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[Congressional Bills 109th Congress]
[From the U.S. Government Publishing Office]
[S. 3938 Engrossed Amendment House (EAH)]

                In the House of Representatives, U. S.,

                                                      December 6, 2006.

    Resolved, That the bill from the Senate (S. 3938) entitled ``An Act to 
reauthorize the Export-Import Bank of the United States.'', do pass with the 
following

                               AMENDMENT:

            Strike out all after the enacting clause and insert:

SECTION 1. SHORT TITLE; TABLE OF CONTENTS.

    (a) Short Title.--This Act may be cited as the ``Export-Import Bank 
Reauthorization Act of 2006''.
    (b) Table of Contents.--

Sec. 1. Short title; table of contents.
Sec. 2. Extension of authority.
Sec. 3. Sub-Saharan Africa Advisory Committee.
Sec. 4. Extension of authority to provide financing for the export of 
                            nonlethal defense articles or services the 
                            primary end use of which will be for 
                            civilian purposes.
Sec. 5. Designation of sensitive commercial sectors and products.
Sec. 6. Increasing exports by small business.
Sec. 7. Anti-circumvention.
Sec. 8. Transparency.
Sec. 9. Aggregate loan, guarantee, and insurance authority.
Sec. 10. Tied aid credit program.
Sec. 11. Prohibition on assistance to develop or promote certain 
                            railway connections and railway-related 
                            connections.
Sec. 12. Process for notifying applicants of application status; 
                            implementation of Ex-Im Online.
Sec. 13. Competitiveness initiatives.
Sec. 14. Office of financing for socially and economically 
                            disadvantaged small business concerns and 
                            small business concerns owned by women.
Sec. 15. Governance.
Sec. 16. Sense of Congress regarding multi-buyer insurance and capital 
                            guarantee programs.
Sec. 17. Sense of Congress regarding office of renewable energy 
                            promotion.
Sec. 18. Environmental matters.
Sec. 19. Government Accountability Office study of bank performance 
                            standards for assistance to small 
                            businesses, especially those owned by 
                            social and economically disadvantaged 
                            individuals and those owned by women.
Sec. 20. Reports.
Sec. 21. Study of how Export-Import Bank could assist United States 
                            exporters to meet import needs of new or 
                            impoverished democracies; report.

SEC. 2. EXTENSION OF AUTHORITY.

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

SEC. 3. SUB-SAHARAN AFRICA ADVISORY COMMITTEE.

    (a) Extension of Authority.--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 each lender.
            (2) Report on working relationships with the african 
        development bank, the african 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--
            ``(i) improve its working relationships with the African 
        Development Bank, the African Export-Import Bank, and other 
        institutions in the region that are relevant to the purposes of 
        subparagraph (A) of this paragraph; and
            ``(ii) coordinate closely with the United States Foreign 
        Service and 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.''.
    (c) Increasing the Number of Qualified African Entities.--Section 
2(b)(9) of such Act (12 U.S.C. 635(b)(9)), as amended by subsection 
(b), is amended by adding at the end the following:
    ``(D) 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 to qualify a greater number of 
appropriate African entities for participation in programs of the 
Bank.''.

SEC. 4. EXTENSION OF AUTHORITY TO PROVIDE FINANCING FOR THE EXPORT OF 
              NONLETHAL DEFENSE ARTICLES OR SERVICES THE PRIMARY END 
              USE OF WHICH WILL BE FOR CIVILIAN PURPOSES.

    Section 1(c) of Public Law 103-428 (12 U.S.C. 635 note; 108 Stat. 
4376) is amended by striking ``2001'' and inserting ``2011''.

SEC. 5. DESIGNATION OF SENSITIVE COMMERCIAL SECTORS AND PRODUCTS.

    Section 2(e) of the Export-Import Bank Act of 1945 (12 U.S.C. 
635(e)) is amended by adding at the end the following new paragraph:
            ``(5) Designation of sensitive commercial sectors and 
        products.--Not later than 120 days after the date of the 
        enactment of this Act, the Bank shall submit a list to the 
        Committee on Banking, Housing, and Urban Affairs of the Senate 
        and the Committee on Financial Services of the House of 
        Representatives, which designates sensitive commercial sectors 
        and products with respect to which the provision of financing 
        support by the Bank is deemed unlikely by the President of the 
        Bank due to the significant potential for a determination that 
        such financing support would result in an adverse economic 
        impact on the United States. The President of the Bank shall 
        review on an annual basis thereafter the list of sensitive 
        commercial sectors and products and the Bank shall submit an 
        updated list to the Committee on Banking, Housing, and Urban 
        Affairs of the Senate and the Committee on Financial Services 
        of the House of Representatives of such sectors and 
        products.''.

SEC. 6. INCREASING EXPORTS BY SMALL BUSINESS.

    (a) 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.--There is established a Small Business 
        Division (in this subsection referred to as the `Division') 
        within the Bank in order to--
                    ``(A) carry out the provisions of subparagraphs (E) 
                and (I) of section 2(b)(1) relating to outreach, 
                feedback, product improvement, and transaction advocacy 
                for small business concerns (as defined in section 3(a) 
                of the Small Business Act);
                    ``(B) advise and seek feedback from small business 
                concerns on the opportunities and benefits for small 
                business concerns in the financing products offered by 
                the Bank, with particular emphasis on conducting 
                outreach, enhancing the tailoring of products to small 
                business needs and increasing loans to small business 
                concerns;
                    ``(C) maintain liaison with the Small Business 
                Administration and other departments and agencies in 
                matters affecting small business concerns; and
                    ``(D) provide oversight of the development, 
                implementation, and operation of technology 
                improvements to strengthen small business outreach, 
                including the technology improvement required by 
                section 2(b)(1)(E)(x).
            ``(2) Management.--The President of the Bank shall appoint 
        an officer, who shall rank not lower than senior vice president 
        and whose sole executive function shall be to manage the 
        Division. The officer shall--
                    ``(A) have substantial recent experience in 
                financing exports by small business concerns; and
                    ``(B) 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.
    ``(g) Small Business Specialists.--
            ``(1) Dedicated personnel.--The President of the Bank shall 
        ensure that each operating division within the Bank has staff 
        that specializes in processing transactions that primarily 
        benefit small business concerns (as defined in section 3(a) of 
        the Small Business Act).
            ``(2) Responsibilities.--The small business specialists 
        shall be involved in all aspects of processing applications for 
        loans, guarantees, and insurance to support exports by small 
        business concerns, including the approval or disapproval, or 
        staff recommendations of approval or disapproval, as 
        applicable, of such applications. In carrying out these 
        responsibilities, the small business specialists shall consider 
        the unique business requirements of small businesses and shall 
        develop exporter performance criteria tailored to small 
        business exporters.
            ``(3) Approval authority.--In an effort to maximize the 
        speed and efficiency with which the Bank processes transactions 
        primarily benefitting small business concerns, the small 
        business specialists shall be authorized to approve 
        applications for working capital loans and guarantees, and 
        insurance in accordance with policies and procedures 
        established by the Board. It is the sense of Congress that the 
        policies and procedures should not prohibit, where appropriate, 
        small business specialists from approving applications for 
        working capital loans and guarantees, and for insurance, in 
        support of exports which have a value of less than $10,000,000.
            ``(4) Identification.--The Bank shall prominently identify 
        the small business specialists on its website and in 
        promotional material.
            ``(5) Employee evaluations.--The evaluation of staff 
        designated by the President of the Bank under paragraph (1), 
        including annual reviews of performance of duties related to 
        transactions in support of exports by small business concerns, 
        and any resulting recommendations for salary adjustments, 
        promotions, and other personnel actions, shall address the 
        criteria established pursuant to subsection (h)(2)(B)(iii) and 
        shall be conducted by the manager of the relevant operating 
        division following consultation with the officer appointed to 
        manage the Small Business Division pursuant to subsection 
        (f)(2).
            ``(6) Staff recommendations.--Staff recommendations of 
        denial or withdrawal for medium-term applications, exporter 
        held multi-buyer policies, single buyer policies, and working 
        capital applications processed by the Bank shall be transmitted 
        to the officer appointed to manage the Small Business Division 
        pursuant to subsection (f)(2) not later than 2 business days 
        before a final decision.
            ``(7) 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).
    ``(h) Small Business Committee.--
            ``(1) Establishment.--There is established a management 
        committee to be known as the `Small Business Committee'.
            ``(2) Purpose and duties.--
                    ``(A) Purpose.--The purpose of the Small Business 
                Committee shall be to coordinate the Bank's initiatives 
                and policies with respect to small business concerns 
                (as defined in section 3(a) of the Small Business Act), 
                including the timely processing and underwriting of 
                transactions involving direct exports by small business 
                concerns, and the development and coordination of 
                efforts to implement new or enhanced Bank products and 
                services pertaining to small business concerns.
                    ``(B) Duties.--The duties of the Small Business 
                Committee shall be determined by the President of the 
                Bank and shall include the following:
                            ``(i) Assisting in the development of the 
                        Bank's small business strategic plans, 
                        including the Bank's plans for carrying out 
                        section 2(b)(1)(E) (v) and (x), and measuring 
                        and reporting in writing to the President of 
                        the Bank, at least once a year, on the Bank's 
                        progress in achieving the goals set forth in 
                        the plans.
                            ``(ii) Evaluating and reporting in writing 
                        to the President of the Bank, at least once a 
                        year, with respect to--
                                    ``(I) the performance of each 
                                operating division of the Bank in 
                                serving small business concerns;
                                    ``(II) the impact of processing and 
                                underwriting standards on transactions 
                                involving direct exports by small 
                                business concerns; and
                                    ``(III) the adequacy of the 
                                staffing and resources of the Small 
                                Business Division.
                            ``(iii) Establishing criteria for 
                        evaluating the performance of staff designated 
                        by the President of the Bank under subsection 
                        (g)(1).
                            ``(iv) Coordinating the provision of 
                        services with other United States Government 
                        departments and agencies to small business 
                        concerns.
            ``(3) Composition.--
                    ``(A) Chairperson.--The Chairperson of the Small 
                Business Committee shall be the officer appointed to 
                manage the Small Business Division pursuant to 
                subsection (f)(2). The Chairperson shall have the 
                authority to call meetings of the Small Business 
                Committee, set the agenda for Committee meetings, and 
                request policy recommendations from the Committee's 
                members.
                    ``(B) Other members.--Except as otherwise provided 
                in this subsection, the President of the Bank shall 
                determine the composition of the Small Business 
                Committee, and shall appoint or remove the members of 
                the Small Business Committee. In making such 
                appointments, the President of the Bank shall ensure 
                that the Small Business Committee is comprised of--
                            ``(i) the senior managing officers 
                        responsible for underwriting and processing 
                        transactions; and
                            ``(ii) other officers and employees of the 
                        Bank with responsibility for outreach to small 
                        business concerns and underwriting and 
                        processing transactions that involve small 
                        business concerns.
            ``(4) Reporting.--The Chairperson shall provide to the 
        President of the Bank minutes of each meeting of the Small 
        Business Committee, including any recommendations by the 
        Committee or its individual members.''.
    (b) 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)(vii) of the Export-Import Bank Act of 1945 
        (12 U.S.C. 635(b)(1)(E)(vii)) with respect to medium term 
        transactions for small business concerns.
            (2) Conforming amendment.--Section 2(b)(1)(E)(vii)(III) of 
        the Export-Import Bank Act of 1945 (12 U.S.C. 
        635(b)(1)(E)(vii)(III)) is amended by inserting ``or other 
        financing institutions or entities'' after ``consortia''.
            (3) Deadline.--Not later than 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)(vii) of the Export-Import Bank Act 
        of 1945 pursuant to policies and procedures established by the 
        Board of Directors of the Export-Import Bank of the United 
        States.

SEC. 7. ANTI-CIRCUMVENTION.

    Section 2(e) of the Export-Import Bank Act of 1945 (12 U.S.C. 
635(e)), as amended by section 5 of this Act, is amended--
            (1) by inserting after paragraph (1), the following flush 
        paragraph:
        ``In making the determination under subparagraph (B), the Bank 
        shall determine whether the facility that would benefit from 
        the extension of a credit or guarantee is reasonably likely to 
        produce a commodity in addition to, or other than, the 
        commodity specified in the application and whether the 
        production of the additional commodity may cause substantial 
        injury to United States producers of the same, or a similar or 
        competing, commodity.'';
            (2) in paragraph (2), by adding at the end the following:
                    ``(E) Anti-circumvention.--The Bank shall not 
                provide a loan or guarantee if the Bank determines that 
                providing the loan or guarantee will facilitate 
                circumvention of an order or determination referred to 
                in subparagraph (A).''; and
            (3) by adding at the end the following:
            ``(6) Financial threshold determinations.--For purposes of 
        determining whether a proposed transaction exceeds a financial 
        threshold under this subsection or under the procedures or 
        rules of the Bank, the Bank shall aggregate the dollar amount 
        of the proposed transaction and the dollar amounts of all loans 
        and guarantees, approved by the Bank in the preceding 24-month 
        period, that involved the same foreign entity and substantially 
        the same product to be produced.''.

SEC. 8. TRANSPARENCY.

    (a) In General.--Section 2(e) of the Export-Import Bank Act of 1945 
(12 U.S.C. 635(e)), as amended by sections 5 and 7 of this Act, is 
amended by adding at the end the following:
            ``(7) Procedures to reduce adverse effects of loans and 
        guarantees on industries and employment in united states.--
                    ``(A) Consideration of economic effects of proposed 
                transactions.--If, in making a determination under this 
                paragraph with respect to a loan or guarantee, the Bank 
                conducts a detailed economic impact analysis or similar 
                study, the analysis or study, as the case may be, shall 
                include consideration of--
                            ``(i) the factors set forth in 
                        subparagraphs (A) and (B) of paragraph (1); and
                            ``(ii) the views of the public and 
                        interested parties.
                    ``(B) Notice and comment requirements.--
                            ``(i) In general.--If, in making a 
                        determination under this subsection with 
                        respect to a loan or guarantee, the Bank 
                        intends to conduct a detailed economic impact 
                        analysis or similar study, the Bank shall 
                        publish in the Federal Register a notice of the 
                        intent, and provide a period of not less than 
                        14 days (which, on request by any affected 
                        party, shall be extended to a period of not 
                        more than 30 days) for the submission to the 
                        Bank of comments on the economic effects of the 
                        provision of the loan or guarantee, including 
                        comments on the factors set forth in 
                        subparagraphs (A) and (B) of paragraph (1). In 
                        addition, the Bank shall seek comments on the 
                        economic effects from the Department of 
                        Commerce, the Office of Management and Budget, 
                        the Committee on Banking, Housing, and Urban 
                        Affairs of the Senate, and the Committee on 
                        Financial Services of the House of 
                        Representatives.
                            ``(ii) Content of notice.--The notice shall 
                        include appropriate, nonproprietary information 
                        about--
                                    ``(I) the country to which the 
                                goods involved in the transaction will 
                                be shipped;
                                    ``(II) the type of goods being 
                                exported;
                                    ``(III) the amount of the loan or 
                                guarantee involved;
                                    ``(IV) the goods that would be 
                                produced as a result of the provision 
                                of the loan or guarantee;
                                    ``(V) the amount of increased 
                                production that will result from the 
                                transaction;
                                    ``(VI) the potential sales market 
                                for the resulting goods; and
                                    ``(VII) the value of the 
                                transaction.
                            ``(iii) Procedure regarding materially 
                        changed applications.--
                                    ``(I) In general.--If a material 
                                change is made to an application for a 
                                loan or guarantee from the Bank after a 
                                notice with respect to the intent 
                                described in clause (i) is published 
                                under this subparagraph, the Bank shall 
                                publish in the Federal Register a 
                                revised notice of the intent, and shall 
                                provide for a comment period, as 
                                provided in clauses (i) and (ii).
                                    ``(II) Material change defined.--As 
                                used in subclause (I), the term 
                                `material change', with respect to an 
                                application, includes--
                                            ``(aa) a change of at least 
                                        25 percent in the amount of a 
                                        loan or guarantee requested in 
                                        the application; and
                                            ``(bb) a change in the 
                                        principal product to be 
                                        produced as a result of any 
                                        transaction that would be 
                                        facilitated by the provision of 
                                        the loan or guarantee.
                    ``(C) Requirement to address views of adversely 
                affected persons.--Before taking final action on an 
                application for a loan or guarantee to which this 
                section applies, the staff of the Bank shall provide in 
                writing to the Board of Directors the views of any 
                person who submitted comments pursuant to subparagraph 
                (B).
                    ``(D) Publication of conclusions.--Within 30 days 
                after a party affected by a final decision of the Board 
                of Directors with respect to a loan or guarantee makes 
                a written request therefor, the Bank shall provide to 
                the affected party a non-confidential summary of the 
                facts found and conclusions reached in any detailed 
                economic impact analysis or similar study conducted 
                pursuant to subparagraph (B) with respect to the loan 
                or guarantee, that were submitted to the Board of 
                Directors.
                    ``(E) Rule of interpretation.--This paragraph shall 
                not be construed to make subchapter II of chapter 5 of 
                title 5, United States Code, applicable to the Bank.
                    ``(F) Regulations.--The Bank shall implement such 
                regulations and procedures as may be appropriate to 
                carry out this paragraph.''.
    (b) Conforming Amendment.--Section 2(e)(2)(C) of such Act (12 
U.S.C. 635(e)(2)(C)) is amended by inserting ``of not less than 14 days 
(which, on request of any affected party, shall be extended to a period 
of not more than 30 days)'' after ``comment period''.

SEC. 9. AGGREGATE LOAN, GUARANTEE, AND INSURANCE AUTHORITY.

    Subparagraph (E) of section 6(a)(2) of the Export-Import Bank Act 
of 1945 (12 U.S.C. 635e(a)(2)) is amended to read as follows:
                    ``(E) during fiscal year 2006, and each fiscal year 
                thereafter through fiscal year 2011,''.

SEC. 10. TIED AID CREDIT PROGRAM.

    (a) In General.--Section 10(b)(5)(B)(ii) of the Export-Import Bank 
Act of 1945 (12 U.S.C. 635i-3(b)(5)(B)(ii)) is amended to read as 
follows:
                            ``(ii) Process.--In handling individual 
                        applications involving the use or potential use 
                        of the Tied Aid Credit Fund the following 
                        process shall exclusively apply pursuant to 
                        subparagraph (A):
                                    ``(I) The Bank shall process an 
                                application for tied aid in accordance 
                                with the principles and standards 
                                developed pursuant to subparagraph (A) 
                                and clause (i) of this subparagraph.
                                    ``(II) Twenty days prior to the 
                                scheduled meeting of the Board of 
                                Directors at which an application will 
                                be considered (unless the Bank 
                                determines that an earlier discussion 
                                is appropriate based on the facts of a 
                                particular financing), the Bank shall 
                                brief the Secretary on the application 
                                and deliver to the Secretary such 
                                documents, information, or data as may 
                                reasonably be necessary to permit the 
                                Secretary to review the application to 
                                determine if the application complies 
                                with the principles and standards 
                                developed pursuant to subparagraph (A) 
                                and clause (i) of this subparagraph.
                                    ``(III) The Secretary may request a 
                                single postponement of the 
                                consideration by the Board of Directors 
                                of the application for up to 14 days to 
                                allow the Secretary to submit to the 
                                Board of Directors a memorandum 
                                objecting to the application.
                                    ``(IV) Case-by-case decisions on 
                                whether to approve the use of the Tied 
                                Aid Credit Fund shall be made by the 
                                Board of Directors, except that the 
                                approval of the Board of Directors (or 
                                a commitment letter based on that 
                                approval) shall not become final 
                                (except as provided in subclause (V)), 
                                if the Secretary indicates to the 
                                President of the Bank in writing the 
                                Secretary's intention to appeal the 
                                decision of the Board of Directors to 
                                the President of the United States and 
                                makes the appeal in writing not later 
                                than 20 days after the meeting at which 
                                the Board of Directors considered the 
                                application.
                                    ``(V) The Bank shall not grant 
                                final approval of an application for 
                                any tied aid credit (or a commitment 
                                letter based on that approval) if the 
                                President of the United States, after 
                                consulting with the President of the 
                                Bank and the Secretary, determines 
                                within 30 days of an appeal by the 
                                Secretary under subclause (IV) that the 
                                extension of the tied aid credit would 
                                materially impede achieving the 
                                purposes described in subsection 
                                (a)(6). If no such Presidential 
                                determination is made during the 30-day 
                                period, the approval by the Bank of the 
                                application (or related commitment 
                                letter) that was the subject of such 
                                appeal shall become final.''.
    (b) 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), in paragraph (6)--
                    (A) in the matter preceding subparagraph (A), by 
                inserting ``, including those that are not a party to 
                the Arrangement,'' after ``countries'';
                    (B) in subparagraph (B), by adding ``and'' at the 
                end; and
                    (C) by inserting after subparagraph (B) 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), in paragraph (5)(B)--
                    (A) in clause (i)--
                            (i) in subclause (I), by striking ``and'' 
                        and by inserting ``, and to seek compliance by 
                        those countries that are not a party to the 
                        Arrangement'' before the period; and
                            (ii) 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.''.

SEC. 11. PROHIBITION ON ASSISTANCE TO DEVELOP OR PROMOTE CERTAIN 
              RAILWAY CONNECTIONS AND RAILWAY-RELATED CONNECTIONS.

    Section 2(b) of the Export-Import Act of 1945 (12 U.S.C. 635(b)) is 
amended by adding at the end the following new paragraph:
    ``(13) Prohibition on Assistance To Develop or Promote Certain 
Railway Connections and Railway-Related Connections.--The Bank shall 
not guarantee, insure, or extend (or participate in the extension of) 
credit in connection with the export of any good or service relating to 
the development or promotion of any railway connection or railway-
related connection that does not traverse or connect with Armenia and 
does traverse or connect Baku, Azerbaijan, Tbilisi, Georgia, and Kars, 
Turkey.''.

SEC. 12. PROCESS FOR NOTIFYING APPLICANTS OF APPLICATION STATUS; 
              IMPLEMENTATION OF EX-IM ONLINE.

    Section 2 of the Export-Import Bank Act of 1945 (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.
    ``(h) Response to Application for Financing; Implementation of 
Online Loan Request and Tracking Process.--
            ``(1) Response to applications.--Within 5 days after the 
        Bank receives an application for financing, the Bank shall 
        notify the applicant that the application has been received, 
        and shall include in the notice--
                    ``(A) a request for such additional information as 
                may be necessary to make the application complete;
                    ``(B) the name of a Bank employee who may be 
                contacted with questions relating to the application; 
                and
                    ``(C) a unique identification number which may be 
                used to review the status of the application at a 
                website established by the Bank.
            ``(2) Website.--Not later than September 1, 2007, the Bank 
        shall exercise the authority granted by subparagraphs (E)(x) 
        and (J) of subsection (b)(1) to establish, and thereafter to 
        maintain, a website through which--
                    ``(A) Bank products may be applied for; and
                    ``(B) information may be obtained with respect to--
                            ``(i) the status of any such application;
                            ``(ii) the Small Business Division of the 
                        Bank; and
                            ``(iii) incentives, preferences, targets, 
                        and goals relating to small business concerns 
                        (as defined in Section 3(a) of the Small 
                        Business Act), including small business 
                        concerns exporting to Africa.''.

SEC. 13. COMPETITIVENESS INITIATIVES.

    (a) Expansion of Scope of Annual Competitiveness Report.--The 
Export-Import Bank Act of 1945 (12 U.S.C. 635 et seq.) 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 congressional committees 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 second and third 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 pursuant to section 10(h)(7))) and, to the extent such 
        information is available to the Bank, 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 such 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 on 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 activities of the Bank with respect to financing renewable 
        energy projects undertaken under section 2(b)(1)(K), and an 
        analysis comparing the level of credit extended by the Bank for 
        renewable energy projects with the level of credit so extended 
        for the preceding fiscal year.
            ``(6) Size of bank program account.--A separate section 
        which--
                    ``(A) compares, to the extent practicable, 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, if appropriate, 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 description of the co-financing programs of 
        the Bank and of the other major export-financing facilities 
        referred to in paragraph (1), which includes a list of 
        countries with which the United States has in effect a 
        memorandum of understanding relating to export credit agency 
        co-financing and, if such a memorandum is not in effect with 
        any country with a major export credit-financing facility, an 
        explanation of why such a memorandum is not in effect.
            ``(8) Services supported 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 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 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 reported to the 
        Bank of export financing that appear not to comply with the 
        Arrangement (as defined in section 10(h)(3)) or that appear to 
        exploit loopholes in the Arrangement for the purpose of 
        obtaining a commercial competitive advantage. The President of 
        the Bank, in consultation with the Secretary of the Treasury, 
        may provide to the appropriate congressional committees the 
        information required by this subsection in a separate and 
        confidential report, instead of providing such information in 
        the report required by this subsection.
            ``(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 and other 
        entities sponsored by a foreign government, particularly those 
        that are not members of the Arrangement (as defined in section 
        10(h)(3)), appear not to comply with the Arrangement and appear 
        to be inconsistent 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. The President of the 
        Bank, in consultation with the Secretary of the Treasury, may 
        provide to the appropriate congressional committees, the 
        information required by this subsection in a separate and 
        confidential report, instead of providing such information in 
        the report required by this subsection.
    ``(b) Inclusion of Additional Comments.--The report required by 
subsection (a) shall include such additional comments as any member of 
the Board of Directors may submit to the Board for inclusion in the 
report.
    ``(c) Appropriate Congressional Committees.--The term `appropriate 
congressional committees' means the Committee on Financial Services of 
the House of Representatives and the Committee on Banking, Housing, and 
Urban Affairs of the Senate.''.
    (b) 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 third 
sentence.
    (c) Expansion of Countries in Competition With Which 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 second 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.
    (d) Sense of Congress Regarding Negotiation of the OECD 
Arrangement.--It is the sense of Congress that in the negotiation of 
the Arrangement (as defined in section 10(h)(3) of the Export-Import 
Bank Act of 1945) 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)) with respect to export finance, and seeking 
        appropriate action within the World Trade Organization for each 
        country that 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. 14. OFFICE OF FINANCING FOR SOCIALLY AND ECONOMICALLY 
              DISADVANTAGED SMALL BUSINESS CONCERNS AND SMALL BUSINESS 
              CONCERNS OWNED BY WOMEN.

    (a) In General.--Section 3 of the Export-Import Bank Act of 1945 
(12 U.S.C. 635a), as added by section 6, is amended by adding at the 
end the following:
    ``(i) Office of Financing for Socially and Economically 
Disadvantaged Small Business Concerns and Small Business Concerns Owned 
by Women.--
            ``(1) Establishment.--The President of the Bank shall 
        establish in the Small Business 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.
            ``(2) Management.--The office shall be managed by a Bank 
        officer of appropriate rank who shall report to the Bank 
        officer designated under subsection (f)(2).
            ``(3) Staffing.--To the maximum extent practicable, the 
        President of the Bank shall ensure that qualified minority and 
        women applicants are considered when filling any position in 
        the office.''.
    (b) Financing Directed Toward Small Businesses Owned by Minorities 
or Women.--Section 2(b)(1)(E)(v) of such Act (12 U.S.C. 
635(b)(1)(E)(v)) 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 increase the amount made available to finance 
exports directly by small business concerns referred to in section 
3(i)(1).''.

SEC. 15. GOVERNANCE.

    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) At the request of any 2 members of the Board of Directors, 
the Chairman of the Board shall place an item pertaining to the 
policies or procedures of the Bank on the agenda for discussion by the 
Board. Within 30 days after the date such a request is made, the 
Chairman shall hold a meeting of the Board at which the item shall be 
discussed.''.

SEC. 16. SENSE OF CONGRESS REGARDING MULTI-BUYER INSURANCE AND WORKING 
              CAPITAL GUARANTEE PROGRAMS.

    It is the sense of Congress that the Export-Import Bank of the 
United States should seek to expand the number and size of the regional 
multi-buyer insurance programs and working capital guarantee programs 
operated by, through, or in conjunction with the Bank.

SEC. 17. SENSE OF CONGRESS REGARDING AN OFFICE OF RENEWABLE ENERGY 
              PROMOTION.

    It is the sense of Congress that--
            (1) the Export-Import Bank of the United States should 
        establish, within 2 years of the date of the enactment of this 
        Act, an Office of Renewable Energy Promotion staffed by 
        individuals with appropriate expertise in renewable energy 
        technologies to proactively identify new opportunities for 
        renewable energy financing and to carry out section 2(b)(1)(K) 
        of the Export-Import Bank Act of 1945 (12 U.S.C. 635(b)(1)(K));
            (2) in carrying out the purposes of such an Office of 
        Renewable Energy Promotion, the head of such Office should 
        consider the recommendations of the Renewable Energy Exports 
        Advisory Committee of the Bank to promote renewable energy 
        technologies; and
            (3) the Bank should include in its annual report a 
        description of the activities carried out by such an Office of 
        Renewable Energy Promotion, including for each year a 
        description of the amount of credit extended by the Bank for 
        renewable energy technologies during that year and a comparison 
        between that amount and the amount of such credit extended by 
        the Bank in previous years.

SEC. 18. ENVIRONMENTAL MATTERS.

    (a) Environmental Representatives on 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.''.
    (b) Public Disclosure of Certain Documents.--Section 11(a)(1) of 
the Export-Import Bank of 1945 (12 U.S.C. 635i-5(a)(1)) is amended by 
inserting after the first sentence the following: ``Such procedures 
shall provide for the public disclosure of environmental assessments 
and supplemental environmental reports required to be submitted to the 
Bank, including remediation or mitigation plans and procedures, and 
related monitoring reports. The preceding sentence shall not be 
interpreted to require the public disclosure of any information 
described in section 1905 of title 18, United States Code.''.

SEC. 19. GOVERNMENT ACCOUNTABILITY OFFICE STUDY OF BANK PERFORMANCE 
              STANDARDS FOR ASSISTANCE TO SMALL BUSINESSES, ESPECIALLY 
              THOSE OWNED BY SOCIALLY AND ECONOMICALLY DISADVANTAGED 
              INDIVIDUALS AND THOSE OWNED BY WOMEN.

    (a) Performance Standards.--The Bank shall develop a set of 
performance standards for determining the extent to which the Bank has 
carried out successfully subparagraphs (E) and (I) of section 2(b)(1) 
of the Export-Import Bank Act of 1945, and the functions described in 
subsections (f)(1), (g)(1), (h)(1), and (i)(1) of section 3 of such 
Act.
    (b) Assessment of Standards.--Within 18 months after the date of 
the enactment of this Act, the Comptroller General of the United States 
shall transmit to the Committee on Financial Services of the House of 
Representatives and the Committee on Banking, Housing, and Urban 
Affairs of the Senate--
            (1) an assessment of the performance standards developed by 
        the Bank pursuant to subsection (a); and
            (2) using the performance standards developed pursuant to 
        subsection (a), an assessment of the Bank's efforts to carry 
        out subparagraphs (E) and (I) of section 2(b)(1) of the Export-
        Import Bank Act of 1945, and the functions described in 
        subsections (f)(1), (g)(1), (h)(1), and (i)(1) of section 3 of 
        such Act.

SEC. 20. REPORTS.

    Section 8 of the Export-Import Bank Act of 1945 (12 U.S.C. 635g) is 
amended by adding at the end the following:
    ``(f) Additional Reports.--Not later than March 31 of each year, 
the Bank 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 reports on--
            ``(1) the extent to which the Bank has been able to use the 
        authority provided, and has complied with the mandates 
        contained, in section 2(b)(1)(E), and to the extent the Bank 
        has been unable to fully use such authority and comply with 
        such mandates, a report on the reasons for the Bank's inability 
        to do so and the steps the Bank is taking to remedy such 
        inability;
            ``(2) the extent to which financing has been made available 
        to small business concerns (described in subsection (e)) to 
        enable them to participate in exports by major contractors, 
        including through access to the supply chains of the 
        contractors through direct or indirect funding;
            ``(3) the specific measures the Bank will take in the 
        upcoming year to achieve the small business objectives of the 
        Bank, including expanded outreach, product improvements, and 
        related actions;
            ``(4) the progress made by the Bank in supporting exports 
        by socially and economically disadvantaged small business 
        concerns (defined in section 8(a)(4) of the Small Business Act) 
        and small business concerns (as defined in section 3(a) of the 
        Small Business Act) owned by women, including estimates of the 
        amounts made available to finance exports directly by such 
        small business concerns, a comparison of these amounts with the 
        amounts made available to all small business concerns, and a 
        comparison of such amounts with the amounts so made available 
        during the 2 preceding years;
            ``(5) 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;
            ``(6) the effects of the fees on the ability of the Bank to 
        achieve the objectives of the Bank relating to small business;
            ``(7) the fee structure of the Bank as compared with those 
        of foreign export credit agencies; and
            ``(8)(A) the efforts made by the Bank to carry out 
        subparagraphs (E)(x) 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
            ``(B) if the Bank has been unable to comply with such 
        subparagraphs--
                    ``(i) an analysis of the reasons therefor; and
                    ``(ii) what the Bank is doing to achieve, and the 
                date by which the Bank expects to have achieved, such 
                compliance.''.

SEC. 21. STUDY OF HOW EXPORT-IMPORT BANK COULD ASSIST UNITED STATES 
              EXPORTERS TO MEET IMPORT NEEDS OF NEW OR IMPOVERISHED 
              DEMOCRACIES; REPORT.

    (a) Study.--The Export-Import Bank of the United States shall 
conduct a study designed to assess the needs of new or impoverished 
democracies, such as Liberia and Haiti, for imports from the United 
States, and shall determine what role the Bank can play a role in 
helping United States exporters seize the opportunities presented by 
the need for such imports.
    (b) Report to Congress.--Within 12 months after the date of the 
enactment of this Act, the Bank 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, in writing, a final 
report that contains the results of the study required by subsection 
(a).
            Attest:

                                                                          Clerk.
109th CONGRESS

  2d Session

                                S. 3938

_______________________________________________________________________

                               AMENDMENT
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