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[Congressional Bills 109th Congress]
[From the U.S. Government Publishing Office]
[S. 3938 Enrolled Bill (ENR)]

        S.3938

                       One Hundred Ninth Congress

                                 of the

                        United States of America

                          AT THE SECOND SESSION

          Begun and held at the City of Washington on Tuesday,
             the third day of January, two thousand and six

                                 An Act

       To reauthorize the Export-Import Bank of the United States.

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

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).

                               Speaker of the House of Representatives.

                            Vice President of the United States and    
                                               President of the Senate.
```