IIB 

109TH CONGRESS 

2D SESSION H. R. 5068 

IN THE SENATE OF THE UNITED STATES 

JULY 26, 2006 

Received; read twice and referred to the Committee on Banking, Housing, and 

Urban Affairs 

AN ACT 

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, 


jcorcoran on PROD1PC62 with BILLS
2 

HR 5068 RFS 

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 

8 (12 U.S.C. 635f) is amended by striking ‘‘2006’’ and in9 serting ‘‘2011’’. 

10 SEC. 4. INCREASING EXPORTS BY SMALL BUSINESSES. 

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


jcorcoran on PROD1PC62 with BILLS
3 

HR 5068 RFS 

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, 

11 and transaction advocacy for small business 

12 concerns; 

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

14 business concerns of the opportunities and ben15 efits for small business concerns in the financ16 ing products offered by the Bank, with par17 ticular emphasis on conducting outreach, better 

18 tailoring products to small business needs and 

19 increasing loans to small business concerns em20 ploying fewer than 100 employees; and 

21 ‘‘(C) maintain liaison with the Small Busi22 ness Administration and other departments and 

23 agencies in matters affecting small business 

24 concerns. 


jcorcoran on PROD1PC62 with BILLS
4 

HR 5068 RFS 

1 ‘‘(2) MANAGEMENT.—The division shall be 

2 managed by a Bank officer designated by the Board 

3 of Directors— 

4 ‘‘(A) who shall have substantial recent ex5 perience in financing exports by small business 

6 concerns; 

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

8 ensure that the division carries out the func9 tions of the division, and to be the chairman of 

10 the Small Business Committee established 

11 under subsection (h); 

12 ‘‘(C) who shall advise the Board, particu13 larly the Director appointed under section 

14 3(c)(8)(B) to represent the interests of small 

15 business, on matters of interest to, and concern 

16 for, small business; 

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

18 vice president of the Bank; and 

19 ‘‘(E) who shall report directly to the Presi20 dent of the Bank. 

21 ‘‘(3) STAFF.— 

22 ‘‘(A) FUNCTIONS.—The President of the 

23 Bank shall designate staff in each operating di24 vision of the Bank, as appropriate, to specialize 

25 in transactions in support of exports by small 


jcorcoran on PROD1PC62 with BILLS
5 

HR 5068 RFS 

1 business concerns, including receipt and all as2 pects of processing (including approval or dis3 approval, or staff recommendation of approval 

4 or disapproval, as appropriate) applications for 

5 loans, guarantees, and insurance. The staff so 

6 designated may approve applications for work7 ing capital loans and guarantees, and for insur8 ance, in support of exports which have a value 

9 of less than $10,000,000, subject to the policies 

10 and procedures established by the Board of Di11 rectors other than those which provide for a 

12 lower limit on the dollar amount of exports with 

13 respect to which such an approval may be 

14 granted. 

15 ‘‘(B) COORDINATION.—The staff des16 ignated under subparagraph (A) of this para17 graph shall carry out their duties in their re18 spective operating divisions, under the coordina19 tion of the officer designated under paragraph 

20 (2) of this subsection. 

21 ‘‘(4) RESOURCES.— 

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

23 Bank shall ensure that the division has suffi24 cient qualified staff and budgetary resources to 

25 carry out subparagraphs (E) and (I) of section 


jcorcoran on PROD1PC62 with BILLS
6 

HR 5068 RFS 

1 2(b)(1), as determined annually by the Presi2 dent of the Bank, after consultation with— 

3 ‘‘(i) the officer referred to in para4 graph (2) of this subsection; 

5 ‘‘(ii) the Director appointed under 

6 subsection (c)(8)(B) of this section; 

7 ‘‘(iii) the Committee on Financial 

8 Services of the House of Representatives; 

9 and 

10 ‘‘(iv) the Committee on Banking, 

11 Housing, and Urban Affairs of the Senate. 

12 ‘‘(B) USES.— 

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

14 the Bank shall ensure that the staff and 

15 budgetary resources of the division are de16 voted solely to carrying out the functions 

17 of the division. 

18 ‘‘(ii) CERTAIN STAFF DUTIES.—The 

19 division shall include staff dedicated exclu20 sively to providing outreach, training, and 

21 advice to, seeking feedback from, and ad22 vocating on behalf of small business con23 cerns regarding Bank financing opportuni24 ties, products, and programs. 


jcorcoran on PROD1PC62 with BILLS
7 

HR 5068 RFS 

1 ‘‘(C) RULE OF INTERPRETATION.—Noth2 ing in this Act shall be construed to prevent the 

3 delegation to the division of any authority nec4 essary to carry out subparagraphs (E) and (I) 

5 of section 2(b)(1). 

6 ‘‘(5) SMALL BUSINESS CONCERN DEFINED.—In 

7 this subsection and subsections (g), (h), and (i), the 

8 term ‘small business concern’ shall have the meaning 

9 established under section 3(a) of the Small Business 

10 Act. 

11 ‘‘(g) HANDLING OF APPLICATIONS OF, AND PROC12 ESSING OF TRANSACTIONS INVOLVING SMALL BUSINESS

13 CONCERNS.—Consistent with the requirement that the 

14 Bank obtain a reasonable assurance of repayment for each 

15 transaction the Bank supports, the Bank shall establish 

16 and maintain transaction standards tailored to the special 

17 circumstances of small business concerns and shall use the 

18 standards in evaluating applications by the concerns for 

19 Bank financing. The Bank shall ensure that each appro20 priate division of the Bank has staff dedicated to the proc21 essing of transactions involving small business concerns. 

22 ‘‘(h) SMALL BUSINESS COMMITTEE.— 

23 ‘‘(1) ESTABLISHMENT.—The Bank shall estab24 lish and maintain a committee to be known as the 

25 ‘Small Business Committee’. 


jcorcoran on PROD1PC62 with BILLS
8 

HR 5068 RFS 

1 ‘‘(2) PRINCIPAL PURPOSE.—The principal pur2 pose of the Small Business Committee shall be to 

3 focus on small business concerns and coordinate the 

4 efforts of the Bank with respect to small business 

5 concerns, including the timely processing of trans6 actions in support of exports by small business con7 cerns and the evolution of new or improved Bank 

8 products to better serve small business needs. 

9 ‘‘(3) COMPOSITION.— 

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

11 Small Business Committee shall be the Senior 

12 Vice President of the Bank who is responsible 

13 for management of the Small Business Division 

14 of the Bank. 

15 ‘‘(B) OTHER MEMBERS.—The other mem16 bers of the committee shall consist of the staff 

17 designated under subsection (f)(3)(A), and the 

18 President of the Bank shall ensure that the 

19 committee is comprised of officers and employ20 ees throughout the Bank that have responsi21 bility for outreach and processing transactions 

22 involving small business concerns. 

23 ‘‘(4) REPORTS.—The Small Business Com24 mittee shall report to the President of the Bank. 


jcorcoran on PROD1PC62 with BILLS
9 

HR 5068 RFS 

1 ‘‘(i) STAFF EVALUATIONS.—The evaluation of staff 

2 designated by the President of the Bank under subsection 

3 (f)(3)(A), including annual reviews of performance of du4 ties related to transactions in support of exports by small 

5 business concerns, and any resulting recommendations for 

6 salary adjustments, promotions, and other personnel ac7 tions, shall be conducted jointly by the managers of the 

8 relevant operating division and the chairman of the Small 

9 Business Committee established under subsection (h), 

10 under the direction of the Director appointed under sub11 section (c)(8)(B).’’. 

12 (2) COORDINATION IN FINANCING OF SMALL

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

14 such Act (12 U.S.C. 635(b)(1)(E)(vii)(I)) is amend15 ed by adding at the end the following: ‘‘The Bank 

16 shall work in coordination with the entities described 

17 in the preceding sentence to streamline the proc18 essing of applications for Bank financing from small 

19 business concerns and to provide training and advice 

20 as required on the needs and benefits of export fi21 nancing for small business concerns.’’ 

22 (b) REPORT ON FEES CHARGED TO, AND TRANS23 ACTIONS COSTS INCURRED BY, SMALL AND MEDIUM

24 BUSINESS FOR BANK SERVICES.—Section 8 of such Act 


jcorcoran on PROD1PC62 with BILLS
10 

HR 5068 RFS 

1 (12 U.S.C. 635g) is amended by adding at the end the 

2 following: 

3 ‘‘(f) REPORT ON FEES CHARGED TO, AND TRANS4 ACTIONS COSTS INCURRED BY, SMALL AND MEDIUM

5 BUSINESS FOR BANK SERVICES.—The Bank shall submit 

6 to the Congress annually, and include in a separate section 

7 of the annual report to the Congress under subsection (a) 

8 of this section, a report on— 

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

10 the interest and fees charged by the Bank to export11 ers (including a description of fees and interest, if 

12 any, charged to small business concerns), buyers, 

13 and other applicants in connection with each financ14 ing program of the Bank, and the highest, lowest, 

15 and average fees charged by the Bank for short 

16 term insurance transactions; 

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

18 Bank to achieve the objectives of the Bank relating 

19 to small business; and 

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

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

22 (c) REPORT ON FINANCING DIRECTED TOWARD

23 SMALL BUSINESS.—Section 8 of such Act (12 U.S.C. 

24 635g), as amended by subsection (b) of this section, is 

25 amended by adding at the end the following: 


jcorcoran on PROD1PC62 with BILLS
11 

HR 5068 RFS 

1 ‘‘(g) REPORT ON FINANCING DIRECTED TOWARD

2 SMALL BUSINESS.—The Bank shall submit annually to 

3 the Committees on Financial Services and on Small Busi4 ness of the House of Representatives— 

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

6 has been able to use the authorities referred to in 

7 section 2(b)(1)(E)(iv), and, to the extent the Bank 

8 has been unable to fully do so, a report on the obsta9 cles to doing so and on what the Bank is doing to 

10 overcome the obstacles; 

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

12 has been made available to small business concerns 

13 to enable them to participate in exports by major 

14 contractor, including through access to the supply 

15 chains of the contractors through direct or indirect 

16 funding; and 

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

18 in the upcoming year, the Bank will take specific 

19 measures to achieve the small business objectives of 

20 the Bank, including expanded outreach, product im21 provements, and related actions.’’. 

22 (d) CONFORMING AMENDMENTS.— 

23 (1) IN GENERAL.— 


jcorcoran on PROD1PC62 with BILLS
12 

HR 5068 RFS 

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

2 U.S.C. 635(b)(1)(E)), as amended by sub3 section (a)(2) of this section, is amended— 

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

5 fair consideration to making loans and pro6 viding’’ and inserting ‘‘make loans and 

7 provide’’; 

8 (ii) by striking clause (iii); 

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

10 (ii) and (iii) of this subparagraph’’ and in11 serting ‘‘clause (ii)’’; 

12 (iv) in clause (vi)— 

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

14 subparagraph’’ and insert ‘‘clause 

15 (iv)’’; and 

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

17 inserting ‘‘clause’’; 

18 (v) in clause (vii)— 

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

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

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

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

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


jcorcoran on PROD1PC62 with BILLS
13 

HR 5068 RFS 

1 (vi) by redesignating clauses (iv) 

2 through (x) as clauses (iii) through (ix), 

3 respectively. 

4 (B) Section 8 of such Act (12 U.S.C. 

5 635g) is amended— 

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

7 ‘‘2(b)(1)(E)(vii)’’ and inserting 

8 ‘‘2(b)(1)(E)(vi)’’; and 

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

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

11 (2) UNIFORM MEANING OF SMALL BUSINESS.— 

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

13 635(b)(1)(E)), as amended by subsection (a)(2) of 

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

15 amended— 

16 (A) in clause (i)(II), by striking ‘‘busi17 nesses’’ and inserting ‘‘business concerns’’; 

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

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

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

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

22 appears and inserting ‘‘exports by small busi23 ness concerns’’; and 

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


jcorcoran on PROD1PC62 with BILLS
14 

HR 5068 RFS 

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

2 concern’ shall have the meaning established under section 

3 3(a) of the Small Business Act.’’. 

4 (e) ENHANCE DELEGATED LOAN AUTHORITY FOR

5 MEDIUM TERM TRANSACTIONS.— 

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

7 the United States shall seek to expand the exercise 

8 of authority under section 2(b)(1)(E)(vi) of the Ex9 port-Import Bank Act of 1945 (as so redesignated 

10 by subsection (d)(1)(A)(vi) of this section) with re11 spect to medium term transactions for small busi12 ness concerns (as defined under section 3(a) of the 

13 Small Business Act). 

14 (2) CONFORMING AMENDMENT.—Section 

15 2(b)(1)(E)(vi)(III) of the Export-Import Bank Act 

16 of 1945 (12 U.S.C. 635(b)(1)(E)(vi)(III)), as so re17 designated by subsection (d)(1)(A)(vi) of this sec18 tion, is amended by striking ‘‘To the maximum ex19 tent practicable, the’’ and inserting ‘‘The’’. 

20 (3) DEADLINE.—Within 180 days after the 

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

22 Bank of the United States shall make available lines 

23 of credit and guarantees to carry out section 

24 2(b)(1)(E)(vi) of the Export-Import Bank Act of 

25 1945 (as so redesignated by subsection (d)(1)(A)(vi) 


jcorcoran on PROD1PC62 with BILLS
15 

HR 5068 RFS 

1 of this section), pursuant to policies and procedures 

2 established by the Board of Directors of the Export3 Import Bank of the United States. 

4 SEC. 5. OFFICE OF FINANCING FOR SOCIALLY AND ECO5 NOMICALLY DISADVANTAGED SMALL BUSI6 NESS CONCERNS AND SMALL BUSINESS CON7 CERNS OWNED BY WOMEN. 

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

9 Bank Act of 1945 (12 U.S.C. 635a(f)), as added by sec10 tion 4(a) of this Act, is amended by redesignating para11 graph (5) as paragraph (6) and by inserting after para12 graph (4) the following: 

13 ‘‘(5) OFFICE OF FINANCING FOR SOCIALLY AND

14 ECONOMICALLY DISADVANTAGED SMALL BUSINESS

15 CONCERNS AND SMALL BUSINESS CONCERNS OWNED

16 BY WOMEN.— 

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

18 the Bank shall establish in the division an office 

19 whose sole functions shall be to continue and 

20 enhance the outreach activities of the Bank 

21 with respect to, and increase the total amount 

22 of loans, guarantees, and insurance provided by 

23 the Bank to support exports by, socially and 

24 economically disadvantaged small business con25 cerns (as defined in section 8(a)(4) of the Small 


jcorcoran on PROD1PC62 with BILLS
16 

HR 5068 RFS 

1 Business Act) and small business concerns 

2 owned by women. 

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

4 managed by a Bank officer of appropriate rank 

5 who shall report to the Bank officer designated 

6 under section 3(f)(2). 

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

8 practicable, the President of the Bank shall en9 sure that qualified minority and women appli10 cants are considered when filling any position in 

11 the office.’’. 

12 (b) FINANCING DIRECTED TOWARD SMALL BUSI13 NESSES OWNED BY MINORITIES OR WOMEN.—Section 

14 2(b)(1)(E)(iv) of such Act (12 U.S.C. 635(b)(1)(E)(iv)), 

15 as so redesignated by section 4(d)(1)(A)(vi) of this Act, 

16 is amended by adding at the end the following: ‘‘From 

17 the amount made available under the preceding sentence, 

18 it shall be a goal of the Bank to make available not less 

19 than 15 percent of the amount to finance exports directly 

20 by small business concerns referred to in section 

21 3(f)(5)(A).’’. 

22 (c) REPORT ON FINANCING DIRECTED TOWARD

23 SMALL BUSINESSES OWNED BY MINORITIES OR

24 WOMEN.—Section 8(g)(1) of such Act (12 U.S.C. 

25 635g(g)(1)), as added by section 4(c) of this Act, is 


jcorcoran on PROD1PC62 with BILLS
17 

HR 5068 RFS 

1 amended by inserting ‘‘and to finance exports by small 

2 business concerns referred to in section 3(f)(5)(A),’’ before 

3 ‘‘and, to the extent’’. 

4 (d) REPORT ON BANK EFFORTS TO SUPPORT EX5 PORTS BY SOCIALLY AND ECONOMICALLY DISADVAN6 TAGED SMALL BUSINESS CONCERNS AND SMALL BUSI7 NESS CONCERNS OWNED BY WOMEN.—Section 8 of such 

8 Act (12 U.S.C. 635g), as amended by section 4 of this 

9 Act, is amended by adding at the end the following: 

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

11 SMALL- AND MEDIUM-SIZED BUSINESSES OWNED BY

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

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

14 this Act shall prepare and submit to the Committee on 

15 Financial Services of the House of Representatives and 

16 the Committee on Banking, Housing, and Urban Affairs 

17 of the Senate, and the Bank shall include in a separate 

18 section of the annual report submitted pursuant to sub19 section (a) of this section, a written report that describes 

20 the progress made by the Bank in supporting exports by 

21 socially and economically disadvantaged small business 

22 concerns (as defined in section 8(a)(4) of the Small Busi23 ness Act) and small business concerns owned by women.’’. 


jcorcoran on PROD1PC62 with BILLS
18 

HR 5068 RFS 

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 

4 (12 U.S.C. 635(b)(9)(B)(iii)) is amended by striking 

5 ‘‘2006’’ and inserting ‘‘2011’’. 

6 (b) IMPROVED LIAISON WITH AFRICAN REGIONAL

7 FINANCIAL INSTITUTIONS.— 

8 (1) MASTER GUARANTEE AGREEMENTS.—With9 in 1 year after the date of the enactment of this Act, 

10 the Export-Import Bank of the United States shall 

11 seek to ensure that there is in effect a contract be12 tween each approved lender in Africa and the Bank, 

13 which sets forth the Bank’s guarantee undertakings 

14 and related obligations between the Bank and the 

15 lender. 

16 (2) REPORT ON WORKING RELATIONSHIPS

17 WITH THE AFRICAN DEVELOPMENT BANK, THE AF18 RICA EXPORT-IMPORT BANK, AND OTHER INSTITU19 TIONS.—Section 2(b)(9) of such Act (12 U.S.C. 

20 635(b)(9)) is amended by adding at the end the fol21 lowing: 

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

23 the Congress submitted under section 8(a) a separate sec24 tion that contains a report on the efforts of the Bank to 

25 improve working relationships with the African Develop26 ment Bank, the Africa Export-Import Bank, and other inVerDate Aug 31 2005 01:10 Jul 27, 2006 Jkt 049200 PO 00000 Frm 00018 Fmt 6652 Sfmt 6201 E:\BILLS\H5068.RFS H5068

jcorcoran on PROD1PC62 with BILLS
19 

HR 5068 RFS 

1 stitutions in the region that are relevant to the purposes 

2 of subparagraph (A) of this paragraph.’’. 

3 (c) CLOSER COOPERATION WITH OTHER UNITED

4 STATES AGENCIES WORKING IN AFRICA.—Section 

5 2(b)(9) of such Act (12 U.S.C. 635(b)(9)) is further 

6 amended by adding at the end the following: 

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

8 United States Foreign Commercial Service and with the 

9 overall strategy of the United States Government, for eco10 nomic engagement with Africa pursuant to the African 

11 Growth and Opportunity Act. 

12 ‘‘(E) The Bank shall develop initiatives to train For13 eign Service and Commercial Service officers serving at 

14 United State embassies in Africa, in the use of Bank pro15 grams, so the officers can encourage African buyers to 

16 take part in transactions supported by the Bank.’’. 

17 (d) ADJUSTMENTS TO PROCEDURES TO PROMOTE

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

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

20 adding at the end the following: 

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

22 obtain a reasonable assurance of repayment in connection 

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

24 in consultation with the entities described in subparagraph 

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


jcorcoran on PROD1PC62 with BILLS
20 

HR 5068 RFS 

1 of the Bank for the purpose of qualifying a greater num2 ber of appropriate African entities for participation in pro3 grams of the Bank.’’. 

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

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

6 adding at the end the following: 

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

8 the Bank is capable of financing certain African programs 

9 in local currencies.’’. 

10 SEC. 7. EXTENSION OF AUTHORITY. 

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

12 note) is amended by striking ‘‘2001’’ and inserting 

13 ‘‘2011’’. 

14 SEC. 8. TRANSPARENCY INITIATIVES. 

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

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

17 amended by adding at the end the following: 

18 ‘‘(9) The Board of Directors shall meet not less fre19 quently than biweekly. 

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

21 of Directors, the Chairman shall place an item on the 

22 agenda for consideration by the Board. Within 30 days 

23 after the date such a request is made, the Chairman shall 

24 hold a meeting of the Board at which the item will be 

25 considered.’’. 


jcorcoran on PROD1PC62 with BILLS
21 

HR 5068 RFS 

1 (b) VOTING REQUIRED IN CASES INVOLVING ECO2 NOMIC IMPACT ANALYSIS.—Section 2(e) of such Act (12 

3 U.S.C. 635(e)) is amended by adding at the end the fol4 lowing: 

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

6 after completing a review, pursuant to this sub7 section, of a proposed loan or guarantee (including 

8 any applicable comment period), the Board of Direc9 tors shall hold a vote to determine whether or not 

10 to proceed with the proposed loan or guarantee, un11 less the applicant has withdrawn the application for 

12 the loan or guarantee.’’. 

13 (c) PROCESS FOR NOTIFYING APPLICANTS OF APPLI14 CATION STATUS.—Section 2 of such Act (12 U.S.C. 635) 

15 is amended by adding at the end the following: 

16 ‘‘(g) PROCESS FOR NOTIFYING APPLICANTS OF AP17 PLICATION STATUS.—The Bank shall establish and ad18 here to a clearly defined process for— 

19 ‘‘(1) acknowledging receipt of applications; 

20 ‘‘(2) informing applicants that their applica21 tions are complete or, if incomplete or containing a 

22 minor defect, of the additional material or changes 

23 that, if supplied or made, would make the applica24 tion eligible for consideration; and 


jcorcoran on PROD1PC62 with BILLS
22 

HR 5068 RFS 

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

2 of their applications, including a clear and timely no3 tification of approval or disapproval, and, in the case 

4 of disapproval, the reason for disapproval, as appro5 priate.’’. 

6 (d) RESPONSE TO APPLICATION FOR FINANCING; IM7 PLEMENTATION OF ONLINE LOAN REQUEST AND TRACK8 ING PROCESS.—Section 2 of such Act (12 U.S.C. 635) 

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

10 ‘‘(h) RESPONSE TO APPLICATION FOR FINANCING; 

11 IMPLEMENTATION OF ONLINE LOAN REQUEST AND

12 TRACKING PROCESS.—Within 5 days after receipt of an 

13 application for financing from the Bank, the Bank shall 

14 notify the applicant that the application has been received, 

15 and shall include in the notice a request for such addi16 tional information as may be necessary to make the appli17 cation complete, the name of a Bank employee who may 

18 be contacted with questions relating to the application, 

19 and a unique identification number which may be used 

20 to review the status of the application at a website estab21 lished as provided in the next sentence. Not later than 

22 September 1, 2006, the Bank shall use the authorities 

23 provided by subparagraphs (E)(ix) and (J) of subsection 

24 (b)(1) of this section to establish, and thereafter to main25 tain, a website through which any Bank product may be 


jcorcoran on PROD1PC62 with BILLS
23 

HR 5068 RFS 

1 applied for, information may be obtained about the status 

2 of any such application, about the small business division 

3 of the Bank, or about incentives, preferences, targets, and 

4 goals relating to small business concerns referred to in sec5 tion 3(f)(5)(A) or small business concerns exporting to Af6 rica.’’. 

7 (e) REPORTS RELATING TO TECHNOLOGY TO ASSIST

8 SMALL BUSINESSES.— 

9 (1) REPORTS BY THE BANK.— 

10 (A) INITIAL REPORT.—Within 60 days 

11 after the date of the enactment of this Act, the 

12 President of the Export-Import Bank of the 

13 United States shall submit to the Committee on 

14 Financial Services of the House of Representa15 tives and the Committee on Banking, Housing, 

16 and Urban Affairs of the Senate a report on— 

17 (i) the efforts made by the Bank to 

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

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

20 Act of 1945, including the total amount 

21 expended by the Bank to do so; and 

22 (ii) if the Bank has been unable to 

23 comply with such subparagraphs— 

24 (I) an analysis of the reasons 

25 therefor; 


jcorcoran on PROD1PC62 with BILLS
24 

HR 5068 RFS 

1 (II) what the Bank is doing to 

2 achieve, and the date by which the 

3 Banks expects to have achieved, such 

4 compliance; and 

5 (III) the name of each Bank offi6 cer who is responsible for ensuring 

7 that the Bank achieves, and the name 

8 of the person to whom the Bank offi9 cer reports on progress in achieving, 

10 such compliance. 

11 (B) SUBSEQUENT ANNUAL REPORTS.— 

12 Section 8(c) of the Export-Import Bank Act of 

13 1945 (12 U.S.C. 635g(c)), as amended by sec14 tion 4(d)(1)(B)(ii) of this Act, is amended to 

15 read as follows: 

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

17 The Bank shall include in its annual report to the Con18 gress under subsection (a) of this section for each of fiscal 

19 years 2007 through 2011 a separate section that con20 tains— 

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

22 to carry out subparagraphs (E)(ix) and (J) of sec23 tion 2(b)(1) of this Act, the total amount expended 

24 in the fiscal year to do so, and how the efforts are 


jcorcoran on PROD1PC62 with BILLS
25 

HR 5068 RFS 

1 assisting small business concerns (as defined under 

2 section 3(a) of the Small Business Act); and 

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

4 fully with such subparagraphs— 

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

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

7 doing to achieve, and the date by which the 

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

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

11 responsible for ensuring that the Bank achieves, 

12 and the name of the person to whom the Bank 

13 officer reports on progress in achieving, such 

14 full compliance.’’. 

15 (2) REPORT BY THE INSPECTOR GENERAL OF

16 THE BANK.—Within 120 days after the date of the 

17 enactment of this Act or, if later, within 30 days 

18 after the date the vacancy in the position of the In19 spector General of the Export-Import Bank of the 

20 United States is filled, the Inspector General of the 

21 Export-Import Bank of the United States shall sub22 mit to the Committee on Financial Services of the 

23 House of Representatives and the Committee on 

24 Banking, Housing, and Urban Affairs of the Sen25 ate— 


jcorcoran on PROD1PC62 with BILLS
26 

HR 5068 RFS 

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

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

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

4 Bank Act of 1945, the total amount expended 

5 to do so, and how the efforts are assisting small 

6 business concerns (as defined under section 

7 3(a) of the Small Business Act); and 

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

9 with such subparagraphs— 

10 (i) an analysis of the reasons therefor; 

11 (ii) a description of what the Bank is 

12 doing to achieve, and the date by which the 

13 Banks expects to have achieved, such com14 pliance; and 

15 (iii) the name of each Bank officer 

16 who is responsible for ensuring that the 

17 Bank achieves, and the name of the person 

18 to whom the Bank officer reports on 

19 progress in achieving, such compliance. 

20 (f) PUBLIC DISCLOSURE OF CERTAIN DOCU21 MENTS.—Section 11(a)(1) of the Export-Import Bank of 

22 1945 (12 U.S.C. 635i-5(a)(1)) is amended by inserting 

23 after the first sentence the following: ‘‘Such procedures 

24 shall provide for the public disclosure of environmental as25 sessments and supplemental environmental reports reVerDate Aug 31 2005 01:10 Jul 27, 2006 Jkt 049200 PO 00000 Frm 00026 Fmt 6652 Sfmt 6201 E:\BILLS\H5068.RFS H5068

jcorcoran on PROD1PC62 with BILLS
27 

HR 5068 RFS 

1 quired to be submitted to the Bank, including remediation 

2 or mitigation plans and procedures, and related moni3 toring reports. The preceding sentence shall not be inter4 preted to require the public disclosure of any information 

5 described in section 1905 of title 18, United States 

6 Code.’’. 

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

8 UNITED STATES. 

9 Within 90 days after the date of the enactment of 

10 this Act, the Export-Import Bank of the United States 

11 shall submit to the appropriate committees of the Con12 gress a report on the revenues, expenditures, and resulting 

13 annual net income or expense to the United States for 

14 each of the 10 years most recently completed before the 

15 date of the report. 

16 SEC. 10. COMPETITIVENESS INITIATIVES. 

17 (a) EXPANSION OF SCOPE OF ANNUAL COMPETI18 TIVENESS REPORT.— 

19 (1) CONSOLIDATION AND REORGANIZATION OF

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

21 (12 U.S.C. 635–635i-9) is amended by inserting 

22 after section 8 the following: 


jcorcoran on PROD1PC62 with BILLS
28 

HR 5068 RFS 

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

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

3 year, the Bank shall submit to the appropriate committees 

4 of the Congress a report that includes the following: 

5 ‘‘(1) ACTIONS OF BANK IN PROVIDING FINANC6 ING ON A COMPETITIVE BASIS, AND TO MINIMIZE

7 COMPETITION IN GOVERNMENT-SUPPORTED EXPORT

8 FINANCING.—A description of the actions of the 

9 Bank in complying with the 2nd and 3rd sentences 

10 of section 2(b)(1)(A). In this part of the report, the 

11 Bank shall include a survey of all other major ex12 port-financing facilities available from other govern13 ments and government-related agencies through 

14 which foreign exporters compete with United States 

15 exporters (including through use of market windows 

16 (as defined in section 10(h)(7)) and indicate in spe17 cific terms the ways in which the Bank’s rates, 

18 terms, and other conditions compare with those of19 fered from such other governments directly or indi20 rectly. With respect to the preceding sentence, the 

21 Bank shall use all available information to estimate 

22 the annual amount of export financing available 

23 from each such government and government-related 

24 agency. In this part of the report, the Bank shall in25 clude a survey of a representative number of United 

26 States exporters and United States commercial lendVerDate Aug 31 2005 01:10 Jul 27, 2006 Jkt 049200 PO 00000 Frm 00028 Fmt 6652 Sfmt 6201 E:\BILLS\H5068.RFS H5068

jcorcoran on PROD1PC62 with BILLS
29 

HR 5068 RFS 

1 ing institutions which provide export credit to deter2 mine the experience of the exporters and institutions 

3 in meeting financial competition from other coun4 tries whose exporters compete with United States ex5 porters. 

6 ‘‘(2) ROLE OF BANK IN IMPLEMENTING STRA7 TEGIC PLAN PREPARED BY THE TRADE PROMOTION

8 COORDINATING COMMITTEE.—A description of the 

9 role of the Bank in implementing the strategic plan 

10 prepared by the Trade Promotion Coordinating 

11 Committee in accordance with section 2312 of the 

12 Export Enhancement Act of 1988. 

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

14 The report required by section 10(g). 

15 ‘‘(4) PURPOSE OF ALL BANK TRANSACTIONS.— 

16 A description of all Bank transactions which shall be 

17 classified according to their principal purpose, such 

18 as to correct a market failure or to provide matching 

19 support. 

20 ‘‘(5) EFFORTS OF BANK TO PROMOTE EXPORT

21 OF GOODS AND SERVICES RELATED TO RENEWABLE

22 ENERGY SOURCES.—A description of the efforts un23 dertaken under section 2(b)(1)(K). 

24 ‘‘(6) SIZE OF BANK PROGRAM ACCOUNT.—A 

25 separate section which— 


jcorcoran on PROD1PC62 with BILLS
30 

HR 5068 RFS 

1 ‘‘(A) compares the size of the Bank pro2 gram account with the size of the program ac3 counts of the other major export-financing fa4 cilities referred to in paragraph (1); and 

5 ‘‘(B) makes recommendations with respect 

6 to the relative size of the Bank program ac7 count, based on factors including whether the 

8 size differences are in the best interests of the 

9 United States taxpayer. 

10 ‘‘(7) CO-FINANCING PROGRAMS OF THE BANK

11 AND OF OTHER EXPORT CREDIT AGENCIES.—A sep12 arate section which describes the co-financing pro13 grams of the Bank and of the other major export14 financing facilities referred to in paragraph (1), 

15 which shall include a list of which countries with 

16 which the United States has in effect a memo17 randum of understanding relating to export credit 

18 agency co-financing and an explanation of why such 

19 a memorandum is not in effect with the countries 

20 with which such a memorandum is not in effect. 

21 ‘‘(8) AFTER-MARKET SERVICES SUPPORT BY

22 THE BANK AND BY OTHER EXPORT CREDIT AGEN23 CIES.—A separate section which describes the par24 ticipation of the Bank in providing funding, guaran25 tees, or insurance for after-market services, which 


jcorcoran on PROD1PC62 with BILLS
31 

HR 5068 RFS 

1 shall include appropriate information on the involve2 ment of the other major export-financing facilities 

3 referred to in paragraph (1) in providing such sup4 port for after-market services, and an explanation of 

5 any differences among the facilities in providing the 

6 support. 

7 ‘‘(9) EXPORT FINANCE CASES NOT IN COMPLI8 ANCE WITH THE ARRANGEMENT.—Detailed informa9 tion on cases of export finance that are not in com10 pliance with the Arrangement (as defined in section 

11 10(h)(3)) or that exploit loopholes in the Arrange12 ment for the purpose of obtaining a commercial 

13 competitive advantage. 

14 ‘‘(10) FOREIGN EXPORT CREDIT AGENCY AC15 TIVITIES NOT CONSISTENT WITH THE WTO AGREE16 MENT ON SUBSIDIES AND COUNTERVAILING MEAS17 URES.—A description of the extent to which the ac18 tivities of foreign export credit agencies and other 

19 entities sponsored by a foreign government, particu20 larly those that are not members of the Arrange21 ment (as defined in section 10(h)(3)), are not in 

22 compliance with the Arrangement and may not be 

23 consistent with the terms of the Agreement on Sub24 sidies and Countervailing Measures referred to in 

25 section 101(d)(12) of the Uruguay Round AgreeVerDate Aug 31 2005 01:10 Jul 27, 2006 Jkt 049200 PO 00000 Frm 00031 Fmt 6652 Sfmt 6201 E:\BILLS\H5068.RFS H5068

jcorcoran on PROD1PC62 with BILLS
32 

HR 5068 RFS 

1 ments Act (19 U.S.C. 3511(d)(12)), and a descrip2 tion of the actions taken by the United States Gov3 ernment to address the activities. 

4 ‘‘(b) BOARD VOTE ON REPORT REQUIRED.—The 

5 Board of Directors shall vote to approve and shall sign 

6 each report required by subsection (a). 

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

8 report required by subsection (a) shall include such dis9 senting views and additional comments as any member of 

10 the Board of Directors may submit to the Board for inclu11 sion in the report.’’. 

12 (2) CONFORMING AMENDMENT.—Section 

13 2(b)(1)(A) of such Act (12 U.S.C. 635(b)(1)(A)) is 

14 amended by striking all that follows the 3rd sen15 tence. 

16 (b) REPORT ON INVOLVEMENT OF THE BANK AND

17 OF OTHER EXPORT CREDIT AGENCIES IN REGIONAL

18 MULTI-BUYER INSURANCE PROGRAMS AND WORKING19 CAPITAL GUARANTEE PROGRAMS.—Section 8 of such Act 

20 (12 U.S.C. 635g), as amended by sections 4 and 5 of this 

21 Act, is amended by adding at the end the following: 

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

23 OF OTHER EXPORT CREDIT AGENCIES IN REGIONAL

24 MULTI-BUYER INSURANCE PROGRAMS AND WORKING25 CAPITAL GUARANTEE PROGRAMS.—The Bank shall inVerDate Aug 31 2005 01:10 Jul 27, 2006 Jkt 049200 PO 00000 Frm 00032 Fmt 6652 Sfmt 6201 E:\BILLS\H5068.RFS H5068

jcorcoran on PROD1PC62 with BILLS
33 

HR 5068 RFS 

1 clude in its annual report to the Congress under sub2 section (a) of this section a separate section that contains 

3 a report on— 

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

5 and working capital guarantee programs operated 

6 by, through, or in conjunction with the Bank, which 

7 shall include an analysis of the effectiveness of the 

8 programs and of how effective the programs would 

9 be in increasing export-related jobs in the United 

10 States if the programs were larger; 

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

12 major export-financing facilities available from other 

13 governments and government-related agencies 

14 through which foreign exporters compete with 

15 United States exporters (including through use of 

16 market windows (as defined in section 10(h)(7)); 

17 and 

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

19 the programs, of the working relationship between 

20 the Bank and the Small Business Administration, 

21 the Department of Commerce, and other United 

22 States Government agencies concerned with increas23 ing the number of export-related jobs in the United 

24 States.’’. 


jcorcoran on PROD1PC62 with BILLS
34 

HR 5068 RFS 

1 (c) CLARIFICATION OF USE OF TIED AID CREDIT

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

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

4 (1) in subsection (a)— 

5 (A) in paragraph (5)— 

6 (i) in the matter preceding subpara7 graph (A), by striking ‘‘two’’ and inserting 

8 ‘‘3’’; 

9 (ii) in subparagraph (A)(iv), by strik10 ing ‘‘and’’; and 

11 (iii) by adding at the end the fol12 lowing: 

13 ‘‘(C) third, the Bank should support 

14 United States exporters when the exporters face 

15 foreign competition that is supported by foreign 

16 export credit agencies or other entities spon17 sored by a foreign government that are not 

18 party to the Arrangement; and’’; and 

19 (B) in paragraph (6)— 

20 (i) in the matter preceding subpara21 graph (A), by inserting ‘‘including those 

22 that are not a party to the Arrangement’’ 

23 after ‘‘countries’’; 

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

25 ‘‘and’’ at the end; and 


jcorcoran on PROD1PC62 with BILLS
35 

HR 5068 RFS 

1 (iii) by inserting after subparagraph 

2 (B) the following: 

3 ‘‘(C) promoting compliance with Arrange4 ment rules among foreign export credit agencies 

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

6 (2) in subsection (b)— 

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

8 consultation with the Secretary and’’; and 

9 (B) in paragraph (5)— 

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

11 ‘‘Secretary and the Bank jointly’’ and in12 serting ‘‘Bank’’; 

13 (ii) in subparagraph (B)— 

14 (I) in clause (i)— 

15 (aa) in the matter preceding 

16 subclause (I), by striking ‘‘Sec17 retary and the’’; 

18 (bb) in subclause (I), by in19 serting ‘‘, and to bring into the 

20 Arrangement those countries that 

21 are not a party to the Arrange22 ment’’ before the period; and 

23 (cc) in subclause (III), by 

24 adding at the end the following 

25 ‘‘In cases where information 


jcorcoran on PROD1PC62 with BILLS
36 

HR 5068 RFS 

1 about a specific offer of foreign 

2 tied aid (or untied aid used to 

3 promote exports as if it were tied 

4 aid) is not available in a timely 

5 manner, or is unavailable because 

6 the foreign export credit agency 

7 involved is not subject to the re8 porting requirements under the 

9 Arrangement, then the Bank may 

10 decide to use the Tied Aid Credit 

11 Fund based on credible evidence 

12 of a history of such offers under 

13 similar circumstances or other 

14 forms of credible evidence.’’; and 

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

16 the end the following: ‘‘The President 

17 of the United States shall notify the 

18 Congress of such a determination 

19 within 30 days, including an expla20 nation for the determination.’’; 

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

22 ‘‘the Secretary and’’; and 

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

24 ‘‘Secretary and the Bank jointly’’ and in25 serting ‘‘Bank’’. 


jcorcoran on PROD1PC62 with BILLS
37 

HR 5068 RFS 

1 (d) EXPANSION OF COUNTRIES IN COMPETITION

2 WITH WHOM THE BANK IS TO PROVIDE EXPORT FI3 NANCING.—Section 2(b)(1)(A) of such Act (12 U.S.C. 

4 635(b)(1)(A)) is amended in the 2nd sentence by inserting 

5 ‘‘, including countries the governments of which are not 

6 members of the Arrangement (as defined in section 

7 10(h)(3))’’ before the period. 

8 (e) AUTHORITY TO SEEK USE OF MIXED FORMS OF

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

10 U.S.C. 635i-3) is amended by adding at the end the fol11 lowing: 

12 ‘‘(i) AUTHORITY TO SEEK USE OF MIXED FORMS OF

13 CONCESSIONAL FINANCING.—For purposes of improving 

14 the effects of Bank financing on development in tied aid 

15 eligible markets (as defined under the Arrangement) and 

16 of improving the competitiveness of the Bank in the mar17 kets, the Bank shall, in consultation with United States 

18 government aid agencies and, as appropriate, multilateral 

19 aid institutions, seek to establish, consistent with the Ar20 rangement, a mixed credit program consisting of longer 

21 term financing and other forms of more flexible repayment 

22 terms, financing of transactions in local currencies, and 

23 other forms of concessional financing that meets the needs 

24 of the product sector and foreign market involved.’’. 


jcorcoran on PROD1PC62 with BILLS
38 

HR 5068 RFS 

1 (f) INSTRUCTIONS REGARDING NEGOTIATION OF

2 THE OECD ARRANGEMENT.—The Secretary of the Treas3 ury shall instruct the designee of the Secretary to the ne4 gotiation of the Arrangement (as defined in section 

5 10(h)(3) of the Export-Import Bank Act of 1945) to in6 form the other participants in the negotiation that the 

7 goals of the United States include the following: 

8 (1) Seeking compliance with the Arrangement 

9 among countries with significant export credit pro10 grams who are not members of the Arrangement. 

11 (2) Seeking to identify within the World Trade 

12 Organization the extent to which countries that are 

13 not a party to the Arrangement are not in compli14 ance with the terms of the Agreement on Subsidies 

15 and Countervailing Measures referred to in section 

16 101(d)(12) of the Uruguay Round Agreements Act 

17 (19 U.S.C. 3511(d)(12)) in regards to export fi18 nance, and seeking appropriate action within the 

19 World Trade Organization if such a country is not 

20 in such compliance. 

21 (3) Implementing new disciplines on the use of 

22 untied aid, market windows, and other forms of ex23 port finance that seek to exploit loopholes in the Ar24 rangement for purposes of obtaining a commercial 

25 competitive advantage. 


jcorcoran on PROD1PC62 with BILLS
39 

HR 5068 RFS 

1 SEC. 11. CONSIDERATION OF ENVIRONMENTAL MATTERS 

2 BY THE ADVISORY COMMITTEE. 

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

4 (12 U.S.C. 635a(d)) is amended— 

5 (1) in paragraph (1)— 

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

7 and inserting ‘‘17’’; and 

8 (B) in subparagraph (B), by inserting ‘‘en9 vironment,’’ before ‘‘production,’’; and 

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

11 following: 

12 ‘‘(C) Not less than 2 members appointed to the Advi13 sory Committee shall be representative of the environ14 mental nongovernmental organization community, except 

15 that no 2 of the members shall be from the same environ16 mental organization. Environmental organizations rep17 resented shall have demonstrated experience with environ18 mental issues associated with the Bank, the Export Credit 

19 Group of the Organization for Economic Cooperation and 

20 Development, or both.’’. 

21 SEC. 12. STUDY OF HOW EXPORT-IMPORT BANK COULD AS22 SIST UNITED STATES EXPORTERS TO MEET 

23 IMPORT NEEDS OF NEW OR IMPOVERISHED 

24 DEMOCRACIES; REPORTS. 

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

26 States shall conduct a study designed to assess the needs 


jcorcoran on PROD1PC62 with BILLS
40 

HR 5068 RFS 

1 of new or impoverished democracies such as Liberia and 

2 Haiti, for imports from the United States, and shall deter3 mine what role the Bank can play a role in helping United 

4 States exporters seize the opportunities presented by the 

5 need for such imports. 

6 (b) REPORTS TO THE CONGRESS.— 

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

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

9 submit to the Committee on Financial Services of 

10 the House of Representatives and the Committee on 

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

12 in writing, an interim report that contains the re13 sults of the study required by subsection (a). 

14 (2) FINAL REPORT.—Within 12 months after 

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

16 submit to the Committee on Financial Services of 

17 the House of Representatives and the Committee on 

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

19 in writing a final report that contains the results of 

20 the study required by subsection (a). 

21 SEC. 13. REVIEW OF ENVIRONMENTAL SCREENING RE22 QUIREMENT. 

23 (a) IN GENERAL.—Within 6 months after the posi24 tion of Inspector General of the Export-Import Bank of 

25 the United States is filled, the Inspector General of the 


jcorcoran on PROD1PC62 with BILLS
41 

HR 5068 RFS 

1 Export-Import Bank of the United States shall submit to 

2 the Committee on Resources and the Committee on Finan3 cial Services of the House of Representatives, and to the 

4 Committee on Banking, Housing, and Urban Affairs of 

5 the Senate a report on the implications of limiting the re6 quirement to conduct environmental screenings of projects 

7 proposed to be financed by the Bank to only those involv8 ing at least $10,000,000. 

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

10 (1) determine whether the $10,000,000 limita11 tion prevents the identification of any project that 

12 may have an adverse effect on the environment; and 

13 (2) propose guidelines for how project applica14 tions may be screened more effectively to determine 

15 whether a project may have such an effect. 

16 SEC. 14. OFFICE OF RENEWABLE ENERGY PROMOTION. 

17 Section 3 of the Export-Import Bank Act of 1945 

18 (12 U.S.C. 635a), as amended by section 4(a)(1) of this 

19 Act, is amended by adding at the end the following: 

20 ‘‘(j) OFFICE OF RENEWABLE ENERGY PRO21 MOTION.— 

22 ‘‘(1) ESTABLISHMENT.—Within 1 year after 

23 the date of the enactment of this subsection, the 

24 President of the Bank shall establish and maintain 

25 in the Bank an office which shall be known as the 


jcorcoran on PROD1PC62 with BILLS
42 

HR 5068 RFS 

1 ‘Office of Renewable Energy Promotion’ (in this 

2 subsection referred to as the ‘Office’). 

3 ‘‘(2) FUNCTIONS.—The Office shall be respon4 sible for proactively identifying new opportunities for 

5 renewable energy financing and carrying out section 

6 2(b)(1)(K). In carrying out its function of promoting 

7 renewable energy technologies, the Office should, 

8 among other things, consider the recommendations 

9 made by the Renewable Energy Export Advisory 

10 Committee. 

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

12 ensure that the Office has staff with appropriate ex13 pertise in renewable energy technologies. 

14 ‘‘(4) ANNUAL REPORTS.—The Bank shall sub15 mit annually to the Committee on Resources and the 

16 Committee on Financial Services of the House of 

17 Representatives, and to the Committee on Banking, 

18 Housing, and Urban Affairs of the Senate, a report 

19 that contains, for the fiscal year covered by the re20 port— 

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

22 of the Office; and 

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

24 credit extended by the Bank for renewable enVerDate Aug 31 2005 01:10 Jul 27, 2006 Jkt 049200 PO 00000 Frm 00042 Fmt 6652 Sfmt 6201 E:\BILLS\H5068.RFS H5068

jcorcoran on PROD1PC62 with BILLS
43 

HR 5068 RFS 

1 ergy projects with the level of credit so ex2 tended for the preceding fiscal year. 

3 ‘‘(5) RENEWABLE ENERGY TECHNOLOGIES DE4 FINED.—In this subsection, the term ‘renewable en5 ergy technologies’ means technologies for producing 

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

7 and energy from biomass, fuel cells, or geothermal 

8 sources, and technologies for producing less than 10 

9 megawatts in hydropower.’’. 

10 SEC. 15. TRANSPARENCY. 

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

12 Bank Act of 1945 (12 U.S.C. 635(e)), as amended by sec13 tion 8(b) of this Act, is amended by adding at the end 

14 the following: 

15 ‘‘(6) PROCEDURES TO REDUCE ADVERSE EF16 FECTS OF LOANS AND GUARANTEES ON INDUSTRIES

17 AND EMPLOYMENT IN UNITED STATES.— 

18 ‘‘(A) CONSIDERATION OF ECONOMIC EF19 FECTS OF PROPOSED TRANSACTIONS.—If, in 

20 making a determination under this paragraph 

21 with respect to a loan or guarantee, the Bank 

22 conducts a detailed economic impact analysis or 

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

24 may be, shall include consideration of— 


jcorcoran on PROD1PC62 with BILLS
44 

HR 5068 RFS 

1 ‘‘(i) the factors set forth in subpara2 graphs (A) and (B) of paragraph (1); and 

3 ‘‘(ii) the views of the public and inter4 ested parties. 

5 ‘‘(B) NOTICE AND COMMENT REQUIRE6 MENTS.— 

7 ‘‘(i) IN GENERAL.—If, in making a 

8 determination under this subsection with 

9 respect to a loan or guarantee, the Bank 

10 intends to conduct a detailed economic im11 pact analysis or similar study, the Bank 

12 shall cause to be published in the Federal 

13 Register a notice of the intent, and provide 

14 a period of not less than 14 days (which, 

15 on request by any affected party, shall be 

16 extended to a period of not more than 30 

17 days) for the submission to the Bank of 

18 comments on the economic effects of the 

19 provision of the loan or guarantee. In addi20 tion, the Bank shall seek comments on the 

21 effects from the Department of Commerce, 

22 the International Trade Commission, the 

23 Office of Management and Budget, the 

24 Committee on Banking, Housing, and 

25 Urban Affairs of the Senate, and the ComVerDate Aug 31 2005 01:10 Jul 27, 2006 Jkt 049200 PO 00000 Frm 00044 Fmt 6652 Sfmt 6201 E:\BILLS\H5068.RFS H5068

jcorcoran on PROD1PC62 with BILLS
45 

HR 5068 RFS 

1 mittee on Financial Services of the House 

2 of Representatives. 

3 ‘‘(ii) CONTENT OF NOTICE.—The no4 tice shall include appropriate, nonpropri5 etary information about— 

6 ‘‘(I) the name of the applicant; 

7 ‘‘(II) the country to which the 

8 goods involved in the transaction will 

9 be shipped; 

10 ‘‘(III) the type of goods being ex11 ported; 

12 ‘‘(IV) the amount of the loan or 

13 guarantee involved; 

14 ‘‘(V) the goods that would be 

15 produced as a result of the provision 

16 of the loan or guarantee; 

17 ‘‘(VI) the amount of increased 

18 production that will result from the 

19 transaction; 

20 ‘‘(VII) the potential sales market 

21 for the resulting goods; 

22 ‘‘(VIII) the value of the trans23 action; and 

24 ‘‘(IX) any other relevant infor25 mation. 


jcorcoran on PROD1PC62 with BILLS
46 

HR 5068 RFS 

1 ‘‘(iii) PROCEDURE REGARDING MATE2 RIALLY CHANGED APPLICATIONS.— 

3 ‘‘(I) IN GENERAL.—If a material 

4 change is made to an application for 

5 a loan or guarantee from the Bank 

6 after a notice with respect to the in7 tent described in clause (i) is pub8 lished under this subparagraph, the 

9 Bank shall cause to be published in 

10 the Federal Register a revised notice 

11 of the intent, and shall provide for a 

12 comment period, as provided in 

13 clauses (i) and (ii). 

14 ‘‘(II) MATERIAL CHANGE DE15 FINED.—In subclause (I), the term 

16 ‘material change’, with respect to an 

17 application, includes— 

18 ‘‘(aa) a change of at least 

19 25 percent in the amount of a 

20 loan or guarantee requested in 

21 the application; and 

22 ‘‘(bb) a change in the prin23 cipal product to be produced as a 

24 result of any transaction that 


jcorcoran on PROD1PC62 with BILLS
47 

HR 5068 RFS 

1 would be facilitated by the provi2 sion of the loan or guarantee. 

3 ‘‘(C) REQUIREMENT TO CONSIDER AND

4 ADDRESS VIEWS OF ADVERSELY AFFECTED

5 PERSONS.—Before taking final action on an ap6 plication for a loan or guarantee from the Bank 

7 to which this subsection applies, the Bank shall 

8 consider and address in writing the views of any 

9 person who may be substantially adversely af10 fected by the provision of the loan or guarantee. 

11 ‘‘(D) PUBLICATION OF CONCLUSIONS.— 

12 Within 30 days after a party affected by a final 

13 decision of the Board of Directors with respect 

14 to a loan or guarantee makes a written request 

15 therefor, the Bank shall provide to the affected 

16 party a non-confidential summary of the facts 

17 found and conclusions reached in any detailed 

18 economic impact analysis or similar study con19 ducted pursuant to subparagraph (B) with re20 spect to the loan or guarantee, that were sub21 mitted to the Board of Directors. 

22 ‘‘(E) RULE OF INTERPRETATION.—This 

23 paragraph shall not be construed to make sub24 chapter II of chapter 5 of title 5, United States 

25 Code, applicable to the Bank. 


jcorcoran on PROD1PC62 with BILLS
48 

HR 5068 RFS 

1 ‘‘(F) REGULATIONS.—The Bank shall im2 plement such regulations and procedures as 

3 may be appropriate to carry out this para4 graph.’’. 

5 (b) CONFORMING AMENDMENT.—Section 2(e)(2)(C) 

6 of such Act (12 U.S.C. 635(e)(2)(C)) is amended by in7 serting ‘‘of not less than 14 days (which, on request of 

8 any affected party, shall be extended to a period of not 

9 more than 30 days)’’ after ‘‘comment period’’. 

10 SEC. 16. ANTI-CIRCUMVENTION. 

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

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

13 15(a) of this Act, is amended— 

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

15 the end the following: 

16 ‘‘In making the determination under subparagraph 

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

18 that would benefit from the extension of a credit or 

19 guarantee is reasonably likely to produce products in 

20 addition to or other than the product specified in the 

21 application and whether the production of the prod22 ucts may cause substantial injury to United States 

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

24 commodity.’’; 


jcorcoran on PROD1PC62 with BILLS
49 

HR 5068 RFS 

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

2 following: 

3 ‘‘(E) ANTI-CIRCUMVENTION.—The Bank 

4 shall not provide a loan or guarantee if the 

5 Bank determines that providing the loan or 

6 guarantee will facilitate circumvention of a 

7 trade law order or determination referred to in 

8 subparagraph (A).’’; and 

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

10 ‘‘(7) FINANCIAL THRESHOLD DETERMINA11 TIONS.—For purposes of determining whether a pro12 posed transaction exceeds a financial threshold 

13 under this subsection or under the procedures or 

14 rules of the Bank, the Bank shall aggregate the dol15 lar amount of the proposed transaction and the dol16 lar amounts of all loans and guarantees, approved 

17 by the Bank in the preceding 24-month period, that 

18 involved the same foreign entity and substantially 

19 the same product to be produced.’’. 


jcorcoran on PROD1PC62 with BILLS
50 

HR 5068 RFS 

1 SEC. 17. PERFORMANCE STANDARDS APPLICABLE TO BANK 

2 ASSISTANCE FOR SMALL BUSINESSES, ESPE3 CIALLY THOSE OWNED BY SOCIAL AND ECO4 NOMICALLY DISADVANTAGED INDIVIDUALS 

5 AND THOSE OWNED BY WOMEN. 

6 (a) DEVELOPMENT OF PERFORMANCE STAND7 ARDS.—Within 120 days after the date of the enactment 

8 of this Act, the Comptroller General of the United States 

9 shall develop and transmit to the Board of Directors of 

10 the Export-Import Bank of the United States— 

11 (1) a set of standards which may be used to de12 termine the extent to which the Bank has carried 

13 out successfully subparagraphs (E) and (I) of sec14 tion 2(b)(1) of the Export-Import Bank Act of 

15 1945, and the functions described in subsections 

16 (f)(1)(A), (f)(5)(A), and (h)(2) of section 3 of such 

17 Act; and 

18 (2) a set of rules for measuring the perform19 ance of the Bank against the standards. 

20 (b) REPORT ON PERFORMANCE.—Section 8 of the 

21 Export-Import Bank Act of 1945 (12 U.S.C. 635g), as 

22 amended by sections 4, 5, and 10(b) of this Act, is amend23 ed by adding at the end the following: 

24 ‘‘(j) REPORT ON ACHIEVEMENT OF PERFORMANCE

25 STANDARDS APPLICABLE TO SMALL BUSINESS CON26 CERNS, SOCIALLY AND ECONOMICALLY DISADVANTAGED


jcorcoran on PROD1PC62 with BILLS
51 

HR 5068 RFS 

1 SMALL BUSINESS CONCERNS, AND SMALL BUSINESS

2 CONCERNS OWNED BY WOMEN.—The Bank shall submit 

3 annually to the Congress, and include in a separate section 

4 of the annual report to the Congress under subsection (a) 

5 of this section, a report on the extent to which the Bank 

6 has carried out successfully subparagraphs (E) and (I) of 

7 section 2(b)(1), and the functions described in subsections 

8 (f)(1)(A), (f)(5)(A), and (h)(2) of section 3, of this Act, 

9 using the performance standards and measuring rules de10 veloped pursuant to section 12(a) of the Export-Import 

11 Bank Reauthorization Act of 2006.’’. 

12 SEC. 18. PROHIBITION ON ASSISTANCE TO DEVELOP OR 

13 PROMOTE ANY RAIL CONNECTIONS OR RAIL14 WAY-RELATED CONNECTIONS THAT TRA15 VERSE OR CONNECT BAKU, AZERBAIJAN, 

16 TBILISI, GEORGIA, AND KARS, TURKEY, AND 

17 THAT SPECIFICALLY EXCLUDE CITIES IN AR18 MENIA. 

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

20 (12 U.S.C. 635(b)) is amended by adding at the end the 

21 following: 

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

23 credit, or participate in an extension of credit in connec24 tion with the development or promotion of any rail connec25 tions or railway-related connections that do not traverse 


jcorcoran on PROD1PC62 with BILLS
52 

HR 5068 RFS 

1 or connect with Armenia, and do traverse or connect 

2 Baku, Azerbaijan, Tbilisi, Georgia, and Kars, Turkey.’’. 

3 SEC. 19. TECHNICAL CORRECTIONS. 

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

5 of 1945 (12 U.S.C. 635(b)(2)(B)(ii)) is amended by strik6 ing subclauses (I), (III), (VII), (VIII), and (IX), and re7 designating subclauses (II), (IV), (V), and (VI) as sub8 clauses (I) through (IV), respectively. 

9 SEC. 20. EFFECTIVE DATE. 

10 The amendments made by this Act shall take effect 

11 on October 1, 2006. 

Passed the House of Representatives July 25, 2006. 

Attest: KAREN L. HAAS, 

Clerk. 


jcorcoran on PROD1PC62 with BILLS