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[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 10323 Introduced in House (IH)]

<DOC>

118th CONGRESS
  2d Session
                               H. R. 10323

To modify the prohibition on financing in the Export-Import Bank of the 
                 United States, and for other purposes.

_______________________________________________________________________

                    IN THE HOUSE OF REPRESENTATIVES

                            December 6, 2024

Mr. Nickel (for himself and Mr. Clyburn) introduced the following bill; 
       which was referred to the Committee on Financial Services

_______________________________________________________________________

                                 A BILL

 
To modify the prohibition on financing in the Export-Import Bank of the 
                 United States, and for other purposes.

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

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Civil Nuclear Export Act of 2024''.

SEC. 2. MODIFICATION OF POWERS AND FUNCTIONS OF THE EXPORT-IMPORT BANK 
              OF THE UNITED STATES.

    Section 2(b)(5) of the Export-Import Bank Act of 1945 (12 U.S.C. 
635(b)(5)) is amended by inserting after the 1st sentence the 
following: ``Notwithstanding clause (C) of the preceding sentence, the 
Bank may guarantee, insure, or extend credit or participate in the 
extension of credit in connection with any purchase of, or work 
associated with the development of, civil nuclear reactors, the export 
of which is otherwise permitted under an agreement made in accordance 
with section 123 of the Atomic Energy Act of 1954 (42 U.S.C. 2153) or 
any other applicable law of the United States.''.

SEC. 3. EXPANSION OF PROGRAM ON CHINA AND TRANSFORMATIONAL EXPORTS.

    Section 2(l)(1)(B) of the Export-Import Bank Act of 1945 (12 U.S.C. 
635(l)(1)(B)) is amended--
            (1) by redesignating clause (xi) as clause (xii); and
            (2) by inserting after clause (x) the following:
                            ``(xi) Civil nuclear reactors, including 
                        equipment, material, technologies, information, 
                        and related goods and services.''.

SEC. 4. NUCLEAR LIABILITY COVERAGE.

    Section 2 of the Export-Import Bank Act of 1945 (12 U.S.C. 635) is 
amended by adding at the end the following:
    ``(m) Nuclear Liability Coverage.--
            ``(1) In general.--If there is a claim determination, the 
        Secretary of the Treasury shall, subject to paragraph (2), pay 
        the claim determination and any related costs from the general 
        fund of the Treasury, if--
                    ``(A) the damage is determined to have resulted 
                from a nuclear incident at a nuclear facility that 
                received financial support from the Bank; and
                    ``(B) the country in which the nuclear facility is 
                located was a party to the Convention on Supplementary 
                Compensation for Nuclear Damage at the time of the 
                initial disbursement of the financial support.
            ``(2) Maximum amount.--Any claim determination or related 
        costs paid under paragraph (1) with respect to a nuclear 
        incident may not exceed, in the aggregate, the maximum amount 
        of indemnification under section 170(d)(2)(B) of the Atomic 
        Energy Act of 1954 (42 U.S.C. 2210(d)(2)(B)) for the nuclear 
        incident (including for this purpose, legal costs approved by 
        the Bank).
            ``(3) Presidential authority to authorize payments.--To the 
        extent that the aggregate amount of claim determinations and 
        related costs resulting from a nuclear incident exceeds the 
        maximum amount described in paragraph (2), the President may 
        authorize, under such terms and conditions as the President may 
        direct, the payment of the claim determinations and related 
        costs, not exceeding an additional aggregate amount equal to 
        the amount set forth in paragraph (2), from the general fund of 
        the Treasury.
            ``(4) Certification to congress.--If a payment is not 
        authorized under paragraph (3) or the total amount of payments 
        so authorized are insufficient to satisfy the aggregate amount 
        of claim determinations, the President shall certify the claim 
        determinations to the Congress for appropriation of the 
        necessary funds.
            ``(5) Interpretation.--In this subsection:
                    ``(A) Claim determination.--The term `claim 
                determination' means a judgment against the Bank or 
                settlement by the Bank resulting from a claim relating 
                to nuclear damage.
                    ``(B) Nuclear damage.--The term `nuclear damage' 
                means any of the following:
                            ``(i) Loss of life or personal injury.
                            ``(ii) Loss of, or damage to, property.
                            ``(iii) To the extent determined by the 
                        relevant court, any of the following:
                                    ``(I) Economic loss arising from 
                                loss or damage referred to in clause 
                                (i) or (ii), insofar as not included in 
                                those clauses, if incurred by a person 
                                entitled to claim in respect of the 
                                loss or damage.
                                    ``(II) The costs of measures to 
                                reinstate impaired environment, unless 
                                the impairment is insignificant, if the 
                                measures are actually taken or to be 
                                taken, and insofar as not included in 
                                clause (ii).
                                    ``(III) Loss of income deriving 
                                from an economic interest in any use or 
                                enjoyment of the environment, incurred 
                                as a result of significant impairment 
                                of the environment, and insofar as not 
                                included in clause (ii).
                                    ``(IV) The costs of preventive 
                                measures, and further loss or damage 
                                caused by the measures.
                                    ``(V) Any other economic loss, if 
                                permitted by the general law on civil 
                                liability law of the country in which 
                                the nuclear incident occurs, to the 
                                extent that the loss or damage arises 
                                out of or results from ionizing 
                                radiation emitted by any source of 
                                radiation inside a nuclear 
                                installation, or emitted from nuclear 
                                fuel or radioactive products or waste 
                                in, or of nuclear material coming from, 
                                originating in, or sent to, a nuclear 
                                installation, whether so arising from 
                                the radioactive properties of such 
                                matter, or from a combination of 
                                radioactive properties with toxic, 
                                explosive, or other hazardous 
                                properties of such matter.
                    ``(C) Nuclear incident.--The term `nuclear 
                incident' means any occurrence or series of occurrences 
                having the same origin which causes nuclear damage or, 
                but only with respect to preventive measures, creates a 
                grave and imminent threat of causing the damage.''.

SEC. 5. MODIFICATION OF LENDING CAP.

    (a) In General.--Section 6(a) of the Export-Import Bank Act of 1945 
(12 U.S.C. 635e(a)) is amended--
            (1) in paragraph (1), by striking ``applicable amount.'' 
        and inserting ``applicable amount, unless the aggregate amount 
        that is in excess of the applicable amount--
                    ``(A) is attributed by the Bank to loans, 
                guarantees, and insurance under the Program on China 
                and Transformational Exports pursuant to section 2(l); 
                and
                    ``(B) does not exceed $50,000,000,000.'';
            (2) in paragraph (3)--
                    (A) in the header, by striking ``2'' and inserting 
                ``4''; and
                    (B) by striking ``2 percent'' each place it appears 
                and inserting ``4 percent''; and
            (3) by adding at the end the following:
            ``(5) Authority to attribute loans, guarantees, and 
        insurance.--The Bank may attribute any loan, guarantee, or 
        insurance issued under the Program on China and 
        Transformational Exports pursuant to section 2(l) toward the 
        aggregate amount that is in excess of the applicable amount 
        described in paragraph (1) of this subsection without regard to 
        the date on which the Bank issued such loan, guarantee, or 
        insurance.''.
    (b) Modification of Monitoring of Default Rates.--Section 8(g) of 
the Export-Import Bank Act of 1945 (12 U.S.C. 635g(g)) is amended--
            (1) in paragraph (3), by striking ``2 percent'' each place 
        it appears and inserting ``4 percent'';
            (2) in paragraph (4)(B), by striking ``2 percent'' and 
        inserting ``4 percent'';
            (3) in paragraph (5)--
                    (A) in the header, by striking ``2'' and inserting 
                ``4''; and
                    (B) by striking ``2 percent'' and inserting ``4 
                percent'';
            (4) in paragraph (6), by striking ``2 percent'' and 
        inserting ``4 percent''; and
            (5) by adding at the end the following:
            ``(7) Exclusion of transactions relating to the program on 
        china and transformational exports.--For the purposes of this 
        subsection, if financing provided under the Program on China 
        and Transformational Exports pursuant to section 2(l) results 
        in the default rate calculated under paragraph (1) of this 
        subsection equaling or exceeding 4 percent, the Bank may 
        exclude such financing, subject to the approval of the Board of 
        Directors.''.
                                 <all>
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