[Congressional Record Volume 148, Number 52 (Wednesday, May 1, 2002)]
[House]
[Pages H1984-H1985]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




             EXPORT-IMPORT BANK REAUTHORIZATION ACT OF 2001

  Mr. OXLEY. Mr. Speaker, I ask unanimous consent to take from the 
Speaker's table the Senate bill (S. 1372) to reauthorize the Export-
Import Bank of the United States, and ask for its immediate 
consideration in the House.

[[Page H1985]]

  The Clerk read the title of the Senate bill.
  The SPEAKER pro tempore. Is there objection to the request of the 
gentleman from Ohio?
  There was no objection.
  The Clerk read the Senate bill, as follows:

                                S. 1372

       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 2001''.

     SEC. 2. EXTENSION OF AUTHORITY.

       Section 7 of the Export-Import Bank Act of 1945 (12 U.S.C. 
     635f) is amended by striking ``2001'' and inserting ``2006''.

     SEC. 3. 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 to read as 
     follows:
       ``(iii) The sub-Saharan Africa advisory committee shall 
     terminate on September 30, 2006.''.

     SEC. 4. GUARANTEES, INSURANCE, EXTENSION OF CREDIT.

       Section 2(b)(1)(A) of the Export-Import Bank Act of 1945 
     (12 U.S.C. 635(b)(1)(A)) is amended--
       (1) in the fourth sentence, by striking ``on an annual 
     basis'' and inserting ``not later than June 30 each year'';
       (2) in the fifth sentence, by inserting ``(including 
     through use of market windows)'' after ``United States 
     exporters''; and
       (3) by inserting after the fifth sentence, the following 
     new sentence: ``With respect to the proceeding sentence, the 
     Bank shall use all available information to estimate the 
     annual amount of export financing available from other 
     governments and government-related agencies.''.

     SEC. 5. FINANCING FOR SMALL BUSINESS.

       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 ``10'' and 
     inserting ``18''.

     SEC. 6. MARKET WINDOWS.

       The Export-Import Bank Act of 1945 (12 U.S.C. 635 et seq.) 
     is amended by adding at the end the following new section:

     ``SEC. 15. MARKET WINDOWS.

       ``(a) Enhanced Transparency.--To ensure that the Bank 
     financing remains fully competitive, the United States should 
     seek enhanced transparency over the activities of market 
     windows in the OECD Export Credit Arrangement. If such 
     transparency indicates that market windows are disadvantaging 
     United States exporters, the United States should seek 
     negotiations for multilateral disciplines and transparency 
     within the OECD Export Credit Arrangement.
       ``(b) Authorization.--The Bank is authorized to provide 
     financing on terms and conditions that are inconsistent with 
     those permitted under the OECD Export Credit Arrangement--
       ``(1) to match financing terms and conditions that are 
     being offered by market windows on terms that are 
     inconsistent with those permitted under the OECD Export 
     Credit Arrangement, if--
       ``(A) matching such terms and conditions advances the 
     negotiations for multilateral disciplines and transparency 
     within the OECD Export Credit Arrangement; or
       ``(B) transparency verifies that the market window 
     financing is being offered on terms that are more favorable 
     than the terms and conditions that are available from private 
     financial markets; and
       ``(2) when the foreign government-supported institution 
     refuses to provide sufficient transparency to permit the Bank 
     to make a determination under paragraph (1).
       ``(c) Definition.--In this section, the term `OECD' means 
     the Organization for Economic Cooperation and Development.''.

     SEC. 7. INSPECTOR GENERAL OF THE EXPORT-IMPORT BANK.

       (a) Establishment of Position.--Section 11 of the Inspector 
     General Act of 1978 (5 U.S.C. App.) is amended--
       (1) in paragraph (1), by striking ``or the Board of 
     Directors of the Tennessee Valley Authority;'' and inserting 
     ``the Board of Directors of the Tennessee Valley Authority; 
     or the President of the Export-Import Bank;''; and
       (2) in paragraph (2), by striking ``or the Tennessee Valley 
     Authority;'' and inserting ``the Tennessee Valley Authority, 
     or the Export-Import Bank,''.
       (b) Special Provisions.--The Inspector General Act of 1978 
     is amended--
       (1) by redesignating section 8I as section 8J and inserting 
     after section 8H the following new section:

     ``Sec. 8I. Special Provisions Relating to the Export-Import 
       Bank of the United States

       ``(a) In General.--The Inspector General of the Export-
     Import Bank shall not prevent or prohibit the Audit Committee 
     from initiating, carrying out, or completing any audit or 
     investigation or undertaking any other activities in the 
     performance of the duties and responsibilities of the Audit 
     Committee, including auditing the financial statements of the 
     Export-Import Bank, determining when it is appropriate to use 
     independent external auditors, and selecting independent 
     external auditors. In carrying out the duties and 
     responsibilities of Inspector General, the Inspector General 
     of the Export-Import Bank shall not be prevented or 
     prohibited from initiating, carrying out, or completing any 
     audit or investigation, or from issuing any subpoena during 
     the course of any audit or investigation. The Audit Committee 
     shall make available to the Inspector General of the Export-
     Import Bank the reports of all audits the Committee 
     undertakes in the discharge of its duties and 
     responsibilities.
       ``(b) Audit Committee.--For purposes of this section, the 
     term `Audit Committee' means the Audit Committee of the Board 
     of Directors of the Export-Import Bank or any successor 
     thereof.'';
       (2) in section 8J (as redesignated), by striking ``or 8H of 
     this Act'' and inserting ``8H, or 8I of this Act''.
       (c) Executive Level IV.--Section 5315 of title 5, United 
     States Code, is amended by inserting after the item relating 
     to the Inspector General of the Environmental Protection 
     Agency the following:
       ``Inspector General, Export-Import Bank.''.
       (d) Initial Implementation.--Section 9(a)(2) of the 
     Inspector General Act of 1978 is amended by inserting ``to 
     the Office of the Inspector General,'' after ``(2)''.
       (e) Technical Corrections.--Section 11 of the Inspector 
     General Act of 1978 is amended--
       (1) in paragraph (1)--
       (A) by striking the second semicolon after ``Community 
     Service'';
       (B) by striking ``and'' after ``Financial Institutions 
     Fund;''; and
       (C) by striking ``and'' after ``Trust Corporation;''; and
       (2) in paragraph (2), by striking the second comma after 
     ``Community Service''.
       (f) Effective Date.--The amendments made by this section 
     shall take effect on October 1, 2002.


                      Motion Offered by Mr. Oxley

  Mr. OXLEY. Mr. Speaker, I offer a motion.
  The Clerk read as follows:

       Mr. Oxley moves to strike out all of the enacting clause of 
     the Senate bill S. 1372 and insert in lieu thereof the 
     provisions of H.R. 2871 as passed by the House.

  The motion was agreed to.
  The Senate bill was ordered to be read a third time, was read the 
third time, and passed, and a motion to reconsider was laid on the 
table.
  A similar House bill, H.R. 2871, was laid on the table.


                        Appointment of Conferees

  Mr. OXLEY. Mr. Speaker, I ask unanimous consent that the House insist 
on its amendments to S. 1372 and request a conference with the Senate 
thereon.
  The SPEAKER pro tempore. Is there objection to the request of the 
gentleman from Ohio? The Chair hears none and, without objection, 
appoints the following conferees:
  From the Committee on Financial Services, for consideration of the 
Senate bill and the House amendment, and modifications committed to 
conference: Messrs. Oxley, Bereuter, Toomey, Gary G. Miller of 
California, LaFalce and Sanders.
  From the Committee on Government Reform, for consideration of section 
7 of the Senate bill, and modifications committed to conference: 
Messrs. Burton of Indiana, Horn and Waxman.
  There was no objection.

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