I 

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. VELA ́ZQUEZ) 

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. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

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

5 Reauthorization Act of 2006’’. 

6 SEC. 2. TABLE OF CONTENTS. 

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

Sec. 1. Short title. 

Sec. 2. Table of contents. 

Sec. 3. Reauthorization. 


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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. 

1 SEC. 3. REAUTHORIZATION. 

2 Section 7 of the Export-Import Bank Act of 1945 

3 (12 U.S.C. 635f) is amended by striking ‘‘2006’’ and in4 serting ‘‘2011’’. 

5 SEC. 4. INCREASING EXPORTS BY SMALL BUSINESSES. 

6 (a) ESTABLISHMENT OF SMALL BUSINESS DIVI7 SION.— 

8 (1) IN GENERAL.—Section 3 of the Export-Im9 port Bank Act of 1945 (12 U.S.C. 635a) is amended 

10 by adding at the end the following: 

11 ‘‘(f) SMALL BUSINESS DIVISION.— 

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

13 Bank shall establish and maintain a division of the 

14 Bank whose sole functions shall be to— 

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

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

17 to outreach, feedback, product improvement, 

18 and transaction advocacy for small business 

19 concerns; 


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

2 business concerns of the opportunities and ben3 efits for small business concerns in the financ4 ing products offered by the Bank, with par5 ticular emphasis on conducting outreach, better 

6 tailoring products to small business needs and 

7 increasing loans to small business concerns em8 ploying fewer than 100 employees; and 

9 ‘‘(C) maintain liaison with the Small Busi10 ness Administration and other departments and 

11 agencies in matters affecting small business 

12 concerns. 

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

14 managed by a Bank officer designated by the Board 

15 of Directors— 

16 ‘‘(A) who shall have substantial recent ex17 perience in financing exports by small business 

18 concerns; 

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

20 ensure that the division carries out the func21 tions of the division; 

22 ‘‘(C) who shall advise the Board, particu23 larly the Director appointed under section 

24 3(c)(8)(B) to represent the interests of small 


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1 business, on matters of interest to, and concern 

2 for, small business; 

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

4 vice president of the Bank; and 

5 ‘‘(E) who shall report directly to the Presi6 dent of the Bank. 

7 ‘‘(3) RESOURCES.— 

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

9 Bank shall ensure that the division has suffi10 cient qualified staff and budgetary resources to 

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

12 2(b)(1), as determined annually by the Presi13 dent of the Bank, after consultation with— 

14 ‘‘(i) the officer referred to in para15 graph (2) of this subsection; 

16 ‘‘(ii) the Director appointed under 

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

18 ‘‘(iii) the Committee on Financial 

19 Services of the House of Representatives; 

20 and 

21 ‘‘(iv) the Committee on Banking, 

22 Housing, and Urban Affairs of the Senate. 

23 ‘‘(B) USES.— 

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

25 the Bank shall ensure that the staff and 


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1 budgetary resources of the division are de2 voted solely to carrying out the functions 

3 of the division. 

4 ‘‘(ii) CERTAIN STAFF DUTIES.—The 

5 division shall include staff dedicated exclu6 sively to providing outreach, training, and 

7 advice to, seeking feedback from, and ad8 vocating on behalf of small business con9 cerns regarding Bank financing opportuni10 ties, products, and programs. 

11 ‘‘(C) RULE OF INTERPRETATION.—Noth12 ing in this Act shall be construed to prevent the 

13 delegation to the division of any authority nec14 essary to carry out subparagraphs (E) and (I) 

15 of section 2(b)(1). 

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

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

18 ‘small business concern’ shall have the meaning es19 tablished under section 3(a) of the Small Business 

20 Act. 

21 ‘‘(g) HANDLING OF APPLICATIONS OF, AND PROC22 ESSING OF TRANSACTIONS INVOLVING SMALL BUSINESS

23 CONCERNS.—Consistent with the requirement that the 

24 Bank obtain a reasonable assurance of repayment for each 

25 transaction the Bank supports, the Bank shall establish 


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1 and maintain transaction standards tailored to the special 

2 circumstances of small business concerns and shall use the 

3 standards in evaluating applications by the concerns for 

4 Bank financing. The Bank shall ensure that each appro5 priate division of the Bank has staff dedicated to the proc6 essing of transactions involving small business concerns. 

7 ‘‘(h) SMALL BUSINESS COMMITTEE.— 

8 ‘‘(1) ESTABLISHMENT.—The Bank shall estab9 lish and maintain a committee to be known as the 

10 ‘Small Business Committee’. 

11 ‘‘(2) PRINCIPAL PURPOSE.—The principal pur12 pose of the Small Business Committee shall be to 

13 focus on small business concerns and coordinate the 

14 efforts of the Bank with respect to small business 

15 concerns, including the timely processing of small 

16 business product applications and the evolution of 

17 new or improved Bank products to better serve small 

18 business needs. 

19 ‘‘(3) COMPOSITION.— 

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

21 Small Business Committee shall be the Senior 

22 Vice President of the Bank who is responsible 

23 for management of the Small Business Division 

24 of the Bank. 


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

2 the Bank shall ensure that the committee is 

3 comprised of officers and employees throughout 

4 the Bank that have responsibility for outreach 

5 and processing transactions involving small 

6 business concerns. 

7 ‘‘(4) REPORTS.—The Small Business Com8 mittee shall report to the President of the Bank.’’. 

9 (2) COORDINATION IN FINANCING OF SMALL

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

11 such Act (12 U.S.C. 635(b)(1)(E)(vii)(I)) is amend12 ed by adding at the end the following: ‘‘The Bank 

13 shall work in coordination with the entities described 

14 in the preceding sentence to streamline the proc15 essing of applications for Bank financing from small 

16 business concerns and to provide training and advice 

17 as required on the needs and benefits of export fi18 nancing for small business concerns.’’ 

19 (b) REPORT ON FEES CHARGED TO, AND TRANS20 ACTIONS COSTS INCURRED BY, SMALL AND MEDIUM

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

22 (12 U.S.C. 635g) is amended by adding at the end the 

23 following: 

24 ‘‘(f) REPORT ON FEES CHARGED TO, AND TRANS25 ACTIONS COSTS INCURRED BY, SMALL AND MEDIUM


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1 BUSINESS FOR BANK SERVICES.—The Bank shall submit 

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

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

4 of this section, a report on— 

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

6 the interest and fees charged by the Bank to export7 ers (including a description of fees and interest, if 

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

9 and other applicants in connection with each financ10 ing program of the Bank, and the highest, lowest, 

11 and average fees charged by the Bank for short 

12 term insurance transactions; 

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

14 Bank to achieve the objectives of the Bank relating 

15 to small business; and 

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

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

18 (c) REPORT ON FINANCING DIRECTED TOWARD

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

20 635g), as amended by subsection (b) of this section, is 

21 amended by adding at the end the following: 

22 ‘‘(g) REPORT ON FINANCING DIRECTED TOWARD

23 SMALL BUSINESS.—The Bank shall submit annually to 

24 the Committees on Financial Services and on Small Busi25 ness of the House of Representatives— 


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

2 has been able to use the authorities referred to in 

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

4 has been unable to fully do so, a report on the obsta5 cles to doing so and on what the Bank is doing to 

6 overcome the obstacles; 

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

8 has been made available to small business concerns 

9 to enable them to participate in exports by major 

10 contractor, including through access to the supply 

11 chains of the contractors through direct or indirect 

12 funding; and 

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

14 in the upcoming year, the Bank will take specific 

15 measures to achieve the small business objectives of 

16 the Bank, including expanded outreach, product im17 provements, and related actions.’’. 

18 (d) CONFORMING AMENDMENTS.— 

19 (1) IN GENERAL.— 

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

21 U.S.C. 635(b)(1)(E)), as amended by sub22 section (a)(2) of this section, is amended— 

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

24 fair consideration to making loans and proVerDate Aug 31 2005 18:43 Apr 04, 2006 Jkt 049196 PO 00000 Frm 00009 Fmt 6652 Sfmt 6201 E:\BILLS\H5068.IH H5068

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1 viding’’ and inserting ‘‘make loans and 

2 provide’’; 

3 (ii) by striking clause (iii); 

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

5 (ii) and (iii) of this subparagraph’’ and in6 serting ‘‘clause (ii)’’; 

7 (iv) in clause (vi)— 

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

9 subparagraph’’ and insert ‘‘clause 

10 (iv)’’; and 

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

12 inserting ‘‘clause’’; 

13 (v) in clause (vii)— 

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

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

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

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

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

19 (vi) by redesignating clauses (iv) 

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

21 respectively. 

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

23 635g) is amended— 


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

2 ‘‘2(b)(1)(E)(vii)’’ and inserting 

3 ‘‘2(b)(1)(E)(vi)’’; and 

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

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

6 (2) UNIFORM MEANING OF SMALL BUSINESS.— 

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

8 635(b)(1)(E)), as amended by subsection (a)(2) of 

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

10 amended— 

11 (A) in clause (i)(II), by striking ‘‘busi12 nesses’’ and inserting ‘‘business concerns’’; 

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

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

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

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

17 appears and inserting ‘‘exports by small busi18 ness concerns’’; and 

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

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

21 concern’ shall have the meaning established under section 

22 3(a) of the Small Business Act.’’. 

23 (e) ENHANCE DELEGATED LOAN AUTHORITY FOR

24 MEDIUM TERM TRANSACTIONS.— 


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

2 the United States shall seek to expand the exercise 

3 of authority under section 2(b)(1)(E)(vi) of the Ex4 port-Import Bank Act of 1945 (as so redesignated 

5 by subsection (d)(1)(A)(vi) of this section) with re6 spect to medium term transactions for small busi7 ness concerns (as defined under section 3(a) of the 

8 Small Business Act). 

9 (2) CONFORMING AMENDMENT.—Section 

10 2(b)(1)(E)(vi)(III) of the Export-Import Bank Act 

11 of 1945 (12 U.S.C. 635(b)(1)(E)(vi)(III)), as so re12 designated by subsection (d)(1)(A)(vi) of this sec13 tion, is amended by striking ‘‘To the maximum ex14 tent practicable, the’’ and inserting ‘‘The’’. 

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

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

17 Bank of the United States shall make available lines 

18 of credit and guarantees to carry out section 

19 2(b)(1)(E)(vi) of the Export-Import Bank Act of 

20 1945 (as so redesignated by subsection (d)(1)(A)(vi) 

21 of this section), pursuant to policies and procedures 

22 established by the Board of Directors of the Export23 Import Bank of the United States. 


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1 SEC. 5. OFFICE OF FINANCING FOR SOCIALLY AND ECO2 NOMICALLY DISADVANTAGED SMALL BUSI3 NESS CONCERNS AND SMALL BUSINESS CON4 CERNS OWNED BY WOMEN. 

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

6 Bank Act of 1945 (12 U.S.C. 635a(f)), as added by sec7 tion 4(a) of this Act, is amended by redesignating para8 graph (4) as paragraph (5) and by inserting after para9 graph (3) the following: 

10 ‘‘(4) OFFICE OF FINANCING FOR SOCIALLY AND

11 ECONOMICALLY DISADVANTAGED SMALL BUSINESS

12 CONCERNS AND SMALL BUSINESS CONCERNS OWNED

13 BY WOMEN.— 

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

15 the Bank shall establish in the division an office 

16 whose sole functions shall be to continue and 

17 enhance the outreach activities of the Bank 

18 with respect to, and increase the total amount 

19 of loans, guarantees, and insurance provided by 

20 the Bank to support exports by, socially and 

21 economically disadvantaged small business con22 cerns (as defined in section 8(a)(4) of the Small 

23 Business Act) and small business concerns 

24 owned by women. 

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

26 managed by a Bank officer of appropriate rank 


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1 who shall report to the Bank officer designated 

2 under section 3(f)(2).’’. 

3 (b) FINANCING DIRECTED TOWARD SMALL BUSI4 NESSES OWNED BY MINORITIES OR WOMEN.—Section 

5 2(b)(1)(E)(iv) of such Act (12 U.S.C. 635(b)(1)(E)(iv)), 

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

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

8 the amount made available under the preceding sentence, 

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

10 than 10 percent of the amount to finance exports directly 

11 by small business concerns referred to in section 

12 3(f)(4)(A).’’. 

13 (c) REPORT ON FINANCING DIRECTED TOWARD

14 SMALL BUSINESSES OWNED BY MINORITIES OR

15 WOMEN.—Section 8(g) of such Act (12 U.S.C. 635g(g)), 

16 as added by section 4(c) of this Act, is amended by insert17 ing ‘‘and to finance exports by small business concerns 

18 referred to in section 3(f)(4)(A),’’ before ‘‘and to the ex19 tent’’. 

20 (d) REPORT ON BANK EFFORTS TO SUPPORT EX21 PORTS BY SOCIALLY AND ECONOMICALLY DISADVAN22 TAGED SMALL BUSINESS CONCERNS AND SMALL BUSI23 NESS CONCERNS OWNED BY WOMEN.—Section 8 of such 

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

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


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

2 SMALL- AND MEDIUM-SIZED BUSINESSES OWNED BY

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

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

5 this Act shall prepare and submit to the Committee on 

6 Financial Services of the House of Representatives and 

7 the Committee on Banking, Housing, and Urban Affairs 

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

9 section of the annual report submitted pursuant to sub10 section (a) of this section, a written report that describes 

11 the progress made by the Bank in supporting exports by 

12 socially and economically disadvantaged small business 

13 concerns (as defined in section 8(a)(4) of the Small Busi14 ness Act) and small business concerns owned by women.’’. 

15 SEC. 6. SUB-SAHARAN AFRICA. 

16 (a) EXTENSION OF ADVISORY COMMITTEE.—Section 

17 2(b)(9)(B)(iii) of the Export-Import Bank Act of 1945 

18 (12 U.S.C. 635(b)(9)(B)(iii)) is amended by striking 

19 ‘‘2006’’ and inserting ‘‘2011’’. 

20 (b) IMPROVED LIAISON WITH AFRICAN REGIONAL

21 FINANCIAL INSTITUTIONS.— 

22 (1) MASTER GUARANTEE AGREEMENTS.—With23 in 1 year after the date of the enactment of this Act, 

24 the Export-Import Bank of the United States shall 

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1 tween each approved lender in Africa and the Bank, 

2 which sets forth the Bank’s guarantee undertakings 

3 and related obligations between the Bank and the 

4 lender. 

5 (2) REPORT ON WORKING RELATIONSHIPS

6 WITH THE AFRICAN DEVELOPMENT BANK, THE AF7 RICA EXPORT-IMPORT BANK, AND OTHER INSTITU8 TIONS.—Section 2(b)(9) of such Act (12 U.S.C. 

9 635(b)(9)) is amended by adding at the end the fol10 lowing: 

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

12 the Congress submitted under section 8(a) a separate sec13 tion that contains a report on the efforts of the Bank to 

14 improve working relationships with the African Develop15 ment Bank, the Africa Export-Import Bank, and other in16 stitutions in the region that are relevant to the purposes 

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

18 (c) CLOSER COOPERATION WITH OTHER UNITED

19 STATES AGENCIES WORKING IN AFRICA.—Section 

20 2(b)(9) of such Act (12 U.S.C. 635(b)(9)) is further 

21 amended by adding at the end the following: 

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

23 United States Foreign Commercial Service and with the 

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1 nomic engagement with Africa pursuant to the African 

2 Growth and Opportunity Act. 

3 ‘‘(E) The Bank shall develop initiatives to train For4 eign Service and Commercial Service officers serving at 

5 United State embassies in Africa, in the use of Bank pro6 grams, so the officers can encourage African buyers to 

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

8 (d) ADJUSTMENTS TO PROCEDURES TO PROMOTE

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

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

11 adding at the end the following: 

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

13 obtain a reasonable assurance of repayment in connection 

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

15 in consultation with the entities described in subparagraph 

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

17 of the Bank for the purpose of qualifying a greater num18 ber of appropriate African entities for participation in pro19 grams of the Bank.’’. 

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

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

22 adding at the end the following: 

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

24 the Bank is capable of financing certain African programs 

25 in local currencies.’’. 


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1 SEC. 7. EXTENSION OF AUTHORITY. 

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

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

4 ‘‘2011’’. 

5 SEC. 8. TRANSPARENCY INITIATIVES. 

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

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

8 amended by adding at the end the following: 

9 ‘‘(9) The Board of Directors shall meet not less fre10 quently than biweekly.’’. 

11 (b) VOTING REQUIRED IN CASES INVOLVING ECO12 NOMIC IMPACT ANALYSIS.—Section 2(e) of such Act (12 

13 U.S.C. 635(e)) is amended by adding at the end the fol14 lowing: 

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

16 after completing a review, pursuant to this sub17 section, of a proposed loan or guarantee (including 

18 any applicable comment period), the Board of Direc19 tors shall hold a vote to determine whether or not 

20 to proceed with the proposed loan or guarantee, un21 less the applicant has withdrawn the application for 

22 the loan or guarantee.’’. 

23 (c) PROCESS FOR NOTIFYING APPLICANTS OF APPLI24 CATION STATUS.—Section 2 of such Act (12 U.S.C. 635) 

25 is amended by adding at the end the following: 


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1 ‘‘(g) PROCESS FOR NOTIFYING APPLICANTS OF AP2 PLICATION STATUS.—The Bank shall establish and ad3 here to a clearly defined process for— 

4 ‘‘(1) acknowledging receipt of applications; 

5 ‘‘(2) informing applicants that their applica6 tions are complete or, if incomplete or containing a 

7 minor defect, of the additional material or changes 

8 that, if supplied or made, would make the applica9 tion eligible for consideration; and 

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

11 of their applications, including a clear and timely no12 tification of approval or disapproval, and, in the case 

13 of disapproval, the reason for disapproval, as appro14 priate.’’. 

15 (d) RESPONSE TO APPLICATION FOR FINANCING; IM16 PLEMENTATION OF ON-LINE LOAN REQUEST AND TRACK17 ING PROCESS.—Section 2 of such Act (12 U.S.C. 635) 

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

19 ‘‘(h) Within 45 days after receipt of an application 

20 for financing from the Bank, the Bank shall notify the 

21 applicant that the application has been received, and shall 

22 include in the notice a request for such additional informa23 tion as may be necessary to make the application com24 plete, the name of a Bank employee who may be contacted 

25 with questions relating to the application, and a unique 


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1 identification number which may be used to review the sta2 tus of the application at a website established as provided 

3 in the next sentence. Not later than September 1, 2006, 

4 the Bank shall use the authorities provided by subpara5 graphs (E)(ix) and (J) of subsection (b)(1) of this section 

6 to establish, and thereafter to maintain, a website through 

7 which any Bank product may be applied for, information 

8 may be obtained about the status of any such application, 

9 about the small business division of the Bank, or about 

10 incentives, preferences, targets, and goals relating to small 

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

12 business concerns exporting to Africa.’’. 

13 (e) REPORTS RELATING TO TECHNOLOGY TO ASSIST

14 SMALL BUSINESSES.— 

15 (1) REPORTS BY THE BANK.— 

16 (A) INITIAL REPORT.—Within 60 days 

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

18 President of the Export-Import Bank of the 

19 United States shall submit to the Committee on 

20 Financial Services of the House of Representa21 tives and the Committee on Banking, Housing, 

22 and Urban Affairs of the Senate a report on— 

23 (i) the efforts made by the Bank to 

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

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


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1 Act of 1945, including the total amount 

2 expended by the Bank to do so; and 

3 (ii) if the Bank has been unable to 

4 comply with such subparagraphs— 

5 (I) an analysis of the reasons 

6 therefor; 

7 (II) what the Bank is doing to 

8 achieve, and the date by which the 

9 Banks expects to have achieved, such 

10 compliance; and 

11 (III) the name of each Bank offi12 cer who is responsible for ensuring 

13 that the Bank achieves, and the name 

14 of the person to whom the Bank offi15 cer reports on progress in achieving, 

16 such compliance. 

17 (B) SUBSEQUENT ANNUAL REPORTS.— 

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

19 1945 (12 U.S.C. 635g(c)) is amended to read 

20 as follows: 

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

22 The Bank shall include in its annual report to the Con23 gress under subsection (a) of this section for each of fiscal 

24 years 2007 through 2011 a separate section that con25 tains— 


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

2 to carry out subparagraphs (E)(ix) and (J) of sec3 tion 2(b)(1) of this Act, the total amount expended 

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

5 assisting small business concerns (as defined under 

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

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

8 fully with such subparagraphs— 

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

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

11 doing to achieve, and the date by which the 

12 Banks expects to have achieved, such full com13 pliance; and 

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

15 responsible for ensuring that the Bank achieves, 

16 and the name of the person to whom the Bank 

17 officer reports on progress in achieving, such 

18 full compliance.’’. 

19 (2) REPORT BY THE INSPECTOR GENERAL OF

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

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

22 after the date the vacancy in the position of the In23 spector General of the Export-Import Bank of the 

24 United States is filled, the Inspector General of the 

25 Export-Import Bank of the United States shall subVerDate Aug 31 2005 18:43 Apr 04, 2006 Jkt 049196 PO 00000 Frm 00022 Fmt 6652 Sfmt 6201 E:\BILLS\H5068.IH H5068

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1 mit to the Committee on Financial Services of the 

2 House of Representatives and the Committee on 

3 Banking, Housing, and Urban Affairs of the Sen4 ate— 

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

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

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

8 Bank Act of 1945, the total amount expended 

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

10 business concerns (as defined under section 

11 3(a) of the Small Business Act); and 

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

13 with such subparagraphs— 

14 (i) an analysis of the reasons therefor; 

15 (ii) a description of what the Bank is 

16 doing to achieve, and the date by which the 

17 Banks expects to have achieved, such com18 pliance; and 

19 (iii) the name of each Bank officer 

20 who is responsible for ensuring that the 

21 Bank achieves, and the name of the person 

22 to whom the Bank officer reports on 

23 progress in achieving, such compliance. 

24 (f) PUBLIC DISCLOSURE OF CERTAIN DOCU25 MENTS.—Section 11(a)(1) of the Export-Import Bank Act 


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

2 after the 1st sentence the following: ‘‘Such procedures 

3 shall require the public disclosure of documents in addition 

4 to environmental assessments, including environmental 

5 monitoring documents and supplementary environmental 

6 documents and consultants’ reports that the Bank gen7 erates or requires clients to generate.’’. 

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

9 UNITED STATES. 

10 Within 90 days after the date of the enactment of 

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

12 shall submit to the appropriate committees of the Con13 gress a report on the revenues, expenditures, and resulting 

14 annual net income or expense to the United States for 

15 each of the 10 years most recently completed before the 

16 date of the report. 

17 SEC. 10. COMPETITIVENESS INITIATIVES. 

18 (a) EXPANSION OF SCOPE OF ANNUAL COMPETI19 TIVENESS REPORT.— 

20 (1) CONSOLIDATION AND REORGANIZATION OF

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

22 (12 U.S.C. 635—635i–9) is amended by inserting 

23 after section 8 the following: 


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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 government and government-related agen24 cy. In this part of the report, the Bank shall include 

25 a survey of a representative number of United 

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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— 


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•HR 5068 IH 

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 


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•HR 5068 IH 

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, particularly 

19 those that are not members of the Arrangement (as 

20 defined in section 10(h)(3)), are not in compliance 

21 with the Arrangement and may not be consistent 

22 with the terms of the Agreement on Subsidies and 

23 Countervailing Measures referred to in section 

24 101(d)(12) of the Uruguay Round Agreements Act 

25 (19 U.S.C. 3511(d)(12)), and a description of the 


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•HR 5068 IH 

1 actions taken by the United States Government to 

2 address the activities. 

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

4 Board of Directors shall vote to approve and shall sign 

5 each report required by subsection (a). 

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

7 report required by subsection (a) shall include such dis8 senting views and additional comments as any member of 

9 the Board of Directors may submit to the Board for inclu10 sion in the report.’’. 

11 (2) CONFORMING AMENDMENT.—Section 

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

13 amended by striking all that follows the 3rd sen14 tence. 

15 (b) REPORT ON INVOLVEMENT OF THE BANK AND

16 OF OTHER EXPORT CREDIT AGENCIES IN REGIONAL

17 MULTI-BUYER INSURANCE PROGRAMS AND WORKING18 CAPITAL GUARANTEE PROGRAMS.—Section 8 of such Act 

19 (12 U.S.C. 635g), as amended by sections 4 and 5 of this 

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

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

22 OF OTHER EXPORT CREDIT AGENCIES IN REGIONAL

23 MULTI-BUYER INSURANCE PROGRAMS AND WORKING24 CAPITAL GUARANTEE PROGRAMS.—The Bank shall in25 clude in its annual report to the Congress under subVerDate Aug 31 2005 18:43 Apr 04, 2006 Jkt 049196 PO 00000 Frm 00029 Fmt 6652 Sfmt 6201 E:\BILLS\H5068.IH H5068

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1 section (a) of this section a separate section that contains 

2 a report on— 

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

4 and working capital guarantee programs operated 

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

6 shall include an analysis of the effectiveness of the 

7 programs and of how effective the programs would 

8 be in increasing export-related jobs in the United 

9 States if the programs were larger; 

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

11 major export-financing facilities available from other 

12 governments and government-related agencies 

13 through which foreign exporters compete with 

14 United States exporters (including through use of 

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

16 and 

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

18 the programs, of the working relationship between 

19 the Bank and the Small Business Administration, 

20 the Department of Commerce, and other United 

21 States Government agencies concerned with increas22 ing the number of export-related jobs in the United 

23 States.’’. 


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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 that are not party to the 

17 Arrangement; and’’; and 

18 (B) in paragraph (6)— 

19 (i) in the matter preceding subpara20 graph (A), by inserting ‘‘including those 

21 that are not a party to the Arrangement’’ 

22 after ‘‘countries’’; 

23 (ii) in subparagraph (B), by striking 

24 the period and inserting ‘‘; and’’; and 


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•HR 5068 IH 

1 (iii) by adding at the end the fol2 lowing: 

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’’; and 

23 (cc) in subclause (III), by 

24 adding at the end the following 

25 ‘‘In cases where information 


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•HR 5068 IH 

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’’. 


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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.’’. 


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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. 


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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. TECHNICAL CORRECTIONS. 

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

23 of 1945 (12 U.S.C. 635(b)(2)(B)(ii)) is amended by strik24 ing subclauses (I), (III), (VII), (VIII), and (IX), and re25 designating subclauses (II), (IV), (V), and (VI) as sub26 clauses (I) through (IV), respectively. 


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1 SEC. 13. EFFECTIVE DATE. 

2 The amendments made by this Act shall take effect 

3 on October 1, 2006. 

Æ 


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