HR 2072 PCS 
(2) CERTIFICATION
DESCRIBED.—The certifi-
cation described in this paragraph is a certification 
by a person— 
(A) that neither the person nor any other 
person owned or controlled by the person— 
(i) engages in any activity described 
in section 5(a) of the Iran Sanctions Act 
of 1996 (Public Law 104–172; 50 U.S.C. 
1701 note) for which the person may be 
subject to sanctions under that Act; 
(ii) exports sensitive technology, as 
defined in section 106 of the Comprehen-
sive Iran Sanctions, Accountability, and 
Divestment Act of 2010 (22 U.S.C. 8515), 
to Iran; or 
(iii) engages in any activity prohibited 
by part 560 of title 31, Code of Federal 
Regulations (commonly known as the ‘‘Ira-
nian Transactions Regulations’’), unless 
the activity is disclosed to the Office of 
Foreign Assets Control of the Department 
of the Treasury when the activity is discov-
ered; or 
(B) if the person or any other person 
owned or controlled by the person has engaged 
VerDate Mar 15 2010 
22:21 May 09, 2012
Jkt 019200
PO 00000
Frm 00028
Fmt 6652
Sfmt 6201
E:\BILLS\H2072.PCS
H2072
srobinson on DSK4SPTVN1PROD with BILLS
HR 2072 PCS 
in an activity described in subparagraph (A), 
that— 
(i) in the case of an activity described 
in subparagraph (A)(i)— 
(I) the President has waived the 
imposition of sanctions with respect to 
the person that engaged in that activ-
ity pursuant to section 4(c), 6(b)(5), 
or 9(c) of the Iran Sanctions Act of 
1996 
(Public 
Law 
104–172; 
U.S.C. 1701 note); 
(II)(aa) the President has in-
voked the special rule described in 
section 4(e)(3) of that Act with re-
spect to the person that engaged in 
that activity; or 
(bb)(AA) the person that en-
gaged in that activity determines, 
based on its best knowledge and be-
lief, that the person meets the criteria 
described in subparagraph (A) of such 
section 4(e)(3) and has provided to 
the President the assurances de-
scribed in subparagraph (B) of that 
section; and 
VerDate Mar 15 2010 
22:21 May 09, 2012
Jkt 019200
PO 00000
Frm 00029
Fmt 6652
Sfmt 6201
E:\BILLS\H2072.PCS
H2072
srobinson on DSK4SPTVN1PROD with BILLS
HR 2072 PCS 
(BB) the Secretary of State has 
issued an advisory opinion to that per-
son that the person meets such cri-
teria and has provided to the Presi-
dent those assurances; or 
(III) the President has deter-
mined that the criteria have been met 
for the exception provided for under 
section 5(a)(3)(C) of the Iran Sanc-
tions Act of 1996 to apply with re-
spect to the person that engaged in 
that activity; or 
(ii) in the case of an activity described 
in subparagraph (A)(ii), the President has 
waived, pursuant to section 401(b)(1) of 
the Comprehensive Iran Sanctions, Ac-
countability, and Divestment Act of 2010 
(22 U.S.C. 8551(b)(1)), the application of 
the prohibition under section 106(a) of 
that Act (22 U.S.C. 8515(a)) with respect 
to that person. 
(b) PROHIBITION ON FINANCING.—Beginning on the 
date that is 180 days after the date of the enactment of 
this Act, the Board of Directors of the Export-Import 
Bank of the United States may not approve any trans-
VerDate Mar 15 2010 
22:21 May 09, 2012
Jkt 019200
PO 00000
Frm 00030
Fmt 6652
Sfmt 6201
E:\BILLS\H2072.PCS
H2072
srobinson on DSK4SPTVN1PROD with BILLS
HR 2072 PCS 
action that is subject to approval by the Board with re-
spect to the provision by the Bank of any guarantee, in-
surance, or extension of credit, or the participation by the 
Bank in any extension of credit, in connection with a fi-
nancing in which a person that is a borrower or controlling 
sponsor, or a person that is owned or controlled by such 
borrower or controlling sponsor, is subject to sanctions 
under section 5(a) of the Iran Sanctions Act of 1996 
(Public Law 104–172; 50 U.S.C. 1701 note). 
(c) ADVISORY OPINIONS.— 
(1) AUTHORITY.—The Secretary of State is au-
thorized to issue advisory opinions described in sub-
section (a)(2)(B)(i)(II). 
(2) NOTICE TO CONGRESS.—If the Secretary 
issues an advisory opinion pursuant to paragraph 
(1), the Secretary shall notify the appropriate con-
gressional committees of the opinion not later than 
30 days after issuing the opinion. 
(d) DEFINITIONS.—In this section: 
(1) APPROPRIATE
CONGRESSIONAL
COMMIT-
TEES; PERSON.—The terms ‘‘appropriate congres-
sional committees’’ and ‘‘person’’ have the meanings 
given those terms in section 14 of the Iran Sanc-
tions Act of 1996 (Public Law 104–172; 50 U.S.C. 
1701 note). 
VerDate Mar 15 2010 
22:21 May 09, 2012
Jkt 019200
PO 00000
Frm 00031
Fmt 6652
Sfmt 6201
E:\BILLS\H2072.PCS
H2072
srobinson on DSK4SPTVN1PROD with BILLS
HR 2072 PCS 
(2) CONTROLLING SPONSOR.—The term ‘‘con-
trolling sponsor’’ means a person providing control-
ling direct private equity investment (excluding in-
vestments made through publicly held investment 
funds, publicly held securities, public offerings, or 
similar public market vehicles) in connection with a 
financing. 
SEC. 19. USE OF PORTION OF BANK SURPLUS TO UPDATE 
INFORMATION TECHNOLOGY SYSTEMS. 
Section 3 of the Export-Import Bank Act of 1945 
(12 U.S.C. 635a) is amended by adding at the end the 
following: 
‘‘(j) AUTHORITY TO USE PORTION OF BANK SUR-
PLUS
TO UPDATE INFORMATION TECHNOLOGY SYS-
TEMS.— 
‘‘(1) IN GENERAL.—Subject to paragraphs (3) 
and (4), the Bank may use an amount equal to 1.25 
percent of the surplus of the Bank during fiscal 
years 2012, 2013, and 2014 to— 
‘‘(A) seek to remedy any of the operational 
weakness and risk management vulnerabilities 
of the Bank which are the result of the infor-
mation technology system of the Bank; 
VerDate Mar 15 2010 
22:21 May 09, 2012
Jkt 019200
PO 00000
Frm 00032
Fmt 6652
Sfmt 6201
E:\BILLS\H2072.PCS
H2072
srobinson on DSK4SPTVN1PROD with BILLS
HR 2072 PCS 
‘‘(B) remedy data fragmentation, enhance 
information flow throughout the Bank, and 
manage data across the Bank; and 
‘‘(C) enhance the operational capacity and 
risk management capabilities of the Bank to 
better enable the Bank to increase exports and 
grow jobs while protecting the taxpayer. 
‘‘(2) SURPLUS.—In paragraph (1), the term 
‘surplus’ means the amount (if any) by which— 
‘‘(A) the sum of the interest and fees col-
lected by the Bank; exceeds 
‘‘(B) the sum of— 
‘‘(I) the funds set aside to cover ex-
pected losses on transactions financed by 
the Bank; and 
‘‘(ii) the costs incurred to cover the 
administrative expenses of the Bank. 
‘‘(3) 
LIMITATION.—The 
aggregate 
of 
the 
amounts used in accordance with paragraph (1) for 
fiscal years 2012, 2013, and 2014 shall not exceed 
$20,000,000. 
‘‘(4) SUBJECT TO APPROPRIATIONS.—The au-
thority provided by paragraph (1) may be exercised 
only to such extent and in such amounts as are pro-
vided in advance in appropriations Acts.’’. 
VerDate Mar 15 2010 
22:21 May 09, 2012
Jkt 019200
PO 00000
Frm 00033
Fmt 6652
Sfmt 6201
E:\BILLS\H2072.PCS
H2072
srobinson on DSK4SPTVN1PROD with BILLS
HR 2072 PCS 
SEC. 20. MODIFICATIONS RELATING TO THE ADVISORY 
COMMITTEE. 
(a) REPRESENTATION
OF
THE TEXTILE INDUS-
TRY.—Section 3(d)(1)(B) of the Export-Import Bank Act 
of 1945 (12 U.S.C. 635a(d)(1)(B)) is amended by striking 
‘‘and State government’’ inserting ‘‘State government, and 
the textile industry’’. 
(b) ACCESS TO BANK PRODUCTS BY THE TEXTILE 
INDUSTRY.— 
(1) 
CONSIDERATION
BY
ADVISORY
COM-
MITTEE.—Section 3(d) of such Act (12 U.S.C. 
635a(d)) is amended by adding at the end the fol-
lowing: 
‘‘(5) In carrying out paragraph (4), the Advisory 
Committee shall consider ways to promote the financing 
of Bank transactions for the textile industry, consistent 
with the requirement that the Bank obtain a reasonable 
assurance of repayment, and determine ways to— 
‘‘(A) increase Bank support for the exports of 
textile components or inputs made in the United 
States; and 
‘‘(B) support the maintenance, promotion and 
expansion of jobs in the United States that are crit-
ical to the manufacture of textile components and 
inputs.’’. 
VerDate Mar 15 2010 
22:21 May 09, 2012
Jkt 019200
PO 00000
Frm 00034
Fmt 6652
Sfmt 6201
E:\BILLS\H2072.PCS
H2072
srobinson on DSK4SPTVN1PROD with BILLS
HR 2072 PCS 
(2) ANNUAL REPORT TO CONGRESS ON ADVI-
SORY COMMITTEE DETERMINATIONS.—Section 8 of 
such Act (12 U.S.C. 635g), as amended by sections 
6 and 10 of this Act, is amended by adding at the 
end the following: 
‘‘(i) ACCESS TO BANK PRODUCTS BY THE TEXTILE 
INDUSTRY.—The Bank shall include in its annual report 
to the Congress under subsection (a) of this section a re-
port on the determinations made by the Advisory Com-
mittee under section 3(d)(5) in the year covered by the 
report.’’. 
SEC. 21. FINANCING FOR GOODS MANUFACTURED IN THE 
UNITED STATES USED IN GLOBAL TEXTILE 
AND APPAREL SUPPLY CHAINS. 
(a) ANALYSIS OF TEXTILE INDUSTRY USE OF BANK 
PRODUCTS.—The Export-Import Bank of the United 
States (in this section referred to as the ‘‘Bank’’) shall 
conduct a study of the extent to which the products of-
fered by the Bank are available and used by manufactur-
ers in the United States that export goods manufactured 
in the United States used as components in global textile 
and apparel supply chains. In conducting the study, the 
Bank shall examine the following: 
(1) Impediments to use of Bank products by 
such firms. 
VerDate Mar 15 2010 
22:21 May 09, 2012
Jkt 019200
PO 00000
Frm 00035
Fmt 6652
Sfmt 6201
E:\BILLS\H2072.PCS
H2072
srobinson on DSK4SPTVN1PROD with BILLS
HR 2072 PCS 
(2) The number of jobs in the United States 
that are supported by the export of such component 
parts and the degree to which access to financing 
will increase exports. 
(3) Specific proposals for how the Bank, using 
its authority and products, could provide the financ-
ing, including through risk-sharing with other export 
credit agencies and other third parties. 
(4) Ways in which the Bank can take into ac-
count the full global textile and apparel supply 
chain—in particular, the ultimate purchase, and ul-
timate United States-based purchaser, of the fin-
ished good, that would result from the supply 
chain—in making credit and risk determinations 
and the creditworthiness of the ultimate purchaser. 
(5) Proposals for new products the Bank could 
offer to provide the financing, including— 
(A) the extent to which the Bank is au-
thorized to offer new products; 
(B) the extent to which the Bank would 
need additional authority to offer the new prod-
ucts; and 
(C) specific proposals for changes in law 
that would enable the Bank to provide such fi-
VerDate Mar 15 2010 
22:21 May 09, 2012
Jkt 019200
PO 00000
Frm 00036
Fmt 6652
Sfmt 6201
E:\BILLS\H2072.PCS
H2072
srobinson on DSK4SPTVN1PROD with BILLS
HR 2072 PCS 
nancing in compliance with the credit and risk 
standards of the Bank. 
(b) REPORT.—Within 180 days after the date of the 
enactment of this Act, the Bank shall submit to the Con-
gress a report that contains the results of the study re-
quired by subsection (a). 
(c) ANNUAL REPORTS.—Section 8 of the Export-Im-
port Bank Act of 1945 (12 U.S.C. 635g), as amended by 
sections 6, 10, and 20(b)(2) of this Act, is amended by 
adding at the end the following: 
‘‘(j) TEXTILE AND APPAREL SUPPLY CHAIN FINANC-
ING.—The Bank shall include in its annual report to the 
Congress under subsection (a) of this section a description 
of the success of the Bank in providing effective and rea-
sonably priced financing to the United States textile and 
apparel industry for exports of goods manufactured in the 
United States that are used as components in global tex-
tile and apparel supply chains in the year covered by the 
report, and steps the Bank has taken to increase the use 
of Bank products by such firms.’’. 
SEC. 22. TECHNICAL CORRECTION. 
Section 2(b)(2)(B)(ii) of the Export-Import Bank Act 
of 1945 (12 U.S.C. 635(b)(2)(B)(ii)) is amended by strik-
ing subclauses (I), (IV), and (VII) and by redesignating 
VerDate Mar 15 2010 
22:21 May 09, 2012
Jkt 019200
PO 00000
Frm 00037
Fmt 6652
Sfmt 6201
E:\BILLS\H2072.PCS
H2072
srobinson on DSK4SPTVN1PROD with BILLS
HR 2072 PCS 
subclauses (II), (III), (V), (VI), (VIII), and (IX) as sub-
clauses (I) through (VI), respectively. 
SEC. 23. SUB-SAHARAN AFRICA ADVISORY COMMITTEE. 
Section 2(b)(9)(B)(iii) of the Export-Import Bank 
Act of 1945 (12 U.S.C. 635(b)(9)(B)(iii)) is amended by 
striking ‘‘2011’’ and inserting ‘‘2014’’. 
SEC. 24. DUAL USE EXPORTS. 
Section 4 of Public Law 109–438 (12 U.S.C. 635 
note; 108 Stat. 4376) is amended by striking ‘‘2011’’ and 
inserting ‘‘2014’’. 
SEC. 25. EFFECTIVE DATE. 
Except as provided in section 9(b), this Act and the 
amendments made by this Act shall take effect on the ear-
lier of June 1, 2012, or the date of the enactment of this 
Act. 
Passed the House of Representatives May 9, 2012. 
Attest: 
KAREN L. HAAS, 
Clerk. 
VerDate Mar 15 2010 
22:21 May 09, 2012
Jkt 019200
PO 00000
Frm 00038
Fmt 6652
Sfmt 6201
E:\BILLS\H2072.PCS
H2072
srobinson on DSK4SPTVN1PROD with BILLS
VerDate Mar 15 2010 
22:21 May 09, 2012
Jkt 019200
PO 00000
Frm 00039
Fmt 6652
Sfmt 6201
E:\BILLS\H2072.PCS
H2072
srobinson on DSK4SPTVN1PROD with BILLS