Export-Import Bank Reauthorization Act of 1997

SECTION 1. SHORT TITLE; TABLE OF CONTENTS.

    (a) Short Title.--This Act may be cited as the ``Export-Import Bank 
Reauthorization Act of 1997''.
    (b) Table of Contents.--
Sec. 1. Short title; table of contents.
Sec. 2. Extension of authority.
Sec. 3. Tied aid credit fund authority.
Sec. 4. 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.
Sec. 5. Clarification of procedures for denying credit based on the 
          national interest.
Sec. 6. Administrative Counsel.
Sec. 7. Advisory Committee for sub-Saharan Africa.
Sec. 8. Increase in labor representation on the Advisory Committee of 
          the Export-Import Bank.
Sec. 9. Outreach to companies.
Sec. 10. Clarification of the objectives of the Export-Import Bank.
Sec. 11. Including child labor as a criterion for denying credit based 
          on the national interest.
Sec. 12. Prohibition relating to Russian transfers of certain missiles 
          to the People's Republic of China.

SEC. 2. EXTENSION OF AUTHORITY.

    (a) In General.--Section 7 of the Export-Import Bank Act of 1945 
(12 U.S.C. 635f) is amended by striking ``until'' and all that follows 
through ``but'' and inserting ``until the close of business on 
September 30, 2001, but''.
    (b) Effective Date.--The amendment made by this section shall take 
effect on September 30, 1997.

SEC. 3. TIED AID CREDIT FUND AUTHORITY.

    (a) Expenditures From Fund.--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'' and all that follows through ``1997''.
    (b) Authorization.--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. 4. 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. 5. 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. 6. 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 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. 7. 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 enactment of this subparagraph.''.
    (b) Reports to Congress.--Within 6 months after the date of 
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 
shall submit to 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. 8. 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 at the end the following:
        ``(B) Not less than 2 members appointed to the Advisory 
    Committee shall be representative of the labor community, except 
    that no 2 representatives of the labor community shall be selected 
    from the same labor union.''.

SEC. 9. 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 President of the Bank shall undertake efforts to enhance 
the Bank's capacity to provide information about the Bank's programs to 
small and rural companies which have not previously participated in the 
Bank's programs. Not later than 1 year after the date of enactment of 
this subparagraph, the President of the Bank shall submit to Congress a 
report on the activities undertaken pursuant to this subparagraph.''.
SEC. 10. CLARIFICATION OF THE OBJECTIVES OF THE EXPORT-IMPORT BANK.
    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 first sentence by striking ``real 
income'' and all that follows to the end period and inserting: ``real 
income, a commitment to reinvestment and job creation, and the 
increased development of the productive resources of the United 
States''.
SEC. 11. INCLUDING CHILD LABOR AS A CRITERION 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)), as amended by section 5, is amended in the next to the 
last sentence by inserting ``(including child labor)'' after ``human 
rights''.
SEC. 12. PROHIBITION RELATING TO RUSSIAN TRANSFERS OF CERTAIN MISSILES 
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 relating to russian transfers of certain 
    missile systems.--If the President of the United States determines 
    that the military or Government of the Russian Federation has 
    transferred or delivered to the People's Republic of China an SS-N-
    22 missile system and that the transfer or delivery represents a 
    significant and imminent threat to the security of the United 
    States, the President of the United States shall notify the Bank of 
    the transfer or delivery as soon as practicable. Upon receipt of 
    the notice and if so directed by the President of the United 
    States, the Board of Directors of the Bank shall not give approval 
    to guarantee, insure, extend credit, or participate in the 
    extension of credit in connection with the purchase of any good or 
    service by the military or Government of the Russian Federation.''.

                               Speaker of the House of Representatives.

                            Vice President of the United States and    
                                               President of the Senate.

Summary: Export-Import Bank Reauthorization Act of 1997 - Amends the Export-Import Bank Act of 1945 to extend the authority of the Export-Import Bank of the United States through FY 2001. Reauthorizes the Bank's tied aid credit program. Extends from FY 1997 through 2001 Bank authority to provide financing for the export of nonlethal defense articles or services whose primary end use will be for civilian purposes. Revises Bank procedures governing the denial of the extension of credit to foreign countries based on the national interest to: (1) require the President to consult with specified congressional committees before determining that such a denial is in the US national interest. And (2) require written notification to the President of the Bank of such determination, including the applications or categories of applications for credit which should be denied. Directs the General Counsel of the Bank to designate an attorney to serve as Assistant General Counsel for Administration, whose duties shall include oversight of and advice to Bank directors, officers, and employees on personnel and other administrative law matters. Requires the Board of Directors of the Bank to: (1) take prompt measures to promote the expansion of its loan, guarantee, and insurance programs in sub-Saharan Africa. (2) establish an advisory committee to advise it on the implementation of policies and programs to support such expansion. And (3) report annually to the Congress on steps it has taken to implement such policies and programs and any advisory committee recommendations. Revises the composition of the Advisory Committee of the Bank to include the appointment of not fewer than two members from the labor community. Directs the President of the Bank to: (1) enhance the Bank's capacity to provide information about its programs to small and rural companies which have not previously participated in them. And (2) report to the Congress on such activities within one year of enactment of this Act. Includes child labor as a human rights criterion that could serve as the basis for a presidential determination that an application for Bank credit should be denied for nonfinancial or noncommercial considerations. Requires the President, if the Russian military or Government has transferred an SS-N-22 missile system to China and such transfer represents a threat to US security, to notify the Bank as soon as practicable. Directs the Bank Board of Directors to deny any guarantee, insurance, or extension of credit in connection with purchases of Russian goods or services if so directed by the President.