I 

112TH CONGRESS 

2D SESSION H. R. 4268 

To abolish the Export-Import Bank of the United States, and for other 

purposes. 

IN THE HOUSE OF REPRESENTATIVES 

MARCH 27, 2012 

Mr. AMASH (for himself and Mr. FLAKE) introduced the following bill; which 

was referred to the Committee on Financial Services 

A BILL 

To abolish the Export-Import Bank of the United States, 

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, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Export-Import Bank 

5 Termination Act of 2012’’. 

6 SEC. 2. REDUCTIONS OF AUTHORITIES BEFORE ABOLISH7 MENT. 

8 Notwithstanding any other provision of law: 

9 (1) TERMINATION OF AUTHORITY TO ACCEPT

10 APPLICATIONS FOR ASSISTANCE.—The Export-ImVerDate Mar 15 2010 20:10 Mar 28, 2012 Jkt 019200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\H4268.IH H4268

srobinson on DSK4SPTVN1PROD with BILLS
2 

•HR 4268 IH

1 port Bank of the United States (in this Act referred 

2 to as the ‘‘Bank’’) may not accept an application for 

3 a loan, insurance, or a guarantee, or to participate 

4 in an extension of credit by another entity, after the 

5 30-day period that begins with the date of the enact6 ment of this Act. 

7 (2) TERMINATION OF AUTHORITY TO RENEW

8 OR ENTER INTO A CONTRACT FOR THE PROVISION

9 OF ASSISTANCE BY THE BANK.—The Bank may not 

10 renew or enter into a contract which would obligate 

11 the Bank to provide a loan, insurance, or a guar12 antee, or participate in an extension of credit by an13 other entity, after the 12-month period that begins 

14 with such date of enactment. 

15 SEC. 3. ABOLISHMENT OF EXPORT-IMPORT BANK OF THE 

16 UNITED STATES. 

17 (a) IN GENERAL.—Effective on the abolishment date: 

18 (1) ABOLISHMENT.—The Bank is abolished. 

19 (2) TRANSFER OF FUNCTIONS.—All functions 

20 that, immediately before the abolishment date are 

21 authorized to be performed by the Bank, the Board 

22 of Directors of the Bank, any officer or employee of 

23 the Bank acting in that capacity, or any agency or 

24 office of the Bank, are transferred to the Secretary 


srobinson on DSK4SPTVN1PROD with BILLS
3 

•HR 4268 IH

1 of the Treasury (in this Act referred to as the ‘‘Sec2 retary’’). 

3 (b) ABOLISHMENT DATE DEFINED.—In this Act, the 

4 term ‘‘abolishment date’’ means the date that is 3 years 

5 after the date of the enactment of this Act. 

6 SEC. 4. RESOLUTION AND TERMINATION OF BANK FUNC7 TIONS. 

8 (a) RESOLUTION OF FUNCTIONS.—The Secretary 

9 shall— 

10 (1) complete the disposition and resolution of 

11 functions of the Bank in accordance with this Act; 

12 and 

13 (2) resolve all functions that are transferred to 

14 the Secretary under section 3(a)(2). 

15 (b) TERMINATION OF FUNCTIONS.—All functions 

16 that are transferred to the Secretary under section 3(a)(2) 

17 shall terminate on the date all obligations of the Bank, 

18 and all obligations of others to the Bank, in effect imme19 diately before the abolishment date have been satisfied, as 

20 determined by the Secretary. 

21 (c) REPORT TO THE CONGRESS.—When the Sec22 retary makes the determination described in subsection 

23 (b), the Secretary shall report the determination to the 

24 Committee on Financial Services of the House of Rep25 resentatives and the Committee on Finance of the Senate. 


srobinson on DSK4SPTVN1PROD with BILLS
4 

•HR 4268 IH

1 SEC. 5. DUTIES OF THE SECRETARY OF THE TREASURY. 

2 (a) IN GENERAL.—The Secretary shall be responsible 

3 for the implementation of this Act, including— 

4 (1) the administration and wind-up of all func5 tions transferred to the Secretary under section 

6 3(a)(2); 

7 (2) the administration and wind-up of any out8 standing obligations of the Federal Government 

9 under any programs terminated by this Act; and 

10 (3) taking such other actions as may be nec11 essary to wind-up any outstanding affairs of the 

12 Bank. 

13 (b) DELEGATION OF FUNCTIONS.—The Secretary 

14 may delegate to any other Federal department or agency 

15 head the performance of the functions of the Secretary 

16 under this Act, to the extent that the Secretary determines 

17 that the delegation would further the purposes of this Act. 

18 (c) TRANSFER OF ASSETS AND PERSONNEL.—In 

19 connection with any delegation of functions under sub20 section (b), the Secretary may transfer to the department 

21 or agency concerned such assets, funds, personnel, 

22 records, and other property relating to the delegated func23 tion as the Secretary determines to be appropriate. 

24 (d) AUTHORITIES OF THE SECRETARY.—For pur25 poses of performing the functions of the Secretary under 


srobinson on DSK4SPTVN1PROD with BILLS
5 

•HR 4268 IH

1 this Act and subject to the availability of appropriations, 

2 the Secretary may— 

3 (1) enter into contracts; 

4 (2) employ experts and consultants in accord5 ance with section 3109 of title 5, United States 

6 Code, at rates for individuals not to exceed the per 

7 diem rate equivalent to the rate for level IV of the 

8 Executive Schedule; and 

9 (3) utilize, on a reimbursable basis, the services, 

10 facilities, and personnel of other Federal agencies. 

11 SEC. 6. PERSONNEL. 

12 Effective on the abolishment date, there are trans13 ferred to the Department of the Treasury all individuals, 

14 other than members of the Board of Directors of the 

15 Bank, who— 

16 (1) immediately before the abolishment date, 

17 were officers or employees of the Bank; and 

18 (2) in their capacity as such an officer or em19 ployee, performed functions that are transferred to 

20 the Secretary under section 3(a)(2). 

21 SEC. 7. TRANSFER OF INSPECTOR GENERAL DUTIES. 

22 (a) TERMINATION OF THE OFFICE OF INSPECTOR

23 GENERAL FOR THE EXPORT-IMPORT BANK OF THE

24 UNITED STATES.—Notwithstanding any other provision 

25 of law, the Office of Inspector General for the Bank shall 


srobinson on DSK4SPTVN1PROD with BILLS
6 

•HR 4268 IH

1 terminate on the abolishment date, and the assets and ob2 ligations of the Office shall be transferred to the Office 

3 of the Inspector General for the Department of the Treas4 ury or otherwise disposed of. 

5 (b) AUTHORITY AND RESPONSIBILITY FOR TRANS6 FER OR DISPOSAL.—The Secretary shall have the author7 ity and responsibility for transfer or disposal under sub8 section (a). 

9 (c) SAVINGS PROVISION.—The provisions of this sec10 tion shall not affect the performance of any pending audit, 

11 investigation, inspection, or report by the Office of the In12 spector General for the Bank as of the abolishment date, 

13 with respect to functions transferred by this section. Noth14 ing in this subsection shall be deemed to prohibit the dis15 continuance or modification of any performance under the 

16 same terms and conditions and to the same extent that 

17 such performance could have been discontinued or modi18 fied if this section had not been enacted. 

19 SEC. 8. EXERCISE OF AUTHORITIES. 

20 Except as otherwise provided by law, a Federal offi21 cial to whom a function is transferred by this Act may, 

22 for purposes of performing the function, exercise all au23 thorities under any other provision of law that were avail24 able with respect to the performance of that function to 

25 the official responsible for the performance of the function 


srobinson on DSK4SPTVN1PROD with BILLS
7 

•HR 4268 IH

1 immediately before the effective date of the transfer of the 

2 function under this Act. 

3 SEC. 9. TRANSFER OF ASSETS. 

4 Except as otherwise provided in this Act, so much 

5 of the personnel, property, records, and unexpended bal6 ances of appropriations, allocations, and other funds em7 ployed, used, held, available, or to be made available in 

8 connection with a function transferred to an official or 

9 agency by this Act shall be available to the official or the 

10 head of that agency, respectively, at such time or times 

11 as the Director of the Office of Management and Budget 

12 directs for use in connection with the functions trans13 ferred. 

14 SEC. 10. DELEGATION AND ASSIGNMENT. 

15 Except as otherwise expressly prohibited by law, an 

16 official to whom functions are transferred under this Act 

17 (including the head of any office to which functions are 

18 transferred under this Act) may delegate any of the func19 tions so transferred to such officers and employees of the 

20 office of the official as the official may designate, and may 

21 authorize successive redelegations of such functions as 

22 may be necessary or appropriate. No delegation of func23 tions under this section or under any other provision of 

24 this Act shall relieve the official to whom a function is 


srobinson on DSK4SPTVN1PROD with BILLS
8 

•HR 4268 IH

1 transferred under this Act of responsibility for the admin2 istration of the function. 

3 SEC. 11. AUTHORITY OF THE SECRETARY OF THE TREAS4 URY WITH RESPECT TO FUNCTIONS TRANS5 FERRED. 

6 (a) DETERMINATIONS.—If necessary, the Secretary 

7 shall make any determination of the functions that are 

8 transferred under this Act. 

9 (b) INCIDENTAL TRANSFERS.—The Secretary, at 

10 such time or times as the Secretary shall provide, may 

11 make such determinations as may be necessary with re12 gard to the functions transferred by this Act, and to make 

13 such additional incidental dispositions of personnel, assets, 

14 liabilities, grants, contracts, property, records, and unex15 pended balances of appropriations, authorizations, alloca16 tions, and other funds held, used, arising from, available 

17 to, or to be made available in connection with such func18 tions, as may be necessary to carry out the provisions of 

19 this Act. 

20 SEC. 12. SAVINGS PROVISIONS. 

21 (a) LEGAL DOCUMENTS.—All orders, determinations, 

22 rules, regulations, permits, grants, loans, contracts, agree23 ments, certificates, licenses, and privileges— 

24 (1) that have been issued, made, granted, or al25 lowed to become effective by the President, the 


srobinson on DSK4SPTVN1PROD with BILLS
9 

•HR 4268 IH

1 Bank, any officer or employee of any office trans2 ferred by this Act, or any other Government official, 

3 or by a court of competent jurisdiction, in the per4 formance of any function that is transferred by this 

5 Act, and 

6 (2) that are in effect on the effective date of the 

7 transfer (or become effective after such date pursu8 ant to their terms as in effect on such effective 

9 date), 

10 shall continue in effect according to their terms until 

11 modified, terminated, superseded, set aside, or revoked in 

12 accordance with law by the President, any other author13 ized official, a court of competent jurisdiction, or operation 

14 of law. 

15 (b) PROCEEDINGS.—This Act shall not affect any 

16 proceedings or any application for any benefits, service, 

17 license, permit, certificate, or financial assistance pending 

18 on the date of the enactment of this Act before an office 

19 transferred by this Act, but such proceedings and applica20 tions shall be continued. Orders shall be issued in such 

21 proceedings, appeals shall be taken therefrom, and pay22 ments shall be made pursuant to such orders, as if this 

23 Act had not been enacted, and orders issued in any such 

24 proceeding shall continue in effect until modified, termi25 nated, superseded, or revoked by a duly authorized official, 


srobinson on DSK4SPTVN1PROD with BILLS
10 

•HR 4268 IH

1 by a court of competent jurisdiction, or by operation of 

2 law. Nothing in this subsection shall be considered to pro3 hibit the discontinuance or modification of any such pro4 ceeding under the same terms and conditions and to the 

5 same extent that such proceeding could have been discon6 tinued or modified if this Act had not been enacted. 

7 (c) SUITS.—This Act shall not affect suits com8 menced before the date of the enactment of this Act, and 

9 in all such suits, proceeding shall be had, appeals taken, 

10 and judgments rendered in the same manner and with the 

11 same effect as if this Act had not been enacted. 

12 (d) NONABATEMENT OF ACTIONS.—No suit, action, 

13 or other proceeding commenced by or against an office 

14 transferred by this Act, or by or against any individual 

15 in the official capacity of such individual as an officer or 

16 employee of such an office, shall abate by reason of the 

17 enactment of this Act. 

18 (e) CONTINUANCE OF SUITS.—If any Government of19 ficer in the official capacity of such officer is party to a 

20 suit with respect to a function of the officer, and under 

21 this Act such function is transferred to any other officer 

22 or office, then such suit shall be continued with the other 

23 officer or the head of such other office, as applicable, sub24 stituted or added as a party. 


srobinson on DSK4SPTVN1PROD with BILLS
11 

•HR 4268 IH

1 (f) ADMINISTRATIVE PROCEDURE AND JUDICIAL RE2 VIEW.—Except as otherwise provided by this Act, any 

3 statutory requirements relating to notice, hearings, action 

4 upon the record, or administrative or judicial review that 

5 apply to any function transferred by this Act shall apply 

6 to the exercise of such function by the head of the Federal 

7 agency, and other officers of the agency, to which such 

8 function is transferred by this Act. 

9 SEC. 13. AVAILABILITY OF EXISTING FUNDS. 

10 Existing appropriations and funds available for the 

11 performance of functions, programs, and activities termi12 nated pursuant to this Act shall remain available, for the 

13 duration of their period of availability, for necessary ex14 penses in connection with the termination and resolution 

15 of such functions, programs, and activities. 

16 SEC. 14. CONFORMING AMENDMENTS AND REPEALS. 

17 (a) REPEAL OF PRIMARY AUTHORIZING STATUTE.— 

18 The Export-Import Bank Act of 1945 (12 U.S.C. 635— 

19 635i–9) is hereby repealed. 

20 (b) ELIMINATION OF RELATED AUTHORIZING PROVI21 SIONS.— 

22 (1) Section 103 of the International Develop23 ment and Finance Act of 1989 (12 U.S.C. 635 note; 

24 Public Law 101–240) is hereby repealed. 


srobinson on DSK4SPTVN1PROD with BILLS
12 

•HR 4268 IH

1 (2) Section 303 of the Support for East Euro2 pean Democracy (SEED) Act of 1989 (12 U.S.C. 

3 635 note; Public Law 101–179) is hereby repealed. 

4 (3) Section 1908 of the Export-Import Bank 

5 Act Amendments of 1978 (12 U.S.C. 635a–1) is 

6 amended— 

7 (A) by striking ‘‘(a)’’; and 

8 (B) by striking subsection (b). 

9 (4) Sections 1911 and 1912 of the Export-Im10 port Bank Act Amendments of 1978 (12 U.S.C. 

11 635a–2 and 635a–3) are hereby repealed. 

12 (5) Section 206 of the Bank Export Services 

13 Act (12 U.S.C. 635a–4) is hereby repealed. 

14 (6) Sections 1 through 5 of Public Law 90–390 

15 (12 U.S.C. 635j through 635n) are hereby repealed. 

16 (7) Sections 641 through 647 of the Trade and 

17 Development Enhancement Act of 1983 (12 U.S.C. 

18 635o–635t) are hereby repealed. 

19 (8) Section 534 of the Foreign Operations, Ex20 port Financing, and Related Programs Appropria21 tions Act, 1990 (12 U.S.C. 635g note; Public Law 

22 101–167) is amended by striking subsection (d). 

23 (9) Section 3302 of the Omnibus Trade and 

24 Competitiveness Act of 1988 (12 U.S.C. 635i–3 


srobinson on DSK4SPTVN1PROD with BILLS
13 

•HR 4268 IH

1 note; Public Law 100–418) is amended by striking 

2 subsection (a). 

3 (10) Section 1105(a) of title 31, United States 

4 Code, is amended by striking paragraph (34) and re5 designating the succeeding paragraphs of such sec6 tion as paragraphs (34) through (38), respectively. 

7 (11) Section 9101(3) of title 31, United States 

8 Code, is amended by striking subparagraph (C). 

9 (c) ELIMINATION OF RELATED COMPENSATION PRO10 VISIONS.— 

11 (1) POSITION AT LEVEL III.—Section 5314 of 

12 title 5, United States Code, is amended by striking 

13 the following item: 

14 ‘‘President of the Export-Import Bank of Wash15 ington.’’. 

16 (2) POSITIONS AT LEVEL IV.—Section 5315 of 

17 title 5, United States Code, is amended— 

18 (A) by striking the following item: 

19 ‘‘First Vice President of the Export-Import Bank of 

20 Washington.’’; and 

21 (B) by striking the following item: 

22 ‘‘Members, Board of Directors of the Export-Import 

23 Bank of Washington.’’. 


srobinson on DSK4SPTVN1PROD with BILLS
14 

•HR 4268 IH

1 (d) ELIMINATION OF OFFICE OF INSPECTOR GEN2 ERAL FOR THE BANK.—Section 12 of the Inspector Gen3 eral Act of 1978 (5 U.S.C. App.) is amended— 

4 (1) in paragraph (1), by striking ‘‘the President 

5 of the Export-Import Bank;’’; and 

6 (2) in paragraph (2), by striking ‘‘the Export7 Import Bank,’’. 

8 (e) EFFECTIVE DATE.—The repeals and amend9 ments made by this section shall take effect on the abolish10 ment date. 

11 (f) REPORT TO THE CONGRESS ON OTHER AMEND12 MENTS TO FEDERAL STATUTE.—The Secretary shall sub13 mit to the Committee on Financial Services of the House 

14 of Representatives and the Committee on Banking, Hous15 ing, and Urban Affairs of the Senate a written report that 

16 contains suggestions for such other amendments to Fed17 eral statutes as may be necessary or appropriate as a re18 sult of this Act. 

19 SEC. 15. REFERENCES. 

20 Any reference in any other Federal law, Executive 

21 order, rule, regulation, or delegation of authority, or any 

22 document of or pertaining to a department or office from 

23 which a function is transferred by this Act— 


srobinson on DSK4SPTVN1PROD with BILLS
15 

•HR 4268 IH

1 (1) to the head of such department or office is 

2 deemed to refer to the head of the department or of3 fice to which the function is transferred; or 

4 (2) to such department or office is deemed to 

5 refer to the department or office to which the func6 tion is transferred. 

7 SEC. 16. DEFINITIONS. 

8 In this Act: 

9 (1) FUNCTION.—The term ‘‘function’’ includes 

10 any duty, obligation, power, authority, responsibility, 

11 right, privilege, activity, or program. 

12 (2) OFFICE.—The term ‘‘office’’ includes any 

13 office, administration, agency, bureau, institute, 

14 council, unit, organizational entity, or component 

15 thereof. 

Æ 


srobinson on DSK4SPTVN1PROD with BILLS