I 

113TH CONGRESS 

1ST SESSION H. R. 2263 

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

purposes. 

IN THE HOUSE OF REPRESENTATIVES 

JUNE 5, 2013 

Mr. AMASH (for himself, Mr. MCCLINTOCK, and Mr. MASSIE) 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’’. 

6 SEC. 2. FINDINGS. 

7 The Congress finds as follows: 

8 (1) Export subsidies provide advantages to spe9 cific industries or businesses at the expense of their 


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1 domestic competition, other sectors of the United 

2 States economy, and the public at large. 

3 (2) Banks and other financial institutions that 

4 provide trade facilitation credit also profit from ex5 port subsidies such as loan guarantees and trade in6 surance. 

7 (3) International trade finance is well developed 

8 and supplied by the private sector at competitive 

9 rates that reflect market conditions. 

10 (4) The Export-Import Bank of the United 

11 States is an agency of the United States Govern12 ment that subsidizes exports by insuring or guaran13 teeing trade facilitation loans and other credit from 

14 private financial institutions and by providing direct 

15 loans to United States exporters. 

16 (5) Export subsidies impose risks on United 

17 States taxpayers. In a June 2012 paper using accu18 rate, fair value estimation, the Congressional Budget 

19 Office found that the expected return of the Export20 Import Bank of the United States was less than a 

21 tenth of the estimate under the current, flawed 

22 methodology used pursuant to the Federal Credit 

23 Reform Act of 1990. 

24 (6) Recent years have revealed other ‘‘safe’’ 

25 Federal credit programs to have large taxpayer 


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1 costs, for example, Freddie Mac, Fannie Mae, and 

2 the Federal Housing Administration. 

3 (7) The Export-Import Bank of the United 

4 States claims to serve small businesses primarily, 

5 but most of its financing subsidizes exports of large 

6 multinational corporations. 

7 SEC. 3. REDUCTIONS OF AUTHORITIES BEFORE ABOLISH8 MENT. 

9 Notwithstanding any other provision of law: 

10 (1) TERMINATION OF AUTHORITY TO ACCEPT

11 APPLICATIONS FOR ASSISTANCE.—The Export-Im12 port Bank of the United States (in this Act referred 

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

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

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

16 30-day period that begins with the date of the enact17 ment of this Act. 

18 (2) TERMINATION OF AUTHORITY TO RENEW

19 OR ENTER INTO A CONTRACT FOR THE PROVISION

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

21 renew or enter into a contract which would obligate 

22 the Bank to provide a loan, insurance, or a guar23 antee, or participate in an extension of credit by an24 other entity, after the 12-month period that begins 

25 with such date of enactment. 


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1 SEC. 4. ABOLISHMENT OF EXPORT-IMPORT BANK OF THE 

2 UNITED STATES. 

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

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

5 (2) TRANSFER OF FUNCTIONS.—All functions 

6 that, immediately before the abolishment date are 

7 authorized to be performed by the Bank, the Board 

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

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

10 office of the Bank, are transferred to the Secretary 

11 of the Treasury (in this Act referred to as the ‘‘Sec12 retary’’). 

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

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

15 after the date of the enactment of this Act. 

16 SEC. 5. RESOLUTION AND TERMINATION OF BANK FUNC17 TIONS. 

18 (a) RESOLUTION OF FUNCTIONS.—The Secretary 

19 shall— 

20 (1) complete the disposition and resolution of 

21 functions of the Bank in accordance with this Act; 

22 and 

23 (2) resolve all functions that are transferred to 

24 the Secretary under section 4(a)(2). 

25 (b) TERMINATION OF FUNCTIONS.—All functions 

26 that are transferred to the Secretary under section 4(a)(2) 


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

2 and all obligations of others to the Bank, in effect imme3 diately before the abolishment date have been satisfied, as 

4 determined by the Secretary. 

5 (c) REPORT TO THE CONGRESS.—When the Sec6 retary makes the determination described in subsection 

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

8 Committee on Financial Services of the House of Rep9 resentatives and the Committee on Banking, Housing, and 

10 Urban Affairs of the Senate. 

11 SEC. 6. DUTIES OF THE SECRETARY OF THE TREASURY. 

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

13 for the implementation of this Act, including— 

14 (1) the administration and wind-up of all func15 tions transferred to the Secretary under section 

16 4(a)(2); 

17 (2) the administration and wind-up of any out18 standing obligations of the Federal Government 

19 under any programs terminated by this Act; and 

20 (3) taking such other actions as may be nec21 essary to wind-up any outstanding affairs of the 

22 Bank. 

23 (b) DELEGATION OF FUNCTIONS.—The Secretary 

24 may delegate to any other Federal department or agency 

25 head the performance of the functions of the Secretary 


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

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

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

4 connection with any delegation of functions under sub5 section (b), the Secretary may transfer to the department 

6 or agency concerned such assets, funds, personnel, 

7 records, and other property relating to the delegated func8 tion as the Secretary determines to be appropriate. 

9 (d) AUTHORITIES OF THE SECRETARY.—For pur10 poses of performing the functions of the Secretary under 

11 this Act and subject to the availability of appropriations, 

12 the Secretary may— 

13 (1) enter into contracts; 

14 (2) employ experts and consultants in accord15 ance with section 3109 of title 5, United States 

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

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

18 Executive Schedule; and 

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

20 facilities, and personnel of other Federal agencies. 

21 SEC. 7. PERSONNEL. 

22 Effective on the abolishment date, there are trans23 ferred to the Department of the Treasury all individuals, 

24 other than members of the Board of Directors of the 

25 Bank, who— 


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1 (1) immediately before the abolishment date, 

2 were officers or employees of the Bank; and 

3 (2) in their capacity as such an officer or em4 ployee, performed functions that are transferred to 

5 the Secretary under section 4(a)(2). 

6 SEC. 8. TRANSFER OF INSPECTOR GENERAL DUTIES. 

7 (a) TERMINATION OF THE OFFICE OF INSPECTOR

8 GENERAL FOR THE EXPORT-IMPORT BANK OF THE

9 UNITED STATES.—Notwithstanding any other provision 

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

11 terminate on the abolishment date, and the assets and ob12 ligations of the Office shall be transferred to the Office 

13 of the Inspector General for the Department of the Treas14 ury or otherwise disposed of. 

15 (b) AUTHORITY AND RESPONSIBILITY FOR TRANS16 FER OR DISPOSAL.—The Secretary shall have the author17 ity and responsibility for transfer or disposal under sub18 section (a). 

19 (c) SAVINGS PROVISION.—The provisions of this sec20 tion shall not affect the performance of any pending audit, 

21 investigation, inspection, or report by the Office of the In22 spector General for the Bank as of the abolishment date, 

23 with respect to functions transferred by this section. Noth24 ing in this subsection shall be deemed to prohibit the dis25 continuance or modification of any performance under the 


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1 same terms and conditions and to the same extent that 

2 such performance could have been discontinued or modi3 fied if this section had not been enacted. 

4 SEC. 9. EXERCISE OF AUTHORITIES. 

5 Except as otherwise provided by law, a Federal offi6 cial to whom a function is transferred by this Act may, 

7 for purposes of performing the function, exercise all au8 thorities under any other provision of law that were avail9 able with respect to the performance of that function to 

10 the official responsible for the performance of the function 

11 immediately before the effective date of the transfer of the 

12 function under this Act. 

13 SEC. 10. TRANSFER OF ASSETS. 

14 Except as otherwise provided in this Act, so much 

15 of the personnel, property, records, and unexpended bal16 ances of appropriations, allocations, and other funds em17 ployed, used, held, available, or to be made available in 

18 connection with a function transferred to an official or 

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

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

21 as the Director of the Office of Management and Budget 

22 directs for use in connection with the functions trans23 ferred. 


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1 SEC. 11. DELEGATION AND ASSIGNMENT. 

2 Except as otherwise expressly prohibited by law, an 

3 official to whom functions are transferred under this Act 

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

5 transferred under this Act) may delegate any of the func6 tions so transferred to such officers and employees of the 

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

8 authorize successive redelegations of such functions as 

9 may be necessary or appropriate. No delegation of func10 tions under this section or under any other provision of 

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

12 transferred under this Act of responsibility for the admin13 istration of the function. 

14 SEC. 12. AUTHORITY OF THE SECRETARY OF THE TREAS15 URY WITH RESPECT TO FUNCTIONS TRANS16 FERRED. 

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

18 shall make any determination of the functions that are 

19 transferred under this Act. 

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

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

22 make such determinations as may be necessary with re23 gard to the functions transferred by this Act, and to make 

24 such additional incidental dispositions of personnel, assets, 

25 liabilities, grants, contracts, property, records, and unex26 pended balances of appropriations, authorizations, allocaVerDate Mar 15 2010 07:01 Jun 06, 2013 Jkt 029200 PO 00000 Frm 00009 Fmt 6652 Sfmt 6201 E:\BILLS\H2263.IH H2263

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1 tions, and other funds held, used, arising from, available 

2 to, or to be made available in connection with such func3 tions, as may be necessary to carry out the provisions of 

4 this Act. 

5 SEC. 13. SAVINGS PROVISIONS. 

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

7 rules, regulations, permits, grants, loans, contracts, agree8 ments, certificates, licenses, and privileges— 

9 (1) that have been issued, made, granted, or al10 lowed to become effective by the President, the 

11 Bank, any officer or employee of any office trans12 ferred by this Act, or any other Government official, 

13 or by a court of competent jurisdiction, in the per14 formance of any function that is transferred by this 

15 Act, and 

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

17 transfer (or become effective after such date pursu18 ant to their terms as in effect on such effective 

19 date), 

20 shall continue in effect according to their terms until 

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

22 accordance with law by the President, any other author23 ized official, a court of competent jurisdiction, or operation 

24 of law. 


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

2 proceedings or any application for any benefits, service, 

3 license, permit, certificate, or financial assistance pending 

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

5 transferred by this Act, but such proceedings and applica6 tions shall be continued. Orders shall be issued in such 

7 proceedings, appeals shall be taken therefrom, and pay8 ments shall be made pursuant to such orders, as if this 

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

10 proceeding shall continue in effect until modified, termi11 nated, superseded, or revoked by a duly authorized official, 

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

13 law. Nothing in this subsection shall be considered to pro14 hibit the discontinuance or modification of any such pro15 ceeding under the same terms and conditions and to the 

16 same extent that such proceeding could have been discon17 tinued or modified if this Act had not been enacted. 

18 (c) SUITS.—This Act shall not affect suits com19 menced before the date of the enactment of this Act, and 

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

21 and judgments rendered in the same manner and with the 

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

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

24 or other proceeding commenced by or against an office 

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


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

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

3 enactment of this Act. 

4 (e) CONTINUANCE OF SUITS.—If any Government of5 ficer in the official capacity of such officer is party to a 

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

7 this Act such function is transferred to any other officer 

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

9 officer or the head of such other office, as applicable, sub10 stituted or added as a party. 

11 (f) ADMINISTRATIVE PROCEDURE AND JUDICIAL RE12 VIEW.—Except as otherwise provided by this Act, any 

13 statutory requirements relating to notice, hearings, action 

14 upon the record, or administrative or judicial review that 

15 apply to any function transferred by this Act shall apply 

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

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

18 function is transferred by this Act. 

19 SEC. 14. AVAILABILITY OF EXISTING FUNDS. 

20 Existing appropriations and funds available for the 

21 performance of functions, programs, and activities termi22 nated pursuant to this Act shall remain available, for the 

23 duration of their period of availability, for necessary ex24 penses in connection with the termination and resolution 

25 of such functions, programs, and activities. 


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1 SEC. 15. CONFORMING AMENDMENTS AND REPEALS. 

2 (a) REPEAL OF PRIMARY AUTHORIZING STATUTE.— 

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

4 635i–9) is hereby repealed. 

5 (b) ELIMINATION OF RELATED AUTHORIZING PROVI6 SIONS.— 

7 (1) Section 103 of the International Develop8 ment and Finance Act of 1989 (12 U.S.C. 635 note; 

9 Public Law 101–240) is hereby repealed. 

10 (2) Section 303 of the Support for East Euro11 pean Democracy (SEED) Act of 1989 (12 U.S.C. 

12 635 note; Public Law 101–179) is hereby repealed. 

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

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

15 amended— 

16 (A) by striking ‘‘(a)’’; and 

17 (B) by striking subsection (b). 

18 (4) Sections 1911 and 1912 of the Export-Im19 port Bank Act Amendments of 1978 (12 U.S.C. 

20 635a–2 and 635a–3) are hereby repealed. 

21 (5) Section 206 of the Bank Export Services 

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

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

24 (12 U.S.C. 635j through 635n) are hereby repealed. 


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

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

3 635o–635t) are hereby repealed. 

4 (8) Section 534 of the Foreign Operations, Ex5 port Financing, and Related Programs Appropria6 tions Act, 1990 (12 U.S.C. 635g note; Public Law 

7 101–167) is amended by striking subsection (d). 

8 (9) Section 3302 of the Omnibus Trade and 

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

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

11 subsection (a). 

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

13 Code, is amended by striking paragraph (34) and re14 designating the succeeding paragraphs of such sec15 tion as paragraphs (34) through (38), respectively. 

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

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

18 (c) ELIMINATION OF RELATED COMPENSATION PRO19 VISIONS.— 

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

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

22 the following item: 

23 ‘‘President of the Export-Import Bank of Wash24 ington.’’. 


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

2 title 5, United States Code, is amended— 

3 (A) by striking the following item: 

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

5 Washington.’’; and 

6 (B) by striking the following item: 

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

8 Bank of Washington.’’. 

9 (d) ELIMINATION OF OFFICE OF INSPECTOR GEN10 ERAL FOR THE BANK.—Section 12 of the Inspector Gen11 eral Act of 1978 (5 U.S.C. App.) is amended— 

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

13 of the Export-Import Bank;’’; and 

14 (2) in paragraph (2), by striking ‘‘the Export15 Import Bank,’’. 

16 (e) EFFECTIVE DATE.—The repeals and amend17 ments made by this section shall take effect on the abolish18 ment date. 

19 (f) REPORT TO THE CONGRESS ON OTHER AMEND20 MENTS TO FEDERAL STATUTE.—The Secretary shall sub21 mit to the Committee on Financial Services of the House 

22 of Representatives and the Committee on Banking, Hous23 ing, and Urban Affairs of the Senate a written report that 

24 contains suggestions for such other amendments to FedVerDate Mar 15 2010 07:01 Jun 06, 2013 Jkt 029200 PO 00000 Frm 00015 Fmt 6652 Sfmt 6201 E:\BILLS\H2263.IH H2263

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1 eral statutes as may be necessary or appropriate as a re2 sult of this Act. 

3 SEC. 16. REFERENCES. 

4 Any reference in any other Federal law, Executive 

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

6 document of or pertaining to a department or office from 

7 which a function is transferred by this Act— 

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

9 deemed to refer to the head of the department or of10 fice to which the function is transferred; or 

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

12 refer to the department or office to which the func13 tion is transferred. 

14 SEC. 17. DEFINITIONS. 

15 In this Act: 

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

17 any duty, obligation, power, authority, responsibility, 

18 right, privilege, activity, or program. 

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

20 office, administration, agency, bureau, institute, 

21 council, unit, organizational entity, or component 

22 thereof. 

Æ 


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