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[Congressional Bills 112th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2072 Reported in House (RH)]

                                                 Union Calendar No. 129
112th CONGRESS
  1st Session
                                H. R. 2072

                          [Report No. 112-201]

  To reauthorize the Export-Import Bank of the United States, and for 
                            other purposes.

_______________________________________________________________________

                    IN THE HOUSE OF REPRESENTATIVES

                              June 1, 2011

Mr. Gary G. Miller of California (for himself, Mr. Bachus, Mr. Frank of 
Massachusetts, and Mrs. McCarthy of New York) introduced the following 
    bill; which was referred to the Committee on Financial Services

                           September 8, 2011

 Additional sponsors: Mr. Dold, Mrs. Biggert, Mr. Manzullo, Mr. David 
             Scott of Georgia, Ms. Moore, and Mr. Hinojosa

                           September 8, 2011

  Reported with an amendment, committed to the Committee of the Whole 
       House on the State of the Union, and ordered to be printed
 [Strike out all after the enacting clause and insert the part printed 
                               in italic]
[For text of introduced bill, see copy of bill as introduced on June 1, 
                                 2011]

_______________________________________________________________________

                                 A BILL

 
  To reauthorize 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; TABLE OF CONTENTS.

    (a) Short Title.--This Act may be cited as the ``Securing American 
Jobs Through Exports Act of 2011''.
    (b) Table of Contents.--The table of contents of this Act is as 
follows:

Sec. 1. Short title; table of contents.
Sec. 2. Findings; statement of purpose.
Sec. 3. Extension of authority.
Sec. 4. Limitations on outstanding loans, guarantees, and insurance.
Sec. 5. Content guidelines for the provision of bank financing.
Sec. 6. Improvement of method for calculating the effects of Bank 
                            financing on job creation and maintenance 
                            in the United States.
Sec. 7. Biennial audits of Bank transactions.
Sec. 8. Use of portion of Bank surplus to update information technology 
                            systems.
Sec. 9. Monitoring of default rates on Bank financing; reports on 
                            default rates.
Sec. 10. Sense of the Congress regarding Bank accountability.
Sec. 11. Sub-saharan africa advisory committee.
Sec. 12. Extension of authority to provide financing for the export of 
                            nonlethal defense articles or services the 
                            primary end use of which will be for 
                            civilian purposes.
Sec. 13. Elimination of obsolete provisions.
Sec. 14. Examination of bank support for small business.
Sec. 15. Categorization of purpose of loans and long-term guarantees in 
                            annual report.
Sec. 16. Disclosure requirement for board meetings.
Sec. 17. Modifications relating to the advisory committee.
Sec. 18. Financing for goods manufactured in the United States used in 
                            global textile and apparel supply chains.
Sec. 19. Prohibition on Bank assistance for project to be participated 
                            in by an entity that has recently engaged 
                            in certain prohibited activities with 
                            respect to Iran.
Sec. 20. Effective date.

SEC. 2. FINDINGS; STATEMENT OF PURPOSE.

    (a) Findings.--The Congress finds as follows:
            (1) Export sales by United States companies are critical to 
        national economic growth.
            (2) Increased demand for United States exports in emerging 
        markets will help small and large companies maintain and create 
        United States jobs.
            (3) The Export-Import Bank contributes to a stronger 
        national economy by financing the export of United States goods 
        and services in markets where private capital is limited or 
        unavailable.
            (4) The Export-Import Bank of the United States does not 
        compete with private sector lenders.
            (5) The Export-Import Bank of the United States helps 
        finance United States exports to 183 countries.
            (6) A large percentage of global growth will be centered in 
        markets served by the Export-Import Bank of the United States, 
        and the Bank will be critical to helping United States 
        companies compete for these opportunities.
            (7) Through its support for exports, in fiscal year 2010 
        the Export-Import Bank of the United States supported 227,000 
        American jobs at over 3,300 companies.
            (8) The Export-Import Bank of the United States helps to 
        level the playing field for United States exporters by matching 
        the financing that other governments provide to their 
        exporters.
            (9) All the leading exporting nations have official export 
        credit agencies that are used actively to support their 
        exporters.
            (10) Through its insurance, loan, and loan guarantee 
        products, the Export-Import Bank of the United States supports 
        the promotion and maintenance of high levels of employment and 
        real income and increased development of the productive 
        resources of the United States.
            (11) The Export-Import Bank of the United States requires 
        reasonable assurance of repayment for the transactions it 
        authorizes, and the Bank closely monitors credit and other 
        risks in its portfolio. The Bank prices transactions based on 
        its risk assessment of the buyers.
            (12) Since 1934, the net loss rate for all long-, medium-, 
        and short-term loans made by the Export-Import Bank of the 
        United States is 1.5 percent.
            (13) The Export-Import Bank of the United States has been a 
        self-sustaining institution since fiscal year 2008, and 
        surpluses of the Bank are remitted to the United States 
        Treasury. From fiscal years 2008 through 2010, the Bank 
        generated a surplus of $551,000,000.
            (14) In fiscal year 2010, the Export-Import Bank of the 
        United States provided a record $5,000,000,000 directly 
        supporting United States small business exporters through 3,091 
        transactions, representing 20 percent of the total value of the 
        Bank's authorizations and nearly 88 percent of the total number 
        of the Bank's authorizations.
    (b) Statement of Purpose.--The purpose of this Act is to 
reauthorize the activities and operations of the Export-Import Bank of 
the United States to ensure that the Bank provides financing, when 
commercial banks are unable or unwilling to do so, competitive with the 
financing provided by foreign export credit agencies, in order to 
enable United States companies to contribute to a stronger national 
economy by maintaining or increasing the employment of workers in the 
United States through the export of goods and services.

SEC. 3. EXTENSION OF AUTHORITY.

    Section 7 of the Export-Import Bank Act of 1945 (12 U.S.C. 635f) is 
amended by striking ``2011'' and inserting ``2015''.

SEC. 4. LIMITATIONS ON OUTSTANDING LOANS, GUARANTEES, AND INSURANCE.

    Section 6(a)(2) of the Export-Import Bank Act of 1945 (12 U.S.C. 
635e(a)(2)) is amended--
            (1) in subparagraph (D), by striking ``and'';
            (2) in subparagraph (E), by striking the comma at the end 
        and inserting a semicolon; and
            (3) by adding at the end the following:
                    ``(F) during fiscal year 2012, $120,000,000,000;
                    ``(G) during fiscal year 2013, $140,000,000,000; 
                and
                    ``(H) during fiscal year 2014 and each fiscal year 
                thereafter, $160,000,000,000.''.

SEC. 5. CONTENT GUIDELINES FOR THE PROVISION OF BANK FINANCING.

    Section 2 of the Export-Import Bank Act of 1945 (12 U.S.C. 635) is 
amended by adding at the end the following:
    ``(i) Content Guidelines for the Provision of Financing.--
            ``(1) In general.--The Bank shall, after notice and comment 
        and Board approval, establish clear and comprehensive 
        guidelines with respect to the content of the goods and 
        services involved in a transaction for which the Bank will 
        provide financing, which shall be aimed at ensuring that the 
        Bank enables companies with operations in the United States to 
        maintain and create jobs in the United States and contribute to 
        a stronger national economy through the export of their goods 
        and services.
            ``(2) Required considerations.--In establishing the 
        guidelines, the Bank shall take into account such 
        considerations as the Bank deems relevant to meet the purposes 
        described in paragraph (1), including the following:
                    ``(A) The needs of different industry sectors to 
                obtain financing from the Bank for exporting their 
                products or services in order to create and maintain 
                jobs in the United States.
                    ``(B) The ability of companies with operations in 
                the United States to compete effectively for export 
                opportunities that will create and maintain jobs in the 
                United States, particularly with respect to the Bank's 
                content requirements and co-financing arrangements.
                    ``(C) The totality of support, including financing 
                and subsidies, extended by export credit agencies to 
                support the exports of goods and services, as well as 
                key differences in, types of trade-offs among, and 
                national trade promotion strategies of OECD member 
                countries and of non-OECD member countries.
                    ``(D) Recommendations from the advisory committee 
                established under section 3(d), including any 
                dissenting views.
                    ``(E) Any findings or recommendations of the 
                Government Accountability Office pertaining to the 
                ability of the Bank to provide financing that is 
                competitive with the financing provided by foreign 
                export credit agencies, to enable companies with 
                operations in the United States to contribute to a 
                stronger United States economy by maintaining or 
                increasing the employment of workers in the United 
                States through the export of goods and services.
                    ``(F) The effects of the guidelines on the 
                manufacturing workforce and service workforce of the 
                United States.
                    ``(G) The effect of changes to current Bank content 
                requirements on the incentive for companies to create 
                and maintain operations in the United States in order 
                to increase the employment of workers in the United 
                States.
            ``(3) Separate guidelines.--
                    ``(A) The Bank may establish separate guidelines 
                under this subsection for services and for goods.
                    ``(B) The Bank may establish separate guidelines 
                under this subsection for small business concerns (as 
                defined in section 3(a) of the Small Business Act).
                    ``(C) The Bank may continue separate guidelines 
                under this subsection with respect to different terms 
                and products.
            ``(4) Certification that domestic content has not been 
        reduced because of the guidelines.--In determining whether to 
        provide financing for a proposed transaction, the exporter 
        shall certify that the domestic content of a good has not been 
        reduced solely as a result of the guidelines.
            ``(5) Procedural provisions.--Within 60 days after the date 
        of the enactment of this Act, the Bank shall publish a notice 
        with respect to the issuance or modification of guidelines 
        under this subsection. Within 60 days after the end of the 
        public comment period otherwise required by law with respect to 
        the issuance or modification of the guidelines, the Bank shall 
        submit to the Congress, for its review, the guidelines in 
        proposed final form. At the end of the 60-day period that 
        begins with the date the proposed final guidelines are so 
        submitted, the proposed final guidelines shall be considered a 
        final agency action for all purposes and shall take effect and 
        be implemented immediately.
            ``(6) Term.--Every 2 years, the Bank shall review and, as 
        appropriate, modify the guidelines, subject to paragraph (5).
            ``(7) Report to congress.--Within 1 year after the 
        implementation of new or modified guidelines under this 
        subsection, the Inspector General of the Bank shall submit to 
        the Congress a report evaluating the guidelines, which shall 
        include--
                    ``(A) a discussion of the considerations required 
                to be taken into account in establishing the 
                guidelines, a comparison of how the guidelines reflect 
                each consideration, and a description of the extent to 
                which the guidelines enabled companies with operations 
                in the United States who submitted an application for 
                financing from the Bank to maintain and create jobs in 
                the United States and contribute to a stronger national 
                economy through the export of their goods and services;
                    ``(B) a description of the effect of the guidelines 
                on the number of domestic jobs to be supported, the 
                kinds of domestic jobs to be supported, including their 
                duration and geographic location, and the existence and 
                nature of any transfers of technology or production; 
                and
                    ``(C) recommendations for how the guidelines could 
                be modified to better facilitate exports of goods and 
                services from the United States in order to maintain 
                and create jobs in the United States and contribute to 
                a stronger national economy.''.

SEC. 6. IMPROVEMENT OF METHOD FOR CALCULATING THE EFFECTS OF BANK 
              FINANCING ON JOB CREATION AND MAINTENANCE IN THE UNITED 
              STATES.

    (a) GAO Study.--The Comptroller General of the United States shall 
conduct a study to analyze the methodology used by the Export-Import 
Bank of the United States (in this section referred to as the ``Bank'') 
to calculate the effects of the provision of financing by the Bank on 
the creation and maintenance of employment in the United States, 
determine whether there is a more accurate methodology for calculating 
the effects, and if so, make recommendations with respect to the use of 
such a methodology.
    (b) Report.--Within 6 months after the date of the enactment of 
this Act, the Comptroller General shall submit to the Congress and the 
Bank the results of the study required by subsection (a).
    (c) Implementation of Recommendations.--If the report submitted 
pursuant to subsection (b) includes recommendations, the Bank may 
establish a more accurate methodology of the kind described in 
subsection (a) based on the recommendations.

SEC. 7. BIENNIAL AUDITS OF BANK TRANSACTIONS.

    Section 2 of the Export-Import Bank Act of 1945 (12 U.S.C. 635), as 
amended by section 5 of this Act, is amended by adding at the end the 
following:
    ``(j) Audits of Bank Transactions.--Every 2 years, the Comptroller 
General of the United States, in consultation with Inspector General of 
the Bank, shall audit a representative sample of Bank transactions to 
ensure that Bank underwriting, policies, due diligence, and content 
guidelines are met by applicants who receive Bank support.''.

SEC. 8. USE OF PORTION OF BANK SURPLUS TO UPDATE INFORMATION TECHNOLOGY 
              SYSTEMS.

    Section 3 of the Export-Import Bank Act of 1945 (12 U.S.C. 635a) is 
amended by adding at the end the following:
    ``(j) Authority to Use Portion of Bank Surplus to Update 
Information Technology Systems.--
            ``(1) In general.--Subject to paragraphs (3) and (4), the 
        Bank may use an amount equal to 1.25 percent of the surplus of 
        the Bank during each fiscal year to--
                    ``(A) seek to remedy any of the operational 
                weakness and risk management vulnerabilities of the 
                Bank which are the result of the information technology 
                system of the Bank;
                    ``(B) remedy data fragmentation, enhance 
                information flow throughout the Bank, and manage data 
                across the Bank; and
                    ``(C) enhance the operational capacity and risk 
                management capabilities of the Bank to better enable 
                the Bank to increase exports and grow jobs while 
                protecting the taxpayer.
            ``(2) Surplus.--In paragraph (1), the term `surplus' means 
        the amount (if any) by which--
                    ``(A) the sum of the interest and fees collected by 
                the Bank; exceeds
                    ``(B) the sum of--
                            ``(i) the funds set aside to cover expected 
                        losses on transactions financed by the Bank; 
                        and
                            ``(ii) the costs incurred to cover the 
                        administrative expenses of the Bank.
            ``(3) Limitation.--The aggregate of the amounts used in 
        accordance with paragraph (1) for all fiscal years shall not 
        exceed $20,000,000.
            ``(4) Subject to appropriations.--The authority provided by 
        paragraph (1) may be exercised only to such extent and in such 
        amounts as are provided in advance in appropriations Acts.''.

SEC. 9. MONITORING OF DEFAULT RATES ON BANK FINANCING; REPORTS ON 
              DEFAULT RATES.

    Section 8 of the Export-Import Bank Act of 1945 (12 U.S.C. 635g) is 
amended by adding at the end the following:
    ``(g) Monitoring of Default Rates on Bank Financing; Reports on 
Default Rates.--
            ``(1) Monitoring of default rates.--Not less frequently 
        than quarterly, the Bank shall calculate the rate at which the 
        entities to which the Bank has provided short-, medium-, or 
        long-term financing are in default on a payment obligation 
        under the financing, by dividing the total amount of the 
        required payments that are overdue by the total amount of the 
        financing involved.
            ``(2) Reports.--Within 45 days after a rate calculated 
        under paragraph (1) equals or exceeds 2 percent, the Bank shall 
        submit to the Congress a written report that explains the 
        circumstances that have caused the default rate to equal or 
        exceed 2 percent, and includes a plan to reduce the default 
        rate to less than 2 percent.''.

SEC. 10. SENSE OF THE CONGRESS REGARDING BANK ACCOUNTABILITY.

    It is the sense of the Congress that--
            (1) the Board of Directors of the Export-Import Bank of the 
        United States (in this section referred to as the ``Bank'') 
        should establish a formal, transparent, and independent 
        accountability mechanism that would review, investigate, and 
        report on allegations by affected parties of failure of the 
        Bank to follow its own policies and procedures, including 
        situations where the Bank is alleged to have failed in its 
        follow-up on the borrower's obligations in financing agreements 
        with respect to such policies and procedures;
            (2) such an accountability mechanism should be able to 
        provide advice to management on policies, procedures, 
        guidelines, resources, and systems established to ensure 
        adequate review and monitoring of projects;
            (3) in carrying out its mandate, the confidentiality of 
        sensitive business information should be respected, and, in 
        consultation with affected parties, project sponsors, and Bank 
        management, a flexible process should be followed aimed 
        primarily at correcting project failures and achieving better 
        results on the ground; and
            (4) the accountability mechanism should be independent of 
        the line operations of management, and report its findings and 
        recommendations directly to the Board of Directors of the Bank.

SEC. 11. SUB-SAHARAN AFRICA ADVISORY COMMITTEE.

    Section 2(b)(9)(B)(iii) of the Export-Import Bank Act of 1945 (12 
U.S.C. 635(b)(9)(B)(iii)) is amended by striking ``2011'' and inserting 
``2015''.

SEC. 12. EXTENSION OF AUTHORITY TO PROVIDE FINANCING FOR THE EXPORT OF 
              NONLETHAL DEFENSE ARTICLES OR SERVICES THE PRIMARY END 
              USE OF WHICH WILL BE FOR CIVILIAN PURPOSES.

    Section 1(c) of Public Law 103-428 (12 U.S.C. 635 note; 108 Stat. 
4376) is amended by striking ``2011'' and inserting ``2015''.

SEC. 13. ELIMINATION OF OBSOLETE PROVISIONS.

    (a) Foreign Credit Insurance Association.--
            (1) In general.--Section 2(b)(1) of the Export-Import Bank 
        Act of 1945 (12 U.S.C. 635(b)(1)) is amended by striking 
        subparagraph (F) and redesignating subparagraphs (G) through 
        (L) as subparagraphs (F) through (K), respectively.
            (2) Conforming amendments.--
                    (A) Section 2(h)(2) of such Act (12 U.S.C. 
                635(h)(2)) is amended by striking ``(J)'' and inserting 
                ``(I)''.
                    (B) Section 3 of such Act (12 U.S.C. 635a) is 
                amended in each of subsections (f)(1)(A) and (g)(7) by 
                striking ``(I)'' and inserting ``(H)''.
                    (C) Section 8 of such Act (12 U.S.C. 635g) is 
                amended in each of subsections (c) and (f)(8)(A) by 
                striking ``(J)'' and inserting ``(I)''.
                    (D) Section 8A(a)(5) of such Act (12 U.S.C. 635g-
                1(a)(5)) is amended by striking ``2(b)(1)(K)'' and 
                inserting ``2(b)(1)(J)''.
    (b) Definition of Marxist-leninist Country.--Section 2(b)(2)(B)(ii) 
of such Act (12 U.S .C. 635(b)(2)(B)(ii)) is amended by striking 
subclause (VII) and redesignating subclauses (VIII) and (IX) as 
subclauses (VII) and (VIII), respectively.

SEC. 14. EXAMINATION OF BANK SUPPORT FOR SMALL BUSINESS.

    Within 180 days after the date of the enactment of this Act, the 
Export-Import Bank of the United States shall examine and report to 
Congress on its current programs, products, and polices with respect to 
the implementation of its export credit insurance program, delegated 
lending authority, and direct loans, and any other programs, products, 
and policies established to support exports from small businesses in 
the United States, and determine the extent to which those policies 
adequately meet the needs of the small businesses in obtaining Bank 
financing to support the maintenance or creation of jobs in the United 
States through exports, consistent with the requirement that the Bank 
obtain a reasonable assurance of repayment.

SEC. 15. CATEGORIZATION OF PURPOSE OF LOANS AND LONG-TERM GUARANTEES IN 
              ANNUAL REPORT.

    Section 8 of the Export-Import Bank Act of 1945 (12 U.S.C. 635g), 
as amended by section 9 of this Act, is amended by adding at the end 
the following:
    ``(h) Categorization of Purpose of Loans and Long-Term 
Guarantees.--In the annual report of the Bank under subsection (a), the 
Bank shall categorize each loan and long-term guarantee made by the 
Bank in the fiscal year covered by the report, and according to the 
following purposes:
            ``(1) `To assume commercial or political risk that exporter 
        or private financial institutions are unwilling or unable to 
        undertake'.
            ``(2) `To overcome maturity or other limitations in private 
        sector export financing'.
            ``(3) `To meet competition from a foreign, officially 
        sponsored, export credit competition'.
            ``(4) `Not identified', and the reason why the purpose is 
        not identified.''.

SEC. 16. DISCLOSURE REQUIREMENT FOR BOARD MEETINGS.

    Section 3(c)(9) of the Export-Import Bank Act of 1945 (12 U.S.C. 
635a(a)) is amended by adding at the end the following new sentence: 
``Not later than 25 days before any meeting of the Board for final 
consideration of a transaction the value of which exceeds $75,000,000, 
and concurrent with any statement required to be submitted under 
section 2(b)(3) with respect to the transaction, the Bank shall post a 
notice on the website of the Bank that includes a description of the 
item proposed to be financed, the identities of the obligor, principal 
supplier, and guarantor, and a description of any item with respect to 
which Bank financing is being sought, in a manner that does not 
disclose any information that is confidential or proprietary business 
information, that would violate the Trade Secrets Act, or that would 
jeopardize jobs in the United States by supplying information which 
competitors could use to compete with companies in the United 
States.''.

SEC. 17. MODIFICATIONS RELATING TO THE ADVISORY COMMITTEE.

    (a) Representation of the Textile Industry.--Section 3(d)(1)(B) of 
the Export-Import Bank Act of 1945 (12 U.S.C. 635a(d)(1)(B)) is amended 
by striking ``and State government'' inserting ``State government, and 
the textile industry''.
    (b) Access to Bank Products by the Textile Industry.--
            (1) Consideration by advisory committee.--Section 3(d) of 
        such Act (12 U.S.C. 635a(d)) is amended by adding at the end 
        the following:
    ``(5) In carrying out paragraph (4), the Advisory Committee shall 
consider ways to promote the financing of Bank transactions for the 
textile industry, consistent with the requirement that the Bank obtain 
a reasonable assurance of repayment, and determine ways to--
            ``(A) increase Bank support for the exports of textile 
        components or inputs made in the United States; and
            ``(B) support the maintenance, promotion and expansion of 
        jobs in the United States that are critical to the manufacture 
        of textile components and inputs.''.
            (2) Annual report to congress on advisory committee 
        determinations.--Section 8 of such Act (12 U.S.C. 635g), as 
        amended by the preceding provisions of this Act, is amended by 
        adding at the end the following:
    ``(i) Access to Bank Products by the Textile Industry.--The Bank 
shall include in its annual report to the Congress under subsection (a) 
of this section a report on the determinations made by the Advisory 
Committee under section 3(d)(5) in the year covered by the report.''.

SEC. 18. FINANCING FOR GOODS MANUFACTURED IN THE UNITED STATES USED IN 
              GLOBAL TEXTILE AND APPAREL SUPPLY CHAINS.

    (a) Analysis of Textile Industry Use of Bank Products.--The Export-
Import Bank of the United States (in this section referred to as the 
``Bank'') shall conduct a study of the extent to which the products 
offered by the Bank are available and used by manufacturers in the 
United States that export goods manufactured in the United States used 
as components in global textile and apparel supply chains. In 
conducting the study, the Bank shall examine the following:
            (1) Impediments to use of Bank products by such firms.
            (2) The number of jobs in the United States that are 
        supported by the export of such component parts and the degree 
        to which access to financing will increase exports.
            (3) Specific proposals for how the Bank, using its 
        authority and products, could provide the financing, including 
        through risk-sharing with other export credit agencies and 
        other third parties.
            (4) Ways in which the Bank can take into account the full 
        global textile and apparel supply chain--in particular, the 
        ultimate purchase, and ultimate United States-based purchaser, 
        of the finished good, that would result from the supply chain--
        in making credit and risk determinations and the 
        creditworthiness of the ultimate purchaser.
            (5) Proposals for new products the Bank could offer to 
        provide the financing, including--
                    (A) the extent to which the Bank is authorized to 
                offer new products;
                    (B) the extent to which the Bank would need 
                additional authority to offer the new products; and
                    (C) specific proposals for changes in law that 
                would enable the Bank to provide such financing in 
                compliance with the credit and risk standards of the 
                Bank.
    (b) Report.--Within 180 days after the date of the enactment of 
this Act, the Bank shall submit to the Congress a report that contains 
the results of the study required by subsection (a).
    (c) Annual Reports.--Section 8 of the Export-Import Bank Act of 
1945 (12 U.S.C. 635g), as amended by the preceding provisions of this 
Act, is amended by adding at the end the following:
    ``(j) Textile and Apparel Supply Chain Financing.--The Bank shall 
include in its annual report to the Congress under subsection (a) of 
this section a description of the success of the Bank in providing 
effective and reasonably priced financing to the United States textile 
and apparel industry for exports of goods manufactured in the United 
States that are used as components in global textile and apparel supply 
chains in the year covered by the report, and steps the Bank has taken 
to increase the use of Bank products by such firms.''.

SEC. 19. PROHIBITION ON BANK ASSISTANCE FOR PROJECT TO BE PARTICIPATED 
              IN BY AN ENTITY THAT HAS RECENTLY ENGAGED IN CERTAIN 
              PROHIBITED ACTIVITIES WITH RESPECT TO IRAN.

    The Export-Import Bank of the United States shall not guarantee, 
insure, or extend (or participate in an extension of) credit in 
connection with the export of any good or service for a person, unless 
the person has certified to the Bank that, since July 1, 2010, neither 
the person, nor any other person under common ownership or control with 
the person--
            (1) has engaged in any activity for which sanctions may be 
        imposed under section 5(a) of the Iran Sanctions Act of 1996;
            (2) has provided sensitive technology (as defined in 
        section 106(c) of the Comprehensive Iran Sanctions, 
        Accountability, and Divestment Act of 2010) to the government 
        of Iran; or
            (3) if the person is a United States person, has engaged in 
        any activity prohibited by part 560 of title 31, Code of 
        Federal Regulations (also known as the ``Iran Transaction 
        Regulations'').

SEC. 20. EFFECTIVE DATE.

    This Act and the amendments made by this Act shall take effect on 
October 1, 2011.
                                                 Union Calendar No. 129

112th CONGRESS

  1st Session

                               H. R. 2072

                          [Report No. 112-201]

_______________________________________________________________________

                                 A BILL

  To reauthorize the Export-Import Bank of the United States, and for 
                            other purposes.

_______________________________________________________________________

                           September 8, 2011

  Reported with an amendment, committed to the Committee of the Whole 
       House on the State of the Union, and ordered to be printed
```