Export-Import Bank Reauthorization Act of 2014

Summary: Export-Import Bank Reauthorization Act of 2014 - Amends the Export-Import Bank Act of 1945 to reauthorize the Export-Import Bank of the United States through FY2019. Extends, for FY2015-FY2019, the Bank's authority to use a specified amount of its surplus for information technology system updates. Extends, through FY2019, the termination date of the sub-Saharan Africa advisory committee. Prescribes limitations on outstanding Bank loans, guarantees, and insurance for FY2015-FY2018 and each fiscal year thereafter. Extends, through FY2019, Bank authority to provide financing for the export of nonlethal defense articles and defense services whose primary end use is for civilian purposes. Directs the Bank to submit to Congress and the Comptroller General (GAO) a business plan that includes an estimate of the Bank's appropriate exposure limits for FY2015-FY2019. Directs GAO to study the Bank's medium-term financing programs.

SECTION 1. SHORT TITLE; TABLE OF CONTENTS.

    (a) Short Title.--This Act may be cited as the ``Export-Import Bank 
Reauthorization Act of 2014''.
    (b) Table of Contents.--The table of contents for this Act is as 
follows:

Sec. 1. Short title; table of contents.
Sec. 2. Extension of authority.
Sec. 3. Information technology systems.
Sec. 4. Sub-Saharan Africa advisory committee.
Sec. 5. Limitations on loans, guarantees, and insurance.
Sec. 6. Dual-use exports.
Sec. 7. Exposure limit business plan.
Sec. 8. Government Accountability Office study on medium-term financing 
                            programs.

SEC. 2. EXTENSION OF AUTHORITY.

    Section 7 of the Export-Import Bank Act of 1945 (12 U.S.C. 635f) is 
amended by striking ``2014'' and inserting ``2019''.

SEC. 3. INFORMATION TECHNOLOGY SYSTEMS.

    Section 3(j) of the Export-Import Bank Act of 1945 (12 U.S.C 
635a(j)) is amended by striking ``2012, 2013, and 2014'' each place it 
appears and inserting ``2015, 2016, 2017, 2018, and 2019''.

SEC. 4. 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 by striking ``2014'' and inserting 
``2019''.

SEC. 5. LIMITATIONS ON LOANS, GUARANTEES, AND INSURANCE.

    Section 6(a)(2) of the Export-Import Bank Act of 1945 (12 U.S.C. 
635e(a)(2)) is amended--
            (1) by striking subparagraphs (A) through (E);
            (2) by redesignating subparagraph (F) as subparagraph (A);
            (3) in subparagraph (A), as redesignated by paragraph (2)--
                    (A) in the matter preceding clause (i), by striking 
                ``fiscal year 2012 and each succeeding fiscal year'' 
                and inserting ``fiscal years 2012, 2013, and 2014''; 
                and
                    (B) in clause (ii)(III), by striking the period at 
                the end and inserting ``; and''; and
            (4) by adding at the end the following:
                    ``(B) during fiscal year 2015 and each fiscal year 
                thereafter, $145,000,000,000, except that--
                            ``(i) the applicable amount for fiscal year 
                        2016 shall be $150,000,000,000 if--
                                    ``(I) the Bank submitted the report 
                                required by section 7(a) of the Export-
                                Import Bank Reauthorization Act of 
                                2014;
                                    ``(II) the Secretary of the 
                                Treasury submitted the report required 
                                to be submitted during the preceding 
                                fiscal year under section 11(b) of the 
                                Export-Import Bank Reauthorization Act 
                                of 2012 (12 U.S.C. 635a-5(b)); and
                                    ``(III) the rate calculated under 
                                section 8(g)(1) of this Act is less 
                                than 2 percent for the quarter ending 
                                with the beginning of the fiscal year, 
                                or for any quarter in the fiscal year; 
                                and
                            ``(ii) the applicable amount for fiscal 
                        year 2017 shall be $155,000,000,000, and the 
                        applicable amount for fiscal year 2018 and each 
                        fiscal year thereafter shall be 
                        $160,000,000,000, if--
                                    ``(I) the Secretary of the Treasury 
                                submitted the report required to be 
                                submitted during the preceding fiscal 
                                year under section 11(b) of the Export-
                                Import Bank Reauthorization Act of 2012 
                                (12 U.S.C. 635a-5(b)); and
                                    ``(II) the rate calculated under 
                                section 8(g)(1) of this Act is less 
                                than 2 percent for the quarter ending 
                                with the beginning of the fiscal year, 
                                or for any quarter in the fiscal 
                                year.''.

SEC. 6. DUAL-USE EXPORTS.

    Section 1(c) of Public Law 103-428 (12 U.S.C. 635 note) is amended 
by striking ``2014'' and inserting ``2019''.

SEC. 7. EXPOSURE LIMIT BUSINESS PLAN.

    (a) In General.--Not later than 180 days after the date of the 
enactment of this Act, the Export-Import Bank of the United States 
shall submit to Congress and the Comptroller General of the United 
States a report that contains the following:
            (1) A business plan that includes--
                    (A) an estimate by the Bank of the appropriate 
                exposure limits of the Bank for fiscal years 2015 
                through 2019;
                    (B) a justification for the estimate; and
                    (C) an estimate of any anticipated growth of the 
                Bank during fiscal years 2015 through 2019, 
                disaggregated by--
                            (i) industry sector;
                            (ii) whether the products involved are 
                        short-term loans, medium-term loans, long-term 
                        loans, insurance, medium-term guarantees, or 
                        long-term guarantees; and
                            (iii) key market.
            (2) An analysis of the potential for increased or decreased 
        risk of loss to the Bank as a result of the estimated exposure 
        limit, including an analysis of increased or decreased risks 
        associated with changes in the composition of Bank exposure, 
        disaggregated by industry sector, product offered, and key 
        market.
            (3) An analysis of the ability of the Bank to meet its 
        mandates with respect to small business and sub-Saharan Africa 
        and comply with its carbon policy mandate under the proposed 
        exposure limit, and an analysis of any increased or decreased 
        risk of loss associated with meeting or complying with the 
        mandates under the proposed exposure limit.
            (4) An analysis of the adequacy of the resources of the 
        Bank to effectively process, approve, and monitor 
        authorizations, including the conducting of required economic 
        impact analyses, under the proposed exposure limit.
    (b) Review of Report and Business Plan by Government Accountability 
Office.--Not later than 180 days after receiving the report and 
business plan submitted under subsection (a), the Comptroller General 
of the United States shall submit to Congress a report analyzing the 
report and business plan. The report of the Comptroller General shall 
include such recommendations with respect to the report and business 
plan as the Comptroller General considers appropriate.

SEC. 8. GOVERNMENT ACCOUNTABILITY OFFICE STUDY ON MEDIUM-TERM FINANCING 
              PROGRAMS.

    (a) Study.--The Comptroller General of the United States shall 
conduct a study of the medium-term financing programs of the Export-
Import Bank of the United States--
            (1) to identify practices that may pose risks to the 
        taxpayer, the soundness of such programs, or compliance with 
        Bank policies;
            (2) to identify practices that may limit the use of such 
        programs by businesses qualified for such programs; and
            (3) to assess any steps the Bank has taken to address 
        practices identified under paragraph (1) or (2).
    (b) Consideration of Past Findings.--In conducting the study 
required by subsection (a), the Comptroller General shall consider past 
findings by the Inspector General of the Export-Import Bank of the 
United States on the matters covered by the study.
    (c) Report.--Not later than one year after the date of the 
enactment of this Act, the Comptroller General shall submit to the 
Committee on Banking, Housing, and Urban Affairs of the Senate and the 
Committee on Financial Services of the House of Representatives a 
report on the results of the study required by subsection (a). The 
report shall include such recommendations for additional action as the 
Comptroller General considers appropriate.