2 percent'' and inserting ``4 
                percent'';
            (4) in paragraph (6), by striking ``2 percent'' and 
        inserting ``4 percent''; and
            (5) by adding at the end the following:
            ``(7) Exclusion of transactions relating to the program on 
        china and transformational exports.--For the purposes of this 
        subsection, if financing provided under the Program on China 
        and Transformational Exports pursuant to section 2(l) results 
        in the default rate calculated under paragraph (1) equaling or 
        exceeding 4 percent, the Bank may exclude such financing, 
        subject to the approval of the Board of Directors.''.
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