[Congressional Record Volume 143, Number 150 (Friday, October 31, 1997)]
[Senate]
[Pages S11573-S11574]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




      EXPORT-IMPORT BANK OF THE UNITED STATES REAUTHORIZATION ACT

  Mr. NICKLES. Mr. President, I ask the Chair lay before the Senate a 
message from the House of Representatives on (S. 1026) to reauthorize 
the Export-Import Bank of the United States.
  The PRESIDING OFFICER laid before the Senate the following message 
from the House of Representatives:

       Resolved, That the bill from the Senate (S. 1026) entitled 
     ``An Act to reauthorize the Export-Import Bank of the United 
     States.'', do pass with the following amendment:
       Strike out all after the enacting clause and insert:

     SECTION 1. EXTENSION OF AUTHORITY.

       Section 7 of the Export-Import Bank Act of 1945 (12 U.S.C. 
     635f) is amended by striking ``1997'' and inserting ``2001''.

     SEC. 2. TIED AID CREDIT FUND AUTHORITY.

       (a) Section 10(c)(2) of the Export-Import Bank Act of 1945 
     (12 U.S.C. 635i-3(c)(2)) is amended by striking ``through 
     September 30, 1997''.
       (b) Section 10(e) of such Act (12 U.S.C. 635i-3(e)) is 
     amended by striking the first sentence and inserting the 
     following: ``There are authorized to be appropriated to the 
     Fund such sums as may be necessary to carry out the purposes 
     of this section.''.

     SEC. 3. 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 ``1997'' and inserting 
     ``2001''.

     SEC. 4. CLARIFICATION OF PROCEDURES FOR DENYING CREDIT BASED 
                   ON THE NATIONAL INTEREST.

       Section 2(b)(1)(B) of the Export-Import Bank Act of 1945 
     (12 U.S.C. 635(b)(1)(B)) is amended--
       (1) in the last sentence, by inserting ``, after 
     consultation with the Committee on Banking and Financial 
     Services of the House of Representatives and the Committee on 
     Banking, Housing, and Urban Affairs of the Senate,'' after 
     ``President''; and
       (2) by adding at the end the following: ``Each such 
     determination shall be delivered in writing to the President 
     of the Bank, shall state that the determination is made 
     pursuant to this section, and shall specify the applications 
     or categories of applications for credit which should be 
     denied by the Bank in furtherance of the national 
     interest.''.

     SEC. 5. ADMINISTRATIVE COUNSEL.

       Section 3(e) of the Export-Import Bank Act of 1945 (12 
     U.S.C. 635a(e)) is amended--
       (1) by inserting ``(1)'' after ``(e)''; and
       (2) by adding at the end the following:
       ``(2) The General Counsel of the Bank shall ensure that the 
     directors, officers, and employees of the Bank have available 
     appropriate legal counsel for advice on, and oversight of, 
     issues relating to ethics, conflicts of interest, personnel 
     matters, and other administrative law matters by designating 
     an attorney to serve as Assistant General Counsel for 
     Administration, whose duties, under the supervision of the 
     General Counsel, shall be concerned solely or primarily with 
     such issues.''.

     SEC. 6. ADVISORY COMMITTEE FOR SUB-SAHARAN AFRICA.

       (a) In General.--Section 2(b) of the Export-Import Bank Act 
     of 1945 (12 U.S.C. 635(b)) is amended by inserting after 
     paragraph (8) the following:
       ``(9)(A) The Board of Directors of the Bank shall take 
     prompt measures, consistent with the credit standards 
     otherwise required by law, to promote the expansion of the 
     Bank's financial commitments in sub-Saharan Africa under the 
     loan, guarantee, and insurance programs of the Bank.
       ``(B)(i) The Board of Directors shall establish and use an 
     advisory committee to advise the Board of Directors on the 
     development and implementation of policies and programs 
     designed to support the expansion described in subparagraph 
     (A).
       ``(ii) The advisory committee shall make recommendations to 
     the Board of Directors on how the Bank can facilitate greater 
     support by United States commercial banks for trade with sub-
     Saharan Africa.
       ``(iii) The advisory committee shall terminate 4 years 
     after the date of the enactment of this subparagraph.''.
       (b) Reports to the Congress.--Within 6 months after the 
     date of the enactment of this Act, and annually for each of 
     the 4 years thereafter, the Board of Directors of the Export-
     Import Bank of the United States submit to the Congress a 
     report on the steps that the Board has taken to implement 
     section 2(b)(9)(B) of the Export-Import Bank Act of 1945 and 
     any recommendations of the advisory committee established 
     pursuant to such section.

     SEC. 7. INCREASE IN LABOR REPRESENTATION ON THE ADVISORY 
                   COMMITTEE OF THE EXPORT-IMPORT BANK.

       Section 3(d)(2) of the Export-Import Bank Act of 1945 (12 
     U.S.C. 635a(d)(2)) is amended--
       (1) by inserting ``(A)'' after ``(2)''; and
       (2) by adding after and below the end the following:

[[Page S11574]]

       ``(B) Not less than 2 members appointed to the Advisory 
     Committee shall be representative of the labor community.''.

     SEC. 8. OUTREACH TO COMPANIES.

       Section 2(b)(1) of the Export-Import Bank Act of 1945 (12 
     U.S.C. 635(b)(1)) is amended by adding at the end the 
     following:
       ``(I) The Chairman of the Bank shall design and implement a 
     program to provide information about Bank programs to 
     companies which have not participated in Bank programs. Not 
     later than 1 year after the date of the enactment of this 
     subparagraph, the Chairman of the Bank shall submit to the 
     Congress a report on the activities undertaken pursuant to 
     this subparagraph.''.

     SEC. 9. FIRMS THAT HAVE SHOWN A COMMITMENT TO REINVESTMENT 
                   AND JOB CREATION IN THE UNITED STATES TO BE 
                   GIVEN PREFERENCE IN FINANCIAL ASSISTANCE 
                   DETERMINATIONS.

       Section 2(b)(1) of the Export-Import Bank Act of 1945 (12 
     U.S.C. 635(b)(1)), as amended by section 8 of this Act, is 
     amended by adding at the end the following:
       ``(J) The Board of Directors of the Bank shall prescribe 
     such regulations and the Bank shall implement such procedures 
     as may be appropriate to ensure that, in selecting from among 
     firms to which to provide financial assistance, preference be 
     given to any firm that has shown a commitment to reinvestment 
     and job creation in the United States.''.

     SEC. 10. PREFERENCE IN EXPORT-IMPORT BANK ASSISTANCE FOR 
                   EXPORTS TO CHINA TO BE PROVIDED TO COMPANIES 
                   ADHERING TO CODE OF CONDUCT.

       (a) In General.--Section 2 of the Export-Import Bank Act of 
     1945 (12 U.S.C. 635) is amended by adding at the end the 
     following:
       ``(f) Preference in Assistance for Exports to China To Be 
     Provided to Entities Adhering to Code of Conduct.--
       ``(1) Prohibitions.--
       ``(A) In general.--In determining whether to guarantee, 
     insure, extend credit, or participate in the extension of 
     credit with respect to the export of goods or services 
     destined for the People's Republic of China, the Board of 
     Directors shall give preference to entities that the Board of 
     Directors determines have established and are adhering to the 
     code of conduct set forth in paragraph (2).
       ``(B) Penalty for violation.--The Bank shall withdraw any 
     guarantee, insurance, or credit that the Bank has provided, 
     and shall withdraw from any participation in an extension of 
     credit, to an entity with respect to the export of any good 
     or service destined for the People's Republic of China if the 
     Board of Directors determines that the entity is not adhering 
     to the code of conduct set forth in paragraph (2).
       ``(2) Code of conduct.--An entity shall do all of the 
     following in all of its operations:
       ``(A) Provide a safe and healthy workplace.
       ``(B) Ensure fair employment, including by--
       ``(i) avoiding child and forced labor, and discrimination 
     based upon race, gender, national origin, or religious 
     beliefs;
       ``(ii) respecting freedom of association and the right to 
     organize and bargain collectively;
       ``(iii) paying not less than the minimum wage required by 
     law or the prevailing industry wage, whichever is higher; and
       ``(iv) providing all legally mandated benefits.
       ``(C) Obey all applicable environmental laws.
       ``(D) Comply with United States and local laws promoting 
     good business practices, including laws prohibiting illicit 
     payments and ensuring fair competition.
       ``(E) Maintain, through leadership at all levels, a 
     corporate culture--
       ``(i) which respects free expression consistent with 
     legitimate business concerns, and does not condone political 
     coercion in the workplace;
       ``(ii) which encourages good corporate citizenship and 
     makes a positive contribution to the communities in which the 
     entity operates; and
       ``(iii) in which ethical conduct is recognized, valued, and 
     exemplified by all employees.
       ``(F) Require similar behavior by partners, suppliers, and 
     subcontractors under terms of contracts.
       ``(G) Implement and monitor compliance with the 
     subparagraphs (A) through (F) through a program that is 
     designed to prevent and detect noncompliance by any employee 
     or supplier of the entity and that includes--
       ``(i) standards for ethical conduct of employees of the 
     entity and of suppliers which refer to the subparagraphs;
       ``(ii) procedures for assignment of appropriately qualified 
     personnel at the management level to monitor and enforce 
     compliance;
       ``(iii) procedures for reporting noncompliance by employees 
     and suppliers;
       ``(iv) procedures for selecting qualified individuals who 
     are not employees of the entity or of suppliers to monitor 
     compliance, and for assessing the effectiveness of such 
     compliance monitoring;
       ``(v) procedures for disciplinary action in response to 
     noncompliance;
       ``(vi) procedures designed to ensure that, in cases in 
     which noncompliance is detected, reasonable steps are taken 
     to correct the noncompliance and prevent similar 
     noncompliance from occurring; and
       ``(vii) communication of all standards and procedures with 
     respect to the code of conduct to every employee and 
     supplier--

       ``(I) by requiring all management level employees and 
     suppliers to participate in a training program; or
       ``(II) by disseminating information orally and in writing, 
     through posting of an explanation of the standards and 
     procedures in prominent places sufficient to inform all 
     employees and suppliers, in the local languages spoken by 
     employees and managers.

       ``(3) Small business exception.--This subsection shall not 
     apply to an entity that is a small business (within the 
     meaning of the Small Business Act).''.
       (b) Annual Report.--Section 2(b)(1)(A) of such Act (12 
     U.S.C. 635(b)(1)(A)) is amended by adding at the end the 
     following: ``The Bank shall include in the annual report a 
     description of the actions the Bank has taken to comply with 
     subsection (f) during the period covered by the report.''.
       (c) Recipients of Assistance From the Export-Import Bank To 
     Be Provided With Resources and Information To Further 
     Adherence to Global Codes of Corporate Conduct.--The Export-
     Import Bank of the United States shall work with the 
     Clearinghouse on Corporate Responsibility that is being 
     developed by the Department of Commerce to ensure that 
     recipients of assistance from the Export-Import Bank are made 
     aware of, and have access to, resources and organizations 
     that can assist the recipients in developing, implementing, 
     and monitoring global codes of corporate conduct.

     SEC. 11. RENAMING OF BANK AS THE UNITED STATES EXPORT BANK.

       (a) Amendments to the Export-Import Bank Act of 1945.--
       (1) The first section of the Export-Import Bank Act of 1945 
     (12 U.S.C. 635 note) is amended to read as follows:

     ``SECTION 1. SHORT TITLE.

       ``This Act may be cited as the `United States Export Bank 
     Act of 1945'.''.
       (2) The following provisions of such Act are amended by 
     striking ``Export-Import Bank of the United States'' and 
     inserting ``United States Export Bank'':
       (A) Section 2(a)(1) (12 U.S.C. 635(a)(1)).
       (B) Section 3(a) (12 U.S.C. 635a(a).
       (C) Section 3(b) (12 U.S.C. 635a(b)).
       (D) Section 3(c)(1) (12 U.S.C. 635a(c)(1)).
       (E) Section 4 (12 U.S.C. 635b).
       (F) Section 5 (12 U.S.C. 635d).
       (G) Section 6(a) (12 U.S.C. 635e(a)).
       (H) Section 7 (12 U.S.C. 635f).
       (I) Section 8(a) (12 U.S.C. 635g(a)).
       (J) Section 9 (12 U.S.C. 635h).
       (3) The following provisions of such Act are amended by 
     striking ``Export-Import Bank'' each place it appears and 
     inserting ``United States Export Bank'':
       (A) Section 2(b)(1)(A) (12 U.S.C. 635(b)(1)(A)).
       (B) Section 3(c)(3) (12 U.S.C. 635a(c)(3)).
       (b) Deeming Rules.--Any reference in any law, map, 
     regulation, document, paper, or other record of the United 
     States to the Export-Import Bank of the United States is 
     deemed to be a reference to the United States Export Bank, 
     and any reference in any law, map, regulation, document, 
     paper, or other record of the United States to the Export-
     Import Bank Act of 1945 is deemed to be a reference to the 
     United States Export Bank Act of 1945.

     SEC. 12. PROHIBITION AGAINST ASSISTANCE TO RUSSIA IF RUSSIA 
                   TRANSFERS CERTAIN MISSILE SYSTEMS TO THE 
                   PEOPLE'S REPUBLIC OF CHINA.

       Section 2(b) of the Export-Import Bank Act of 1945 (12 
     U.S.C 635(b)) is amended by adding at the end the following:
       ``(12) Prohibition against assistance to russia if russia 
     transfers certain missile systems to the people's republic of 
     china.--If the President of the United States is made aware 
     that Russia has transferred or delivered to the People's 
     Republic of China an SS-N-22 or SS-N-26 missile system, the 
     President of the United States shall notify the Bank of the 
     transfer or delivery. Upon receipt of the notification, the 
     Bank shall not insure, guarantee, extend credit or 
     participate in an extension of credit with respect to, or 
     otherwise subsidize the export of any good or service to 
     Russia.''.

     SEC. 13. PROHIBITION AGAINST PROVISION OF ASSISTANCE FOR 
                   EXPORTS TO COMPANIES THAT EMPLOY CHILD LABOR.

       Section 2 of the Export-Import Bank Act of 1945 (12 U.S.C. 
     635) is amended by adding at the end the following:
       ``(f) Prohibition Against Assistance for Exports to 
     Companies That Employ Child Labor.--The Bank shall not 
     guarantee, insure, extend credit, or participate in the 
     extension of credit with respect to the export of any good or 
     service to an entity if the entity--
       ``(1) employs children in a manner that would violate 
     United States law regarding child labor if the entity were 
     located in the United States; or
       ``(2) has not made a binding commitment to not employ 
     children in such manner.''.

  Mr. NICKLES. Mr. President, I move that the Senate disagree to the 
amendment of the House, agree to the request for a conference, and the 
Chair be authorized to appoint conferees on the part of the Senate.
  The motion was agreed to; and the Presiding Officer appointed Mr. 
D'Amato, Mr. Grams, Mr. Hagel, Mr. Sarbanes, and Ms. Moseley-Braun 
conferees on the part of the Senate.

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