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[Congressional Bills 109th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5068 Introduced in House (IH)]

109th CONGRESS
  2d Session
                                H. R. 5068

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

_______________________________________________________________________

                                 A BILL

 
To reauthorize the operations of the Export-Import Bank, and to reform 
        certain operations of the Bank, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Export-Import Bank Reauthorization 
Act of 2006''.

SEC. 2. TABLE OF CONTENTS.

    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. Technical corrections.
Sec. 13. Effective date.

SEC. 3. REAUTHORIZATION.

    Section 7 of the Export-Import Bank Act of 1945 (12 U.S.C. 635f) is 
amended by striking ``2006'' and inserting ``2011''.

SEC. 4. INCREASING EXPORTS BY SMALL BUSINESSES.

    (a) Establishment of Small Business Division.--
            (1) In general.--Section 3 of the Export-Import Bank Act of 
        1945 (12 U.S.C. 635a) is amended by adding at the end the 
        following:
    ``(f) Small Business Division.--
            ``(1) Establishment.--The President of the Bank shall 
        establish and maintain a division of the Bank whose sole 
        functions shall be to--
                    ``(A) carry out subparagraphs (E) and (I) of 
                section 2(b)(1), as such subparagraphs relate to 
                outreach, feedback, product improvement, and 
                transaction advocacy for small business concerns;
                    ``(B) advise and seek feedback from small business 
                concerns of the opportunities and benefits for small 
                business concerns in the financing products offered by 
                the Bank, with particular emphasis on conducting 
                outreach, better tailoring products to small business 
                needs and increasing loans to small business concerns 
                employing fewer than 100 employees; and
                    ``(C) maintain liaison with the Small Business 
                Administration and other departments and agencies in 
                matters affecting small business concerns.
            ``(2) Management.--The division shall be managed by a Bank 
        officer designated by the Board of Directors--
                    ``(A) who shall have substantial recent experience 
                in financing exports by small business concerns;
                    ``(B) whose sole executive duty shall be to ensure 
                that the division carries out the functions of the 
                division;
                    ``(C) who shall advise the Board, particularly the 
                Director appointed under section 3(c)(8)(B) to 
                represent the interests of small business, on matters 
                of interest to, and concern for, small business;
                    ``(D) who shall rank not lower than senior vice 
                president of the Bank; and
                    ``(E) who shall report directly to the President of 
                the Bank.
            ``(3) Resources.--
                    ``(A) In general.--The President of the Bank shall 
                ensure that the division has sufficient qualified staff 
                and budgetary resources to carry out subparagraphs (E) 
                and (I) of section 2(b)(1), as determined annually by 
                the President of the Bank, after consultation with--
                            ``(i) the officer referred to in paragraph 
                        (2) of this subsection;
                            ``(ii) the Director appointed under 
                        subsection (c)(8)(B) of this section;
                            ``(iii) the Committee on Financial Services 
                        of the House of Representatives; and
                            ``(iv) the Committee on Banking, Housing, 
                        and Urban Affairs of the Senate.
                    ``(B) Uses.--
                            ``(i) In general.--The President of the 
                        Bank shall ensure that the staff and budgetary 
                        resources of the division are devoted solely to 
                        carrying out the functions of the division.
                            ``(ii) Certain staff duties.--The division 
                        shall include staff dedicated exclusively to 
                        providing outreach, training, and advice to, 
                        seeking feedback from, and advocating on behalf 
                        of small business concerns regarding Bank 
                        financing opportunities, products, and 
                        programs.
                    ``(C) Rule of interpretation.--Nothing in this Act 
                shall be construed to prevent the delegation to the 
                division of any authority necessary to carry out 
                subparagraphs (E) and (I) of section 2(b)(1).
            ``(4) Small business concern defined.--In this subsection 
        and subsections (g) and (h), the term `small business concern' 
        shall have the meaning established under section 3(a) of the 
        Small Business Act.
    ``(g) Handling of Applications of, and Processing of Transactions 
Involving Small Business Concerns.--Consistent with the requirement 
that the Bank obtain a reasonable assurance of repayment for each 
transaction the Bank supports, the Bank shall establish and maintain 
transaction standards tailored to the special circumstances of small 
business concerns and shall use the standards in evaluating 
applications by the concerns for Bank financing. The Bank shall ensure 
that each appropriate division of the Bank has staff dedicated to the 
processing of transactions involving small business concerns.
    ``(h) Small Business Committee.--
            ``(1) Establishment.--The Bank shall establish and maintain 
        a committee to be known as the `Small Business Committee'.
            ``(2) Principal purpose.--The principal purpose of the 
        Small Business Committee shall be to focus on small business 
        concerns and coordinate the efforts of the Bank with respect to 
        small business concerns, including the timely processing of 
        small business product applications and the evolution of new or 
        improved Bank products to better serve small business needs.
            ``(3) Composition.--
                    ``(A) Chairman.--The chairman of the Small Business 
                Committee shall be the Senior Vice President of the 
                Bank who is responsible for management of the Small 
                Business Division of the Bank.
                    ``(B) Other members.--The President of the Bank 
                shall ensure that the committee is comprised of 
                officers and employees throughout the Bank that have 
                responsibility for outreach and processing transactions 
                involving small business concerns.
            ``(4) Reports.--The Small Business Committee shall report 
        to the President of the Bank.''.
            (2) Coordination in financing of small business exports.--
        Section 2(b)(1)(E)(vii)(I) of such Act (12 U.S.C. 
        635(b)(1)(E)(vii)(I)) is amended by adding at the end the 
        following: ``The Bank shall work in coordination with the 
        entities described in the preceding sentence to streamline the 
        processing of applications for Bank financing from small 
        business concerns and to provide training and advice as 
        required on the needs and benefits of export financing for 
        small business concerns.''
    (b) Report on Fees Charged to, and Transactions Costs Incurred by, 
Small and Medium Business for Bank Services.--Section 8 of such Act (12 
U.S.C. 635g) is amended by adding at the end the following:
    ``(f) Report on Fees Charged to, and Transactions Costs Incurred 
by, Small and Medium Business for Bank Services.--The Bank shall submit 
to the Congress annually, and include in a separate section of the 
annual report to the Congress under subsection (a) of this section, a 
report on--
            ``(1) with respect to each type of transaction, the 
        interest and fees charged by the Bank to exporters (including a 
        description of fees and interest, if any, charged to small 
        business concerns), buyers, and other applicants in connection 
        with each financing program of the Bank, and the highest, 
        lowest, and average fees charged by the Bank for short term 
        insurance transactions;
            ``(2) the effects of the fees on the ability of the Bank to 
        achieve the objectives of the Bank relating to small business; 
        and
            ``(3) the fee structure of the Bank as compared with that 
        of other foreign export credit agencies.''.
    (c) Report on Financing Directed Toward Small Business.--Section 8 
of such Act (12 U.S.C. 635g), as amended by subsection (b) of this 
section, is amended by adding at the end the following:
    ``(g) Report on Financing Directed Toward Small Business.--The Bank 
shall submit annually to the Committees on Financial Services and on 
Small Business of the House of Representatives--
            ``(1) a report on the extent to which the Bank has been 
        able to use the authorities referred to in section 
        2(b)(1)(E)(iv), and, to the extent the Bank has been unable to 
        fully do so, a report on the obstacles to doing so and on what 
        the Bank is doing to overcome the obstacles;
            ``(2) a report on the extent to which financing has been 
        made available to small business concerns to enable them to 
        participate in exports by major contractor, including through 
        access to the supply chains of the contractors through direct 
        or indirect funding; and
            ``(3) a strategic plan of action describing how, in the 
        upcoming year, the Bank will take specific measures to achieve 
        the small business objectives of the Bank, including expanded 
        outreach, product improvements, and related actions.''.
    (d) Conforming Amendments.--
            (1) In general.--
                    (A) Section 2(b)(1)(E) of such Act (12 U.S.C. 
                635(b)(1)(E)), as amended by subsection (a)(2) of this 
                section, is amended--
                            (i) in clause (i)(II), by striking ``gives 
                        fair consideration to making loans and 
                        providing'' and inserting ``make loans and 
                        provide'';
                            (ii) by striking clause (iii);
                            (iii) in clause (iv), by striking ``clauses 
                        (ii) and (iii) of this subparagraph'' and 
                        inserting ``clause (ii)'';
                            (iv) in clause (vi)--
                                    (I) by striking ``clause (v) of 
                                this subparagraph'' and insert ``clause 
                                (iv)''; and
                                    (II) by striking ``clause (vi)'' 
                                and inserting ``clause'';
                            (v) in clause (vii)--
                                    (I) in subclause (I), by striking 
                                ``(v)'' and inserting ``(iv)''; and
                                    (II) in each of subclauses (II), 
                                (III), and (IV), by striking ``clause 
                                (vii)'' and inserting ``clause''; and
                            (vi) by redesignating clauses (iv) through 
                        (x) as clauses (iii) through (ix), 
                        respectively.
                    (B) Section 8 of such Act (12 U.S.C. 635g) is 
                amended--
                            (i) in subsection (b)(2)(B), by striking 
                        ``2(b)(1)(E)(vii)'' and inserting 
                        ``2(b)(1)(E)(vi)''; and
                            (ii) in subsection (c), by striking 
                        ``(E)(x)'' and inserting ``(E)(ix)''.
            (2) Uniform meaning of small business.--Section 2(b)(1)(E) 
        of such Act (12 U.S.C. 635(b)(1)(E)), as amended by subsection 
        (a)(2) of this section and paragraph (1) of this subsection, is 
        amended--
                    (A) in clause (i)(II), by striking ``businesses'' 
                and inserting ``business concerns'';
                    (B) in clause (iv), by striking ``(as defined under 
                section 3 of the Small Business Act)'';
                    (C) in each of clauses (v), (vi) and (vii), by 
                striking ``small business exports'' each place it 
                appears and inserting ``exports by small business 
                concerns''; and
                    (D) by adding at the end the following:
    ``(x) In this subparagraph, the term `small business concern' shall 
have the meaning established under section 3(a) of the Small Business 
Act.''.
    (e) Enhance Delegated Loan Authority for Medium Term 
Transactions.--
            (1) In general.--The Export-Import Bank of the United 
        States shall seek to expand the exercise of authority under 
        section 2(b)(1)(E)(vi) of the Export-Import Bank Act of 1945 
        (as so redesignated by subsection (d)(1)(A)(vi) of this 
        section) with respect to medium term transactions for small 
        business concerns (as defined under section 3(a) of the Small 
        Business Act).
            (2) Conforming amendment.--Section 2(b)(1)(E)(vi)(III) of 
        the Export-Import Bank Act of 1945 (12 U.S.C. 
        635(b)(1)(E)(vi)(III)), as so redesignated by subsection 
        (d)(1)(A)(vi) of this section, is amended by striking ``To the 
        maximum extent practicable, the'' and inserting ``The''.
            (3) Deadline.--Within 180 days after the date of the 
        enactment of this Act, the Export-Import Bank of the United 
        States shall make available lines of credit and guarantees to 
        carry out section 2(b)(1)(E)(vi) of the Export-Import Bank Act 
        of 1945 (as so redesignated by subsection (d)(1)(A)(vi) of this 
        section), pursuant to policies and procedures established by 
        the Board of Directors of the Export-Import Bank of the United 
        States.

SEC. 5. OFFICE OF FINANCING FOR SOCIALLY AND ECONOMICALLY DISADVANTAGED 
              SMALL BUSINESS CONCERNS AND SMALL BUSINESS CONCERNS OWNED 
              BY WOMEN.

    (a) In General.--Section 3(f) of the Export-Import Bank Act of 1945 
(12 U.S.C. 635a(f)), as added by section 4(a) of this Act, is amended 
by redesignating paragraph (4) as paragraph (5) and by inserting after 
paragraph (3) the following:
            ``(4) Office of financing for socially and economically 
        disadvantaged small business concerns and small business 
        concerns owned by women.--
                    ``(A) Establishment.--The President of the Bank 
                shall establish in the division an office whose sole 
                functions shall be to continue and enhance the outreach 
                activities of the Bank with respect to, and increase 
                the total amount of loans, guarantees, and insurance 
                provided by the Bank to support exports by, socially 
                and economically disadvantaged small business concerns 
                (as defined in section 8(a)(4) of the Small Business 
                Act) and small business concerns owned by women.
                    ``(B) Management.--The office shall be managed by a 
                Bank officer of appropriate rank who shall report to 
                the Bank officer designated under section 3(f)(2).''.
    (b) Financing Directed Toward Small Businesses Owned by Minorities 
or Women.--Section 2(b)(1)(E)(iv) of such Act (12 U.S.C. 
635(b)(1)(E)(iv)), as so redesignated by section 4(d)(1)(A)(vi) of this 
Act, is amended by adding at the end the following: ``From the amount 
made available under the preceding sentence, it shall be a goal of the 
Bank to make available not less than 10 percent of the amount to 
finance exports directly by small business concerns referred to in 
section 3(f)(4)(A).''.
    (c) Report on Financing Directed Toward Small Businesses Owned by 
Minorities or Women.--Section 8(g) of such Act (12 U.S.C. 635g(g)), as 
added by section 4(c) of this Act, is amended by inserting ``and to 
finance exports by small business concerns referred to in section 
3(f)(4)(A),'' before ``and to the extent''.
    (d) Report on Bank Efforts to Support Exports by Socially and 
Economically Disadvantaged Small Business Concerns and Small Business 
Concerns Owned by Women.--Section 8 of such Act (12 U.S.C. 635g), as 
amended by section 4 of this Act, is amended by adding at the end the 
following:
    ``(h) Report on Efforts to Support Exports by Small- and Medium-
Sized Businesses Owned by Women or Minorities.--Not later than March 1 
of each year, the Director appointed under section 3(c)(8)(B) of this 
Act shall prepare and submit to the Committee on Financial Services of 
the House of Representatives and the Committee on Banking, Housing, and 
Urban Affairs of the Senate, and the Bank shall include in a separate 
section of the annual report submitted pursuant to subsection (a) of 
this section, a written report that describes the progress made by the 
Bank in supporting exports by socially and economically disadvantaged 
small business concerns (as defined in section 8(a)(4) of the Small 
Business Act) and small business concerns owned by women.''.

SEC. 6. SUB-SAHARAN AFRICA.

    (a) Extension of Advisory Committee.--Section 2(b)(9)(B)(iii) of 
the Export-Import Bank Act of 1945 (12 U.S.C. 635(b)(9)(B)(iii)) is 
amended by striking ``2006'' and inserting ``2011''.
    (b) Improved Liaison With African Regional Financial 
Institutions.--
            (1) Master guarantee agreements.--Within 1 year after the 
        date of the enactment of this Act, the Export-Import Bank of 
        the United States shall seek to ensure that there is in effect 
        a contract between each approved lender in Africa and the Bank, 
        which sets forth the Bank's guarantee undertakings and related 
        obligations between the Bank and the lender.
            (2) Report on working relationships with the african 
        development bank, the africa export-import bank, and other 
        institutions.--Section 2(b)(9) of such Act (12 U.S.C. 
        635(b)(9)) is amended by adding at the end the following:
    ``(C) The Bank shall include in the annual report to the Congress 
submitted under section 8(a) a separate section that contains a report 
on the efforts of the Bank to improve working relationships with the 
African Development Bank, the Africa Export-Import Bank, and other 
institutions in the region that are relevant to the purposes of 
subparagraph (A) of this paragraph.''.
    (c) Closer Cooperation With Other United States Agencies Working in 
Africa.--Section 2(b)(9) of such Act (12 U.S.C. 635(b)(9)) is further 
amended by adding at the end the following:
    ``(D) The Bank shall closely coordinate with the United States 
Foreign Commercial Service and with the overall strategy of the United 
States Government, for economic engagement with Africa pursuant to the 
African Growth and Opportunity Act.
    ``(E) The Bank shall develop initiatives to train Foreign Service 
and Commercial Service officers serving at United State embassies in 
Africa, in the use of Bank programs, so the officers can encourage 
African buyers to take part in transactions supported by the Bank.''.
    (d) Adjustments to Procedures to Promote Qualification of African 
Entities.--Section 2(b)(9) of such Act (12 U.S.C. 635(b)(9)) is further 
amended by adding at the end the following:
    ``(F) Consistent with the requirement that the Bank obtain a 
reasonable assurance of repayment in connection with each transaction 
the Bank supports, the Bank shall, in consultation with the entities 
described in subparagraph (C), seek greater flexibility in the due-
diligence procedures of the Bank for the purpose of qualifying a 
greater number of appropriate African entities for participation in 
programs of the Bank.''.
    (e) Local Currency Financing.--Section 2(b)(9) of such Act (12 
U.S.C. 635(b)(9)) is further amended by adding at the end the 
following:
    ``(G) The Bank shall develop procedures under which the Bank is 
capable of financing certain African programs in local currencies.''.

SEC. 7. EXTENSION OF AUTHORITY.

    Section 1(c) of Public Law 103-428 (12 U.S.C. 635 note) is amended 
by striking ``2001'' and inserting ``2011''.

SEC. 8. TRANSPARENCY INITIATIVES.

    (a) Frequency of Meetings.--Section 3(c) of the Export-Import Bank 
Act of 1945 (12 U.S.C. 635a(c)) is amended by adding at the end the 
following:
    ``(9) The Board of Directors shall meet not less frequently than 
biweekly.''.
    (b) Voting Required in Cases Involving Economic Impact Analysis.--
Section 2(e) of such Act (12 U.S.C. 635(e)) is amended by adding at the 
end the following:
            ``(5) Board vote required.--Within 60 days after completing 
        a review, pursuant to this subsection, of a proposed loan or 
        guarantee (including any applicable comment period), the Board 
        of Directors shall hold a vote to determine whether or not to 
        proceed with the proposed loan or guarantee, unless the 
        applicant has withdrawn the application for the loan or 
        guarantee.''.
    (c) Process for Notifying Applicants of Application Status.--
Section 2 of such Act (12 U.S.C. 635) is amended by adding at the end 
the following:
    ``(g) Process for Notifying Applicants of Application Status.--The 
Bank shall establish and adhere to a clearly defined process for--
            ``(1) acknowledging receipt of applications;
            ``(2) informing applicants that their applications are 
        complete or, if incomplete or containing a minor defect, of the 
        additional material or changes that, if supplied or made, would 
        make the application eligible for consideration; and
            ``(3) keeping applicants informed of the status of their 
        applications, including a clear and timely notification of 
        approval or disapproval, and, in the case of disapproval, the 
        reason for disapproval, as appropriate.''.
    (d) Response to Application for Financing; Implementation of on-
Line Loan Request and Tracking Process.--Section 2 of such Act (12 
U.S.C. 635) is further amended by adding at the end the following:
    ``(h) Within 45 days after receipt of an application for financing 
from the Bank, the Bank shall notify the applicant that the application 
has been received, and shall include in the notice a request for such 
additional information as may be necessary to make the application 
complete, the name of a Bank employee who may be contacted with 
questions relating to the application, and a unique identification 
number which may be used to review the status of the application at a 
website established as provided in the next sentence. Not later than 
September 1, 2006, the Bank shall use the authorities provided by 
subparagraphs (E)(ix) and (J) of subsection (b)(1) of this section to 
establish, and thereafter to maintain, a website through which any Bank 
product may be applied for, information may be obtained about the 
status of any such application, about the small business division of 
the Bank, or about incentives, preferences, targets, and goals relating 
to small business concerns referred to in section 3(f)(4)(A) or small 
business concerns exporting to Africa.''.
    (e) Reports Relating to Technology to Assist Small Businesses.--
            (1) Reports by the bank.--
                    (A) Initial report.--Within 60 days after the date 
                of the enactment of this Act, the President of the 
                Export-Import Bank of the United States shall submit to 
                the Committee on Financial Services of the House of 
                Representatives and the Committee on Banking, Housing, 
                and Urban Affairs of the Senate a report on--
                            (i) the efforts made by the Bank to carry 
                        out subparagraphs (E)(ix) and (J) of section 
                        2(b)(1) of the Export-Import Bank Act of 1945, 
                        including the total amount expended by the Bank 
                        to do so; and
                            (ii) if the Bank has been unable to comply 
                        with such subparagraphs--
                                    (I) an analysis of the reasons 
                                therefor;
                                    (II) what the Bank is doing to 
                                achieve, and the date by which the 
                                Banks expects to have achieved, such 
                                compliance; and
                                    (III) the name of each Bank officer 
                                who is responsible for ensuring that 
                                the Bank achieves, and the name of the 
                                person to whom the Bank officer reports 
                                on progress in achieving, such 
                                compliance.
                    (B) Subsequent annual reports.--Section 8(c) of the 
                Export-Import Bank Act of 1945 (12 U.S.C. 635g(c)) is 
                amended to read as follows:
    ``(c) Technology to Assist Small Businesses.--The Bank shall 
include in its annual report to the Congress under subsection (a) of 
this section for each of fiscal years 2007 through 2011 a separate 
section that contains--
            ``(1) a report on the efforts made by the Bank to carry out 
        subparagraphs (E)(ix) and (J) of section 2(b)(1) of this Act, 
        the total amount expended in the fiscal year to do so, and how 
        the efforts are assisting small business concerns (as defined 
        under section 3(a) of the Small Business Act); and
            ``(2) if the Bank has been unable to comply fully with such 
        subparagraphs--
                    ``(A) an analysis of the reasons therefor;
                    ``(B) a description of what the Bank is doing to 
                achieve, and the date by which the Banks expects to 
                have achieved, such full compliance; and
                    ``(C) the name of each Bank officer who is 
                responsible for ensuring that the Bank achieves, and 
                the name of the person to whom the Bank officer reports 
                on progress in achieving, such full compliance.''.
            (2) Report by the inspector general of the bank.--Within 
        120 days after the date of the enactment of this Act or, if 
        later, within 30 days after the date the vacancy in the 
        position of the Inspector General of the Export-Import Bank of 
        the United States is filled, the Inspector General of the 
        Export-Import Bank of the United States shall submit to the 
        Committee on Financial Services of the House of Representatives 
        and the Committee on Banking, Housing, and Urban Affairs of the 
        Senate--
                    (A) a report on the efforts made by the Bank to 
                carry out subparagraphs (E)(ix) and (J) of section 
                2(b)(1) of the Export-Import Bank Act of 1945, the 
                total amount expended to do so, and how the efforts are 
                assisting small business concerns (as defined under 
                section 3(a) of the Small Business Act); and
                    (B) if the Bank has been unable to comply with such 
                subparagraphs--
                            (i) an analysis of the reasons therefor;
                            (ii) a description of what the Bank is 
                        doing to achieve, and the date by which the 
                        Banks expects to have achieved, such 
                        compliance; and
                            (iii) the name of each Bank officer who is 
                        responsible for ensuring that the Bank 
                        achieves, and the name of the person to whom 
                        the Bank officer reports on progress in 
                        achieving, such compliance.
    (f) Public Disclosure of Certain Documents.--Section 11(a)(1) of 
the Export-Import Bank Act of 1945 (12 U.S.C. 635i-5(a)(1)) is amended 
by inserting after the 1st sentence the following: ``Such procedures 
shall require the public disclosure of documents in addition to 
environmental assessments, including environmental monitoring documents 
and supplementary environmental documents and consultants' reports that 
the Bank generates or requires clients to generate.''.

SEC. 9. EFFECT OF THE BANK ON THE BUDGET OF THE UNITED STATES.

    Within 90 days after the date of the enactment of this Act, the 
Export-Import Bank of the United States shall submit to the appropriate 
committees of the Congress a report on the revenues, expenditures, and 
resulting annual net income or expense to the United States for each of 
the 10 years most recently completed before the date of the report.

SEC. 10. COMPETITIVENESS INITIATIVES.

    (a) Expansion of Scope of Annual Competitiveness Report.--
            (1) Consolidation and reorganization of provisions.--The 
        Export-Import Bank Act of 1945 (12 U.S.C. 635--635i-9) is 
        amended by inserting after section 8 the following:

``SEC. 8A. ANNUAL COMPETITIVENESS REPORT.

    ``(a) In General.--Not later than June 30 of each year, the Bank 
shall submit to the appropriate committees of the Congress a report 
that includes the following:
            ``(1) Actions of bank in providing financing on a 
        competitive basis, and to minimize competition in government-
        supported export financing.--A description of the actions of 
        the Bank in complying with the 2nd and 3rd sentences of section 
        2(b)(1)(A). In this part of the report, the Bank shall include 
        a survey of all other major export-financing facilities 
        available from other governments and government-related 
        agencies through which foreign exporters compete with United 
        States exporters (including through use of market windows (as 
        defined in section 10(h)(7)) and indicate in specific terms the 
        ways in which the Bank's rates, terms, and other conditions 
        compare with those offered from such other governments directly 
        or indirectly. With respect to the preceding sentence, the Bank 
        shall use all available information to estimate the annual 
        amount of export financing available from each government and 
        government-related agency. In this part of the report, the Bank 
        shall include a survey of a representative number of United 
        States exporters and United States commercial lending 
        institutions which provide export credit to determine the 
        experience of the exporters and institutions in meeting 
        financial competition from other countries whose exporters 
        compete with United States exporters.
            ``(2) Role of bank in implementing strategic plan prepared 
        by the trade promotion coordinating committee.--A description 
        of the role of the Bank in implementing the strategic plan 
        prepared by the Trade Promotion Coordinating Committee in 
        accordance with section 2312 of the Export Enhancement Act of 
        1988.
            ``(3) Tied aid credit program and fund.--The report 
        required by section 10(g).
            ``(4) Purpose of all bank transactions.--A description of 
        all Bank transactions which shall be classified according to 
        their principal purpose, such as to correct a market failure or 
        to provide matching support.
            ``(5) Efforts of bank to promote export of goods and 
        services related to renewable energy sources.--A description of 
        the efforts undertaken under section 2(b)(1)(K).
            ``(6) Size of bank program account.--A separate section 
        which--
                    ``(A) compares the size of the Bank program account 
                with the size of the program accounts of the other 
                major export-financing facilities referred to in 
                paragraph (1); and
                    ``(B) makes recommendations with respect to the 
                relative size of the Bank program account, based on 
                factors including whether the size differences are in 
                the best interests of the United States taxpayer.
            ``(7) Co-financing programs of the bank and of other export 
        credit agencies.--A separate section which describes the co-
        financing programs of the Bank and of the other major export-
        financing facilities referred to in paragraph (1), which shall 
        include a list of which countries with which the United States 
        has in effect a memorandum of understanding relating to export 
        credit agency co-financing and an explanation of why such a 
        memorandum is not in effect with the countries with which such 
        a memorandum is not in effect.
            ``(8) After-market services support by the bank and by 
        other export credit agencies.--A separate section which 
        describes the participation of the Bank in providing funding, 
        guarantees, or insurance for after-market services, which shall 
        include appropriate information on the involvement of the other 
        major export-financing facilities referred to in paragraph (1) 
        in providing such support for after-market services, and an 
        explanation of any differences among the facilities in 
        providing the support.
            ``(9) Export finance cases not in compliance with the 
        arrangement.--Detailed information on cases of export finance 
        that are not in compliance with the Arrangement (as defined in 
        section 10(h)(3)) or that exploit loopholes in the Arrangement 
        for the purpose of obtaining a commercial competitive 
        advantage.
            ``(10) Foreign export credit agency activities not 
        consistent with the wto agreement on subsidies and 
        countervailing measures.--A description of the extent to which 
        the activities of foreign export credit agencies, particularly 
        those that are not members of the Arrangement (as defined in 
        section 10(h)(3)), are not in compliance with the Arrangement 
        and may not be consistent with the terms of the Agreement on 
        Subsidies and Countervailing Measures referred to in section 
        101(d)(12) of the Uruguay Round Agreements Act (19 U.S.C. 
        3511(d)(12)), and a description of the actions taken by the 
        United States Government to address the activities.
    ``(b) Board Vote on Report Required.--The Board of Directors shall 
vote to approve and shall sign each report required by subsection (a).
    ``(c) Inclusion of Dissenting Views, Etc.--Each report required by 
subsection (a) shall include such dissenting views and additional 
comments as any member of the Board of Directors may submit to the 
Board for inclusion in the report.''.
            (2) Conforming amendment.--Section 2(b)(1)(A) of such Act 
        (12 U.S.C. 635(b)(1)(A)) is amended by striking all that 
        follows the 3rd sentence.
    (b) Report on Involvement of the Bank and of Other Export Credit 
Agencies in Regional Multi-Buyer Insurance Programs and Working-Capital 
Guarantee Programs.--Section 8 of such Act (12 U.S.C. 635g), as amended 
by sections 4 and 5 of this Act, is amended by adding at the end the 
following:
    ``(i) Report on Involvement of the Bank and of Other Export Credit 
Agencies in Regional Multi-Buyer Insurance Programs and Working-Capital 
Guarantee Programs.--The Bank shall include in its annual report to the 
Congress under subsection (a) of this section a separate section that 
contains a report on--
            ``(1) regional multi-buyer insurance programs and working 
        capital guarantee programs operated by, through, or in 
        conjunction with the Bank, which shall include an analysis of 
        the effectiveness of the programs and of how effective the 
        programs would be in increasing export-related jobs in the 
        United States if the programs were larger;
            ``(2) the size of similar programs of all other major 
        export-financing facilities available from other governments 
        and government-related agencies through which foreign exporters 
        compete with United States exporters (including through use of 
        market windows (as defined in section 10(h)(7)); and
            ``(3) as a detailed explanation, with respect to the 
        programs, of the working relationship between the Bank and the 
        Small Business Administration, the Department of Commerce, and 
        other United States Government agencies concerned with 
        increasing the number of export-related jobs in the United 
        States.''.
    (c) Clarification of Use of Tied Aid Credit Fund to Match.--Section 
10 of the Export-Import Bank Act of 1945 (12 U.S.C. 635i-3) is 
amended--
            (1) in subsection (a)--
                    (A) in paragraph (5)--
                            (i) in the matter preceding subparagraph 
                        (A), by striking ``two'' and inserting ``3'';
                            (ii) in subparagraph (A)(iv), by striking 
                        ``and''; and
                            (iii) by adding at the end the following:
                    ``(C) third, the Bank should support United States 
                exporters when the exporters face foreign competition 
                that is supported by foreign export credit agencies 
                that are not party to the Arrangement; and''; and
                    (B) in paragraph (6)--
                            (i) in the matter preceding subparagraph 
                        (A), by inserting ``including those that are 
                        not a party to the Arrangement'' after 
                        ``countries'';
                            (ii) in subparagraph (B), by striking the 
                        period and inserting ``; and''; and
                            (iii) by adding at the end the following:
                    ``(C) promoting compliance with Arrangement rules 
                among foreign export credit agencies that are not a 
                party to the Arrangement.''; and
            (2) in subsection (b)--
                    (A) in paragraph (2)(A), by striking ``in 
                consultation with the Secretary and''; and
                    (B) in paragraph (5)--
                            (i) in subparagraph (A), by striking 
                        ``Secretary and the Bank jointly'' and 
                        inserting ``Bank'';
                            (ii) in subparagraph (B)--
                                    (I) in clause (i)--
                                            (aa) in the matter 
                                        preceding subclause (I), by 
                                        striking ``Secretary and the'';
                                            (bb) in subclause (I), by 
                                        inserting ``, and to bring into 
                                        the Arrangement those countries 
                                        that are not a party to the 
                                        Arrangement''; and
                                            (cc) in subclause (III), by 
                                        adding at the end the following 
                                        ``In cases where information 
                                        about a specific offer of 
                                        foreign tied aid (or untied aid 
                                        used to promote exports as if 
                                        it were tied aid) is not 
                                        available in a timely manner, 
                                        or is unavailable because the 
                                        foreign export credit agency 
                                        involved is not subject to the 
                                        reporting requirements under 
                                        the Arrangement, then the Bank 
                                        may decide to use the Tied Aid 
                                        Credit Fund based on credible 
                                        evidence of a history of such 
                                        offers under similar 
                                        circumstances or other forms of 
                                        credible evidence.''; and
                                    (II) in clause (ii), by adding at 
                                the end the following: ``The President 
                                of the United States shall notify the 
                                Congress of such a determination within 
                                30 days, including an explanation for 
                                the determination.'';
                            (iii) in subparagraph (C), by striking 
                        ``the Secretary and''; and
                            (iv) in subparagraph (E), by striking 
                        ``Secretary and the Bank jointly'' and 
                        inserting ``Bank''.
    (d) Expansion of Countries in Competition With Whom the Bank Is to 
Provide Export Financing.--Section 2(b)(1)(A) of such Act (12 U.S.C. 
635(b)(1)(A)) is amended in the 2nd sentence by inserting ``, including 
countries the governments of which are not members of the Arrangement 
(as defined in section 10(h)(3))'' before the period.
    (e) Authority to Seek Use of Mixed Forms of Concessional 
Financing.--Section 10 of such Act (12 U.S.C. 635i-3) is amended by 
adding at the end the following:
    ``(i) Authority to Seek Use of Mixed Forms of Concessional 
Financing.--For purposes of improving the effects of Bank financing on 
development in tied aid eligible markets (as defined under the 
Arrangement) and of improving the competitiveness of the Bank in the 
markets, the Bank shall, in consultation with United States government 
aid agencies and, as appropriate, multilateral aid institutions, seek 
to establish, consistent with the Arrangement, a mixed credit program 
consisting of longer term financing and other forms of more flexible 
repayment terms, financing of transactions in local currencies, and 
other forms of concessional financing that meets the needs of the 
product sector and foreign market involved.''.
    (f) Instructions Regarding Negotiation of the OECD Arrangement.--
The Secretary of the Treasury shall instruct the designee of the 
Secretary to the negotiation of the Arrangement (as defined in section 
10(h)(3) of the Export-Import Bank Act of 1945) to inform the other 
participants in the negotiation that the goals of the United States 
include the following:
            (1) Seeking compliance with the Arrangement among countries 
        with significant export credit programs who are not members of 
        the Arrangement.
            (2) Seeking to identify within the World Trade Organization 
        the extent to which countries that are not a party to the 
        Arrangement are not in compliance with the terms of the 
        Agreement on Subsidies and Countervailing Measures referred to 
        in section 101(d)(12) of the Uruguay Round Agreements Act (19 
        U.S.C. 3511(d)(12)) in regards to export finance, and seeking 
        appropriate action within the World Trade Organization if such 
        a country is not in such compliance.
            (3) Implementing new disciplines on the use of untied aid, 
        market windows, and other forms of export finance that seek to 
        exploit loopholes in the Arrangement for purposes of obtaining 
        a commercial competitive advantage.

SEC. 11. CONSIDERATION OF ENVIRONMENTAL MATTERS BY THE ADVISORY 
              COMMITTEE.

    Section 3(d) of the Export-Import Bank Act of 1945 (12 U.S.C. 
635a(d)) is amended--
            (1) in paragraph (1)--
                    (A) in subparagraph (A), by striking ``15'' and 
                inserting ``17''; and
                    (B) in subparagraph (B), by inserting 
                ``environment,'' before ``production,''; and
            (2) in paragraph (2), by adding at the end the following:
    ``(C) Not less than 2 members appointed to the Advisory Committee 
shall be representative of the environmental nongovernmental 
organization community, except that no 2 of the members shall be from 
the same environmental organization. Environmental organizations 
represented shall have demonstrated experience with environmental 
issues associated with the Bank, the Export Credit Group of the 
Organization for Economic Cooperation and Development, or both.''.

SEC. 12. TECHNICAL CORRECTIONS.

    Section 2(b)(2)(B)(ii) of the Export-Import Bank Act of 1945 (12 
U.S.C. 635(b)(2)(B)(ii)) is amended by striking subclauses (I), (III), 
(VII), (VIII), and (IX), and redesignating subclauses (II), (IV), (V), 
and (VI) as subclauses (I) through (IV), respectively.

SEC. 13. EFFECTIVE DATE.

    The amendments made by this Act shall take effect on October 1, 
2006.
                                 <all>
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