END OF AN ERA Act

Summary: Entering Negotiations to Dissolve Outdated Financial Agencies Nationalizing Export Related Activities or the END OF AN ERA Act This bill directs the Department of the Treasury to seek to enter into negotiations with other countries for the mutual elimination of government-backed export credit agencies. Treasury shall submit: (1) annual reports on progress made in arranging such negotiations, on progress made in any such negotiations, and on whether eliminating the Export-Import Bank of the United States at the time of the report would put the United States at a competitive disadvantage; and (2) a certification of any determination that the Bank can be eliminated in a way that would not put the United States at a competitive disadvantage, considering job losses and a decrease in economic activity. After such a determination is submitted, the Bank may not accept an application for, or enter into a contract that would obligate the Bank to provide, a loan, insurance, or a guarantee or to participate in an extension of credit by another entity.  The Bank shall be abolished 180 days after Treasury submits such a certification and its functions transferred to Treasury. All such transferred functions shall terminate on the date all obligations of the Bank, and all obligations of others to the Bank, in effect immediately before the abolishment date have been satisfied. The bill repeals the Export-Import Bank Act of 1945 and eliminates related authorizing provisions of various statutes.

AND TERMINATION OF BANK FUNCTIONS.

    (a) Resolution of Functions.--The Secretary shall--
            (1) complete the disposition and resolution of functions of 
        the Bank in accordance with this Act; and
            (2) resolve all functions that are transferred to the 
        Secretary under section 6(a)(2).
    (b) Termination of Functions.--All functions that are transferred 
to the Secretary under section 6(a)(2) shall terminate on the date all 
obligations of the Bank, and all obligations of others to the Bank, in 
effect immediately before the abolishment date have been satisfied, as 
determined by the Secretary.
    (c) Report to the Congress.--When the Secretary makes the 
determination described in subsection (b) of this section, the 
Secretary shall report the determination to the Committees referred to 
in section 3(b).

SEC. 8. DUTIES OF THE SECRETARY OF THE TREASURY.

    (a) In General.--The Secretary shall be responsible for the 
implementation of this Act, including--
            (1) the administration and dissolution of all functions 
        transferred to the Secretary under section 6(a)(2);
            (2) the administration and dissolution of any outstanding 
        obligations of the Federal Government under any programs 
        terminated by this Act; and
            (3) taking such other actions as may be necessary to 
        dissolve any outstanding affairs of the Bank.
    (b) Delegation of Functions.--The Secretary may take such actions 
as may be necessary to wind up and dissolve all functions transferred 
to the Secretary under section 6(a)(2).
    (c) Rule of Interpretation.--Nothing in this Act may be construed 
to authorize positions and functions of the Bank after 60 days of 
abolishment.

SEC. 9. CONFORMING AMENDMENTS AND REPEALS.

    (a) Repeal of Primary Authorizing Statute.--The Export-Import Bank 
Act of 1945 (12 U.S.C. 635-635i-9) is hereby repealed.
    (b) Elimination of Related Authorizing Provisions.--
            (1) Section 103 of the International Development and 
        Finance Act of 1989 (12 U.S.C. 635 note; Public Law 101-240) is 
        hereby repealed.
            (2) Section 303 of the Support for East European Democracy 
        (SEED) Act of 1989 (12 U.S.C. 635 note; Public Law 101-179) is 
        hereby repealed.
            (3) Section 1908 of the Export-Import Bank Act Amendments 
        of 1978 (12 U.S.C. 635a-1) is amended--
                    (A) by striking ``(a)''; and
                    (B) by striking subsection (b).
            (4) Sections 1911 and 1912 of the Export-Import Bank Act 
        Amendments of 1978 (12 U.S.C. 635a-2 and 635a-3) are hereby 
        repealed.
            (5) Section 206 of the Bank Export Services Act (12 U.S.C. 
        635a-4) is hereby repealed.
            (6) Sections 1 through 5 of Public Law 90-390 (12 U.S.C. 
        635j through 635n) are hereby repealed.
            (7) Sections 641 through 647 of the Trade and Development 
        Enhancement Act of 1983 (12 U.S.C. 635o-635t) are hereby 
        repealed.
            (8) Section 534 of the Foreign Operations, Export 
        Financing, and Related Programs Appropriations Act, 1990 (12 
        U.S.C. 635g note; Public Law 101-167) is amended by striking 
        subsection (d).
            (9) Section 3302 of the Omnibus Trade and Competitiveness 
        Act of 1988 (12 U.S.C. 635i-3 note; Public Law 100-418) is 
        amended by striking subsection (a).
            (10) Section 1105(a) of title 31, United States Code, is 
        amended by striking paragraph (34) and redesignating the 
        succeeding paragraphs of such section as paragraphs (34) 
        through (38), respectively.
            (11) Section 9101(3) of title 31, United States Code, is 
        amended by striking subparagraph (C).
    (c) Elimination of Related Compensation Provisions.--
            (1) Position at level iii.--Section 5314 of title 5, United 
        States Code, is amended by striking the following item:
    ``President of the Export-Import Bank of Washington.''.
            (2) Positions at level iv.--Section 5315 of title 5, United 
        States Code, is amended--
                    (A) by striking the following item:
    ``First Vice President of the Export-Import Bank of Washington.''; 
and
                    (B) by striking the following item:
    ``Members, Board of Directors of the Export-Import Bank of 
Washington.''.
    (d) Elimination of Office of Inspector General for the Bank.--
Section 12 of the Inspector General Act of 1978 (5 U.S.C. App.) is 
amended--
            (1) in paragraph (1), by striking ``the President of the 
        Export-Import Bank;''; and
            (2) in paragraph (2), by striking ``the Export-Import 
        Bank,''.
    (e) Effective Date.--The repeals and amendments made by this 
section shall take effect on the abolishment date.
    (f) Report to the Congress on Other Amendments to Federal 
Statute.--The Secretary shall submit to the relevant Committees a 
written report that contains suggestions for such other amendments to 
Federal statutes as may be necessary or appropriate as a result of this 
Act.

SEC. 10. REFERENCES.

    Any reference in any other Federal law, executive order, rule, 
regulation, or delegation of authority, or any document of or 
pertaining to a department or office from which a function is 
transferred by this Act--
            (1) to the head of such department or office is deemed to 
        refer to the head of the department or office to which the 
        function is transferred; or
            (2) to such department or office is deemed to refer to the 
        department or office to which the function is transferred.

SEC. 11. DEFINITIONS.

    In this Act:
            (1) Function.--The term ``function'' includes any duty, 
        obligation, power, authority, responsibility, right, privilege, 
        activity, or program.
            (2) Office.--The term ``office'' includes any office, 
        administration, agency, bureau, institute, council, unit, 
        organizational entity, or component thereof.