IB 

Union Calendar No. 322 

109TH CONGRESS 

2D SESSION H. R. 5068 

[Report No. 109–566] 

To reauthorize the operations of the Export-Import Bank, and to reform 

certain operations of the Bank, and for other purposes. 

IN THE HOUSE OF REPRESENTATIVES 

MARCH 30, 2006 

Ms. PRYCE of Ohio (for herself, Mr. OXLEY, Mr. FRANK of Massachusetts, 

Mrs. MALONEY, Mr. MANZULLO, Mrs. BIGGERT, and Ms. VELA ́ZQUEZ) 

introduced the following bill; which was referred to the Committee on Financial Services 

JULY 17, 2006 

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 March 30, 2006] 

A BILL 

To reauthorize the operations of the Export-Import Bank, 

and to reform certain operations of the Bank, 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, 


wwhite on PROD1PC61 with BILLS
2 

•HR 5068 RH 

1 SECTION 1. SHORT TITLE. 

2 This Act may be cited as the ‘‘Export-Import Bank 

3 Reauthorization Act of 2006’’. 

4 SEC. 2. TABLE OF CONTENTS. 

5 The table of contents of this Act is as follows: 

Sec. 1. Short title. 

Sec. 2. Table of contents. 

Sec. 3. Reauthorization. 

Sec. 4. Increasing exports by small businesses. 

Sec. 5. Office of financing for socially and economically disadvantaged small 

business concerns and small business concerns owned by women. 

Sec. 6. Sub-Saharan Africa. 

Sec. 7. Extension of authority. 

Sec. 8. Transparency initiatives. 

Sec. 9. Effect of the Bank on the budget of the United States. 

Sec. 10. Competitiveness initiatives. 

Sec. 11. Consideration of environmental matters by the Advisory Committee. 

Sec. 12. Study of how Export-Import Bank could assist United States exporters 

to meet import needs of new or impoverished democracies; reports. 

Sec. 13. Review of environmental screening requirement. 

Sec. 14. Office of Renewable Energy Promotion. 

Sec. 15. Transparency. 

Sec. 16. Anti-circumvention. 

Sec. 17. Performance standards applicable to Bank assistance for small businesses, especially those owned by social and economically disadvantaged individuals and those owned by women. 

Sec. 18. Prohibition on assistance to develop or promote any rail connections or 

railway-related connections that traverse or connect Baku, Azerbaijan, Tbilisi, Georgia, and Kars, Turkey, and that specifically 

exclude cities in Armenia. 

Sec. 19. Technical corrections. 

Sec. 20. Effective date. 

6 SEC. 3. REAUTHORIZATION. 

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

8 U.S.C. 635f) is amended by striking ‘‘2006’’ and inserting 

9 ‘‘2011’’. 

10 SEC. 4. INCREASING EXPORTS BY SMALL BUSINESSES. 

11 (a) ESTABLISHMENT OF SMALL BUSINESS DIVI12 SION.— 


wwhite on PROD1PC61 with BILLS
3 

•HR 5068 RH 

1 (1) IN GENERAL.—Section 3 of the Export-Im2 port Bank Act of 1945 (12 U.S.C. 635a) is amended 

3 by adding at the end the following: 

4 ‘‘(f) SMALL BUSINESS DIVISION.— 

5 ‘‘(1) ESTABLISHMENT.—The President of the 

6 Bank shall establish and maintain a division of the 

7 Bank whose sole functions shall be to— 

8 ‘‘(A) carry out subparagraphs (E) and (I) 

9 of section 2(b)(1), as such subparagraphs relate 

10 to outreach, feedback, product improvement, and 

11 transaction advocacy for small business concerns; 

12 ‘‘(B) advise and seek feedback from small 

13 business concerns of the opportunities and bene14 fits for small business concerns in the financing 

15 products offered by the Bank, with particular 

16 emphasis on conducting outreach, better tai17 loring products to small business needs and in18 creasing loans to small business concerns em19 ploying fewer than 100 employees; and 

20 ‘‘(C) maintain liaison with the Small Busi21 ness Administration and other departments and 

22 agencies in matters affecting small business con23 cerns. 


wwhite on PROD1PC61 with BILLS
4 

•HR 5068 RH 

1 ‘‘(2) MANAGEMENT.—The division shall be man2 aged by a Bank officer designated by the Board of Di3 rectors— 

4 ‘‘(A) who shall have substantial recent expe5 rience in financing exports by small business 

6 concerns; 

7 ‘‘(B) whose sole executive duty shall be to 

8 ensure that the division carries out the functions 

9 of the division; 

10 ‘‘(C) who shall advise the Board, particu11 larly the Director appointed under section 

12 3(c)(8)(B) to represent the interests of small 

13 business, on matters of interest to, and concern 

14 for, small business; 

15 ‘‘(D) who shall rank not lower than senior 

16 vice president of the Bank; and 

17 ‘‘(E) who shall report directly to the Presi18 dent of the Bank. 

19 ‘‘(3) RESOURCES.— 

20 ‘‘(A) IN GENERAL.—The President of the 

21 Bank shall ensure that the division has sufficient 

22 qualified staff and budgetary resources to carry 

23 out subparagraphs (E) and (I) of section 2(b)(1), 

24 as determined annually by the President of the 

25 Bank, after consultation with— 


wwhite on PROD1PC61 with BILLS
5 

•HR 5068 RH 

1 ‘‘(i) the officer referred to in para2 graph (2) of this subsection; 

3 ‘‘(ii) the Director appointed under sub4 section (c)(8)(B) of this section; 

5 ‘‘(iii) the Committee on Financial 

6 Services of the House of Representatives; 

7 and 

8 ‘‘(iv) the Committee on Banking, 

9 Housing, and Urban Affairs of the Senate. 

10 ‘‘(B) USES.— 

11 ‘‘(i) IN GENERAL.—The President of 

12 the Bank shall ensure that the staff and 

13 budgetary resources of the division are de14 voted solely to carrying out the functions of 

15 the division. 

16 ‘‘(ii) CERTAIN STAFF DUTIES.—The di17 vision shall include staff dedicated exclu18 sively to providing outreach, training, and 

19 advice to, seeking feedback from, and advo20 cating on behalf of small business concerns 

21 regarding Bank financing opportunities, 

22 products, and programs. 

23 ‘‘(C) RULE OF INTERPRETATION.—Nothing 

24 in this Act shall be construed to prevent the dele25 gation to the division of any authority necessary 


wwhite on PROD1PC61 with BILLS
6 

•HR 5068 RH 

1 to carry out subparagraphs (E) and (I) of sec2 tion 2(b)(1). 

3 ‘‘(4) SMALL BUSINESS CONCERN DEFINED.—In 

4 this subsection and subsections (g) and (h), the term 

5 ‘small business concern’ shall have the meaning estab6 lished under section 3(a) of the Small Business Act. 

7 ‘‘(g) HANDLING OF APPLICATIONS OF, AND PROC8 ESSING OF TRANSACTIONS INVOLVING SMALL BUSINESS

9 CONCERNS.—Consistent with the requirement that the Bank 

10 obtain a reasonable assurance of repayment for each trans11 action the Bank supports, the Bank shall establish and 

12 maintain transaction standards tailored to the special cir13 cumstances of small business concerns and shall use the 

14 standards in evaluating applications by the concerns for 

15 Bank financing. The Bank shall ensure that each appro16 priate division of the Bank has staff dedicated to the proc17 essing of transactions involving small business concerns. 

18 ‘‘(h) SMALL BUSINESS COMMITTEE.— 

19 ‘‘(1) ESTABLISHMENT.—The Bank shall establish 

20 and maintain a committee to be known as the ‘Small 

21 Business Committee’. 

22 ‘‘(2) PRINCIPAL PURPOSE.—The principal pur23 pose of the Small Business Committee shall be to 

24 focus on small business concerns and coordinate the 

25 efforts of the Bank with respect to small business conVerDate Aug 31 2005 22:42 Jul 17, 2006 Jkt 049200 PO 00000 Frm 00006 Fmt 6652 Sfmt 6203 E:\BILLS\H5068.RH H5068

wwhite on PROD1PC61 with BILLS
7 

•HR 5068 RH 

1 cerns, including the timely processing of small busi2 ness product applications and the evolution of new or 

3 improved Bank products to better serve small business 

4 needs. 

5 ‘‘(3) COMPOSITION.— 

6 ‘‘(A) CHAIRMAN.—The chairman of the 

7 Small Business Committee shall be the Senior 

8 Vice President of the Bank who is responsible for 

9 management of the Small Business Division of 

10 the Bank. 

11 ‘‘(B) OTHER MEMBERS.—The President of 

12 the Bank shall ensure that the committee is com13 prised of officers and employees throughout the 

14 Bank that have responsibility for outreach and 

15 processing transactions involving small business 

16 concerns. 

17 ‘‘(4) REPORTS.—The Small Business Committee 

18 shall report to the President of the Bank.’’. 

19 (2) COORDINATION IN FINANCING OF SMALL

20 BUSINESS EXPORTS.—Section 2(b)(1)(E)(vii)(I) of 

21 such Act (12 U.S.C. 635(b)(1)(E)(vii)(I)) is amended 

22 by adding at the end the following: ‘‘The Bank shall 

23 work in coordination with the entities described in 

24 the preceding sentence to streamline the processing of 

25 applications for Bank financing from small business 


wwhite on PROD1PC61 with BILLS
8 

•HR 5068 RH 

1 concerns and to provide training and advice as re2 quired on the needs and benefits of export financing 

3 for small business concerns.’’ 

4 (b) REPORT ON FEES CHARGED TO, AND TRANS5 ACTIONS COSTS INCURRED BY, SMALL AND MEDIUM BUSI6 NESS FOR BANK SERVICES.—Section 8 of such Act (12 

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

8 ‘‘(f) REPORT ON FEES CHARGED TO, AND TRANS9 ACTIONS COSTS INCURRED BY, SMALL AND MEDIUM BUSI10 NESS FOR BANK SERVICES.—The Bank shall submit to the 

11 Congress annually, and include in a separate section of the 

12 annual report to the Congress under subsection (a) of this 

13 section, a report on— 

14 ‘‘(1) with respect to each type of transaction, the 

15 interest and fees charged by the Bank to exporters 

16 (including a description of fees and interest, if any, 

17 charged to small business concerns), buyers, and other 

18 applicants in connection with each financing pro19 gram of the Bank, and the highest, lowest, and aver20 age fees charged by the Bank for short term insurance 

21 transactions; 

22 ‘‘(2) the effects of the fees on the ability of the 

23 Bank to achieve the objectives of the Bank relating to 

24 small business; and 


wwhite on PROD1PC61 with BILLS
9 

•HR 5068 RH 

1 ‘‘(3) the fee structure of the Bank as compared 

2 with that of other foreign export credit agencies.’’. 

3 (c) REPORT ON FINANCING DIRECTED TOWARD SMALL

4 BUSINESS.—Section 8 of such Act (12 U.S.C. 635g), as 

5 amended by subsection (b) of this section, is amended by 

6 adding at the end the following: 

7 ‘‘(g) REPORT ON FINANCING DIRECTED TOWARD

8 SMALL BUSINESS.—The Bank shall submit annually to the 

9 Committees on Financial Services and on Small Business 

10 of the House of Representatives— 

11 ‘‘(1) a report on the extent to which the Bank 

12 has been able to use the authorities referred to in sec13 tion 2(b)(1)(E)(iv), and, to the extent the Bank has 

14 been unable to fully do so, a report on the obstacles 

15 to doing so and on what the Bank is doing to over16 come the obstacles; 

17 ‘‘(2) a report on the extent to which financing 

18 has been made available to small business concerns to 

19 enable them to participate in exports by major con20 tractor, including through access to the supply chains 

21 of the contractors through direct or indirect funding; 

22 and 

23 ‘‘(3) a strategic plan of action describing how, in 

24 the upcoming year, the Bank will take specific meas25 ures to achieve the small business objectives of the 


wwhite on PROD1PC61 with BILLS
10 

•HR 5068 RH 

1 Bank, including expanded outreach, product improve2 ments, and related actions.’’. 

3 (d) CONFORMING AMENDMENTS.— 

4 (1) IN GENERAL.— 

5 (A) Section 2(b)(1)(E) of such Act (12 

6 U.S.C. 635(b)(1)(E)), as amended by subsection 

7 (a)(2) of this section, is amended— 

8 (i) in clause (i)(II), by striking ‘‘gives 

9 fair consideration to making loans and pro10 viding’’ and inserting ‘‘make loans and pro11 vide’’; 

12 (ii) by striking clause (iii); 

13 (iii) in clause (iv), by striking ‘‘clauses 

14 (ii) and (iii) of this subparagraph’’ and in15 serting ‘‘clause (ii)’’; 

16 (iv) in clause (vi)— 

17 (I) by striking ‘‘clause (v) of this 

18 subparagraph’’ and insert ‘‘clause 

19 (iv)’’; and 

20 (II) by striking ‘‘clause (vi)’’ and 

21 inserting ‘‘clause’’; 

22 (v) in clause (vii)— 

23 (I) in subclause (I), by striking 

24 ‘‘(v)’’ and inserting ‘‘(iv)’’; and 


wwhite on PROD1PC61 with BILLS
11 

•HR 5068 RH 

1 (II) in each of subclauses (II), 

2 (III), and (IV), by striking ‘‘clause 

3 (vii)’’ and inserting ‘‘clause’’; and 

4 (vi) by redesignating clauses (iv) 

5 through (x) as clauses (iii) through (ix), re6 spectively. 

7 (B) Section 8 of such Act (12 U.S.C. 635g) 

8 is amended— 

9 (i) in subsection (b)(2)(B), by striking 

10 ‘‘2(b)(1)(E)(vii)’’ and inserting 

11 ‘‘2(b)(1)(E)(vi)’’; and 

12 (ii) in subsection (c), by striking 

13 ‘‘(E)(x)’’ and inserting ‘‘(E)(ix)’’. 

14 (2) UNIFORM MEANING OF SMALL BUSINESS.— 

15 Section 2(b)(1)(E) of such Act (12 U.S.C. 

16 635(b)(1)(E)), as amended by subsection (a)(2) of this 

17 section and paragraph (1) of this subsection, is 

18 amended— 

19 (A) in clause (i)(II), by striking ‘‘busi20 nesses’’ and inserting ‘‘business concerns’’; 

21 (B) in clause (iv), by striking ‘‘(as defined 

22 under section 3 of the Small Business Act)’’; 

23 (C) in each of clauses (v), (vi) and (vii), by 

24 striking ‘‘small business exports’’ each place it 


wwhite on PROD1PC61 with BILLS
12 

•HR 5068 RH 

1 appears and inserting ‘‘exports by small business 

2 concerns’’; and 

3 (D) by adding at the end the following: 

4 ‘‘(x) In this subparagraph, the term ‘small business 

5 concern’ shall have the meaning established under section 

6 3(a) of the Small Business Act.’’. 

7 (e) ENHANCE DELEGATED LOAN AUTHORITY FOR ME8 DIUM TERM TRANSACTIONS.— 

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

10 the United States shall seek to expand the exercise of 

11 authority under section 2(b)(1)(E)(vi) of the Export12 Import Bank Act of 1945 (as so redesignated by sub13 section (d)(1)(A)(vi) of this section) with respect to 

14 medium term transactions for small business concerns 

15 (as defined under section 3(a) of the Small Business 

16 Act). 

17 (2) CONFORMING AMENDMENT.—Section 

18 2(b)(1)(E)(vi)(III) of the Export-Import Bank Act of 

19 1945 (12 U.S.C. 635(b)(1)(E)(vi)(III)), as so redesig20 nated by subsection (d)(1)(A)(vi) of this section, is 

21 amended by striking ‘‘To the maximum extent prac22 ticable, the’’ and inserting ‘‘The’’. 

23 (3) DEADLINE.—Within 180 days after the date 

24 of the enactment of this Act, the Export-Import Bank 

25 of the United States shall make available lines of 


wwhite on PROD1PC61 with BILLS
13 

•HR 5068 RH 

1 credit and guarantees to carry out section 

2 2(b)(1)(E)(vi) of the Export-Import Bank Act of 1945 

3 (as so redesignated by subsection (d)(1)(A)(vi) of this 

4 section), pursuant to policies and procedures estab5 lished by the Board of Directors of the Export-Import 

6 Bank of the United States. 

7 SEC. 5. OFFICE OF FINANCING FOR SOCIALLY AND ECO8 NOMICALLY DISADVANTAGED SMALL BUSI9 NESS CONCERNS AND SMALL BUSINESS CON10 CERNS OWNED BY WOMEN. 

11 (a) IN GENERAL.—Section 3(f) of the Export-Import 

12 Bank Act of 1945 (12 U.S.C. 635a(f)), as added by section 

13 4(a) of this Act, is amended by redesignating paragraph 

14 (4) as paragraph (5) and by inserting after paragraph (3) 

15 the following: 

16 ‘‘(4) OFFICEOF FINANCING FOR SOCIALLY AND

17 ECONOMICALLY DISADVANTAGED SMALL BUSINESS

18 CONCERNS AND SMALL BUSINESS CONCERNS OWNED

19 BY WOMEN.— 

20 ‘‘(A) ESTABLISHMENT.—The President of 

21 the Bank shall establish in the division an office 

22 whose sole functions shall be to continue and en23 hance the outreach activities of the Bank with re24 spect to, and increase the total amount of loans, 

25 guarantees, and insurance provided by the Bank 


wwhite on PROD1PC61 with BILLS
14 

•HR 5068 RH 

1 to support exports by, socially and economically 

2 disadvantaged small business concerns (as de3 fined in section 8(a)(4) of the Small Business 

4 Act) and small business concerns owned by 

5 women. 

6 ‘‘(B) MANAGEMENT.—The office shall be 

7 managed by a Bank officer of appropriate rank 

8 who shall report to the Bank officer designated 

9 under section 3(f)(2). 

10 ‘‘(C) STAFFING.—To the maximum extent 

11 practicable, the President of the Bank shall en12 sure that qualified minority and women appli13 cants are considered when filling any position in 

14 the office.’’. 

15 (b) FINANCING DIRECTED TOWARD SMALL BUSI16 NESSES OWNED BY MINORITIES OR WOMEN.—Section 

17 2(b)(1)(E)(iv) of such Act (12 U.S.C. 635(b)(1)(E)(iv)), as 

18 so redesignated by section 4(d)(1)(A)(vi) of this Act, is 

19 amended by adding at the end the following: ‘‘From the 

20 amount made available under the preceding sentence, it 

21 shall be a goal of the Bank to make available not less than 

22 15 percent of the amount to finance exports directly by 

23 small business concerns referred to in section 3(f)(4)(A).’’. 

24 (c) REPORT ON FINANCING DIRECTED TOWARD SMALL

25 BUSINESSES OWNED BY MINORITIES OR WOMEN.—Section 


wwhite on PROD1PC61 with BILLS
15 

•HR 5068 RH 

1 8(g)(1) of such Act (12 U.S.C. 635g(g)(1)), as added by sec2 tion 4(c) of this Act, is amended by inserting ‘‘and to fi3 nance exports by small business concerns referred to in sec4 tion 3(f)(4)(A),’’ before ‘‘and, to the extent’’. 

5 (d) REPORT ON BANK EFFORTS TO SUPPORT EXPORTS

6 BY SOCIALLY AND ECONOMICALLY DISADVANTAGED SMALL

7 BUSINESS CONCERNS AND SMALL BUSINESS CONCERNS

8 OWNED BY WOMEN.—Section 8 of such Act (12 U.S.C. 

9 635g), as amended by section 4 of this Act, is amended by 

10 adding at the end the following: 

11 ‘‘(h) REPORT ON EFFORTS TO SUPPORT EXPORTS BY

12 SMALL- AND MEDIUM-SIZED BUSINESSES OWNED BY

13 WOMEN OR MINORITIES.—Not later than March 1 of each 

14 year, the Director appointed under section 3(c)(8)(B) of this 

15 Act shall prepare and submit to the Committee on Finan16 cial Services of the House of Representatives and the Com17 mittee on Banking, Housing, and Urban Affairs of the Sen18 ate, and the Bank shall include in a separate section of 

19 the annual report submitted pursuant to subsection (a) of 

20 this section, a written report that describes the progress 

21 made by the Bank in supporting exports by socially and 

22 economically disadvantaged small business concerns (as de23 fined in section 8(a)(4) of the Small Business Act) and 

24 small business concerns owned by women.’’. 


wwhite on PROD1PC61 with BILLS
16 

•HR 5068 RH 

1 SEC. 6. SUB-SAHARAN AFRICA. 

2 (a) EXTENSION OF ADVISORY COMMITTEE.—Section 

3 2(b)(9)(B)(iii) of the Export-Import Bank Act of 1945 (12 

4 U.S.C. 635(b)(9)(B)(iii)) is amended by striking ‘‘2006’’ 

5 and inserting ‘‘2011’’. 

6 (b) IMPROVED LIAISON WITH AFRICAN REGIONAL FI7 NANCIAL INSTITUTIONS.— 

8 (1) MASTER GUARANTEE AGREEMENTS.—Within 

9 1 year after the date of the enactment of this Act, the 

10 Export-Import Bank of the United States shall seek 

11 to ensure that there is in effect a contract between 

12 each approved lender in Africa and the Bank, which 

13 sets forth the Bank’s guarantee undertakings and re14 lated obligations between the Bank and the lender. 

15 (2) REPORT ON WORKING RELATIONSHIPS WITH

16 THE AFRICAN DEVELOPMENT BANK, THEAFRICA EX17 PORT-IMPORT BANK, AND OTHER INSTITUTIONS.—Sec18 tion 2(b)(9) of such Act (12 U.S.C. 635(b)(9)) is 

19 amended by adding at the end the following: 

20 ‘‘(C) The Bank shall include in the annual report to 

21 the Congress submitted under section 8(a) a separate section 

22 that contains a report on the efforts of the Bank to improve 

23 working relationships with the African Development Bank, 

24 the Africa Export-Import Bank, and other institutions in 

25 the region that are relevant to the purposes of subparagraph 

26 (A) of this paragraph.’’. 


wwhite on PROD1PC61 with BILLS
17 

•HR 5068 RH 

1 (c) CLOSER COOPERATION WITH OTHER UNITED

2 STATES AGENCIES WORKING IN AFRICA.—Section 2(b)(9) 

3 of such Act (12 U.S.C. 635(b)(9)) is further amended by 

4 adding at the end the following: 

5 ‘‘(D) The Bank shall closely coordinate with the 

6 United States Foreign Commercial Service and with the 

7 overall strategy of the United States Government, for eco8 nomic engagement with Africa pursuant to the African 

9 Growth and Opportunity Act. 

10 ‘‘(E) The Bank shall develop initiatives to train For11 eign Service and Commercial Service officers serving at 

12 United State embassies in Africa, in the use of Bank pro13 grams, so the officers can encourage African buyers to take 

14 part in transactions supported by the Bank.’’. 

15 (d) ADJUSTMENTS TO PROCEDURES TO PROMOTE

16 QUALIFICATION OF AFRICAN ENTITIES.—Section 2(b)(9) of 

17 such Act (12 U.S.C. 635(b)(9)) is further amended by add18 ing at the end the following: 

19 ‘‘(F) Consistent with the requirement that the Bank 

20 obtain a reasonable assurance of repayment in connection 

21 with each transaction the Bank supports, the Bank shall, 

22 in consultation with the entities described in subparagraph 

23 (C), seek greater flexibility in the due-diligence procedures 

24 of the Bank for the purpose of qualifying a greater number 


wwhite on PROD1PC61 with BILLS
18 

•HR 5068 RH 

1 of appropriate African entities for participation in pro2 grams of the Bank.’’. 

3 (e) LOCAL CURRENCY FINANCING.—Section 2(b)(9) of 

4 such Act (12 U.S.C. 635(b)(9)) is further amended by add5 ing at the end the following: 

6 ‘‘(G) The Bank shall develop procedures under which 

7 the Bank is capable of financing certain African programs 

8 in local currencies.’’. 

9 SEC. 7. EXTENSION OF AUTHORITY. 

10 Section 1(c) of Public Law 103–428 (12 U.S.C. 635 

11 note) is amended by striking ‘‘2001’’ and inserting ‘‘2011’’. 

12 SEC. 8. TRANSPARENCY INITIATIVES. 

13 (a) FREQUENCY OF MEETINGS.—Section 3(c) of the 

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

15 amended by adding at the end the following: 

16 ‘‘(9) The Board of Directors shall meet not less fre17 quently than biweekly. 

18 ‘‘(10) At the request of any 2 members of the Board 

19 of Directors, the Chairman shall place an item on the agen20 da for consideration by the Board. Within 30 days after 

21 the date such a request is made, the Chairman shall hold 

22 a meeting of the Board at which the item will be consid23 ered.’’. 

24 (b) VOTING REQUIRED IN CASES INVOLVING ECO25 NOMIC IMPACT ANALYSIS.—Section 2(e) of such Act (12 


wwhite on PROD1PC61 with BILLS
19 

•HR 5068 RH 

1 U.S.C. 635(e)) is amended by adding at the end the fol2 lowing: 

3 ‘‘(5) BOARD VOTE REQUIRED.—Within 60 days 

4 after completing a review, pursuant to this subsection, 

5 of a proposed loan or guarantee (including any appli6 cable comment period), the Board of Directors shall 

7 hold a vote to determine whether or not to proceed 

8 with the proposed loan or guarantee, unless the appli9 cant has withdrawn the application for the loan or 

10 guarantee.’’. 

11 (c) PROCESS FOR NOTIFYING APPLICANTS OF APPLI12 CATION STATUS.—Section 2 of such Act (12 U.S.C. 635) 

13 is amended by adding at the end the following: 

14 ‘‘(g) PROCESS FOR NOTIFYING APPLICANTS OF APPLI15 CATION STATUS.—The Bank shall establish and adhere to 

16 a clearly defined process for— 

17 ‘‘(1) acknowledging receipt of applications; 

18 ‘‘(2) informing applicants that their applica19 tions are complete or, if incomplete or containing a 

20 minor defect, of the additional material or changes 

21 that, if supplied or made, would make the application 

22 eligible for consideration; and 

23 ‘‘(3) keeping applicants informed of the status of 

24 their applications, including a clear and timely noti25 fication of approval or disapproval, and, in the case 


wwhite on PROD1PC61 with BILLS
20 

•HR 5068 RH 

1 of disapproval, the reason for disapproval, as appro2 priate.’’. 

3 (d) RESPONSE TO APPLICATION FOR FINANCING; IM4 PLEMENTATION OF ONLINE LOAN REQUEST AND TRACKING

5 PROCESS.—Section 2 of such Act (12 U.S.C. 635) is further 

6 amended by adding at the end the following: 

7 ‘‘(h) RESPONSE TO APPLICATION FOR FINANCING; IM8 PLEMENTATION OF ONLINE LOAN REQUEST AND TRACKING

9 PROCESS.—Within 5 days after receipt of an application 

10 for financing from the Bank, the Bank shall notify the ap11 plicant that the application has been received, and shall 

12 include in the notice a request for such additional informa13 tion as may be necessary to make the application complete, 

14 the name of a Bank employee who may be contacted with 

15 questions relating to the application, and a unique identi16 fication number which may be used to review the status 

17 of the application at a website established as provided in 

18 the next sentence. Not later than September 1, 2006, the 

19 Bank shall use the authorities provided by subparagraphs 

20 (E)(ix) and (J) of subsection (b)(1) of this section to estab21 lish, and thereafter to maintain, a website through which 

22 any Bank product may be applied for, information may 

23 be obtained about the status of any such application, about 

24 the small business division of the Bank, or about incentives, 

25 preferences, targets, and goals relating to small business 


wwhite on PROD1PC61 with BILLS
21 

•HR 5068 RH 

1 concerns referred to in section 3(f)(4)(A) or small business 

2 concerns exporting to Africa.’’. 

3 (e) REPORTS RELATING TO TECHNOLOGY TO ASSIST

4 SMALL BUSINESSES.— 

5 (1) REPORTS BY THE BANK.— 

6 (A) INITIAL REPORT.—Within 60 days after 

7 the date of the enactment of this Act, the Presi8 dent of the Export-Import Bank of the United 

9 States shall submit to the Committee on Finan10 cial Services of the House of Representatives and 

11 the Committee on Banking, Housing, and Urban 

12 Affairs of the Senate a report on— 

13 (i) the efforts made by the Bank to 

14 carry out subparagraphs (E)(ix) and (J) of 

15 section 2(b)(1) of the Export-Import Bank 

16 Act of 1945, including the total amount ex17 pended by the Bank to do so; and 

18 (ii) if the Bank has been unable to 

19 comply with such subparagraphs— 

20 (I) an analysis of the reasons 

21 therefor; 

22 (II) what the Bank is doing to 

23 achieve, and the date by which the 

24 Banks expects to have achieved, such 

25 compliance; and 


wwhite on PROD1PC61 with BILLS
22 

•HR 5068 RH 

1 (III) the name of each Bank offi2 cer who is responsible for ensuring that 

3 the Bank achieves, and the name of the 

4 person to whom the Bank officer re5 ports on progress in achieving, such 

6 compliance. 

7 (B) SUBSEQUENT ANNUAL REPORTS.—Sec8 tion 8(c) of the Export-Import Bank Act of 1945 

9 (12 U.S.C. 635g(c)), as amended by section 

10 4(d)(1)(B)(ii) of this Act, is amended to read as 

11 follows: 

12 ‘‘(c) TECHNOLOGY TO ASSIST SMALL BUSINESSES.— 

13 The Bank shall include in its annual report to the Congress 

14 under subsection (a) of this section for each of fiscal years 

15 2007 through 2011 a separate section that contains— 

16 ‘‘(1) a report on the efforts made by the Bank to 

17 carry out subparagraphs (E)(ix) and (J) of section 

18 2(b)(1) of this Act, the total amount expended in the 

19 fiscal year to do so, and how the efforts are assisting 

20 small business concerns (as defined under section 3(a) 

21 of the Small Business Act); and 

22 ‘‘(2) if the Bank has been unable to comply fully 

23 with such subparagraphs— 

24 ‘‘(A) an analysis of the reasons therefor; 


wwhite on PROD1PC61 with BILLS
23 

•HR 5068 RH 

1 ‘‘(B) a description of what the Bank is 

2 doing to achieve, and the date by which the 

3 Banks expects to have achieved, such full compli4 ance; and 

5 ‘‘(C) the name of each Bank officer who is 

6 responsible for ensuring that the Bank achieves, 

7 and the name of the person to whom the Bank 

8 officer reports on progress in achieving, such full 

9 compliance.’’. 

10 (2) REPORT BY THE INSPECTOR GENERAL OF

11 THEBANK.—Within 120 days after the date of the en12 actment of this Act or, if later, within 30 days after 

13 the date the vacancy in the position of the Inspector 

14 General of the Export-Import Bank of the United 

15 States is filled, the Inspector General of the Export16 Import Bank of the United States shall submit to the 

17 Committee on Financial Services of the House of Rep18 resentatives and the Committee on Banking, Housing, 

19 and Urban Affairs of the Senate— 

20 (A) a report on the efforts made by the 

21 Bank to carry out subparagraphs (E)(ix) and 

22 (J) of section 2(b)(1) of the Export-Import Bank 

23 Act of 1945, the total amount expended to do so, 

24 and how the efforts are assisting small business 


wwhite on PROD1PC61 with BILLS
24 

•HR 5068 RH 

1 concerns (as defined under section 3(a) of the 

2 Small Business Act); and 

3 (B) if the Bank has been unable to comply 

4 with such subparagraphs— 

5 (i) an analysis of the reasons therefor; 

6 (ii) a description of what the Bank is 

7 doing to achieve, and the date by which the 

8 Banks expects to have achieved, such com9 pliance; and 

10 (iii) the name of each Bank officer who 

11 is responsible for ensuring that the Bank 

12 achieves, and the name of the person to 

13 whom the Bank officer reports on progress 

14 in achieving, such compliance. 

15 (f) PUBLIC DISCLOSUREOF CERTAIN DOCUMENTS.— 

16 Section 11(a)(1) of the Export-Import Bank of 1945 (12 

17 U.S.C. 635i–5(a)(1)) is amended by inserting after the first 

18 sentence the following: ‘‘Such procedures shall provide for 

19 the public disclosure of environmental assessments and sup20 plemental environmental reports required to be submitted 

21 to the Bank, including remediation or mitigation plans and 

22 procedures, and related monitoring reports. The preceding 

23 sentence shall not be interpreted to require the public disclo24 sure of any information described in section 1905 of title 

25 18, United States Code.’’. 


wwhite on PROD1PC61 with BILLS
25 

•HR 5068 RH 

1 SEC. 9. EFFECT OF THE BANK ON THE BUDGET OF THE 

2 UNITED STATES. 

3 Within 90 days after the date of the enactment of this 

4 Act, the Export-Import Bank of the United States shall sub5 mit to the appropriate committees of the Congress a report 

6 on the revenues, expenditures, and resulting annual net in7 come or expense to the United States for each of the 10 years 

8 most recently completed before the date of the report. 

9 SEC. 10. COMPETITIVENESS INITIATIVES. 

10 (a) EXPANSION OF SCOPEOF ANNUAL COMPETITIVE11 NESS REPORT.— 

12 (1) CONSOLIDATION AND REORGANIZATION OF

13 PROVISIONS.—The Export-Import Bank Act of 1945 

14 (12 U.S.C. 635—635i–9) is amended by inserting 

15 after section 8 the following: 

16 ‘‘SEC. 8A. ANNUAL COMPETITIVENESS REPORT. 

17 ‘‘(a) IN GENERAL.—Not later than June 30 of each 

18 year, the Bank shall submit to the appropriate committees 

19 of the Congress a report that includes the following: 

20 ‘‘(1) ACTIONS OF BANK IN PROVIDING FINANCING

21 ON A COMPETITIVE BASIS, AND TO MINIMIZECOM22 PETITION IN GOVERNMENT-SUPPORTED EXPORT FI23 NANCING.—A description of the actions of the Bank in 

24 complying with the 2nd and 3rd sentences of section 

25 2(b)(1)(A). In this part of the report, the Bank shall 

26 include a survey of all other major export-financing 


wwhite on PROD1PC61 with BILLS
26 

•HR 5068 RH 

1 facilities available from other governments and gov2 ernment-related agencies through which foreign ex3 porters compete with United States exporters (includ4 ing through use of market windows (as defined in sec5 tion 10(h)(7)) and indicate in specific terms the ways 

6 in which the Bank’s rates, terms, and other conditions 

7 compare with those offered from such other govern8 ments directly or indirectly. With respect to the pre9 ceding sentence, the Bank shall use all available infor10 mation to estimate the annual amount of export fi11 nancing available from each such government and 

12 government-related agency. In this part of the report, 

13 the Bank shall include a survey of a representative 

14 number of United States exporters and United States 

15 commercial lending institutions which provide export 

16 credit to determine the experience of the exporters and 

17 institutions in meeting financial competition from 

18 other countries whose exporters compete with United 

19 States exporters. 

20 ‘‘(2) ROLE OF BANK IN IMPLEMENTING STRA21 TEGIC PLAN PREPARED BY THE TRADE PROMOTION

22 COORDINATING COMMITTEE.—A description of the role 

23 of the Bank in implementing the strategic plan pre24 pared by the Trade Promotion Coordinating ComVerDate Aug 31 2005 22:42 Jul 17, 2006 Jkt 049200 PO 00000 Frm 00026 Fmt 6652 Sfmt 6203 E:\BILLS\H5068.RH H5068

wwhite on PROD1PC61 with BILLS
27 

•HR 5068 RH 

1 mittee in accordance with section 2312 of the Export 

2 Enhancement Act of 1988. 

3 ‘‘(3) TIED AID CREDIT PROGRAM AND FUND.— 

4 The report required by section 10(g). 

5 ‘‘(4) PURPOSEOF ALL BANK TRANSACTIONS.—A 

6 description of all Bank transactions which shall be 

7 classified according to their principal purpose, such 

8 as to correct a market failure or to provide matching 

9 support. 

10 ‘‘(5) EFFORTS OF BANK TO PROMOTEEXPORT OF

11 GOODS AND SERVICES RELATED TO RENEWABLE EN12 ERGY SOURCES.—A description of the efforts under13 taken under section 2(b)(1)(K). 

14 ‘‘(6) SIZEOF BANK PROGRAM ACCOUNT.—A sep15 arate section which— 

16 ‘‘(A) compares the size of the Bank program 

17 account with the size of the program accounts of 

18 the other major export-financing facilities re19 ferred to in paragraph (1); and 

20 ‘‘(B) makes recommendations with respect 

21 to the relative size of the Bank program account, 

22 based on factors including whether the size dif23 ferences are in the best interests of the United 

24 States taxpayer. 


wwhite on PROD1PC61 with BILLS
28 

•HR 5068 RH 

1 ‘‘(7) CO-FINANCING PROGRAMS OF THEBANK

2 AND OF OTHER EXPORT CREDIT AGENCIES.—A sepa3 rate section which describes the co-financing programs 

4 of the Bank and of the other major export-financing 

5 facilities referred to in paragraph (1), which shall in6 clude a list of which countries with which the United 

7 States has in effect a memorandum of understanding 

8 relating to export credit agency co-financing and an 

9 explanation of why such a memorandum is not in ef10 fect with the countries with which such a memo11 randum is not in effect. 

12 ‘‘(8) AFTER-MARKET SERVICES SUPPORT BY THE

13 BANK AND BY OTHER EXPORT CREDIT AGENCIES.—A 

14 separate section which describes the participation of 

15 the Bank in providing funding, guarantees, or insur16 ance for after-market services, which shall include ap17 propriate information on the involvement of the other 

18 major export-financing facilities referred to in para19 graph (1) in providing such support for after-market 

20 services, and an explanation of any differences among 

21 the facilities in providing the support. 

22 ‘‘(9) EXPORT FINANCECASES NOT IN COMPLI23 ANCEWITH THEARRANGEMENT.—Detailed informa24 tion on cases of export finance that are not in compli25 ance with the Arrangement (as defined in section 


wwhite on PROD1PC61 with BILLS
29 

•HR 5068 RH 

1 10(h)(3)) or that exploit loopholes in the Arrangement 

2 for the purpose of obtaining a commercial competitive 

3 advantage. 

4 ‘‘(10) FOREIGN EXPORT CREDIT AGENCY ACTIVI5 TIES NOT CONSISTENT WITH THE WTO AGREEMENT

6 ON SUBSIDIES AND COUNTERVAILING MEASURES.—A 

7 description of the extent to which the activities of for8 eign export credit agencies and other entities spon9 sored by a foreign government, particularly those that 

10 are not members of the Arrangement (as defined in 

11 section 10(h)(3)), are not in compliance with the Ar12 rangement and may not be consistent with the terms 

13 of the Agreement on Subsidies and Countervailing 

14 Measures referred to in section 101(d)(12) of the Uru15 guay Round Agreements Act (19 U.S.C. 3511(d)(12)), 

16 and a description of the actions taken by the United 

17 States Government to address the activities. 

18 ‘‘(b) BOARD VOTEON REPORT REQUIRED.—The 

19 Board of Directors shall vote to approve and shall sign each 

20 report required by subsection (a). 

21 ‘‘(c) INCLUSION OF DISSENTING VIEWS, ETC.—Each 

22 report required by subsection (a) shall include such dis23 senting views and additional comments as any member of 

24 the Board of Directors may submit to the Board for inclu25 sion in the report.’’. 


wwhite on PROD1PC61 with BILLS
30 

•HR 5068 RH 

1 (2) CONFORMING AMENDMENT.—Section 

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

3 amended by striking all that follows the 3rd sentence. 

4 (b) REPORT ON INVOLVEMENT OF THE BANK AND OF

5 OTHER EXPORT CREDIT AGENCIES IN REGIONAL MULTI6 BUYER INSURANCE PROGRAMS AND WORKING-CAPITAL

7 GUARANTEE PROGRAMS.—Section 8 of such Act (12 U.S.C. 

8 635g), as amended by sections 4 and 5 of this Act, is amend9 ed by adding at the end the following: 

10 ‘‘(i) REPORT ON INVOLVEMENT OF THE BANK AND OF

11 OTHER EXPORT CREDIT AGENCIES IN REGIONAL MULTI12 BUYER INSURANCE PROGRAMS AND WORKING-CAPITAL

13 GUARANTEE PROGRAMS.—The Bank shall include in its 

14 annual report to the Congress under subsection (a) of this 

15 section a separate section that contains a report on— 

16 ‘‘(1) regional multi-buyer insurance programs 

17 and working capital guarantee programs operated by, 

18 through, or in conjunction with the Bank, which shall 

19 include an analysis of the effectiveness of the pro20 grams and of how effective the programs would be in 

21 increasing export-related jobs in the United States if 

22 the programs were larger; 

23 ‘‘(2) the size of similar programs of all other 

24 major export-financing facilities available from other 

25 governments and government-related agencies through 


wwhite on PROD1PC61 with BILLS
31 

•HR 5068 RH 

1 which foreign exporters compete with United States 

2 exporters (including through use of market windows 

3 (as defined in section 10(h)(7)); and 

4 ‘‘(3) as a detailed explanation, with respect to 

5 the programs, of the working relationship between the 

6 Bank and the Small Business Administration, the 

7 Department of Commerce, and other United States 

8 Government agencies concerned with increasing the 

9 number of export-related jobs in the United States.’’. 

10 (c) CLARIFICATION OF USEOF TIED AID CREDIT

11 FUND TO MATCH.—Section 10 of the Export-Import Bank 

12 Act of 1945 (12 U.S.C. 635i–3) is amended— 

13 (1) in subsection (a)— 

14 (A) in paragraph (5)— 

15 (i) in the matter preceding subpara16 graph (A), by striking ‘‘two’’ and inserting 

17 ‘‘3’’; 

18 (ii) in subparagraph (A)(iv), by strik19 ing ‘‘and’’; and 

20 (iii) by adding at the end the fol21 lowing: 

22 ‘‘(C) third, the Bank should support United 

23 States exporters when the exporters face foreign 

24 competition that is supported by foreign export 

25 credit agencies or other entities sponsored by a 


wwhite on PROD1PC61 with BILLS
32 

•HR 5068 RH 

1 foreign government that are not party to the Ar2 rangement; and’’; and 

3 (B) in paragraph (6)— 

4 (i) in the matter preceding subpara5 graph (A), by inserting ‘‘including those 

6 that are not a party to the Arrangement’’ 

7 after ‘‘countries’’; 

8 (ii) in subparagraph (B), by adding 

9 ‘‘and’’ at the end; and 

10 (iii) by inserting after subparagraph 

11 (B) the following: 

12 ‘‘(C) promoting compliance with Arrange13 ment rules among foreign export credit agencies 

14 that are not a party to the Arrangement,’’; and 

15 (2) in subsection (b)— 

16 (A) in paragraph (2)(A), by striking ‘‘in 

17 consultation with the Secretary and’’; and 

18 (B) in paragraph (5)— 

19 (i) in subparagraph (A), by striking 

20 ‘‘Secretary and the Bank jointly’’ and in21 serting ‘‘Bank’’; 

22 (ii) in subparagraph (B)— 

23 (I) in clause (i)— 


wwhite on PROD1PC61 with BILLS
33 

•HR 5068 RH 

1 (aa) in the matter preceding 

2 subclause (I), by striking ‘‘Sec3 retary and the’’; 

4 (bb) in subclause (I), by in5 serting ‘‘, and to bring into the 

6 Arrangement those countries that 

7 are not a party to the Arrange8 ment’’ before the period; and 

9 (cc) in subclause (III), by 

10 adding at the end the following 

11 ‘‘In cases where information about 

12 a specific offer of foreign tied aid 

13 (or untied aid used to promote ex14 ports as if it were tied aid) is not 

15 available in a timely manner, or 

16 is unavailable because the foreign 

17 export credit agency involved is 

18 not subject to the reporting re19 quirements under the Arrange20 ment, then the Bank may decide 

21 to use the Tied Aid Credit Fund 

22 based on credible evidence of a 

23 history of such offers under simi24 lar circumstances or other forms 

25 of credible evidence.’’; and 


wwhite on PROD1PC61 with BILLS
34 

•HR 5068 RH 

1 (II) in clause (ii), by adding at 

2 the end the following: ‘‘The President 

3 of the United States shall notify the 

4 Congress of such a determination with5 in 30 days, including an explanation 

6 for the determination.’’; 

7 (iii) in subparagraph (C), by striking 

8 ‘‘the Secretary and’’; and 

9 (iv) in subparagraph (E), by striking 

10 ‘‘Secretary and the Bank jointly’’ and in11 serting ‘‘Bank’’. 

12 (d) EXPANSION OF COUNTRIES IN COMPETITION WITH

13 WHOM THE BANK IS TO PROVIDE EXPORT FINANCING.— 

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

15 amended in the 2nd sentence by inserting ‘‘, including 

16 countries the governments of which are not members of the 

17 Arrangement (as defined in section 10(h)(3))’’ before the pe18 riod. 

19 (e) AUTHORITY TO SEEK USEOF MIXED FORMS OF

20 CONCESSIONAL FINANCING.—Section 10 of such Act (12 

21 U.S.C. 635i–3) is amended by adding at the end the fol22 lowing: 

23 ‘‘(i) AUTHORITY TO SEEK USEOF MIXED FORMS OF

24 CONCESSIONAL FINANCING.—For purposes of improving the 

25 effects of Bank financing on development in tied aid eligible 


wwhite on PROD1PC61 with BILLS
35 

•HR 5068 RH 

1 markets (as defined under the Arrangement) and of improv2 ing the competitiveness of the Bank in the markets, the 

3 Bank shall, in consultation with United States government 

4 aid agencies and, as appropriate, multilateral aid institu5 tions, seek to establish, consistent with the Arrangement, a 

6 mixed credit program consisting of longer term financing 

7 and other forms of more flexible repayment terms, financing 

8 of transactions in local currencies, and other forms of 

9 concessional financing that meets the needs of the product 

10 sector and foreign market involved.’’. 

11 (f) INSTRUCTIONS REGARDING NEGOTIATION OF THE

12 OECD ARRANGEMENT.—The Secretary of the Treasury 

13 shall instruct the designee of the Secretary to the negotia14 tion of the Arrangement (as defined in section 10(h)(3) of 

15 the Export-Import Bank Act of 1945) to inform the other 

16 participants in the negotiation that the goals of the United 

17 States include the following: 

18 (1) Seeking compliance with the Arrangement 

19 among countries with significant export credit pro20 grams who are not members of the Arrangement. 

21 (2) Seeking to identify within the World Trade 

22 Organization the extent to which countries that are 

23 not a party to the Arrangement are not in compli24 ance with the terms of the Agreement on Subsidies 

25 and Countervailing Measures referred to in section 


wwhite on PROD1PC61 with BILLS
36 

•HR 5068 RH 

1 101(d)(12) of the Uruguay Round Agreements Act (19 

2 U.S.C. 3511(d)(12)) in regards to export finance, and 

3 seeking appropriate action within the World Trade 

4 Organization if such a country is not in such compli5 ance. 

6 (3) Implementing new disciplines on the use of 

7 untied aid, market windows, and other forms of ex8 port finance that seek to exploit loopholes in the Ar9 rangement for purposes of obtaining a commercial 

10 competitive advantage. 

11 SEC. 11. CONSIDERATION OF ENVIRONMENTAL MATTERS 

12 BY THE ADVISORY COMMITTEE. 

13 Section 3(d) of the Export-Import Bank Act of 1945 

14 (12 U.S.C. 635a(d)) is amended— 

15 (1) in paragraph (1)— 

16 (A) in subparagraph (A), by striking ‘‘15’’ 

17 and inserting ‘‘17’’; and 

18 (B) in subparagraph (B), by inserting ‘‘en19 vironment,’’ before ‘‘production,’’; and 

20 (2) in paragraph (2), by adding at the end the 

21 following: 

22 ‘‘(C) Not less than 2 members appointed to the Advi23 sory Committee shall be representative of the environmental 

24 nongovernmental organization community, except that no 

25 2 of the members shall be from the same environmental orVerDate Aug 31 2005 22:42 Jul 17, 2006 Jkt 049200 PO 00000 Frm 00036 Fmt 6652 Sfmt 6203 E:\BILLS\H5068.RH H5068

wwhite on PROD1PC61 with BILLS
37 

•HR 5068 RH 

1 ganization. Environmental organizations represented shall 

2 have demonstrated experience with environmental issues as3 sociated with the Bank, the Export Credit Group of the Or4 ganization for Economic Cooperation and Development, or 

5 both.’’. 

6 SEC. 12. STUDY OF HOW EXPORT-IMPORT BANK COULD AS7 SIST UNITED STATES EXPORTERS TO MEET 

8 IMPORT NEEDS OF NEW OR IMPOVERISHED 

9 DEMOCRACIES; REPORTS. 

10 (a) STUDY.—The Export-Import Bank of the United 

11 States shall conduct a study designed to assess the needs 

12 of new or impoverished democracies such as Liberia and 

13 Haiti, for imports from the United States, and shall deter14 mine what role the Bank can play a role in helping United 

15 States exporters seize the opportunities presented by the 

16 need for such imports. 

17 (b) REPORTS TO THE CONGRESS.— 

18 (1) INTERIM REPORT.—Within 6 months after 

19 the date of the enactment of this Act, the Bank shall 

20 submit to the Committee on Financial Services of the 

21 House of Representatives and the Committee on 

22 Banking, Housing, and Urban Affairs of the Senate, 

23 in writing, an interim report that contains the results 

24 of the study required by subsection (a). 


wwhite on PROD1PC61 with BILLS
38 

•HR 5068 RH 

1 (2) FINAL REPORT.—Within 12 months after the 

2 date of the enactment of this Act, the Bank shall sub3 mit to the Committee on Financial Services of the 

4 House of Representatives and the Committee on 

5 Banking, Housing, and Urban Affairs of the Senate, 

6 in writing a final report that contains the results of 

7 the study required by subsection (a). 

8 SEC. 13. REVIEW OF ENVIRONMENTAL SCREENING RE9 QUIREMENT. 

10 (a) IN GENERAL.—Within 6 months after the position 

11 of Inspector General of the Export-Import Bank of the 

12 United States is filled, the Inspector General of the Export13 Import Bank of the United States shall submit to the Com14 mittee on Resources and the Committee on Financial Serv15 ices of the House of Representatives, and to the Committee 

16 on Banking, Housing, and Urban Affairs of the Senate a 

17 report on the implications of limiting the requirement to 

18 conduct environmental screenings of projects proposed to be 

19 financed by the Bank to only those involving at least 

20 $10,000,000. 

21 (b) CONTENTS OF REPORT.—The report shall— 

22 (1) determine whether the $10,000,000 limitation 

23 prevents the identification of any project that may 

24 have an adverse effect on the environment; and 


wwhite on PROD1PC61 with BILLS
39 

•HR 5068 RH 

1 (2) propose guidelines for how project applica2 tions may be screened more effectively to determine 

3 whether a project may have such an effect. 

4 SEC. 14. OFFICE OF RENEWABLE ENERGY PROMOTION. 

5 Section 3 of the Export-Import Bank Act of 1945 (12 

6 U.S.C. 635a), as amended by section 4(a)(1) of this Act, 

7 is amended by adding at the end the following: 

8 ‘‘(i) OFFICEOF RENEWABLE ENERGY PROMOTION.— 

9 ‘‘(1) ESTABLISHMENT.—Within 1 year after the 

10 date of the enactment of this subsection, the President 

11 of the Bank shall establish and maintain in the Bank 

12 an office which shall be known as the ‘Office of Re13 newable Energy Promotion’ (in this subsection re14 ferred to as the ‘Office’). 

15 ‘‘(2) FUNCTIONS.—The Office shall be responsible 

16 for proactively identifying new opportunities for re17 newable energy financing and carrying out section 

18 2(b)(1)(K). In carrying out its function of promoting 

19 renewable energy technologies, the Office should, 

20 among other things, consider the recommendations 

21 made by the Renewable Energy Export Advisory 

22 Committee. 

23 ‘‘(3) STAFF.—The President of the Bank shall 

24 ensure that the Office has staff with appropriate ex25 pertise in renewable energy technologies. 


wwhite on PROD1PC61 with BILLS
40 

•HR 5068 RH 

1 ‘‘(4) ANNUAL REPORTS.—The Bank shall submit 

2 annually to the Committee on Resources and the 

3 Committee on Financial Services of the House of Rep4 resentatives, and to the Committee on Banking, Hous5 ing, and Urban Affairs of the Senate, a report that 

6 contains, for the fiscal year covered by the report— 

7 ‘‘(A) a detailed description of the activities 

8 of the Office; and 

9 ‘‘(B) an analysis comparing the level of 

10 credit extended by the Bank for renewable energy 

11 projects with the level of credit so extended for 

12 the preceding fiscal year. 

13 ‘‘(5) RENEWABLE ENERGY TECHNOLOGIES DE14 FINED.—In this subsection, the term ‘renewable en15 ergy technologies’ means technologies for producing 

16 power through the use of solar energy, wind energy, 

17 and energy from biomass, fuel cells, or geothermal 

18 sources, and technologies for producing less than 10 

19 megawatts in hydropower.’’. 

20 SEC. 15. TRANSPARENCY. 

21 (a) IN GENERAL.—Section 2(e) of the Export-Import 

22 Bank Act of 1945 (12 U.S.C. 635(e)), as amended by section 

23 8(b) of this Act, is amended by adding at the end the fol24 lowing: 


wwhite on PROD1PC61 with BILLS
41 

•HR 5068 RH 

1 ‘‘(6) PROCEDURES TO REDUCE ADVERSE EF2 FECTS OF LOANS AND GUARANTEES ON INDUSTRIES

3 AND EMPLOYMENT IN UNITED STATES.— 

4 ‘‘(A) CONSIDERATION OF ECONOMIC EF5 FECTS OF PROPOSED TRANSACTIONS.—If, in 

6 making a determination under this paragraph 

7 with respect to a loan or guarantee, the Bank 

8 conducts a detailed economic impact analysis or 

9 similar study, the analysis or study, as the case 

10 may be, shall include consideration of— 

11 ‘‘(i) the factors set forth in subpara12 graphs (A) and (B) of paragraph (1); and 

13 ‘‘(ii) the views of the public and inter14 ested parties. 

15 ‘‘(B) NOTICE AND COMMENT REQUIRE16 MENTS.— 

17 ‘‘(i) IN GENERAL.—If, in making a de18 termination under this subsection with re19 spect to a loan or guarantee, the Bank in20 tends to conduct a detailed economic impact 

21 analysis or similar study, the Bank shall 

22 cause to be published in the Federal Reg23 ister a notice of the intent, and provide a 

24 period of not less than 14 days (which, on 

25 request by any affected party, shall be exVerDate Aug 31 2005 22:42 Jul 17, 2006 Jkt 049200 PO 00000 Frm 00041 Fmt 6652 Sfmt 6203 E:\BILLS\H5068.RH H5068

wwhite on PROD1PC61 with BILLS
42 

•HR 5068 RH 

1 tended to a period of not more than 30 

2 days) for the submission to the Bank of 

3 comments on the economic effects of the pro4 vision of the loan or guarantee. In addition, 

5 the Bank shall seek comments on the effects 

6 from the Department of Commerce, the 

7 International Trade Commission, the Office 

8 of Management and Budget, the Committee 

9 on Banking, Housing, and Urban Affairs of 

10 the Senate, and the Committee on Financial 

11 Services of the House of Representatives. 

12 ‘‘(ii) CONTENT OF NOTICE.—The notice 

13 shall include appropriate, nonproprietary 

14 information about— 

15 ‘‘(I) the name of the applicant; 

16 ‘‘(II) the country to which the 

17 goods involved in the transaction will 

18 be shipped; 

19 ‘‘(III) the type of goods being ex20 ported; 

21 ‘‘(IV) the amount of the loan or 

22 guarantee involved; 

23 ‘‘(V) the goods that would be pro24 duced as a result of the provision of the 

25 loan or guarantee; 


wwhite on PROD1PC61 with BILLS
43 

•HR 5068 RH 

1 ‘‘(VI) the amount of increased 

2 production that will result from the 

3 transaction; 

4 ‘‘(VII) the potential sales market 

5 for the resulting goods; 

6 ‘‘(VIII) the value of the trans7 action; and 

8 ‘‘(IX) any other relevant informa9 tion. 

10 ‘‘(iii) PROCEDURE REGARDING MATE11 RIALLY CHANGED APPLICATIONS.— 

12 ‘‘(I) IN GENERAL.—If a material 

13 change is made to an application for a 

14 loan or guarantee from the Bank after 

15 a notice with respect to the intent de16 scribed in clause (i) is published under 

17 this subparagraph, the Bank shall 

18 cause to be published in the Federal 

19 Register a revised notice of the intent, 

20 and shall provide for a comment pe21 riod, as provided in clauses (i) and 

22 (ii). 

23 ‘‘(II) MATERIAL CHANGE DE24 FINED.—In subclause (I), the term 


wwhite on PROD1PC61 with BILLS
44 

•HR 5068 RH 

1 ‘material change’, with respect to an 

2 application, includes— 

3 ‘‘(aa) a change of at least 25 

4 percent in the amount of a loan 

5 or guarantee requested in the ap6 plication; and 

7 ‘‘(bb) a change in the prin8 cipal product to be produced as a 

9 result of any transaction that 

10 would be facilitated by the provi11 sion of the loan or guarantee. 

12 ‘‘(C) REQUIREMENT TO CONSIDER AND AD13 DRESS VIEWS OF ADVERSELY AFFECTED PER14 SONS.—Before taking final action on an applica15 tion for a loan or guarantee from the Bank to 

16 which this subsection applies, the Bank shall 

17 consider and address in writing the views of any 

18 person who may be substantially adversely af19 fected by the provision of the loan or guarantee. 

20 ‘‘(D) PUBLICATION OF CONCLUSIONS.— 

21 Within 30 days after a party affected by a final 

22 decision of the Board of Directors with respect to 

23 a loan or guarantee makes a written request 

24 therefor, the Bank shall provide to the affected 

25 party a non-confidential summary of the facts 


wwhite on PROD1PC61 with BILLS
45 

•HR 5068 RH 

1 found and conclusions reached in any detailed 

2 economic impact analysis or similar study con3 ducted pursuant to subparagraph (B) with re4 spect to the loan or guarantee, that were sub5 mitted to the Board of Directors. 

6 ‘‘(E) RULE OF INTERPRETATION.—This 

7 paragraph shall not be construed to make sub8 chapter II of chapter 5 of title 5, United States 

9 Code, applicable to the Bank. 

10 ‘‘(F) REGULATIONS.—The Bank shall im11 plement such regulations and procedures as may 

12 be appropriate to carry out this paragraph.’’. 

13 (b) CONFORMING AMENDMENT.—Section 2(e)(2)(C) of 

14 such Act (12 U.S.C. 635(e)(2)(C)) is amended by inserting 

15 ‘‘of not less than 14 days (which, on request of any affected 

16 party, shall be extended to a period of not more than 30 

17 days)’’ after ‘‘comment period’’. 

18 SEC. 16. ANTI-CIRCUMVENTION. 

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

20 (12 U.S.C. 635(e)), as amended by sections 8(b) and 15(a) 

21 of this Act, is amended— 

22 (1) in paragraph (1), by adding after and below 

23 the end the following: 

24 ‘‘In making the determination under subparagraph 

25 (B), the Bank shall determine whether the facility 


wwhite on PROD1PC61 with BILLS
46 

•HR 5068 RH 

1 that would benefit from the extension of a credit or 

2 guarantee is reasonably likely to produce products in 

3 addition to or other than the product specified in the 

4 application and whether the production of the prod5 ucts may cause substantial injury to United States 

6 producers of the same, or a similar or competing, 

7 commodity.’’; 

8 (2) in paragraph (2), by adding at the end the 

9 following: 

10 ‘‘(E) ANTI-CIRCUMVENTION.—The Bank 

11 shall not provide a loan or guarantee if the Bank 

12 determines that providing the loan or guarantee 

13 will facilitate circumvention of a trade law order 

14 or determination referred to in subparagraph 

15 (A).’’; and 

16 (3) by adding at the end the following: 

17 ‘‘(7) FINANCIAL THRESHOLD DETERMINA18 TIONS.—For purposes of determining whether a pro19 posed transaction exceeds a financial threshold under 

20 this subsection or under the procedures or rules of the 

21 Bank, the Bank shall aggregate the dollar amount of 

22 the proposed transaction and the dollar amounts of 

23 all loans and guarantees, approved by the Bank in 

24 the preceding 24-month period, that involved the same 


wwhite on PROD1PC61 with BILLS
47 

•HR 5068 RH 

1 foreign entity and substantially the same product to 

2 be produced.’’. 

3 SEC. 17. PERFORMANCE STANDARDS APPLICABLE TO BANK 

4 ASSISTANCE FOR SMALL BUSINESSES, ESPE5 CIALLY THOSE OWNED BY SOCIAL AND ECO6 NOMICALLY DISADVANTAGED INDIVIDUALS 

7 AND THOSE OWNED BY WOMEN. 

8 (a) DEVELOPMENT OF PERFORMANCE STANDARDS.— 

9 Within 120 days after the date of the enactment of this Act, 

10 the Comptroller General of the United States shall develop 

11 and transmit to the Board of Directors of the Export-Im12 port Bank of the United States— 

13 (1) a set of standards which may be used to de14 termine the extent to which the Bank has carried out 

15 successfully subparagraphs (E) and (I) of section 

16 2(b)(1) of the Export-Import Bank Act of 1945, and 

17 the functions described in subsections (f)(1)(A), 

18 (f)(4)(A), and (h)(2) of section 3 of such Act; and 

19 (2) a set of rules for measuring the performance 

20 of the Bank against the standards. 

21 (b) REPORT ON PERFORMANCE.—Section 8 of the Ex22 port-Import Bank Act of 1945 (12 U.S.C. 635g), as amend23 ed by sections 4, 5, and 10(b) of this Act, is amended by 

24 adding at the end the following: 


wwhite on PROD1PC61 with BILLS
48 

•HR 5068 RH 

1 ‘‘(j) REPORT ON ACHIEVEMENT OF PERFORMANCE

2 STANDARDS APPLICABLETO SMALL BUSINESS CONCERNS, 

3 SOCIALLY AND ECONOMICALLY DISADVANTAGED SMALL

4 BUSINESS CONERNS, AND SMALL BUSINESS CONCERNS

5 OWNED BY WOMEN.—The Bank shall submit annually to 

6 the Congress, and include in a separate section of the an7 nual report to the Congress under subsection (a) of this sec8 tion, a report on the extent to which the Bank has carried 

9 out successfully subparagraphs (E) and (I) of section 

10 2(b)(1), and the functions described in subsections (f)(1)(A), 

11 (f)(4)(A), and (h)(2) of section 3, of this Act, using the per12 formance standards and measuring rules developed pursu13 ant to section 12(a) of the Export-Import Bank Reauthor14 ization Act of 2006. ’’. 

15 SEC. 18. PROHIBITION ON ASSISTANCE TO DEVELOP OR 

16 PROMOTE ANY RAIL CONNECTIONS OR RAIL17 WAY-RELATED CONNECTIONS THAT TRA18 VERSE OR CONNECT BAKU, AZERBAIJAN, 

19 TBILISI, GEORGIA, AND KARS, TURKEY, AND 

20 THAT SPECIFICALLY EXCLUDE CITIES IN AR21 MENIA. 

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

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

24 following: 


wwhite on PROD1PC61 with BILLS
49 

•HR 5068 RH

1 ‘‘(13) The Bank shall not guarantee, insure, extend 

2 credit, or participate in an extension of credit in connection 

3 with the development or promotion of any rail connections 

4 or railway-related connections that do not traverse or con5 nect with Armenia, and do traverse or connect Baku, Azer6 baijan, Tbilisi, Georgia, and Kars, Turkey.’’. 

7 SEC. 19. TECHNICAL CORRECTIONS. 

8 Section 2(b)(2)(B)(ii) of the Export-Import Bank Act 

9 of 1945 (12 U.S.C. 635(b)(2)(B)(ii)) is amended by striking 

10 subclauses (I), (III), (VII), (VIII), and (IX), and redesig11 nating subclauses (II), (IV), (V), and (VI) as subclauses (I) 

12 through (IV), respectively. 

13 SEC. 20. EFFECTIVE DATE. 

14 The amendments made by this Act shall take effect on 

15 October 1, 2006. 


wwhite on PROD1PC61 with BILLS
Union Calendar No. 322 

109TH CONGRESS 

2D SESSION H. R. 5068 

[Report No. 109

–566] 

A BILL 

To reauthorize the operations of the Export-Import 

Bank, and for other purposes. Bank, and to reform certain operations of the 

JULY 17, 2006 

Reported with an amendment, committed to the Comand ordered to be printed mittee of the Whole House on the State of the Union, 


wwhite on PROD1PC61 with BILLS