[Congressional Record Volume 148, Number 58 (Thursday, May 9, 2002)]
[Senate]
[Pages S4181-S4184]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




             EXPORT-IMPORT BANK REAUTHORIZATION ACT OF 2002

  Mr. REID. Mr. President, I ask the Chair to lay before the Senate a 
message from the House of Representatives with respect to S. 1372.
  The Presiding Officer laid before the Senate a message from the 
House, as follows:

       Resolved, That the bill from the Senate (S. 1372) 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. SHORT TITLE; TABLE OF CONTENTS.

       (a) Short Title.--This Act may be cited as the ``Export-
     Import Bank Reauthorization Act of 2002''.
       (b) Table of Contents.--The table of contents of this Act 
     is as follows:

Sec. 1. Short title; table of contents.
Sec. 2. Clarification that purposes include United States employment.
Sec. 3. Extension of authority.
Sec. 4. Administrative expenses.
Sec. 5. Increase in aggregate loan, guarantee, and insurance authority.
Sec. 6. Activities relating to Africa.
Sec. 7. Small business.
Sec. 8. Technology.
Sec. 9. Tied Aid Credit Fund.
Sec. 10. Expansion of authority to use Tied Aid Credit Fund.
Sec. 11. Renaming of Tied Aid Credit Program and Fund as Export 
              Competitiveness Program and Fund.
Sec. 12. Annual competitiveness report.
Sec. 13. Renewable energy sources.
Sec. 14. GAO reports.
Sec. 15. Human rights.
Sec. 16. Steel.
Sec. 17. Correction of references.
Sec. 18. Authority to deny application for assistance based on fraud or 
              corruption by the applicant.
Sec. 19. Consideration of foreign country helpfulness in efforts to 
              eradicate terrorism.
Sec. 20. Outstanding orders and preliminary injury determinations.
Sec. 21. Sense of the Congress relating to renewable energy targets.
Sec. 22. Requirement that applicants for assistance disclose whether 
              they have violated the Foreign Corrupt Practices Act; 
              maintenance of list of violators.
Sec. 23. Sense of the Congress.

     SEC. 2. CLARIFICATION THAT PURPOSES INCLUDE UNITED STATES 
                   EMPLOYMENT.

       Section 2(a)(1) of the Export-Import Bank Act of 1945 (12 
     U.S.C. 635(a)(1)) is amended by striking the 2nd sentence and 
     inserting the following: ``The objects and purposes of the 
     Bank shall be to aid in financing and to facilitate exports 
     of goods and services, imports, and the exchange of 
     commodities and services between the United States or any of 
     its territories or insular possessions and any foreign 
     country or the agencies or nationals of any such country, and 
     in so doing to contribute to the employment of United States 
     workers. To further meet the objective set forth in the 
     preceding sentence, the Bank shall ensure that its loans, 
     guarantees, insurance, and credits are contributing to 
     maintaining or increasing employment of United States 
     workers.''.

     SEC. 3. EXTENSION OF AUTHORITY.

       Section 7 of the Export-Import Bank Act of 1945 (12 U.S.C. 
     635f) and section 1(c) of Public Law 103-428 (12 U.S.C. 635 
     note; 108 Stat. 4376) are each amended by striking ``2001'' 
     and inserting ``2005''.

     SEC. 4. ADMINISTRATIVE EXPENSES.

       (a) Limitations on Authorization of Appropriations.--
     Section 3 of the Export-Import Bank Act of 1945 (12 U.S.C. 
     635a) is amended by adding at the end the following:
       ``(f) Limitations on Authorization of Appropriations for 
     Administrative Expenses.--
       ``(1) In general.--For administrative expenses incurred by 
     the Bank, including technology-related expenses to carry out 
     section 2(b)(1)(E)(x), there are authorized to be 
     appropriated to the Bank not more than--
       ``(A) for fiscal year 2002, $80,000,000; and
       ``(B) for each of fiscal years 2003 through 2005, the 
     amount authorized by this paragraph to be appropriated for 
     the then preceding fiscal year, increased by the inflation 
     percentage (as defined in section 6(a)(2)(B)) applicable to 
     the then current fiscal year.
       ``(2) Outreach to small businesses with fewer than 100 
     employees.--Of the amount appropriated pursuant to paragraph 
     (1), there shall be available for outreach to small business 
     concerns (as defined under section 3 of the Small Business 
     Act) employing fewer than 100 employees, not more than--
       ``(A) $2,000,000 for fiscal year 2002; and
       ``(B) for each of fiscal years 2003 through 2005, the 
     amount required by this paragraph to be made available for 
     the then preceding fiscal year, increased by the inflation 
     percentage (as defined in section 6(a)(2)(B)) applicable to 
     the then current fiscal year.''.
       (b) Required Budget Subcategories.--Section 1105(a) of 
     title 31, United States Code, is amended by adding at the end 
     the following:
       ``(34) with respect to the amount of appropriations 
     requested for use by the Export-Import Bank of the United 
     States, a separate statement of the amount requested for its 
     program budget, the amount requested for its administrative 
     expenses, and of the amount requested for its administrative 
     expenses, the amount requested for technology expenses and 
     the amount requested for expenses for outreach to small 
     business concerns (as defined under section 3 of the Small 
     Business Act) employing fewer than 100 employees.''.
       (c) Sense of the Congress on the Importance of Technology 
     Improvements.--
       (1) Findings.--The Congress finds that--
       (A) the Export-Import Bank of the United States is in great 
     need of technology improvements;
       (B) part of the amount budgeted for administrative expenses 
     of the Export-Import Bank is used for technology initiatives 
     and systems upgrades for computer hardware and software 
     purchases;
       (C) the Export-Import Bank is falling behind its foreign 
     competitor export credit agencies' proactive technology 
     improvements;
       (D) small businesses disproportionately benefit from 
     improvements in technology;
       (E) small businesses need Export-Import Bank technology 
     improvements in order to export transactions quickly, with as 
     great paper ease as possible, and with a quick Bank turn-
     around time that does not overstrain the tight resources of 
     such businesses;
       (F) the Export-Import Bank intends to develop a number of 
     e-commerce initiatives aimed at improving customer service, 
     including web-based application and claim filing procedures 
     which would reduce processing time, speed payment of claims, 
     and increase staff efficiency;
       (G) the Export-Import Bank is beginning the process of 
     moving insurance applications from an outdated mainframe 
     system to a modern, web-enabled database, with new 
     functionality including credit scoring, portfolio management, 
     work flow and e-commerce features to be added; and
       (H) the Export-Import Bank wants to continue its e-commerce 
     strategy, including web site development, expanding online 
     applications and establishing a public/private sector 
     technology partnership.

[[Page S4182]]

       (2) Sense of the congress.--The Congress emphasizes the 
     importance of technology improvements for the Export-Import 
     Bank of the United States, which are of particular importance 
     for small businesses.

     SEC. 5. INCREASE IN AGGREGATE LOAN, GUARANTEE, AND INSURANCE 
                   AUTHORITY.

       Section 6(a) of the Export-Import Bank Act of 1945 (12 
     U.S.C. 635e(a)) is amended to read as follows:
       ``(a) Limitation on Outstanding Amounts.--
       ``(1) In general.--The Export-Import Bank of the United 
     States shall not have outstanding at any one time loans, 
     guarantees, and insurance in an aggregate amount in excess of 
     the applicable amount.
       ``(2) Applicable amount.--
       ``(A) In general.--In paragraph (1), the term `applicable 
     amount' means--
       ``(i) during fiscal year 2002, $100,000,000,000, increased 
     by the inflation percentage applicable to fiscal year 2002;
       ``(ii) during fiscal year 2003, $110,000,000,000, increased 
     by the inflation percentage applicable to fiscal year 2003;
       ``(iii) during fiscal year 2004, $120,000,000,000, 
     increased by the inflation percentage applicable to fiscal 
     year 2004; and
       ``(iv) during fiscal year 2005, $130,000,000,000, increased 
     by the inflation percentage applicable to fiscal year 2005.
       ``(B) Inflation percentage.--For purposes of subparagraph 
     (A) of this paragraph, the inflation percentage applicable to 
     any fiscal year is the percentage (if any) by which--
       ``(i) the average of the Consumer Price Index (as defined 
     in section 1(f)(5) of the Internal Revenue Code of 1986) for 
     the 12-month period ending on December 31 of the immediately 
     preceding fiscal year; exceeds
       ``(ii) the average of the Consumer Price Index (as so 
     defined) for the 12-month period ending on December 31 of the 
     2nd preceding fiscal year.
       ``(3) Subject to appropriations.--All spending and credit 
     authority provided under this Act shall be effective for any 
     fiscal year only to such extent or in such amounts as are 
     provided in appropriation Acts.''.

     SEC. 6. ACTIVITIES RELATING TO AFRICA.

       (a) Extension of Advisory Committee for Sub-saharan 
     Africa.--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 ``4 years after the date of enactment of this 
     subparagraph'' and inserting ``on September 30, 2005''.
       (b) Coordination of Africa Activities.--Section 2(b)(9)(A) 
     of the Export-Import Bank Act of 1945 (12 U.S.C. 
     635(b)(9)(A)) is amended by inserting ``, in consultation 
     with the Department of Commerce and the Trade Promotion 
     Coordinating Council,'' after ``shall''.
       (c) Continued Reports to the Congress.--Section 7(b) of the 
     Export-Import Bank Reauthorization Act of 1997 (12 U.S.C. 635 
     note) is amended by striking ``4'' and inserting ``8''.
       (d) Creation of Office on Africa.--Section 3 of the Export-
     Import Bank Act of 1945 (12 U.S.C. 635a) is further amended 
     by adding at the end the following:
       ``(g) Office on Africa.--
       ``(1) Establishment.--There is established in the Bank an 
     Office on Africa.
       ``(2) Function.--The Office on Africa shall focus on 
     increasing Bank activities in Africa and increasing 
     visibility among United States companies of African markets 
     for exports.
       ``(3) Reports.--The Office on Africa shall, from time to 
     time not less than annually, report to the Board on the 
     matters described in paragraph (2).''.

     SEC. 7. SMALL BUSINESS.

       (a) In General.--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--
       (1) by striking ``10'' and inserting ``20''; and
       (2) by inserting ``, and from such amount, not less than 8 
     percent of such authority shall be made available for small 
     business concerns employing fewer than 100 employees'' before 
     the period.
       (b) Outreach to Businesses Owned by Socially Disadvantaged 
     Individuals or Women.--Section 2(b)(1)(E)(iii)(II) of such 
     Act (12 U.S.C. 635(b)(1)(E)(iii)(II)) is amended by inserting 
     after ``Bank'' the following: ``, with particular emphasis on 
     conducting outreach and increasing loans to businesses not 
     less than 51 percent of which are directly and 
     unconditionally owned by 1 or more socially disadvantaged 
     individuals (as defined in section 8(a)(5) of the Small 
     Business Act) or women,''.
       (c) Office for Small Business Exporters.--Section 3 of such 
     Act (12 U.S.C. 635a) is further amended by adding at the end 
     the following:
       ``(h) Office for Small Business Exporters.--
       ``(1) Establishment.--There is established in the Bank an 
     Office for Small Business Exporters.
       ``(2) Function.--The Office for Small Business Exporters 
     shall focus on increasing Bank activities to enhance small 
     business exports and to meet the unique trade finance needs 
     of small business exporters.
       ``(3) Reports.--The Office for Small Business Exporters 
     shall, from time to time not less than annually, report to 
     the Board on the how the Office for Small Business Exporters 
     is achieving the goals as described in paragraph (2).
       ``(4) Sense of congress.--It is the sense of the Congress 
     that the Bank should redirect and prioritize existing 
     resources and personnel to establish the Office for Small 
     Business Exporters.''.

     SEC. 8. TECHNOLOGY.

       (a) Small Business.--Section 2(b)(1)(E) of the Export-
     Import Bank Act of 1945 (12 U.S.C. 635(b)(1)(E)) is amended 
     by adding at the end the following:
       ``(x) The Bank shall implement technology improvements 
     which are designed to improve small business outreach, 
     including allowing customers to use the Internet to apply for 
     all Bank programs.''.
       (b) Electronic Tracking of Pending Transactions.--Section 
     2(b)(1) of such Act (12 U.S.C. 635(b)(1)) is amended by 
     adding at the end the following:
       ``(J) The Bank shall implement an electronic system 
     designed to track all pending transactions of the Bank.''.
       (c) Reports.--
       (1) In general.--During each of fiscal years 2002 through 
     2005, the Export-Import Bank of the United States shall 
     submit to the Committees on Financial Services and on 
     Appropriations of the House of Representatives and the 
     Committees on Banking, Housing, and Urban Affairs and on 
     Appropriations of the Senate an interim report and a final 
     report on the efforts made by the Bank to carry out 
     subsections (E)(x) and (J) of section 2(b)(1) of the Export-
     Import Bank Act of 1945, and on how the efforts are assisting 
     small businesses.
       (2) Timing.--The interim report required by paragraph (1) 
     for a fiscal year shall be submitted April 30 of the fiscal 
     year, and the final report so required for a fiscal year 
     shall be submitted on November 1 of the succeeding fiscal 
     year.

     SEC. 9. TIED AID CREDIT FUND.

       (a) Principles, Process, and Standards.--Section 10(b) of 
     the Export-Import Bank Act of 1945 (12 U.S.C. 635i-3(b)) is 
     amended--
       (1) in paragraph (2), by striking subparagraph (A) and 
     inserting the following:
       ``(A) in consultation with the Secretary and in accordance 
     with the principles, process, and standards developed 
     pursuant to paragraph (5) of this subsection and the purposes 
     described in subsection (a)(5);''; and
       (2) by adding at the end the following:
       ``(5) Principles, Process, and standards governing use of 
     the fund.--
       ``(A) In general.--The Secretary and the Bank jointly shall 
     develop a process for, and the principles and standards to be 
     used in, determining how the amounts in the Tied Aid Credit 
     Fund could be used most effectively and efficiently to carry 
     out the purposes of subsection (a)(6).
       ``(B) Content of principles, process, and standards.--
       ``(i) Consideration of certain principles and standards.--
     In developing the principles and standards referred to in 
     subparagraph (A), the Secretary and the Bank shall consider 
     administering the Tied Aid Credit Fund in accordance with the 
     following principles and standards:

       ``(I) The Tied Aid Credit Fund should be used to leverage 
     multilateral negotiations to restrict the scope for aid-
     financed trade distortions through new multilateral rules, 
     and to police existing rules.
       ``(II) The Tied Aid Credit Fund will be used to counter a 
     foreign tied aid credit confronted by a United States 
     exporter when bidding for a capital project.
       ``(III) Credible information about an offer of foreign tied 
     aid will be required before the Tied Aid Credit Fund is used 
     to offer specific terms to match such an offer.
       ``(IV) The Tied Aid Credit Fund will be used to enable a 
     competitive United States exporter to pursue further market 
     opportunities on commercial terms made possible by the use of 
     the Fund.
       ``(V) Each use of the Tied Aid Credit Fund will be in 
     accordance with the Arrangement unless a breach of the 
     Arrangement has been committed by a foreign export credit 
     agency.
       ``(VI) The Tied Aid Credit Fund may only be used to defend 
     potential sales by United States companies to a project that 
     is environmentally sound.
       ``(VII) The Tied Aid Credit Fund may be used to 
     preemptively counter potential foreign tied aid offers 
     without triggering foreign tied aid use.

       ``(ii) Limitation.--The principles, process and standards 
     referred to in subparagraph (A) shall not result in the 
     Secretary having the authority to veto a specific deal.
       ``(C) Initial principles, process, and standards.--As soon 
     as is practicable but not later than 6 months after the date 
     of the enactment of this paragraph, the Secretary and the 
     Bank 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 copy of the 
     principles, process, and standards developed pursuant to 
     subparagraph (A).
       ``(D) Transitional principles and standards.--The 
     principles and standards set forth in subparagraph (B)(i) 
     shall govern the use of the Tied Aid Credit Fund until the 
     principles, process, and standards required by subparagraph 
     (C) are submitted.
       ``(E) Update and revision.--The Secretary and the bank 
     jointly should update and revise, as needed, the principles, 
     process, and standards developed pursuant to subparagraph 
     (A), and, on doing so, 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 copy of the principles, process, and standards so 
     updated and revised.''.
       (b) Reconsideration of Board Decisions on Use of Fund.--
     Section 10(b) of such Act (12 U.S.C. 635i-3(b)) is further 
     amended by adding at the end the following:
       ``(6) Reconsideration of decisions.--
       ``(A) In general.--Taking into consideration the time 
     sensitivity of transactions, the Board of Directors of the 
     Bank shall expeditiously pursuant to paragraph (2) reconsider 
     a decision of the Board to deny an application of the use of 
     the Tied Aid Credit Fund if the applicant submits the request 
     for reconsideration within 3 months of the denial.

[[Page S4183]]

       ``(B) Procedural rules.--In any such reconsideration, the 
     applicant may be required to, provide new information on the 
     application.''.

     SEC. 10. EXPANSION OF AUTHORITY TO USE TIED AID CREDIT FUND.

       (a) Untied Aid.--
       (1) Negotiations.--The Secretary of the Treasury shall seek 
     to negotiate an OECD Arrangement on Untied Aid. In the 
     negotiations, the Secretary should seek agreement on 
     subjecting untied aid to the rules governing the Arrangement, 
     including the rules governing disclosure.
       (2) Report to the Congress.--Within 1 year after the date 
     of the enactment of this Act, the Secretary of the Treasury 
     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 
     successes, failures, and obstacles in initiating 
     negotiations, and if negotiations were initiated, in reaching 
     the agreement described in paragraph (1).
       (b) Market Windows.--
       (1) Negotiations.--The Secretary of the Treasury shall seek 
     to negotiate an OECD Arrangement on Market Windows. In the 
     negotiations, the Secretary should seek agreement on 
     subjecting market windows to the rules governing the 
     Arrangement, including the rules governing disclosure.
       (2) Report to the congress.--Within 2 years after the date 
     of the enactment of this Act, the Secretary of the Treasury 
     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 
     successes, failures, and obstacles in initiating 
     negotiations, and if negotiations were initiated, in reaching 
     the agreement described in paragraph (1).
       (c) Use of Tied Aid Credit Fund To Combat Untied Aid.--
     Section 10 of the Export-Import Bank Act of 1945 (12 U.S.C. 
     635i-3) is amended in subsection (a)--
       (A) in paragraph (4), by striking ``and'' at the end;
       (B) in paragraph (5), by inserting ``, or untied aid,'' 
     before ``for commercial'' the 1st and 3rd places it appears; 
     and
       (C) by redesignating paragraph (5) as paragraph (6) and 
     inserting after paragraph (4) the following:
       ``(5) the Bank has, at a minimum, the following two tasks:
       ``(A)(i) First, the Bank should match, and even overmatch, 
     foreign export credit agencies and aid agencies when they 
     engage in tied aid outside the confines of the Arrangement 
     and when they exploit loopholes, such as untied aid;
       ``(ii) such matching and overmatching is needed to provide 
     the United States with leverage in efforts at the OECD to 
     reduce the overall level of export subsidies;
       ``(iii) only through matching or bettering foreign export 
     credit offers can the Bank buttress United States negotiators 
     in their efforts to bring these loopholes within the 
     disciplines of the Arrangement; and
       ``(iv) in order to bring untied aid within the discipline 
     of the Arrangement, the Bank should sometimes initiate highly 
     competitive financial support when the Bank learns that 
     foreign untied aid offers will be made; and
       ``(B) Second, the Bank should support United States 
     exporters when the exporters face foreign competition that is 
     consistent with the letter and spirit of the Arrangement and 
     the Subsidies Code of the World Trade Organization, but which 
     nonetheless is more generous than the terms available from 
     the private financial market; and''.
       (d) Definition of Market Window.--Section 10(h) of such Act 
     (12 U.S.C. 635i-3(h)) is amended by adding at the end the 
     following:
       ``(7) Market window.--The term `market window' means the 
     provision of export financing through an institution (or a 
     part of an institution) that claims to operate on a 
     commercial basis while benefiting directly or indirectly from 
     some level of government support.''.

     SEC. 11. RENAMING OF TIED AID CREDIT PROGRAM AND FUND AS 
                   EXPORT COMPETITIVENESS PROGRAM AND FUND.

       Section 10 of the Export-Import Bank Act of 1945 (12 U.S.C. 
     635i-3) is further amended--
       (1) by striking all that precedes paragraph (1) of 
     subsection (a) and inserting the following:

     ``SEC. 10. EXPORT COMPETITIVENESS FUND.

       ``(a) Findings.--The Congress finds that--'';
       (2) in subsection (a)(6) (as so redesignated by section 
     9(c)(1)(D) of this Act), by striking ``tied aid program'' and 
     inserting ``export competitiveness program'';
       (3) in the heading of subsection (b), by striking ``Tied 
     Aid Credit'' and inserting ``Export Competitiveness'';
       (4) in subsection (b)(1)--
       (A) by striking ``tied aid credit program'' and inserting 
     ``export competitiveness program''; and
       (B) by striking ``Tied Aid Credit fund'' and inserting 
     ``Export Competitiveness Fund'';
       (5) in subsection (b)(2), by striking ``tied aid credit 
     program'' and inserting ``export competitiveness program'';
       (6) in subsection (b)(3)--
       (A) by striking ``tied aid credit program'' and inserting 
     ``export competitiveness program''; and
       (B) by striking ``Tied Aid Credit Fund'' and inserting 
     ``Export Competitiveness Fund'';
       (7) in subsection (b)(5) (as added by section 9(a)(2) of 
     this Act), by striking ``Tied Aid Credit Fund'' each place it 
     appears and inserting ``Export Competitiveness Fund'';
       (8) in subsection (b)(6) (as added by section 9(b) of this 
     Act), by striking ``Tied Aid Credit Fund'' and inserting 
     ``Export Competitiveness Fund'';
       (9) in subsection (c)--
       (A) in the subsection heading, by striking ``Tied Aid 
     Credit'' and inserting ``Export Competitiveness''; and
       (B) in paragraph (1), by striking ``Tied Aid Credit'' and 
     inserting ``Export Competitiveness'';
       (10) in subsection (d), by striking ``tied aid credit'' and 
     inserting ``export competitiveness''; and
       (11) in subsection (g)(2)(C), by striking ``Tied Aid 
     Credit'' and inserting ``Export Competitiveness''.

     SEC. 12. ANNUAL COMPETITIVENESS REPORT.

       (a) Timing.--
       (1) In general.--Section 2(b)(1)(A) of the Export-Import 
     Bank Act of 1945 (12 U.S.C. 635(b)(1)(A)) is amended in the 
     4th sentence by striking ``on an annual basis'' and inserting 
     ``on June 30 of each year''.
       (2) Applicability.--The amendment made by paragraph (1) 
     shall apply to reports for calendar years after calendar year 
     2000.
       (b) Additional Matters To Be Addressed.--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 volume of financing provided by 
     each foreign export credit agency, and a description of all 
     Bank transactions which shall be classified according to 
     their principal purpose, such as to correct a market failure 
     or to provide matching support.''.
       (c) Number of Small Business Suppliers of Bank Users.--
     Section 2(b)(1)(A) of such Act (12 U.S.C. 635(b)(1)(A)) is 
     further amended by adding at the end the following: ``The 
     Bank shall estimate on the basis of an annual survey or 
     tabulation the number of entities that are suppliers of users 
     of the Bank and that are small business concerns (as defined 
     under section 3 of the Small Business Act) located in the 
     United States, and shall include the estimate in the annual 
     report.''.
       (d) Outreach to Businesses Owned by Socially Disadvantaged 
     Individuals or by Women.--Section 2(b)(1)(A) of such Act (12 
     U.S.C. 635(b)(1)(A)) is further amended by adding at the end 
     the following: ``The Bank shall include in the annual report 
     a description of outreach efforts made by the Bank to any 
     business not less than 51 percent of which is directly and 
     unconditionally owned by 1 or more socially disadvantaged 
     individuals (as defined in section 8(a)(5) of the Small 
     Business Act) or women, and any data on the results of such 
     efforts.''.

     SEC. 13. RENEWABLE ENERGY SOURCES.

       (a) Promotion.--Section 2(b)(1) of the Export-Import Bank 
     Act of 1945 (12 U.S.C. 635(b)(1)), as amended by section 8(b) 
     of this Act, is amended by adding at the end the following:
       ``(K) The Bank shall promote the export of goods and 
     services related to renewable energy sources.''.
       (b) Description of Efforts to be Included in Annual 
     Competitiveness Report.--Section 2(b)(1)(A) of such Act (12 
     U.S.C. 635(b)(1)(A)) is further amended by adding at the end 
     the following: ``The Bank shall include in the annual report 
     a description of the efforts undertaken under subparagraph 
     (K).''.

     SEC. 14. GAO REPORTS.

       (a) Potential of WTO To Remedy Untied Aid and Market 
     Windows.--Within 1 year after the date of the enactment of 
     this Act, the Comptroller General 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 examines--
       (1) whether a case could be brought by the United States in 
     the World Trade Organization seeking relief against untied 
     aid and market windows, and if so, the kinds of relief that 
     would be available if the United States were to prevail in 
     such a case; and
       (2) the scope of penalty tariffs that the United States 
     could impose against imports from a country that uses untied 
     aid or market windows.
       (b) Comparative Reserve Practices of Export Credit Agencies 
     and Private Banks.--Within 1 year after the date of the 
     enactment of this Act, the Comptroller General 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 
     examines the reserve ratios of the Export-Import Bank of the 
     United States as compared with the reserve practices of 
     private banks and foreign export credit agencies.

     SEC. 15. HUMAN RIGHTS.

       Section 2(b)(1)(B) of the Export-Import Bank Act of 1945 
     (12 U.S.C. 635(b)(1)(B)) is amended by inserting ``(as 
     provided in the Universal Declaration of Human Rights adopted 
     by the United Nations General Assembly on December 10, 
     1948)'' after ``human rights''.

     SEC. 16. STEEL.

       (a) Reevaluation.--The Export-Import Bank of the United 
     States shall re-assess the effects of the approval by the 
     Bank of an $18,000,000 medium-term guarantee to support the 
     sale of computer software, control systems, and main drive 
     power supplies to Benxi Iron & Steel Company, in Benxi, 
     Liaoning, China, for the purpose of evaluating whether the 
     adverse impact test of the Bank sufficiently takes account of 
     the interests of United States industries.
       (b) Report to the Congress.--Within 1 year after the date 
     of the enactment of this Act, 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 on 
     the re-assessment required by subsection (a).

     SEC. 17. CORRECTION OF REFERENCES.

       (a) Section 2(b)(1)(B) of the Export-Import Bank Act of 
     1945 (12 U.S.C. 635(b)(1)(B)) is amended by striking 
     ``Banking and''.

[[Page S4184]]

       (b) Each of the following provisions of the Export-Import 
     Bank Act of 1945 is amended by striking ``Banking, Finance 
     and Urban Affairs'' and inserting ``Financial Services'':
       (1) Section 2(b)(6)(D)(i)(III) (12 U.S.C. 
     635(b)(6)(D)(i)(III)).
       (2) Section 2(b)(6)(H) (12 U.S.C. 635(b)(6)(H)).
       (3) Section 2(b)(6)(I)(i)(II) (12 U.S.C. 
     635(b)(6)(I)(i)(II)).
       (4) Section 2(b)(6)(I)(iiii) (12 U.S.C. 635(b)(6)(I)(iii)).
       (5) Section 10(g)(1) (12 U.S.C. 635i-3(g)(1)).

     SEC. 18. AUTHORITY TO DENY APPLICATION FOR ASSISTANCE BASED 
                   ON FRAUD OR CORRUPTION BY THE APPLICANT.

       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) Authority to Deny Application for Assistance Based on 
     Fraud or Corruption by Party to the Transaction.--In addition 
     to any other authority of the Bank, the Bank may deny an 
     application for assistance with respect to a transaction if 
     the Bank has substantial credible evidence that any party to 
     the transaction has committed an act of fraud or corruption 
     in connection with a transaction involving a good or service 
     that is the same as, or substantially similar to, a good or 
     service the export of which is the subject of the 
     application.''.

     SEC. 19. CONSIDERATION OF FOREIGN COUNTRY HELPFULNESS IN 
                   EFFORTS TO ERADICATE TERRORISM.

       Section 2(b)(1) of the Export-Import Bank Act of 1945 (12 
     U.S.C. 635(b)(1)) is further amended by adding at the end the 
     following:
       ``(L) It is further the policy of the United States that, 
     in considering whether to guarantee, insure, or extend 
     credit, or participate in the extension of credit in 
     connection with the purchase of any product, technical data, 
     or information by a national or agency of any nation, the 
     Bank shall take into account the extent to which the nation 
     has been helpful or unhelpful in efforts to eradicate 
     terrorism. The Bank shall consult with the Department of 
     State to determine the degreee to which each relevant nation 
     has been helpful or unhelpful in efforts to eradicate 
     terrorism.''.

     SEC. 20. OUTSTANDING ORDERS AND PRELIMINARY INJURY 
                   DETERMINATIONS.

       Section 2(e) of the Export-Import Bank Act of 1945 (12 
     U.S.C. 635(e)) is amended--
       (1) in paragraph (2), by striking ``Paragraph (1)'' and 
     inserting ``Paragraphs (1) and (2)''; and
       (2) by redesignating paragraphs (2) and (3) as paragraphs 
     (3) and (4) and by inserting after paragraph (1) the 
     following:
       ``(2) Outstanding orders and preliminary injury 
     determinations.--
       ``(A) Orders.--The Bank shall not provide any loan or 
     guarantee to an entity for the resulting production of 
     substantially the same product that is the subject of--
       ``(i) a countervailing duty or antidumping order under 
     title VII of the Tariff Act of 1930; or
       ``(ii) a determination under title II of the Trade Act of 
     1974.
       ``(B) Affirmative determination.--Within 60 days after the 
     date of the enactment of this Act, the Bank shall establish 
     procedures regarding loans or guarantees provided to any 
     entity that is subject to a preliminary determination of a 
     reasonable indication of material injury to an industry under 
     title VII of the Tariff Act of 1930. The procedures shall 
     help to ensure that these loans and guarantees are likely to 
     not result in a significant increase in imports of 
     substantially the same product covered by the preliminary 
     determination and are likely to not have a significant 
     adverse impact on the domestic industry. The Bank shall 
     report to the Committee on Financial Services of the House of 
     Representatives and the Committee on Banking, Housing, and 
     Urban Affairs of the Senate on the implementation of these 
     procedures.
       ``(C) Comment period.--The Bank shall establish procedures 
     under which the Bank shall notify interested parties and 
     provide a comment period with regard to loans or guarantees 
     reviewed pursuant to subparagraph (B).''.

     SEC. 21. SENSE OF THE CONGRESS RELATING TO RENEWABLE ENERGY 
                   TARGETS.

       (a) Allocation of Assistance Among Energy Projects.--It is 
     the sense of the Congress that, of the total amount available 
     to the Export-Import Bank of the United States for the 
     extension of credit for transactions related to energy 
     projects, the Bank should, not later than the beginning of 
     fiscal year 2006, use--
       (1) not more than 95 percent for transactions related to 
     fossil fuel projects; and
       (2) not less than 5 percent for transactions related to 
     renewable energy and energy efficiency projects.
       (b) Definition of Renewable Energy.--In this section, the 
     term ``renewable energy'' means projects related to solar, 
     wind, biomass, fuel cell, landfill gas, or geothermal energy 
     sources.

     SEC. 22. REQUIREMENT THAT APPLICANTS FOR ASSISTANCE DISCLOSE 
                   WHETHER THEY HAVE VIOLATED THE FOREIGN CORRUPT 
                   PRACTICES ACT; MAINTENANCE OF LIST OF 
                   VIOLATORS.

       Section 2(b)(1) of the Export-Import Bank Act of 1945 (12 
     U.S.C. 635(b)(1)) is further amended by adding at the end the 
     following:
       ``(M) The Bank shall require an applicant for assistance 
     from the Bank to disclose whether the applicant has been 
     found by a court of the United States to have violated the 
     Foreign Corrupt Practices Act, and shall maintain a list of 
     persons so found to have violated such Act.''.

     SEC. 23. SENSE OF THE CONGRESS.

       It is the sense of the Congress that, when considering a 
     proposal for assistance for a project that is worth 
     $10,000,000 or more, the management of the Export-Import Bank 
     of the United States should have available for review a 
     detailed assessment of the potential human rights impact of 
     the proposed project.

  Mr. REID. Mr. President, I ask unanimous consent that the Senate 
disagree to the House amendment, agree to the request for a conference 
on the disagreeing votes of the two Houses, and that the Chair be 
authorized to appoint conferees on the part of the Senate, without 
intervening action or debate.
  The PRESIDING OFFICER. Without objection, it is so ordered.
  The PRESIDING OFFICER (Mr. Wellstone) appointed Mr. Sarbanes, Mr. 
Dodd, Mr. Johnson, Mr. Bayh, Mr. Gramm, Mr. Shelby, and Mr. Hagel 
conferees on the part of the Senate.

                          ____________________