IIB 

116TH CONGRESS 

1ST SESSION H. R. 4863 

IN THE SENATE OF THE UNITED STATES 

NOVEMBER 18, 2019 

Received; read twice and referred to the Committee on Banking, Housing, and 

Urban Affairs 

AN ACT 

To promote the competitiveness of the United States, to 

reform and reauthorize the United States Export Finance Agency, and for other purposes. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 


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1 SECTION 1. SHORT TITLE. 

2 This Act may be cited as the ‘‘United States Export 

3 Finance Agency Act of 2019’’. 

4 SEC. 2. TABLE OF CONTENTS. 

5 The table of contents of this Act is as follows: 

Sec. 1. Short title. 

Sec. 2. Table of contents. 

Sec. 3. Renaming of the Export-Import Bank of the United States. 

Sec. 4. Authorization period. 

Sec. 5. Aggregate loan, guarantee, and insurance authority. 

Sec. 6. Office of Minority and Women Inclusion. 

Sec. 7. Support for United States territories. 

Sec. 8. Alternative procedures during quorum lapse. 

Sec. 9. Strengthening support for United States small businesses. 

Sec. 10. Enhancing flexibility to respond to predatory export financing by 

China. 

Sec. 11. Restriction on financing for certain entities. 

Sec. 12. Prohibitions on financing for certain persons involved in sanctionable 

activities. 

Sec. 13. Promoting renewable energy exports, environmental and social standards, and accountability. 

Sec. 14. Reinsurance program. 

Sec. 15. Information technology systems. 

Sec. 16. Administratively determined pay. 

Sec. 17. Authority of the United States Export Finance Agency to use 3 percent of its profits for administrative expenses. 

Sec. 18. GAO report on the effect of Agency closure on businesses that use 

Agency services. 

6 SEC. 3. RENAMING OF THE EXPORT-IMPORT BANK OF THE 

7 UNITED STATES. 

8 (a) IN GENERAL.—The Export-Import Bank of the 

9 United States is hereby redesignated as the United States 

10 Export Finance Agency. 

11 (b) REFERENCES.—Any reference to the Export-Im12 port Bank of the United States in any law, rule, regula13 tion, certificate, directive, instruction, or other official 

14 paper in force on the date of the enactment of this Act 


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1 is deemed a reference to the United States Export Finance 

2 Agency. 

3 SEC. 4. AUTHORIZATION PERIOD. 

4 Section 7 of the Export-Import Bank Act of 1945 

5 (12 U.S.C. 635f) is amended by striking ‘‘2019’’ and in6 serting ‘‘2029’’. 

7 SEC. 5. AGGREGATE LOAN, GUARANTEE, AND INSURANCE 

8 AUTHORITY. 

9 Section 6(a)(2) of the Export-Import Bank Act of 

10 1945 (12 U.S.C. 635e(a)(2)) is amended to read as fol11 lows: 

12 ‘‘(2) APPLICABLE AMOUNT DEFINED.—In this 

13 subsection, the term ‘applicable amount’ means— 

14 ‘‘(A) $145,000,000,000 for fiscal year 

15 2020; 

16 ‘‘(B) $150,000,000,000 for fiscal year 

17 2021; 

18 ‘‘(C) $155,000,000,000 for fiscal year 

19 2022; 

20 ‘‘(D) $160,000,000,000 for fiscal year 

21 2023; 

22 ‘‘(E) $165,000,000,000 for fiscal year 

23 2024; 

24 ‘‘(F) $170,000,000,000 for fiscal year 

25 2025; and 


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1 ‘‘(G) $175,000,000,000 for each of fiscal 

2 years 2026 through 2029.’’. 

3 SEC. 6. OFFICE OF MINORITY AND WOMEN INCLUSION. 

4 (a) IN GENERAL.—Section 3(i) of the Export-Import 

5 Bank Act of 1945 (12 U.S.C. 635a(i)) is amended to read 

6 as follows: 

7 ‘‘(i) OFFICE OF MINORITY AND WOMEN INCLU8 SION.— 

9 ‘‘(1) ESTABLISHMENT.—The Agency shall es10 tablish an Office of Minority and Women Inclusion 

11 which shall be responsible for carrying out this sub12 section and all matters relating to diversity in man13 agement, employment, and business activities in ac14 cordance with such standards and requirements as 

15 the Director of the Office shall establish. 

16 ‘‘(2) TRANSFER OF RESPONSIBILITIES.—The 

17 Agency shall ensure that, to the extent that the re18 sponsibilities described in paragraph (1) (or com19 parable responsibilities) were, as of the date of the 

20 enactment of this subsection, performed by another 

21 office of the Agency, the responsibilities shall be 

22 transferred to the Office. 

23 ‘‘(3) DUTIES WITH RESPECT TO CIVIL RIGHTS

24 LAWS.—The responsibilities described in paragraph 

25 (1) shall not include enforcement of statutes, regulaVerDate Sep 11 2014 00:41 Nov 19, 2019 Jkt 099200 PO 00000 Frm 00004 Fmt 6652 Sfmt 6201 E:\BILLS\H4863.RFS H4863

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1 tions, or executive orders pertaining to civil rights, 

2 except that the Director of the Office shall coordi3 nate with the President of the Agency, or the des4 ignee of the President of the Agency, regarding the 

5 design and implementation of any remedies resulting 

6 from violations of the statutes, regulations, or execu7 tive orders. 

8 ‘‘(4) TRAINING.—The Agency shall make avail9 able to its employees appropriate inclusion and di10 versity training, not less frequently than every 2 

11 years, to ensure employees have an understanding of 

12 the specific challenges facing minority- and women13 owned businesses. 

14 ‘‘(5) DIRECTOR.— 

15 ‘‘(A) IN GENERAL.—The Director of the 

16 Office shall be appointed by, and shall report 

17 directly to, the President of the Agency. The 

18 position of Director of the Office shall be a ca19 reer reserved position in the Senior Executive 

20 Service, as that position is defined in section 

21 3132 of title 5, United States Code, or an 

22 equivalent designation. 

23 ‘‘(B) DUTIES.—The Director shall— 

24 ‘‘(i) develop standards for equal em25 ployment opportunity and diversity in race, 


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1 ethnicity, gender, sexual orientation, and 

2 gender identity of the workforce and senior 

3 management of the Agency; 

4 ‘‘(ii) develop standards for increased 

5 participation of minority-owned and 

6 women-owned businesses in the programs 

7 and contracts of the Agency, including 

8 standards for coordinating technical assist9 ance to the businesses; and 

10 ‘‘(iii) enhance the outreach activities 

11 of the Agency with respect to, and increase 

12 the total amount of loans, guarantees, and 

13 insurance provided by the Agency to sup14 port exports by socially and economically 

15 disadvantaged small business concerns (as 

16 defined in section 8(a)(4) of the Small 

17 Business Act) and small business concerns 

18 owned by women. 

19 ‘‘(C) OTHER DUTIES.—The Director shall 

20 advise the President of the Agency on the im21 pact of the policies of the Agency on minority22 owned and women-owned businesses. 

23 ‘‘(6) INCLUSION IN ALL LEVELS OF BUSINESS

24 ACTIVITIES.— 


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1 ‘‘(A) CONTRACTS.—The Director of the 

2 Office shall develop and implement standards 

3 and procedures to ensure, to the maximum ex4 tent possible, the inclusion and utilization of 

5 minorities (as defined in section 1204(c) of the 

6 Financial Institutions Reform, Recovery, and 

7 Enforcement Act of 1989 (12 U.S.C. 1811 

8 note), which definition is deemed, for purposes 

9 of this subparagraph, to include American Indi10 ans, Native Hawaiians (as defined in section 

11 103 of the Native American Languages Act (25 

12 U.S.C. 2902)), and Alaska Natives (defined as 

13 a member of any Indian tribe (as defined in 

14 section 4 of the Indian Self-Determination and 

15 Education Assistance Act (25 U.S.C. 5304)) 

16 that is based in the State of Alaska)) and 

17 women, and minority- and women-owned busi18 nesses (as such terms are defined in section 

19 21A(r)(4) of the Federal Home Loan Bank Act 

20 (12 U.S.C. 1441a(r)(4)) in all business and ac21 tivities of the Agency at all levels, including in 

22 procurement, insurance, and all types of con23 tracts. The processes established by the Agency 

24 for review and evaluation for contract proposals 

25 and to hire service providers shall include a 


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1 component that gives consideration to the diver2 sity of the applicant. 

3 ‘‘(B) APPLICABILITY.—This paragraph 

4 shall apply to all contracts for services of any 

5 kind, including all contracts for all business and 

6 activities of the Agency, at all levels. 

7 ‘‘(C) OUTREACH.—The Agency shall estab8 lish a minority outreach program to ensure the 

9 inclusion (to the maximum extent practicable) 

10 of contracts entered into with the enterprises of 

11 minorities and women and businesses owned by 

12 minorities and women, including financial insti13 tutions, investment banking firms, under14 writers, accountants, brokers, and providers of 

15 legal services. 

16 ‘‘(7) DIVERSITY IN AGENCY WORKFORCE.—The 

17 Agency shall take affirmative steps to seek diversity 

18 in its workforce at all levels of the Agency consistent 

19 with the demographic diversity of the United States, 

20 in a manner consistent with applicable law, includ21 ing— 

22 ‘‘(A) to the extent the Agency engages in 

23 recruitment efforts to fill vacancies— 

24 ‘‘(i) recruiting at historically Black 

25 colleges and universities, Hispanic-serving 


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1 institutions, Asian American- and Native 

2 American Pacific Islander-serving institu3 tions, Tribal colleges and universities, 

4 women’s colleges, community colleges, and 

5 colleges that typically serve majority mi6 nority populations; and 

7 ‘‘(ii) recruiting at job fairs in urban 

8 communities, and placing employment ad9 vertisements in print and digital media ori10 ented toward women and people of color; 

11 ‘‘(B) partnering with organizations that 

12 are focused on developing opportunities for mi13 norities and women to place talented young mi14 norities and women in industry internships (in15 cluding paid internships), summer employment, 

16 and full-time positions; and 

17 ‘‘(C) by use of any other mass media com18 munications that the Director of the Office de19 termines necessary.’’. 

20 (b) INCLUSION IN ANNUAL REPORT.—Section 8 of 

21 such Act (12 U.S.C. 635g) is amended by adding at the 

22 end the following: 

23 ‘‘(l) OFFICE OF MINORITY AND WOMEN INCLU24 SION.— 


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1 ‘‘(1) IN GENERAL.—The Agency shall include in 

2 its annual report to the Congress under subsection 

3 (a) a report from the Office of Minority and Women 

4 Inclusion regarding the actions taken by the Agency 

5 and the Office pursuant to section 3(i), which shall 

6 include— 

7 ‘‘(A) a statement of the total amounts paid 

8 by the Agency to contractors since the most re9 cent report under this subsection; 

10 ‘‘(B) the percentage of the amounts de11 scribed in subparagraph (A) that were paid to 

12 contractors as described in section 3(i)(5)(A); 

13 ‘‘(C) the successes achieved and challenges 

14 faced by the Agency in operating minority and 

15 women outreach programs; 

16 ‘‘(D) a description of the progress made by 

17 the Agency in supporting exports by minority18 owned small business concerns and the progress 

19 made by the Agency in supporting small busi20 ness concerns owned by women, including esti21 mates of the amounts made available to finance 

22 exports directly by both categories of small 

23 business concerns, a comparison of these 

24 amounts with the amounts made available to all 

25 small business concerns, and a comparison of 


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1 such amounts with the amounts so made avail2 able during the 2 preceding years; 

3 ‘‘(E) the challenges the Agency may face 

4 in hiring qualified minority and women employ5 ees and contracting with qualified minority6 owned and women-owned businesses; and 

7 ‘‘(F) any other information, findings, con8 clusions, and recommendations for legislative or 

9 Agency action, as the Director of the Office 

10 deems appropriate. 

11 ‘‘(2) DEFINITIONS.—In this subsection: 

12 ‘‘(A) MINORITY-OWNED SMALL BUSINESS

13 CONCERN.—The term ‘minority-owned small 

14 business concern’ has the meaning given the 

15 term ‘socially and economically disadvantaged 

16 small business concern’ under section 8(a)(4) of 

17 the Small Business Act. 

18 ‘‘(B) SMALL BUSINESS CONCERN.—The 

19 term ‘small business concern’ has the meaning 

20 given that term under section 3(a) of the Small 

21 Business Act.’’. 

22 (c) CONFORMING AMENDMENT.—Section 8(f) of the 

23 Export-Import Bank Act of 1945 (12 U.S.C. 635g(f)) is 

24 amended— 

25 (1) by striking paragraph (4); and 


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1 (2) by redesignating paragraphs (5) through 

2 (8) as paragraphs (4) through (7), respectively. 

3 (d) ADDITIONAL ADVISORY COMMITTEE MEM4 BERS.—Section 3(d) of such Act (12 U.S.C. 635a(d)) is 

5 amended— 

6 (1) in paragraph (1)— 

7 (A) in subparagraph (A), by striking ‘‘17’’ 

8 and inserting ‘‘19’’; and 

9 (B) in subparagraph (B), by inserting 

10 ‘‘higher education,’’ before ‘‘State’’; and 

11 (2) in paragraph (2), by adding at the end the 

12 following: 

13 ‘‘(D) One member appointed to the Advisory Com14 mittee shall be representative of 4-year institutions of 

15 higher education. 

16 ‘‘(E) One member appointed to the Advisory Com17 mittee shall be representative of community colleges.’’. 

18 SEC. 7. SUPPORT FOR UNITED STATES TERRITORIES. 

19 (a) CREATION OF THE OFFICE OF TERRITORIAL EX20 PORTING.—Section 3 of the Export-Import Bank Act of 

21 1945 (12 U.S.C. 635a) is amended by adding at the end 

22 the following: 

23 ‘‘(n) OFFICE OF TERRITORIAL EXPORTING.— 


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1 ‘‘(1) IN GENERAL.—The President of the Agen2 cy shall establish an Office of Territorial Exporting, 

3 the functions of which shall be to— 

4 ‘‘(A) promote the export of goods and serv5 ices from the territories; 

6 ‘‘(B) conduct outreach, education, and dis7 seminate information concerning export oppor8 tunities and the availability of Agency support 

9 for such activities; and 

10 ‘‘(C) increase the total amount of loans, 

11 guarantees, and insurance provided by the 

12 Agency benefitting the territories. 

13 ‘‘(2) STAFF.—The President of the Agency 

14 shall hire such staff as may be necessary to perform 

15 the functions of the Office, including— 

16 ‘‘(A) at least one staffer responsible for 

17 liaising with Puerto Rico and the United States 

18 Virgin Islands; and 

19 ‘‘(B) at least one staffer responsible for 

20 liaising with the United States territories of 

21 Guam, the Commonwealth of the Northern 

22 Mariana Islands, and American Samoa. 

23 ‘‘(3) DEFINITION OF TERRITORY.—In this Act, 

24 the term ‘territory’ means the Commonwealth of 

25 Puerto Rico, the United States Virgin Islands, 


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1 Guam, the Commonwealth of the Northern Mariana 

2 Islands, and American Samoa.’’. 

3 (b) ANNUAL REPORT.—Section 8 of such Act (12 

4 U.S.C. 635g), as amended by section 6(b) of this Act, is 

5 amended by adding at the end the following: 

6 ‘‘(m) REPORT ON ACTIVITIES IN THE TERRI7 TORIES.—The Agency shall include in its annual report 

8 to Congress under subsection (a) a report on the steps 

9 taken by the Agency in the period covered by the report 

10 to increase— 

11 ‘‘(1) awareness of the Agency and its services 

12 in the territories; and 

13 ‘‘(2) the provision of Agency support to export 

14 businesses in the territories. 

15 ‘‘(n) REPORT ON CONSULTATIONS WITH POTEN16 TIALLY IMPACTED COMMUNITIES.—The Agency shall in17 clude in its annual report to Congress under subsection 

18 (a) of this section a report on the steps taken by the Agen19 cy to consult with affected communities, including affected 

20 workers, pursuant to section 11(a)(2).’’. 

21 SEC. 8. ALTERNATIVE PROCEDURES DURING QUORUM 

22 LAPSE. 

23 (a) IN GENERAL.—Section 3(c)(6) of the Export-Im24 port Bank Act of 1945 (12 U.S.C. 635a(c)(6)) is amend25 ed— 


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1 (1) by inserting ‘‘(A)’’ after ‘‘(6)’’; and 

2 (2) by adding at the end the following: 

3 ‘‘(B)(i) If there is an insufficient number of directors 

4 to constitute a quorum under subparagraph (A) for 90 

5 consecutive days during the term of a President of the 

6 United States, a temporary Board, consisting of the fol7 lowing members, shall act in the stead of the Board of 

8 Directors: 

9 ‘‘(I) The United States Trade Representative. 

10 ‘‘(II) The Secretary of the Treasury. 

11 ‘‘(III) The Secretary of Commerce. 

12 ‘‘(IV) The members of the Board of Directors. 

13 ‘‘(ii) If, at a meeting of the temporary Board— 

14 ‘‘(I) a member referred to in clause (i)(IV) is 

15 present, the meeting shall be chaired by such a 

16 member, consistent with Agency bylaws; or 

17 ‘‘(II) no such member is present, the meeting 

18 shall be chaired by the United States Trade Rep19 resentative. 

20 ‘‘(iii) A member described in subclause (I), (II), or 

21 (III) of clause (i) may delegate the authority of the mem22 ber to vote on whether to authorize a transaction, whose 

23 value does not exceed $100,000,000, to— 


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1 ‘‘(I) if the member is the United States Trade 

2 Representative, the Deputy United States Trade 

3 Representative; or 

4 ‘‘(II) if the member is referred to in such sub5 clause (II) or (III), the Deputy Secretary of the de6 partment referred to in the subclause. 

7 ‘‘(iv) If the temporary Board consists of members of 

8 only one political party, the President of the United States 

9 shall, to the extent practicable, appoint to the temporary 

10 Board a qualified member of a different political party 

11 who occupies a position requiring nomination by the Presi12 dent, by and with the consent of the Senate. 

13 ‘‘(v) The temporary board may not change or amend 

14 Agency policies, procedures, bylaws, or guidelines. 

15 ‘‘(vi) The temporary Board shall expire at the end 

16 of the term of the President of the United States in office 

17 at the time the temporary Board was constituted or upon 

18 restoration of a quorum of the Board of Directors as de19 fined in subparagraph (A). 

20 ‘‘(vii) With respect to a transaction that equals or 

21 exceeds $100,000,000, the Chairperson of the temporary 

22 Board shall ensure that the Agency complies with section 

23 2(b)(3).’’. 

24 (b) TERMINATION.—The amendments made by sub25 section (a) shall have no force or effect after the 10-year 


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1 period that begins with the date of the enactment of this 

2 Act. 

3 SEC. 9. STRENGTHENING SUPPORT FOR UNITED STATES 

4 SMALL BUSINESSES. 

5 (a) SMALL BUSINESS POLICY.—Section 2(b)(1) of 

6 the Export-Import Bank Act of 1945 (12 U.S.C. 

7 635(b)(1)) is amended by striking subparagraph (E)(i)(I) 

8 and inserting the following: 

9 ‘‘(E)(i)(I) It is further the policy of the United States 

10 to encourage the participation of small business (including 

11 women-owned businesses, minority-owned businesses, vet12 eran-owned businesses, businesses owned by persons with 

13 disabilities, and businesses in rural areas) and start-up 

14 businesses in international commerce, and to educate such 

15 businesses about how to export goods using the United 

16 States Export Finance Agency.’’. 

17 (b) OUTREACH.— 

18 (1) PLAN.—Within 120 days after the date of 

19 the enactment of this Act, the United States Export 

20 Finance Agency shall prepare and submit to the 

21 Committee on Financial Services of the House of 

22 Representatives and the Committee on Banking, 

23 Housing, and Urban Affairs of the Senate a com24 prehensive outreach plan to ensure that small busi25 ness owners are aware of the financing options availVerDate Sep 11 2014 00:41 Nov 19, 2019 Jkt 099200 PO 00000 Frm 00017 Fmt 6652 Sfmt 6201 E:\BILLS\H4863.RFS H4863

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1 able to them through the Agency. The plan shall in2 clude— 

3 (A) input from the Small Business Admin4 istration and statewide small business coalitions 

5 with operations in rural, urban, and suburban 

6 regions; 

7 (B) an emphasis on outreach to businesses 

8 owned by women, minorities, veterans, persons 

9 with disabilities, and individuals self-identifying 

10 as lesbian, gay, bisexual, transgender, or queer; 

11 (C) an emphasis on outreach to businesses 

12 that export goods and services that are pro13 duced by Indian tribes and that are made, as14 sembled, or otherwise derived on or from an In15 dian tribe’s Indian land (as defined in section 

16 2601(2) of the Energy Policy Act of 1992 (25 

17 U.S.C. 2501(2)); 

18 (D) a proposed budget for carrying out the 

19 plan during fiscal years 2020 through 2029, 

20 that provides for the spending of at least 

21 $1,000,000 annually for outreach to small busi22 nesses; and 

23 (E) an emphasis on outreach to small busi24 nesses in sectors impacted by retaliatory tariffs. 


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1 (2) REPORT ON ACTIVITIES IN ECONOMICALLY

2 DISADVANTAGED REGIONS.—Section 8 of such Act 

3 (12 U.S.C. 635g), as amended by sections 6(b) and 

4 7(b) of this Act, is amended by adding at the end 

5 the following: 

6 ‘‘(n) REPORT ON ACTIVITIES IN ECONOMICALLY DIS7 ADVANTAGED REGIONS.— 

8 ‘‘(1) IN GENERAL.—The Agency shall include in 

9 its annual report to Congress under subsection (a) 

10 a report on the steps taken by the Agency in the pe11 riod covered by the report to increase— 

12 ‘‘(A) awareness of the Agency and its serv13 ices in economically disadvantaged regions; and 

14 ‘‘(B) the provision of Agency support to 

15 export businesses in economically disadvantaged 

16 regions. 

17 ‘‘(2) DEFINITION.—In paragraph (1), the term 

18 ‘economically disadvantaged region’ means a county 

19 or equivalent division of local government of a State 

20 in which, according to the most recently available 

21 data from the Bureau of the Census, 20 percent or 

22 more of the residents have an annual income that is 

23 at or below the poverty level.’’. 


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1 (3) IMPLEMENTATION.—Section 2(b)(1)(E) of 

2 such Act (12 U.S.C. 635(b)(1)(E)) is amended by 

3 adding at the end the following: 

4 ‘‘(xi) After consultation with the Committee on Fi5 nancial Services of the House of Representatives and the 

6 Committee on Banking, Housing, and Urban Affairs of 

7 the Senate, the Agency shall implement the outreach plan 

8 referred to in section 9(b)(1) of the United States Export 

9 Finance Agency Act of 2019.’’. 

10 (c) EXCLUSION OF UNUTILIZED INSURANCE AU11 THORITY IN CALCULATING SMALL BUSINESS THRESH12 OLD.—Section 2(b)(1)(E)(v) of such Act (12 U.S.C. 

13 635(b)(1)(E)(v)) is amended by adding at the end the fol14 lowing: ‘‘For the purpose of calculating the amounts of 

15 authority required under this clause, the Agency shall, 

16 with respect to insurance, exclude unutilized authoriza17 tions that terminated during the fiscal year.’’. 

18 (d) INCREASE IN SMALL BUSINESS THRESHOLD.— 

19 (1) IN GENERAL.—Section 2(b)(1)(E)(v) of 

20 such Act (12 U.S.C. 635(b)(1)(E)(v)) is amended by 

21 striking ‘‘25’’ and inserting ‘‘30’’. 

22 (2) EFFECTIVE DATE.—The amendment made 

23 by paragraph (1) shall take effect on October 1, 

24 2028. 


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1 (e) REPORT ON ACTIVITIES SUPPORTING INDIAN

2 TRIBES.—Section 8 of such Act (12 U.S.C. 635g), as 

3 amended by the preceding provisions of this Act, is amend4 ed by adding at the end the following: 

5 ‘‘(n) REPORT ON ACTIVITIES SUPPORTING INDIAN

6 TRIBES.—The Agency shall include in its annual report 

7 to Congress under subsection (a) a report on the steps 

8 taken by the Agency in the period covered by the report 

9 to increase— 

10 ‘‘(1) awareness of the Agency and its services 

11 available to Indian tribes; and 

12 ‘‘(2) the provision of Agency support to tribal 

13 export businesses.’’. 

14 SEC. 10. ENHANCING FLEXIBILITY TO RESPOND TO PREDA15 TORY EXPORT FINANCING BY CHINA. 

16 (a) DEEMING RULE UNDER TIED AID CREDIT PRO17 GRAM.—Section 10(b)(5)(B)(i)(III) of the Export-Import 

18 Bank Act of 1945 (12 U.S.C. 635i–3(b)(5)(B)(i)(III)) is 

19 amended by adding at the end the following new sentence: 

20 ‘‘The requirement that there be credible evidence of a his21 tory of a foreign export credit agency making offers not 

22 subject to the Arrangement is deemed met in the case of 

23 exports likely to be supported by official financing from 

24 the People’s Republic of China, unless the Secretary of 

25 the Treasury has reported to the Committee on Financial 


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1 Services of the House of Representatives and the Com2 mittee on Banking, Housing, and Urban Affairs of the 

3 Senate that China is in substantial compliance with the 

4 Arrangement.’’. 

5 (b) COLLABORATION WITH USDA ON EXPORT FI6 NANCING PROGRAMS.—Section 13(1)(A) of such Act (12 

7 U.S.C. 635i–7(1)(A)) is amended by inserting ‘‘, the De8 partment of Agriculture,’’ before ‘‘and other Federal agen9 cies’’. 

10 SEC. 11. RESTRICTION ON FINANCING FOR CERTAIN ENTI11 TIES. 

12 Section 2 of the Export-Import Bank Act of 1945 

13 (12 U.S.C. 635) is amended by adding at the end the fol14 lowing: 

15 ‘‘(l) RESTRICTION ON FINANCING FOR CERTAIN EN16 TITIES.— 

17 ‘‘(1) IN GENERAL.—Beginning on the date that 

18 is 180 days after the date of the enactment of this 

19 subsection, the Board of Directors may not approve 

20 a transaction that is subject to approval by the 

21 Board with respect to the provision by the Agency 

22 of any guarantee, insurance, or extension of credit, 

23 or the participation by the Agency in any extension 

24 of credit for which the end user, obligor, or lender 

25 is described in paragraph (2). 


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1 ‘‘(2) PROHIBITED END USER, OBLIGOR, OR

2 LENDER.—An end user, obligor, or lender is de3 scribed in this paragraph if the end user, obligor, or 

4 lender is known to the Agency to be: 

5 ‘‘(A) The People’s Liberation Army of the 

6 People’s Republic of China. 

7 ‘‘(B) The Ministry of State Security of the 

8 People’s Republic of China. 

9 ‘‘(C) Included on the Denied Persons List 

10 or the Entity List maintained by the Bureau of 

11 Industry and Security of the Department of 

12 Commerce. 

13 ‘‘(D) Included on the Arms Export Control 

14 Act debarred list maintained by the Directorate 

15 of Defense Trade Controls of the Department 

16 of State. 

17 ‘‘(E) Any person who has paid a criminal 

18 fine or penalty pursuant to a conviction or reso19 lution or settlement agreement with the Depart20 ment of Justice for a violation of the Foreign 

21 Corrupt Practices Act in the preceding 3 years. 

22 ‘‘(F) A person who, in the preceding 3 

23 years, appeared on the Annual Intellectual 

24 Property Report to Congress by the Intellectual 

25 Property Enforcement Coordinator in the ExecVerDate Sep 11 2014 00:41 Nov 19, 2019 Jkt 099200 PO 00000 Frm 00023 Fmt 6652 Sfmt 6201 E:\BILLS\H4863.RFS H4863

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1 utive Office of the President, if the person was 

2 convicted in any court. 

3 ‘‘(3) DEFINITIONS.—In this subsection: 

4 ‘‘(A) PERSON.—The term ‘person’ means 

5 an individual or entity. 

6 ‘‘(B) ENTITY.—The term ‘entity’ means a 

7 partnership, association, trust, joint venture, 

8 corporation, group, subgroup, or other organi9 zation.’’. 

10 SEC. 12. PROHIBITIONS ON FINANCING FOR CERTAIN PER11 SONS INVOLVED IN SANCTIONABLE ACTIVI12 TIES. 

13 Section 2 of the Export-Import Bank Act of 1945 

14 (12 U.S.C. 635), as amended by section 11 of this Act, 

15 is amended by adding at the end the following: 

16 ‘‘(m) PROHIBITIONS ON FINANCING FOR CERTAIN

17 PERSONS INVOLVED IN SANCTIONABLE ACTIVITIES.— 

18 ‘‘(1) IN GENERAL.—Beginning on the date that 

19 is 180 days after the date of the enactment of this 

20 subsection, the Board of Directors of the Agency 

21 may not approve any transaction that is subject to 

22 approval by the Board with respect to the provision 

23 by the Agency of any guarantee, insurance, or exten24 sion of credit, or the participation by the Agency in 

25 any extension of credit, to a person in connection 


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1 with the exportation of any good or service unless 

2 the person provides the certification described in 

3 paragraph (2). 

4 ‘‘(2) CERTIFICATION DESCRIBED.—The certifi5 cation described in this paragraph is a certification 

6 by a person who is an end user, obligor, or lender 

7 that neither the person nor any other person owned 

8 or controlled by the person engages in any activity 

9 in contravention of any United States law, regula10 tion, or order applicable to the person concerning— 

11 ‘‘(A) trade and economic sanctions, includ12 ing an embargo; 

13 ‘‘(B) the freezing or blocking of assets of 

14 designated persons; 

15 ‘‘(C) sanctions relating to serious viola16 tions of human rights or free speech, including 

17 any sanctions— 

18 ‘‘(i) imposed under the Global 

19 Magnitsky Human Rights Accountability 

20 Act; 

21 ‘‘(ii) related to the efforts to the Chi22 nese government to limit or punish dem23 onstrations in Hong Kong; 


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1 ‘‘(iii) related to the political repression 

2 or detention of religious and ethnic minori3 ties in China or Burma; or 

4 ‘‘(iv) related to the gross violation of 

5 internationally recognized human rights 

6 (as defined in section 502B of the Foreign 

7 Assistance Act of 1961) in China; 

8 ‘‘(D) sanctions relating to the illegal traf9 ficking of synthetic opioids, including any sanc10 tions imposed pursuant to the Foreign Nar11 cotics Kingpin Designation Act; 

12 ‘‘(E) sanctions relating to human rights 

13 abuses, including engaging in human traf14 ficking, including sex trafficking, and any sanc15 tions imposed under Executive Order No. 

16 13581 (Blocking Property of Transnational 

17 Criminal Organizations); or 

18 ‘‘(F) other restrictions on exports, imports, 

19 investment, payments, or other transactions 

20 targeted at particular persons or countries. 

21 ‘‘(3) CERTIFICATION REQUIREMENTS.—The 

22 certification described in paragraph (2) shall be 

23 made after reasonable due diligence and based on 

24 best knowledge and belief.’’. 


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1 SEC. 13. PROMOTING RENEWABLE ENERGY EXPORTS, ENVI2 RONMENTAL AND SOCIAL STANDARDS, AND 

3 ACCOUNTABILITY. 

4 (a) OFFICE OF FINANCING FOR RENEWABLE EN5 ERGY, ENERGY EFFICIENCY AND ENERGY STORAGE EX6 PORTS.—Section 2(b)(1)(C) of the Export-Import Bank 

7 Act of 1945 (12 U.S.C. 635(b)(1)(C)) is amended to read 

8 as follows: 

9 ‘‘(C) OFFICE OF FINANCING FOR RENEWABLE EN10 ERGY, ENERGY EFFICIENCY AND ENERGY STORAGE.— 

11 The President of the Agency shall establish an office 

12 whose functions shall be to promote the export of goods 

13 and services to be used in the development, production, 

14 and distribution of renewable energy resources, and energy 

15 efficiency (including battery electric vehicles, batteries for 

16 electric vehicles, and electric vehicle charging infrastruc17 ture) and energy storage technologies, and disseminate in18 formation concerning export opportunities and the avail19 ability of Agency support for such activities, to increase 

20 the total amount of loans, guarantees, and insurance pro21 vided by the Agency to support exports related to renew22 able energy, energy efficiency (including battery electric 

23 vehicles, batteries for electric vehicles, and electric vehicle 

24 charging infrastructure), and energy storage.’’. 


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1 (b) ENVIRONMENTAL POLICY AND PROCEDURES.— 

2 Section 11(a) of such Act (12 U.S.C. 635i–5(a)) is amend3 ed— 

4 (1) in paragraph (1)— 

5 (A) in the second sentence, by inserting ‘‘, 

6 including to potentially impacted communities 

7 in the country in which the activity will be car8 ried out, at least 60 days before the date of the 

9 vote,’’ before ‘‘and supplemental’’; 

10 (B) by inserting after the second sentence 

11 the following: ‘‘The procedures shall include a 

12 requirement for an analysis of the environ13 mental and social impacts, including worker im14 pacts and anticipated health impacts and costs, 

15 of the proposed activity and of alternatives to 

16 the proposed activity, including mitigation 

17 measures, where appropriate.’’; and 

18 (C) in the third sentence, by striking ‘‘The 

19 preceding sentence’’ and inserting ‘‘This para20 graph’’; 

21 (2) by redesignating paragraph (2) as para22 graph (7) and inserting after paragraph (1) the fol23 lowing: 

24 ‘‘(2) CONSULTATIONS WITH POTENTIALLY IM25 PACTED COMMUNITIES.—In any credit or common 


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1 terms agreements to which the Agency is a party re2 lating to a transaction described in paragraph (1), 

3 the Agency shall include a provision to ensure that 

4 robust consultations with potentially impacted com5 munities, including affected workers, in the country 

6 in which the activity will be carried out have been 

7 and will continue to be carried out throughout the 

8 project cycle. 

9 ‘‘(3) ENVIRONMENTAL AND SOCIAL DUE DILI10 GENCE PROCEDURES AND GUIDELINES REVIEW.—By 

11 the end of 2020 and once at the end of each subse12 quent 3-year period, the Board of Directors of the 

13 Agency shall complete a review of the Environmental 

14 and Social Due Diligence Procedures and Guidelines 

15 ensuring that the procedures and guidelines incor16 porate requirements for project consideration that 

17 are consistent to limit greenhouse gas emissions and, 

18 to the maximum extent possible, to affirm that the 

19 Board operates consistently with the multilateral en20 vironmental agreements to which the United States 

21 is a party that are directly related to transactions in 

22 which the Agency is involved. 

23 ‘‘(4) The Agency shall operate consistently with 

24 Annex VI of the Arrangement on Officially Sup25 ported Export Credits, as adopted by the 


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1 Organisation for Economic Co-operation and Devel2 opment as of January 2019. 

3 ‘‘(5) The Agency shall make publicly available 

4 the estimated amounts of CO2 emissions expected to 

5 be produced from pending projects that the Agency 

6 has designated as Category A and B projects and 

7 work with other export credit agencies to encourage 

8 them to do the same. 

9 ‘‘(A) The Agency shall report CO2 emis10 sions associated with projects that the Agency 

11 has designated as Category A and B fossil fuel 

12 projects in its annual report by product cat13 egories. 

14 ‘‘(B) The Agency shall advocate within the 

15 OECD and other multilateral fora for the full 

16 reporting of CO2 emissions associated with ap17 propriate energy and non-energy projects in18 cluding manufacturing and agriculture. 

19 ‘‘(C) The Agency shall undertake periodic 

20 reviews with stakeholders to ensure that the 

21 Agency employs the most appropriate method22 ology of estimating and tracking the CO2 emis23 sions from Category A and B projects the 

24 Agency supports. 


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1 ‘‘(6) The Agency shall develop and maintain 

2 measures to provide increased financing support for 

3 evolving technologies that reduce CO2 emissions. 

4 ‘‘(A) The Agency shall develop and main5 tain measures to encourage foreign buyers to 

6 seek available, commercially viable technology to 

7 reduce the CO2 footprint of projects. 

8 ‘‘(B) The Agency shall develop and main9 tain initiatives to finance aspects of project de10 velopment that reduce or mitigate CO2 emis11 sions, such as effective carbon capture and se12 questration technology, while maintaining the 

13 competitiveness of United States exporters. 

14 ‘‘(C) In coordination with the Department 

15 of the Treasury, the Agency shall advocate in 

16 international fora for the availability of financ17 ing incentives for low to net zero CO2-emitting 

18 projects, a common methodology for evaluating 

19 and taking into account the social cost of car20 bon. 

21 ‘‘(D) The Agency shall encourage export 

22 credit agencies and other relevant lending insti23 tutions to adopt similar CO2 policies, including 

24 encouraging transparency and the involvement 

25 of stakeholders.’’; and 


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1 (3) in paragraph (7) (as so redesignated by 

2 paragraph (2) of this subsection), by striking ‘‘para3 graph (1)’’ and inserting ‘‘this subsection’’. 

4 (c) ANNUAL REPORT TO CONGRESS.—Section 11(c) 

5 of such Act (12 U.S.C. 635i–5(c)) is amended to read as 

6 follows: 

7 ‘‘(c) INCLUSION IN ANNUAL REPORT TO CON8 GRESS.—The Agency shall include in its annual report to 

9 Congress under section 8 a summary of its activities under 

10 subsections (a) and (b). The Board of Directors shall sub11 mit to the Congress a report, which shall be made publicly 

12 available on the Internet at the time of delivery— 

13 ‘‘(1) that provides a detailed accounting of the 

14 methodology used to make greenhouse gas emissions 

15 project determinations; 

16 ‘‘(2) details the steps taken to ensure that the 

17 Environmental and Social Due Diligence Procedures 

18 and Guidelines of the Agency are consistent with— 

19 ‘‘(A) reducing greenhouse gas emissions; 

20 and 

21 ‘‘(B) operating consistently with the multi22 lateral environmental agreements to which the 

23 United States is a party that are directly re24 lated to transactions in which the Agency is in25 volved; and 


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1 ‘‘(3) details the effects of exports and projects 

2 financed by the Agency on the number of jobs cre3 ated or retained in the energy and related tech4 nologies industries of the United States.’’. 

5 (d) FINANCING FOR RENEWABLE ENERGY, ENERGY

6 EFFICIENCY, AND ENERGY STORAGE TECHNOLOGIES.— 

7 Section 2(b)(1)(K) of such Act (12 U.S.C. 635(b)(1)(K)) 

8 is amended by inserting ‘‘, energy efficiency (including 

9 battery electric vehicles, batteries for electric vehicles, and 

10 electric vehicle charging infrastructure), and energy stor11 age. It shall be a goal of the Bank to ensure that not 

12 less than 5 percent of the applicable amount (as defined 

13 in section 6(a)(2)) is made available each fiscal year for 

14 the financing of renewable energy, energy efficiency (in15 cluding battery electric vehicles, batteries for electric vehi16 cles, and electric vehicle charging infrastructure), and en17 ergy storage technology exports’’ before the period. 

18 (e) SENSE OF THE CONGRESS REGARDING AGENCY

19 ACCOUNTABILITY.—It is the sense of the Congress that— 

20 (1) the Board of Directors of the United States 

21 Export Finance Agency (in this section referred to 

22 as the ‘‘Agency’’) should, after a public consultation 

23 process, establish a formal, transparent, and inde24 pendent accountability mechanism to review, inves25 tigate, offer independent dispute resolution to reVerDate Sep 11 2014 00:41 Nov 19, 2019 Jkt 099200 PO 00000 Frm 00033 Fmt 6652 Sfmt 6201 E:\BILLS\H4863.RFS H4863

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1 solve, and publicly report on allegations by affected 

2 parties of any failure of the Agency to follow its own 

3 policies and procedures with regard to the environ4 mental and social impacts of projects, including im5 pacts on workers, and on situations where the Agen6 cy is alleged to have failed in ensuring the borrower 

7 is fulfilling its obligations in financing agreements 

8 with respect to the policies and procedures; 

9 (2) the accountability mechanism should be able 

10 to provide advice to management on policies, proce11 dures, guidelines, resources, and systems established 

12 to ensure adequate review and monitoring of the en13 vironmental and social impacts of projects; 

14 (3) in carrying out its mandate, the confiden15 tiality of sensitive business information should be re16 spected, as appropriate, and, in consultation with 

17 potentially impacted communities, project sponsors, 

18 Agency management, and other relevant parties, a 

19 flexible process should be followed aimed primarily 

20 at correcting project failures and achieving better re21 sults on the ground; 

22 (4) the accountability mechanism should be 

23 independent of the line operations of management, 

24 and report its findings and recommendations directly 


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1 to the Board of Directors of the Agency and annu2 ally to the Congress; 

3 (5) the annual report of the Agency should in4 clude a detailed accounting of the activities of the 

5 accountability mechanism for the year covered by 

6 the report and the remedial actions taken by the 

7 Agency in response to the findings of the account8 ability mechanism; 

9 (6) in coordination with the accountability 

10 mechanism, the Agency and relevant parties should 

11 engage in proactive outreach to communities im12 pacted or potentially impacted by Agency financing 

13 and activities to provide information on the existence 

14 and availability of the accountability mechanism; 

15 (7) the President of the Agency should, subject 

16 to the approval of the Board of Directors of the 

17 Agency, and consistent with applicable law, through 

18 an open and competitive process, including solicita19 tion of input from relevant stakeholders, appoint a 

20 director of the accountability mechanism, who would 

21 be responsible for the day-to-day operations of the 

22 mechanism, and a panel of not less than three ex23 perts, including the director, who would also serve as 

24 chair of the panel; and 


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1 (8) the accountability mechanism director and 

2 members of the panel should not have been em3 ployed by the Agency within the 5 years preceding 

4 their appointment, and should be ineligible from fu5 ture employment at the Agency. 

6 SEC. 14. REINSURANCE PROGRAM. 

7 Section 51008 of the Fixing America’s Surface 

8 Transportation Act (12 U.S.C. 635 note) is amended— 

9 (1) in the section heading, by striking 

10 ‘‘PILOT’’; 

11 (2) in subsection (a), by striking ‘‘pilot’’; 

12 (3) in subsection (b)(1), by striking 

13 ‘‘$1,000,000,000’’ and inserting ‘‘$2,000,000,000’’; 

14 and 

15 (4) by striking subsections (c) through (e) and 

16 inserting the following: 

17 ‘‘(c) FACTORS FOR CONSIDERATION IN REINSUR18 ANCE POOLS.—In implementing this section, the Agency 

19 shall, with respect to a reinsurance pool, pursue appro20 priate objectives to reduce risk and costs to the Agency, 

21 including by the following, to the extent practicable: 

22 ‘‘(1) Ensuring a reasonable diversification of 

23 risks. 


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1 ‘‘(2) Including larger exposures where the pos2 sibility of default raises overall portfolio risk for the 

3 Agency. 

4 ‘‘(3) Excluding transactions from the pool that 

5 are covered by first-loss protection. 

6 ‘‘(4) Excluding transactions from the pool that 

7 are collateralized at a rate greater than standard 

8 market practice. 

9 ‘‘(5) Diversifying reinsurance pools by industry 

10 and other appropriate factors. 

11 ‘‘(6) Exploring different time periods of cov12 erage. 

13 ‘‘(7) Exploring both excess of loss structures on 

14 a per-borrower as well as an aggregate basis. 

15 ‘‘(d) BIENNIAL REPORTS.—Not later than 1 year 

16 after the date of the enactment of this subsection, and 

17 every 2 years thereafter through 2029, the Agency shall 

18 submit to the Committee on Financial Services of the 

19 House of Representatives and the Committee on Banking, 

20 Housing, and Urban Affairs of the Senate a written report 

21 that contains an assessment of the use of the program 

22 carried out under subsection (a) since the most recent re23 port under this subsection. 

24 ‘‘(e) RULE OF CONSTRUCTION.—Nothing in this sec25 tion shall be construed to limit any authority of the AgenVerDate Sep 11 2014 00:41 Nov 19, 2019 Jkt 099200 PO 00000 Frm 00037 Fmt 6652 Sfmt 6201 E:\BILLS\H4863.RFS H4863

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1 cy described in section 2(a)(1) of the Export-Import Bank 

2 Act of 1945.’’. 

3 SEC. 15. INFORMATION TECHNOLOGY SYSTEMS. 

4 Section 3(j) of the Export-Import Bank Act of 1945 

5 (12 U.S.C. 635a(j)) is amended— 

6 (1) in paragraph (1), by striking all that pre7 cedes subparagraph (A) and inserting the following: 

8 ‘‘(1) IN GENERAL.—Subject to paragraphs (3) 

9 and (4), the Agency may use an amount equal to 

10 1.25 percent of the surplus of the Agency during fis11 cal years 2020 through 2029 to—’’; and 

12 (2) by striking paragraph (3) and inserting the 

13 following: 

14 ‘‘(3) LIMITATION.—The aggregate of the 

15 amounts used in accordance with paragraph (1) for 

16 fiscal years 2020 through 2029 shall not exceed 

17 $40,000,000.’’. 

18 SEC. 16. ADMINISTRATIVELY DETERMINED PAY. 

19 Section 3 of the Export-Import Bank Act of 1945 

20 (12 U.S.C. 635a), as amended by section 7(a) of this Act, 

21 is amended by adding at the end the following: 

22 ‘‘(o) COMPENSATION OF EMPLOYEES.— 

23 ‘‘(1) RATES OF PAY.—Subject to paragraph 

24 (2), the Board of Directors of the Agency, consistent 

25 with standards established by the Director of the OfVerDate Sep 11 2014 00:41 Nov 19, 2019 Jkt 099200 PO 00000 Frm 00038 Fmt 6652 Sfmt 6201 E:\BILLS\H4863.RFS H4863

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1 fice of Minority and Women Inclusion, may set and 

2 adjust rates of basic pay for employees and new 

3 hires of the Agency without regard to the provisions 

4 of chapter 51 and subchapter III of chapter 53 of 

5 title 5, United States Code, except that no employee 

6 of the Agency may receive a rate of basic pay that 

7 exceeds the rate for level III of the Executive Sched8 ule under section 5313 of such title. 

9 ‘‘(2) LIMITATIONS.—The Board of Directors of 

10 the Agency may not apply paragraph (1) to more 

11 than 35 employees at any point in time. Nothing in 

12 paragraph (1) may be construed to apply to any po13 sition of a confidential or policy-determining char14 acter that is excepted from the competitive service 

15 under section 3302 of title 5, United States Code, 

16 (pursuant to schedule C of subpart C of part 213 of 

17 title 5 of the Code of Federal Regulations) or to any 

18 position that would otherwise be subject to section 

19 5311 or 5376 of title 5, United States Code.’’. 

20 SEC. 17. AUTHORITY OF THE UNITED STATES EXPORT FI21 NANCE AGENCY TO USE 3 PERCENT OF ITS 

22 PROFITS FOR ADMINISTRATIVE EXPENSES. 

23 Section 3 of the Export-Import Bank Act of 1945 

24 (12 U.S.C. 635a), as amended by the preceding provisions 

25 of this Act, is amended by adding at the end the following: 


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1 ‘‘(p) AUTHORITY TO USE PORTION OF AGENCY SUR2 PLUS FOR ADMINISTRATIVE EXPENSES.— 

3 ‘‘(1) AUTHORITY.— 

4 ‘‘(A) IN GENERAL.—Subject to paragraph 

5 (2), in addition to any other amounts that the 

6 Agency may use to cover administrative ex7 penses of the Agency, the Agency may use not 

8 more than 3 percent of the surplus (as defined 

9 in subsection (j)(2), without regard to subpara10 graph (B)(ii) of such subsection) of the Agency, 

11 for each fiscal year in the 5-year period begin12 ning with the date of the enactment of this 

13 paragraph, to cover administrative expenses of 

14 the Agency. 

15 ‘‘(B) USE FOR REGIONAL OFFICES.—Of 

16 the amount of the surplus which may be used 

17 as provided in subparagraph (A), the Agency 

18 shall use at least one-third to expand or estab19 lish regional offices of the Agency. 

20 ‘‘(2) SUBJECT TO APPROPRIATIONS.—The au21 thority provided by paragraph (1) may be exercised 

22 only to such extent and in such amounts as are pro23 vided in advance in appropriations Acts.’’. 


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1 SEC. 18. GAO REPORT ON THE EFFECT OF AGENCY CLO2 SURE ON BUSINESSES THAT USE AGENCY 

3 SERVICES. 

4 Within 1 year after the date of the enactment of this 

5 Act, the Comptroller General shall submit to the Congress 

6 a written report on the effect that closure of the United 

7 States Export Finance Agency would have on businesses 

8 that use services of the United States Export Finance 

9 Agency. 

Passed the House of Representatives November 15, 

2019. 

Attest: CHERYL L. JOHNSON, 

Clerk. 


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