107TH CONGRESS

2D SESSION S. 1372

AN ACT

To reauthorize the Export-Import Bank of the United States.

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 Reauthorization Act of 2001’’.
2

S 1372 ES

1 SEC. 2. EXTENSION OF AUTHORITY.

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

3 (12 U.S.C. 635f) is amended by striking ‘‘2001’’ and in4 serting ‘‘2006’’.

5 SEC. 3. SUB-SAHARAN AFRICA ADVISORY COMMITTEE.

6 Section 2(b)(9)(B)(iii) of the Export-Import Bank

7 Act of 1945 (12 U.S.C. 635(b)(9)(B)(iii)) is amended to

8 read as follows:

9 ‘‘(iii) The sub-Saharan Africa advisory com10 mittee shall terminate on September 30, 2006.’’.

11 SEC. 4. GUARANTEES, INSURANCE, EXTENSION OF CREDIT.

12 Section 2(b)(1)(A) of the Export-Import Bank Act

13 of 1945 (12 U.S.C. 635(b)(1)(A)) is amended—

14 (1) in the fourth sentence, by striking ‘‘on an

15 annual basis’’ and inserting ‘‘not later than June 30

16 each year’’;

17 (2) in the fifth sentence, by inserting ‘‘(includ18 ing through use of market windows)’’ after ‘‘United

19 States exporters’’; and

20 (3) by inserting after the fifth sentence, the fol21 lowing new sentence: ‘‘With respect to the pro22 ceeding sentence, the Bank shall use all available in23 formation to estimate the annual amount of export

24 financing available from other governments and gov25 ernment-related agencies.’’.
3

S 1372 ES

1 SEC. 5. FINANCING FOR SMALL BUSINESS.

2 Section 2(b)(1)(E)(v) of the Export-Import Bank Act

3 of 1945 (12 U.S.C. 635(b)(1)(E)(v)) is amended by strik4 ing ‘‘10’’ and inserting ‘‘18’’.

5 SEC. 6. MARKET WINDOWS.

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

7 et seq.) is amended by adding at the end the following

8 new section:

9 ‘‘SEC. 15. MARKET WINDOWS.

10 ‘‘(a) ENHANCED TRANSPARENCY.—To ensure that

11 the Bank financing remains fully competitive, the United

12 States should seek enhanced transparency over the activi13 ties of market windows in the OECD Export Credit Ar14 rangement. If such transparency indicates that market

15 windows are disadvantaging United States exporters, the

16 United States should seek negotiations for multilateral

17 disciplines and transparency within the OECD Export

18 Credit Arrangement.

19 ‘‘(b) AUTHORIZATION.—The Bank is authorized to

20 provide financing on terms and conditions that are incon21 sistent with those permitted under the OECD Export

22 Credit Arrangement—

23 ‘‘(1) to match financing terms and conditions

24 that are being offered by market windows on terms

25 that are inconsistent with those permitted under the

26 OECD Export Credit Arrangement, if—
4

S 1372 ES

1 ‘‘(A) matching such terms and conditions

2 advances the negotiations for multilateral dis3 ciplines and transparency within the OECD Ex4 port Credit Arrangement; or

5 ‘‘(B) transparency verifies that the market

6 window financing is being offered on terms that

7 are more favorable than the terms and condi8 tions that are available from private financial

9 markets; and

10 ‘‘(2) when the foreign government-supported in11 stitution refuses to provide sufficient transparency

12 to permit the Bank to make a determination under

13 paragraph (1).

14 ‘‘(c) DEFINITION.—In this section, the term ‘OECD’

15 means the Organization for Economic Cooperation and

16 Development.’’.

17 SEC. 7. INSPECTOR GENERAL OF THE EXPORT-IMPORT

18 BANK.

19 (a) ESTABLISHMENT OF POSITION.—Section 11 of

20 the Inspector General Act of 1978 (5 U.S.C. App.) is

21 amended—

22 (1) in paragraph (1), by striking ‘‘or the Board

23 of Directors of the Tennessee Valley Authority;’’ and

24 inserting ‘‘the Board of Directors of the Tennessee
5

S 1372 ES

1 Valley Authority; or the President of the Export-Im2 port Bank;’’; and

3 (2) in paragraph (2), by striking ‘‘or the Ten4 nessee Valley Authority;’’ and inserting ‘‘the Ten5 nessee Valley Authority, or the Export-Import

6 Bank,’’.

7 (b) SPECIAL PROVISIONS.—The Inspector General

8 Act of 1978 is amended—

9 (1) by redesignating section 8I as section 8J

10 and inserting after section 8H the following new sec11 tion:

12 ‘‘§ 8I. Special Provisions Relating to the Export-Im13 port Bank of the United States

14 ‘‘(a) IN GENERAL.—The Inspector General of the

15 Export-Import Bank shall not prevent or prohibit the

16 Audit Committee from initiating, carrying out, or com17 pleting any audit or investigation or undertaking any

18 other activities in the performance of the duties and re19 sponsibilities of the Audit Committee, including auditing

20 the financial statements of the Export-Import Bank, de21 termining when it is appropriate to use independent exter22 nal auditors, and selecting independent external auditors.

23 In carrying out the duties and responsibilities of Inspector

24 General, the Inspector General of the Export-Import Bank

25 shall not be prevented or prohibited from initiating, car-
6

S 1372 ES

1 rying out, or completing any audit or investigation, or

2 from issuing any subpoena during the course of any audit

3 or investigation. The Audit Committee shall make avail4 able to the Inspector General of the Export-Import Bank

5 the reports of all audits the Committee undertakes in the

6 discharge of its duties and responsibilities.

7 ‘‘(b) AUDIT COMMITTEE.—For purposes of this sec8 tion, the term ‘Audit Committee’ means the Audit Com9 mittee of the Board of Directors of the Export-Import

10 Bank or any successor thereof.’’;

11 (2) in section 8J (as redesignated), by striking

12 ‘‘or 8H of this Act’’ and inserting ‘‘8H, or 8I of this

13 Act’’.

14 (c) EXECUTIVE LEVEL IV.—Section 5315 of title 5,

15 United States Code, is amended by inserting after the

16 item relating to the Inspector General of the Environ17 mental Protection Agency the following:

18 ‘‘Inspector General, Export-Import Bank.’’.

19 (d) INITIAL IMPLEMENTATION.—Section 9(a)(2) of

20 the Inspector General Act of 1978 is amended by inserting

21 ‘‘to the Office of the Inspector General,’’ after ‘‘(2)’’.

22 (e) TECHNICAL CORRECTIONS.—Section 11 of the

23 Inspector General Act of 1978 is amended—

24 (1) in paragraph (1)—
7

S 1372 ES

1 (A) by striking the second semicolon after

2 ‘‘Community Service’’;

3 (B) by striking ‘‘and’’ after ‘‘Financial In4 stitutions Fund;’’; and

5 (C) by striking ‘‘and’’ after ‘‘Trust Cor6 poration;’’; and

7 (2) in paragraph (2), by striking the second

8 comma after ‘‘Community Service’’.

9 (f) EFFECTIVE DATE.—The amendments made by

10 this section shall take effect on October 1, 2002.

Passed the Senate March 14, 2002.

Attest:

Secretary.

107TH CONGRESS

2D SESSION S. 1372

AN ACT

To reauthorize the Export-Import Bank of the

United States.