107TH CONGRESS

2D SESSION S. 1372

AMENDMENT

In the House of Representatives, U. S.,

May 1, 2002.

Resolved, That the bill from the Senate (S. 1372) entitled ‘‘An Act to reauthorize the Export-Import Bank of the

United States’’, do pass with the following

AMENDMENT:

Strike out all after the enacting clause and insert:

1 SECTION 1. SHORT TITLE; TABLE OF CONTENTS.

2 (a) SHORT TITLE.—This Act may be cited as the ‘‘Ex3 port-Import Bank Reauthorization Act of 2002’’.

4 (b) TABLE OF CONTENTS.—The table of contents of this

5 Act is as follows:

Sec. 1. Short title; table of contents.

Sec. 2. Clarification that purposes include United States employment.

Sec. 3. Extension of authority.

Sec. 4. Administrative expenses.

Sec. 5. Increase in aggregate loan, guarantee, and insurance authority.

Sec. 6. Activities relating to Africa.

Sec. 7. Small business.

Sec. 8. Technology.

Sec. 9. Tied Aid Credit Fund.

Sec. 10. Expansion of authority to use Tied Aid Credit Fund.

Sec. 11. Renaming of Tied Aid Credit Program and Fund as Export Competitiveness Program and Fund.

Sec. 12. Annual competitiveness report.

Sec. 13. Renewable energy sources.

Sec. 14. GAO reports.

Sec. 15. Human rights.

Sec. 16. Steel.

Sec. 17. Correction of references.

Sec. 18. Authority to deny application for assistance based on fraud or corruption by the applicant.

Sec. 19. Consideration of foreign country helpfulness in efforts to eradicate terrorism.
2

•S 1372 EAH

Sec. 20. Outstanding orders and preliminary injury determinations.

Sec. 21. Sense of the Congress relating to renewable energy targets.

Sec. 22. Requirement that applicants for assistance disclose whether they have

violated the Foreign Corrupt Practices Act; maintenance of list

of violators.

Sec. 23. Sense of the Congress.

1 SEC. 2. CLARIFICATION THAT PURPOSES INCLUDE UNITED

2 STATES EMPLOYMENT.

3 Section 2(a)(1) of the Export-Import Bank Act of 1945

4 (12 U.S.C. 635(a)(1)) is amended by striking the 2nd sen5 tence and inserting the following: ‘‘The objects and purposes

6 of the Bank shall be to aid in financing and to facilitate

7 exports of goods and services, imports, and the exchange of

8 commodities and services between the United States or any

9 of its territories or insular possessions and any foreign

10 country or the agencies or nationals of any such country,

11 and in so doing to contribute to the employment of United

12 States workers. To further meet the objective set forth in

13 the preceding sentence, the Bank shall ensure that its loans,

14 guarantees, insurance, and credits are contributing to

15 maintaining or increasing employment of United States

16 workers.’’.

17 SEC. 3. EXTENSION OF AUTHORITY.

18 Section 7 of the Export-Import Bank Act of 1945 (12

19 U.S.C. 635f) and section 1(c) of Public Law 103–428 (12

20 U.S.C. 635 note; 108 Stat. 4376) are each amended by strik21 ing ‘‘2001’’ and inserting ‘‘2005’’.
3

•S 1372 EAH

1 SEC. 4. ADMINISTRATIVE EXPENSES.

2 (a) LIMITATIONS ON AUTHORIZATION OF APPROPRIA3 TIONS.—Section 3 of the Export-Import Bank Act of 1945

4 (12 U.S.C. 635a) is amended by adding at the end the fol5 lowing:

6 ‘‘(f) LIMITATIONS ON AUTHORIZATION OF APPROPRIA7 TIONS FOR ADMINISTRATIVE EXPENSES.—

8 ‘‘(1) IN GENERAL.—For administrative expenses

9 incurred by the Bank, including technology-related

10 expenses to carry out section 2(b)(1)(E)(x), there are

11 authorized to be appropriated to the Bank not more

12 than—

13 ‘‘(A) for fiscal year 2002, $80,000,000; and

14 ‘‘(B) for each of fiscal years 2003 through

15 2005, the amount authorized by this paragraph

16 to be appropriated for the then preceding fiscal

17 year, increased by the inflation percentage (as

18 defined in section 6(a)(2)(B)) applicable to the

19 then current fiscal year.

20 ‘‘(2) OUTREACH TO SMALL BUSINESSES WITH

21 FEWER THAN 100 EMPLOYEES.—Of the amount appro22 priated pursuant to paragraph (1), there shall be

23 available for outreach to small business concerns (as

24 defined under section 3 of the Small Business Act)

25 employing fewer than 100 employees, not more

26 than—
4

•S 1372 EAH

1 ‘‘(A) $2,000,000 for fiscal year 2002; and

2 ‘‘(B) for each of fiscal years 2003 through

3 2005, the amount required by this paragraph to

4 be made available for the then preceding fiscal

5 year, increased by the inflation percentage (as

6 defined in section 6(a)(2)(B)) applicable to the

7 then current fiscal year.’’.

8 (b) REQUIRED BUDGET SUBCATEGORIES.—Section

9 1105(a) of title 31, United States Code, is amended by add10 ing at the end the following:

11 ‘‘(34) with respect to the amount of appropria12 tions requested for use by the Export-Import Bank of

13 the United States, a separate statement of the amount

14 requested for its program budget, the amount re15 quested for its administrative expenses, and of the

16 amount requested for its administrative expenses, the

17 amount requested for technology expenses and the

18 amount requested for expenses for outreach to small

19 business concerns (as defined under section 3 of the

20 Small Business Act) employing fewer than 100 em21 ployees.’’.

22 (c) SENSE OF THE CONGRESS ON THE IMPORTANCE

23 OF TECHNOLOGY IMPROVEMENTS.—

24 (1) FINDINGS.—The Congress finds that—
5

•S 1372 EAH

1 (A) the Export-Import Bank of the United

2 States is in great need of technology improve3 ments;

4 (B) part of the amount budgeted for admin5 istrative expenses of the Export-Import Bank is

6 used for technology initiatives and systems up7 grades for computer hardware and software pur8 chases;

9 (C) the Export-Import Bank is falling be10 hind its foreign competitor export credit agen11 cies’ proactive technology improvements;

12 (D) small businesses disproportionately ben13 efit from improvements in technology;

14 (E) small businesses need Export-Import

15 Bank technology improvements in order to ex16 port transactions quickly, with as great paper

17 ease as possible, and with a quick Bank turn18 around time that does not overstrain the tight

19 resources of such businesses;

20 (F) the Export-Import Bank intends to de21 velop a number of e-commerce initiatives aimed

22 at improving customer service, including web23 based application and claim filing procedures

24 which would reduce processing time, speed pay25 ment of claims, and increase staff efficiency;
6

•S 1372 EAH

1 (G) the Export-Import Bank is beginning

2 the process of moving insurance applications

3 from an outdated mainframe system to a mod4 ern, web-enabled database, with new

5 functionality including credit scoring, portfolio

6 management, work flow and e-commerce features

7 to be added; and

8 (H) the Export-Import Bank wants to con9 tinue its e-commerce strategy, including web site

10 development, expanding online applications and

11 establishing a public/private sector technology

12 partnership.

13 (2) SENSE OF THE CONGRESS.—The Congress

14 emphasizes the importance of technology improve15 ments for the Export-Import Bank of the United

16 States, which are of particular importance for small

17 businesses.

18 SEC. 5. INCREASE IN AGGREGATE LOAN, GUARANTEE, AND

19 INSURANCE AUTHORITY.

20 Section 6(a) of the Export-Import Bank Act of 1945

21 (12 U.S.C. 635e(a)) is amended to read as follows:

22 ‘‘(a) LIMITATION ON OUTSTANDING AMOUNTS.—

23 ‘‘(1) IN GENERAL.—The Export-Import Bank of

24 the United States shall not have outstanding at any
7

•S 1372 EAH

1 one time loans, guarantees, and insurance in an ag2 gregate amount in excess of the applicable amount.

3 ‘‘(2) APPLICABLE AMOUNT.—

4 ‘‘(A) IN GENERAL.—In paragraph (1), the

5 term ‘applicable amount’ means—

6 ‘‘(i) during fiscal year 2002,

7 $100,000,000,000, increased by the inflation

8 percentage applicable to fiscal year 2002;

9 ‘‘(ii) during fiscal year 2003,

10 $110,000,000,000, increased by the inflation

11 percentage applicable to fiscal year 2003;

12 ‘‘(iii) during fiscal year 2004,

13 $120,000,000,000, increased by the inflation

14 percentage applicable to fiscal year 2004;

15 and

16 ‘‘(iv) during fiscal year 2005,

17 $130,000,000,000, increased by the inflation

18 percentage applicable to fiscal year 2005.

19 ‘‘(B) INFLATION PERCENTAGE.—For pur20 poses of subparagraph (A) of this paragraph, the

21 inflation percentage applicable to any fiscal year

22 is the percentage (if any) by which—

23 ‘‘(i) the average of the Consumer Price

24 Index (as defined in section 1(f)(5) of the

25 Internal Revenue Code of 1986) for the 12-
8

•S 1372 EAH

1 month period ending on December 31 of the

2 immediately preceding fiscal year; exceeds

3 ‘‘(ii) the average of the Consumer Price

4 Index (as so defined) for the 12-month pe5 riod ending on December 31 of the 2nd pre6 ceding fiscal year.

7 ‘‘(3) SUBJECT TO APPROPRIATIONS.—All spend8 ing and credit authority provided under this Act shall

9 be effective for any fiscal year only to such extent or

10 in such amounts as are provided in appropriation

11 Acts.’’.

12 SEC. 6. ACTIVITIES RELATING TO AFRICA.

13 (a) EXTENSION OF ADVISORY COMMITTEE FOR SUB14 SAHARAN AFRICA.—Section 2(b)(9)(B)(iii) of the Export15 Import Bank Act of 1945 (12 U.S.C. 635(b)(9)(B)(iii)) is

16 amended by striking ‘‘4 years after the date of enactment

17 of this subparagraph’’ and inserting ‘‘on September 30,

18 2005’’.

19 (b) COORDINATION OF AFRICA ACTIVITIES.—Section

20 2(b)(9)(A) of the Export-Import Bank Act of 1945 (12

21 U.S.C. 635(b)(9)(A)) is amended by inserting ‘‘, in con22 sultation with the Department of Commerce and the Trade

23 Promotion Coordinating Council,’’ after ‘‘shall’’.

24 (c) CONTINUED REPORTS TO THE CONGRESS.—Sec25 tion 7(b) of the Export-Import Bank Reauthorization Act
9

•S 1372 EAH

1 of 1997 (12 U.S.C. 635 note) is amended by striking ‘‘4’’

2 and inserting ‘‘8’’.

3 (d) CREATION OF OFFICE ON AFRICA.—Section 3 of

4 the Export-Import Bank Act of 1945 (12 U.S.C. 635a) is

5 further amended by adding at the end the following:

6 ‘‘(g) OFFICE ON AFRICA.—

7 ‘‘(1) ESTABLISHMENT.—There is established in

8 the Bank an Office on Africa.

9 ‘‘(2) FUNCTION.—The Office on Africa shall

10 focus on increasing Bank activities in Africa and in11 creasing visibility among United States companies of

12 African markets for exports.

13 ‘‘(3) REPORTS.—The Office on Africa shall, from

14 time to time not less than annually, report to the

15 Board on the matters described in paragraph (2).’’.

16 SEC. 7. SMALL BUSINESS.

17 (a) IN GENERAL.—Section 2(b)(1)(E)(v) of the Ex18 port-Import Bank Act of 1945 (12 U.S.C. 635(b)(1)(E)(v))

19 is amended—

20 (1) by striking ‘‘10’’ and inserting ‘‘20’’; and

21 (2) by inserting ‘‘, and from such amount, not

22 less than 8 percent of such authority shall be made

23 available for small business concerns employing fewer

24 than 100 employees’’ before the period.
10

•S 1372 EAH

1 (b) OUTREACH TO BUSINESSES OWNED BY SOCIALLY

2 DISADVANTAGED INDIVIDUALS OR WOMEN.—Section

3 2(b)(1)(E)(iii)(II) of such Act (12 U.S.C.

4 635(b)(1)(E)(iii)(II)) is amended by inserting after ‘‘Bank’’

5 the following: ‘‘, with particular emphasis on conducting

6 outreach and increasing loans to businesses not less than

7 51 percent of which are directly and unconditionally owned

8 by 1 or more socially disadvantaged individuals (as defined

9 in section 8(a)(5) of the Small Business Act) or women,’’.

10 (c) OFFICE FOR SMALL BUSINESS EXPORTERS.—Sec11 tion 3 of such Act (12 U.S.C. 635a) is further amended by

12 adding at the end the following:

13 ‘‘(h) OFFICE FOR SMALL BUSINESS EXPORTERS.—

14 ‘‘(1) ESTABLISHMENT.—There is established in

15 the Bank an Office for Small Business Exporters.

16 ‘‘(2) FUNCTION.—The Office for Small Business

17 Exporters shall focus on increasing Bank activities to

18 enhance small business exports and to meet the

19 unique trade finance needs of small business export20 ers.

21 ‘‘(3) REPORTS.—The Office for Small Business

22 Exporters shall, from time to time not less than an23 nually, report to the Board on the how the Office for

24 Small Business Exporters is achieving the goals as

25 described in paragraph (2).
11

•S 1372 EAH

1 ‘‘(4) SENSE OF CONGRESS.—It is the sense of the

2 Congress that the Bank should redirect and prioritize

3 existing resources and personnel to establish the Office

4 for Small Business Exporters.’’.

5 SEC. 8. TECHNOLOGY.

6 (a) SMALL BUSINESS.—Section 2(b)(1)(E) of the Ex7 port-Import Bank Act of 1945 (12 U.S.C. 635(b)(1)(E)) is

8 amended by adding at the end the following:

9 ‘‘(x) The Bank shall implement technology improve10 ments which are designed to improve small business out11 reach, including allowing customers to use the Internet to

12 apply for all Bank programs.’’.

13 (b) ELECTRONIC TRACKING OF PENDING TRANS14 ACTIONS.—Section 2(b)(1) of such Act (12 U.S.C.

15 635(b)(1)) is amended by adding at the end the following:

16 ‘‘(J) The Bank shall implement an electronic system

17 designed to track all pending transactions of the Bank.’’.

18 (c) REPORTS.—

19 (1) IN GENERAL.—During each of fiscal years

20 2002 through 2005, the Export-Import Bank of the

21 United States shall submit to the Committees on Fi22 nancial Services and on Appropriations of the House

23 of Representatives and the Committees on Banking,

24 Housing, and Urban Affairs and on Appropriations

25 of the Senate an interim report and a final report on
12

•S 1372 EAH

1 the efforts made by the Bank to carry out subsections

2 (E)(x) and (J) of section 2(b)(1) of the Export-Import

3 Bank Act of 1945, and on how the efforts are assist4 ing small businesses.

5 (2) TIMING.—The interim report required by

6 paragraph (1) for a fiscal year shall be submitted

7 April 30 of the fiscal year, and the final report so re8 quired for a fiscal year shall be submitted on Novem9 ber 1 of the succeeding fiscal year.

10 SEC. 9. TIED AID CREDIT FUND.

11 (a) PRINCIPLES, PROCESS, AND STANDARDS.—Section

12 10(b) of the Export-Import Bank Act of 1945 (12 U.S.C.

13 635i–3(b)) is amended—

14 (1) in paragraph (2), by striking subparagraph

15 (A) and inserting the following:

16 ‘‘(A) in consultation with the Secretary and

17 in accordance with the principles, process, and

18 standards developed pursuant to paragraph (5)

19 of this subsection and the purposes described in

20 subsection (a)(5);’’; and

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

22 ‘‘(5) PRINCIPLES, PROCESS, AND STANDARDS

23 GOVERNING USE OF THE FUND.—

24 ‘‘(A) IN GENERAL.—The Secretary and the

25 Bank jointly shall develop a process for, and the
13

•S 1372 EAH

1 principles and standards to be used in, deter2 mining how the amounts in the Tied Aid Credit

3 Fund could be used most effectively and effi4 ciently to carry out the purposes of subsection

5 (a)(6).

6 ‘‘(B) CONTENT OF PRINCIPLES, PROCESS,

7 AND STANDARDS.—

8 ‘‘(i) CONSIDERATION OF CERTAIN PRIN9 CIPLES AND STANDARDS.—In developing the

10 principles and standards referred to in sub11 paragraph (A), the Secretary and the Bank

12 shall consider administering the Tied Aid

13 Credit Fund in accordance with the fol14 lowing principles and standards:

15 ‘‘(I) The Tied Aid Credit Fund

16 should be used to leverage multilateral

17 negotiations to restrict the scope for

18 aid-financed trade distortions through

19 new multilateral rules, and to police

20 existing rules.

21 ‘‘(II) The Tied Aid Credit Fund

22 will be used to counter a foreign tied

23 aid credit confronted by a United

24 States exporter when bidding for a

25 capital project.
14

•S 1372 EAH

1 ‘‘(III) Credible information about

2 an offer of foreign tied aid will be re3 quired before the Tied Aid Credit Fund

4 is used to offer specific terms to match

5 such an offer.

6 ‘‘(IV) The Tied Aid Credit Fund

7 will be used to enable a competitive

8 United States exporter to pursue fur9 ther market opportunities on commer10 cial terms made possible by the use of

11 the Fund.

12 ‘‘(V) Each use of the Tied Aid

13 Credit Fund will be in accordance

14 with the Arrangement unless a breach

15 of the Arrangement has been committed

16 by a foreign export credit agency.

17 ‘‘(VI) The Tied Aid Credit Fund

18 may only be used to defend potential

19 sales by United States companies to a

20 project that is environmentally sound.

21 ‘‘(VII) The Tied Aid Credit Fund

22 may be used to preemptively counter

23 potential foreign tied aid offers without

24 triggering foreign tied aid use.
15

•S 1372 EAH

1 ‘‘(ii) LIMITATION.—The principles,

2 process and standards referred to in sub3 paragraph (A) shall not result in the Sec4 retary having the authority to veto a spe5 cific deal.

6 ‘‘(C) INITIAL PRINCIPLES, PROCESS, AND

7 STANDARDS.—As soon as is practicable but not

8 later than 6 months after the date of the enact9 ment of this paragraph, the Secretary and the

10 Bank shall submit to the Committee on Finan11 cial Services of the House of Representatives and

12 the Committee on Banking, Housing, and Urban

13 Affairs of the Senate a copy of the principles,

14 process, and standards developed pursuant to

15 subparagraph (A).

16 ‘‘(D) TRANSITIONAL PRINCIPLES AND

17 STANDARDS.—The principles and standards set

18 forth in subparagraph (B)(i) shall govern the use

19 of the Tied Aid Credit Fund until the principles,

20 process, and standards required by subparagraph

21 (C) are submitted.

22 ‘‘(E) UPDATE AND REVISION.—The Sec23 retary and the bank jointly should update and

24 revise, as needed, the principles, process, and

25 standards developed pursuant to subparagraph
16

•S 1372 EAH

1 (A), and, on doing so, shall submit to the Com2 mittee on Financial Services of the House of

3 Representatives and the Committee on Banking,

4 Housing, and Urban Affairs of the Senate a

5 copy of the principles, process, and standards so

6 updated and revised.’’.

7 (b) RECONSIDERATION OF BOARD DECISIONS ON USE

8 OF FUND.—Section 10(b) of such Act (12 U.S.C. 635i–3(b))

9 is further amended by adding at the end the following:

10 ‘‘(6) RECONSIDERATION OF DECISIONS.—

11 ‘‘(A) IN GENERAL.—Taking into consider12 ation the time sensitivity of transactions, the

13 Board of Directors of the Bank shall expedi14 tiously pursuant to paragraph (2) reconsider a

15 decision of the Board to deny an application of

16 the use of the Tied Aid Credit Fund if the appli17 cant submits the request for reconsideration

18 within 3 months of the denial.

19 ‘‘(B) PROCEDURAL RULES.—In any such

20 reconsideration, the applicant may be required

21 to, provide new information on the applica22 tion.’’.

23 SEC. 10. EXPANSION OF AUTHORITY TO USE TIED AID

24 CREDIT FUND.

25 (a) UNTIED AID.—
17

•S 1372 EAH

1 (1) NEGOTIATIONS.—The Secretary of the Treas2 ury shall seek to negotiate an OECD Arrangement on

3 Untied Aid. In the negotiations, the Secretary should

4 seek agreement on subjecting untied aid to the rules

5 governing the Arrangement, including the rules gov6 erning disclosure.

7 (2) REPORT TO THE CONGRESS.—Within 1 year

8 after the date of the enactment of this Act, the Sec9 retary of the Treasury shall submit to the Committee

10 on Financial Services of the House of Representatives

11 and the Committee on Banking, Housing, and Urban

12 Affairs of the Senate a report on the successes, fail13 ures, and obstacles in initiating negotiations, and if

14 negotiations were initiated, in reaching the agreement

15 described in paragraph (1).

16 (b) MARKET WINDOWS.—

17 (1) NEGOTIATIONS.—The Secretary of the Treas18 ury shall seek to negotiate an OECD Arrangement on

19 Market Windows. In the negotiations, the Secretary

20 should seek agreement on subjecting market windows

21 to the rules governing the Arrangement, including the

22 rules governing disclosure.

23 (2) REPORT TO THE CONGRESS.—Within 2 years

24 after the date of the enactment of this Act, the Sec25 retary of the Treasury shall submit to the Committee
18

•S 1372 EAH

1 on Financial Services of the House of Representatives

2 and the Committee on Banking, Housing, and Urban

3 Affairs of the Senate a report on the successes, fail4 ures, and obstacles in initiating negotiations, and if

5 negotiations were initiated, in reaching the agreement

6 described in paragraph (1).

7 (c) USE OF TIED AID CREDIT FUND TO COMBAT UN8 TIED AID.—Section 10 of the Export-Import Bank Act of

9 1945 (12 U.S.C. 635i–3) is amended in subsection (a)—

10 (A) in paragraph (4), by striking ‘‘and’’ at

11 the end;

12 (B) in paragraph (5), by inserting ‘‘, or un13 tied aid,’’ before ‘‘for commercial’’ the 1st and

14 3rd places it appears; and

15 (C) by redesignating paragraph (5) as

16 paragraph (6) and inserting after paragraph (4)

17 the following:

18 ‘‘(5) the Bank has, at a minimum, the following

19 two tasks:

20 ‘‘(A)(i) First, the Bank should match, and

21 even overmatch, foreign export credit agencies

22 and aid agencies when they engage in tied aid

23 outside the confines of the Arrangement and

24 when they exploit loopholes, such as untied aid;
19

•S 1372 EAH

1 ‘‘(ii) such matching and overmatching is

2 needed to provide the United States with leverage

3 in efforts at the OECD to reduce the overall level

4 of export subsidies;

5 ‘‘(iii) only through matching or bettering

6 foreign export credit offers can the Bank buttress

7 United States negotiators in their efforts to bring

8 these loopholes within the disciplines of the Ar9 rangement; and

10 ‘‘(iv) in order to bring untied aid within

11 the discipline of the Arrangement, the Bank

12 should sometimes initiate highly competitive fi13 nancial support when the Bank learns that for14 eign untied aid offers will be made; and

15 ‘‘(B) Second, the Bank should support

16 United States exporters when the exporters face

17 foreign competition that is consistent with the

18 letter and spirit of the Arrangement and the

19 Subsidies Code of the World Trade Organization,

20 but which nonetheless is more generous than the

21 terms available from the private financial mar22 ket; and’’.

23 (d) DEFINITION OF MARKET WINDOW.—Section 10(h)

24 of such Act (12 U.S.C. 635i–3(h)) is amended by adding

25 at the end the following:
20

•S 1372 EAH

1 ‘‘(7) MARKET WINDOW.—The term ‘market win2 dow’ means the provision of export financing through

3 an institution (or a part of an institution) that

4 claims to operate on a commercial basis while bene5 fiting directly or indirectly from some level of govern6 ment support.’’.

7 SEC. 11. RENAMING OF TIED AID CREDIT PROGRAM AND

8 FUND AS EXPORT COMPETITIVENESS PRO9 GRAM AND FUND.

10 Section 10 of the Export-Import Bank Act of 1945 (12

11 U.S.C. 635i–3) is further amended—

12 (1) by striking all that precedes paragraph (1)

13 of subsection (a) and inserting the following:

14 ‘‘SEC. 10. EXPORT COMPETITIVENESS FUND.

15 ‘‘(a) FINDINGS.—The Congress finds that—’’;

16 (2) in subsection (a)(6) (as so redesignated by

17 section 9(c)(1)(D) of this Act), by striking ‘‘tied aid

18 program’’ and inserting ‘‘export competitiveness pro19 gram’’;

20 (3) in the heading of subsection (b), by striking

21 ‘‘TIED AID CREDIT’’ and inserting ‘‘EXPORT COM22 PETITIVENESS’’;

23 (4) in subsection (b)(1)—
21

•S 1372 EAH

1 (A) by striking ‘‘tied aid credit program’’

2 and inserting ‘‘export competitiveness program’’;

3 and

4 (B) by striking ‘‘Tied Aid Credit fund’’ and

5 inserting ‘‘Export Competitiveness Fund’’;

6 (5) in subsection (b)(2), by striking ‘‘tied aid

7 credit program’’ and inserting ‘‘export competitive8 ness program’’;

9 (6) in subsection (b)(3)—

10 (A) by striking ‘‘tied aid credit program’’

11 and inserting ‘‘export competitiveness program’’;

12 and

13 (B) by striking ‘‘Tied Aid Credit Fund’’

14 and inserting ‘‘Export Competitiveness Fund’’;

15 (7) in subsection (b)(5) (as added by section

16 9(a)(2) of this Act), by striking ‘‘Tied Aid Credit

17 Fund’’ each place it appears and inserting ‘‘Export

18 Competitiveness Fund’’;

19 (8) in subsection (b)(6) (as added by section 9(b)

20 of this Act), by striking ‘‘Tied Aid Credit Fund’’ and

21 inserting ‘‘Export Competitiveness Fund’’;

22 (9) in subsection (c)—

23 (A) in the subsection heading, by striking

24 ‘‘TIED AID CREDIT’’ and inserting ‘‘EXPORT

25 COMPETITIVENESS’’; and
22

•S 1372 EAH

1 (B) in paragraph (1), by striking ‘‘Tied

2 Aid Credit’’ and inserting ‘‘Export Competitive3 ness’’;

4 (10) in subsection (d), by striking ‘‘tied aid cred5 it’’ and inserting ‘‘export competitiveness’’; and

6 (11) in subsection (g)(2)(C), by striking ‘‘Tied

7 Aid Credit’’ and inserting ‘‘Export Competitiveness’’.

8 SEC. 12. ANNUAL COMPETITIVENESS REPORT.

9 (a) TIMING.—

10 (1) IN GENERAL.—Section 2(b)(1)(A) of the Ex11 port-Import Bank Act of 1945 (12 U.S.C.

12 635(b)(1)(A)) is amended in the 4th sentence by strik13 ing ‘‘on an annual basis’’ and inserting ‘‘on June 30

14 of each year’’.

15 (2) APPLICABILITY.—The amendment made by

16 paragraph (1) shall apply to reports for calendar

17 years after calendar year 2000.

18 (b) ADDITIONAL MATTERS TO BE ADDRESSED.—Sec19 tion 2(b)(1)(A) of such Act (12 U.S.C. 635(b)(1)(A)) is

20 amended by adding at the end the following: ‘‘The Bank

21 shall include in the annual report a description of the vol22 ume of financing provided by each foreign export credit

23 agency, and a description of all Bank transactions which

24 shall be classified according to their principal purpose, such
23

•S 1372 EAH

1 as to correct a market failure or to provide matching sup2 port.’’.

3 (c) NUMBER OF SMALL BUSINESS SUPPLIERS OF

4 BANK USERS.—Section 2(b)(1)(A) of such Act (12 U.S.C.

5 635(b)(1)(A)) is further amended by adding at the end the

6 following: ‘‘The Bank shall estimate on the basis of an an7 nual survey or tabulation the number of entities that are

8 suppliers of users of the Bank and that are small business

9 concerns (as defined under section 3 of the Small Business

10 Act) located in the United States, and shall include the esti11 mate in the annual report.’’.

12 (d) OUTREACH TO BUSINESSES OWNED BY SOCIALLY

13 DISADVANTAGED INDIVIDUALS OR BY WOMEN.—Section

14 2(b)(1)(A) of such Act (12 U.S.C. 635(b)(1)(A)) is further

15 amended by adding at the end the following: ‘‘The Bank

16 shall include in the annual report a description of outreach

17 efforts made by the Bank to any business not less than 51

18 percent of which is directly and unconditionally owned by

19 1 or more socially disadvantaged individuals (as defined

20 in section 8(a)(5) of the Small Business Act) or women,

21 and any data on the results of such efforts.’’.

22 SEC. 13. RENEWABLE ENERGY SOURCES.

23 (a) PROMOTION.—Section 2(b)(1) of the Export-Im24 port Bank Act of 1945 (12 U.S.C. 635(b)(1)), as amended
24

•S 1372 EAH

1 by section 8(b) of this Act, is amended by adding at the

2 end the following:

3 ‘‘(K) The Bank shall promote the export of goods and

4 services related to renewable energy sources.’’.

5 (b) DESCRIPTION OF EFFORTS TO BE INCLUDED IN

6 ANNUAL COMPETITIVENESS REPORT.—Section 2(b)(1)(A)

7 of such Act (12 U.S.C. 635(b)(1)(A)) is further amended

8 by adding at the end the following: ‘‘The Bank shall include

9 in the annual report a description of the efforts undertaken

10 under subparagraph (K).’’.

11 SEC. 14. GAO REPORTS.

12 (a) POTENTIAL OF WTO TO REMEDY UNTIED AID AND

13 MARKET WINDOWS.—Within 1 year after the date of the

14 enactment of this Act, the Comptroller General of the United

15 States shall submit to the Committee on Financial Services

16 of the House of Representatives and the Committee on

17 Banking, Housing, and Urban Affairs of the Senate a re18 port that examines—

19 (1) whether a case could be brought by the

20 United States in the World Trade Organization seek21 ing relief against untied aid and market windows,

22 and if so, the kinds of relief that would be available

23 if the United States were to prevail in such a case;

24 and
25

•S 1372 EAH

1 (2) the scope of penalty tariffs that the United

2 States could impose against imports from a country

3 that uses untied aid or market windows.

4 (b) COMPARATIVE RESERVE PRACTICES OF EXPORT

5 CREDIT AGENCIES AND PRIVATE BANKS.—Within 1 year

6 after the date of the enactment of this Act, the Comptroller

7 General of the United States shall submit to the Committee

8 on Financial Services of the House of Representatives and

9 the Committee on Banking, Housing, and Urban Affairs

10 of the Senate a report that examines the reserve ratios of

11 the Export-Import Bank of the United States as compared

12 with the reserve practices of private banks and foreign ex13 port credit agencies.

14 SEC. 15. HUMAN RIGHTS.

15 Section 2(b)(1)(B) of the Export-Import Bank Act of

16 1945 (12 U.S.C. 635(b)(1)(B)) is amended by inserting ‘‘(as

17 provided in the Universal Declaration of Human Rights

18 adopted by the United Nations General Assembly on Decem19 ber 10, 1948)’’ after ‘‘human rights’’.

20 SEC. 16. STEEL.

21 (a) REEVALUATION.—The Export-Import Bank of the

22 United States shall re-assess the effects of the approval by

23 the Bank of an $18,000,000 medium-term guarantee to sup24 port the sale of computer software, control systems, and

25 main drive power supplies to Benxi Iron & Steel Company,
26

•S 1372 EAH

1 in Benxi, Liaoning, China, for the purpose of evaluating

2 whether the adverse impact test of the Bank sufficiently

3 takes account of the interests of United States industries.

4 (b) REPORT TO THE CONGRESS.—Within 1 year after

5 the date of the enactment of this Act, the Export-Import

6 Bank of the United States shall submit to the Committee

7 on Financial Services of the House of Representatives and

8 the Committee on Banking, Housing, and Urban Affairs

9 of the Senate a report on the re-assessment required by sub10 section (a).

11 SEC. 17. CORRECTION OF REFERENCES.

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

13 of 1945 (12 U.S.C. 635(b)(1)(B)) is amended by striking

14 ‘‘Banking and’’.

15 (b) Each of the following provisions of the Export-Im16 port Bank Act of 1945 is amended by striking ‘‘Banking,

17 Finance and Urban Affairs’’ and inserting ‘‘Financial

18 Services’’:

19 (1) Section 2(b)(6)(D)(i)(III) (12 U.S.C.

20 635(b)(6)(D)(i)(III)).

21 (2) Section 2(b)(6)(H) (12 U.S.C. 635(b)(6)(H)).

22 (3) Section 2(b)(6)(I)(i)(II) (12 U.S.C.

23 635(b)(6)(I)(i)(II)).

24 (4) Section 2(b)(6)(I)(iiii) (12 U.S.C.

25 635(b)(6)(I)(iii)).
27

•S 1372 EAH

1 (5) Section 10(g)(1) (12 U.S.C. 635i–3(g)(1)).

2 SEC. 18. AUTHORITY TO DENY APPLICATION FOR ASSIST3 ANCE BASED ON FRAUD OR CORRUPTION BY

4 THE APPLICANT.

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

6 U.S.C. 635) is amended by adding at the end the following:

7 ‘‘(f) AUTHORITY TO DENY APPLICATION FOR ASSIST8 ANCE BASED ON FRAUD OR CORRUPTION BY PARTY TO THE

9 TRANSACTION.—In addition to any other authority of the

10 Bank, the Bank may deny an application for assistance

11 with respect to a transaction if the Bank has substantial

12 credible evidence that any party to the transaction has com13 mitted an act of fraud or corruption in connection with

14 a transaction involving a good or service that is the same

15 as, or substantially similar to, a good or service the export

16 of which is the subject of the application.’’.

17 SEC. 19. CONSIDERATION OF FOREIGN COUNTRY HELPFUL18 NESS IN EFFORTS TO ERADICATE TER19 RORISM.

20 Section 2(b)(1) of the Export-Import Bank Act of 1945

21 (12 U.S.C. 635(b)(1)) is further amended by adding at the

22 end the following:

23 ‘‘(L) It is further the policy of the United States that,

24 in considering whether to guarantee, insure, or extend cred25 it, or participate in the extension of credit in connection
28

•S 1372 EAH

1 with the purchase of any product, technical data, or infor2 mation by a national or agency of any nation, the Bank

3 shall take into account the extent to which the nation has

4 been helpful or unhelpful in efforts to eradicate terrorism.

5 The Bank shall consult with the Department of State to

6 determine the degreee to which each relevant nation has

7 been helpful or unhelpful in efforts to eradicate terrorism.’’.

8 SEC. 20. OUTSTANDING ORDERS AND PRELIMINARY INJURY

9 DETERMINATIONS.

10 Section 2(e) of the Export-Import Bank Act of 1945

11 (12 U.S.C. 635(e)) is amended—

12 (1) in paragraph (2), by striking ‘‘Paragraph

13 (1)’’ and inserting ‘‘Paragraphs (1) and (2)’’; and

14 (2) by redesignating paragraphs (2) and (3) as

15 paragraphs (3) and (4) and by inserting after para16 graph (1) the following:

17 ‘‘(2) OUTSTANDING ORDERS AND PRELIMINARY

18 INJURY DETERMINATIONS.—

19 ‘‘(A) ORDERS.—The Bank shall not provide

20 any loan or guarantee to an entity for the result21 ing production of substantially the same product

22 that is the subject of—

23 ‘‘(i) a countervailing duty or anti24 dumping order under title VII of the Tariff

25 Act of 1930; or
29

•S 1372 EAH

1 ‘‘(ii) a determination under title II of

2 the Trade Act of 1974.

3 ‘‘(B) AFFIRMATIVE DETERMINATION.—

4 Within 60 days after the date of the enactment

5 of this Act, the Bank shall establish procedures

6 regarding loans or guarantees provided to any

7 entity that is subject to a preliminary deter8 mination of a reasonable indication of material

9 injury to an industry under title VII of the Tar10 iff Act of 1930. The procedures shall help to en11 sure that these loans and guarantees are likely to

12 not result in a significant increase in imports of

13 substantially the same product covered by the

14 preliminary determination and are likely to not

15 have a significant adverse impact on the domes16 tic industry. The Bank shall report to the Com17 mittee on Financial Services of the House of

18 Representatives and the Committee on Banking,

19 Housing, and Urban Affairs of the Senate on the

20 implementation of these procedures.

21 ‘‘(C) COMMENT PERIOD.—The Bank shall

22 establish procedures under which the Bank shall

23 notify interested parties and provide a comment

24 period with regard to loans or guarantees re25 viewed pursuant to subparagraph (B).’’.
30

•S 1372 EAH

1 SEC. 21. SENSE OF THE CONGRESS RELATING TO RENEW2 ABLE ENERGY TARGETS.

3 (a) ALLOCATION OF ASSISTANCE AMONG ENERGY

4 PROJECTS.—It is the sense of the Congress that, of the total

5 amount available to the Export-Import Bank of the United

6 States for the extension of credit for transactions related

7 to energy projects, the Bank should, not later than the be8 ginning of fiscal year 2006, use—

9 (1) not more than 95 percent for transactions re10 lated to fossil fuel projects; and

11 (2) not less than 5 percent for transactions re12 lated to renewable energy and energy efficiency

13 projects.

14 (b) DEFINITION OF RENEWABLE ENERGY.—In this

15 section, the term ‘‘renewable energy’’ means projects related

16 to solar, wind, biomass, fuel cell, landfill gas, or geothermal

17 energy sources.

18 SEC. 22. REQUIREMENT THAT APPLICANTS FOR ASSIST19 ANCE DISCLOSE WHETHER THEY HAVE VIO20 LATED THE FOREIGN CORRUPT PRACTICES

21 ACT; MAINTENANCE OF LIST OF VIOLATORS.

22 Section 2(b)(1) of the Export-Import Bank Act of 1945

23 (12 U.S.C. 635(b)(1)) is further amended by adding at the

24 end the following:

25 ‘‘(M) The Bank shall require an applicant for assist26 ance from the Bank to disclose whether the applicant has
31

•S 1372 EAH

1 been found by a court of the United States to have violated

2 the Foreign Corrupt Practices Act, and shall maintain a

3 list of persons so found to have violated such Act.’’.

4 SEC. 23. SENSE OF THE CONGRESS.

5 It is the sense of the Congress that, when considering

6 a proposal for assistance for a project that is worth

7 $10,000,000 or more, the management of the Export-Import

8 Bank of the United States should have available for review

9 a detailed assessment of the potential human rights impact

10 of the proposed project.

Attest:

Clerk.