H. R. 2072—11 
SEC. 18. PROHIBITIONS ON FINANCING FOR CERTAIN PERSONS 
INVOLVED IN SANCTIONABLE ACTIVITIES WITH RESPECT 
TO IRAN. 
(a) PROHIBITION ON FINANCING FOR PERSONS THAT ENGAGE 
IN CERTAIN SANCTIONABLE ACTIVITIES.— 
(1) IN GENERAL.—Beginning on the date that is 180 days 
after the date of the enactment of this Act, the Board of Direc-
tors of the Export-Import Bank of the United States may not 
approve any transaction that is subject to approval by the 
Board with respect to the provision by the Bank of any guar-
antee, insurance, or extension of credit, or the participation 
by the Bank in any extension of credit, to a person in connection 
with the exportation of any good or service unless the person 
makes the certification described in paragraph (2). 
(2) CERTIFICATION DESCRIBED.—The certification 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 sec-
tion 106 of the Comprehensive Iran Sanctions, Account-
ability, 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 ‘‘Iranian Transactions Regulations’’), 
unless the activity is disclosed to the Office of Foreign 
Assets Control of the Department of the Treasury when 
the activity is discovered; or 
(B) if the person or any other person owned or con-
trolled by the person has engaged in an activity described 
in subparagraph (A), that— 
(i) in the case of an activity described in subpara-
graph (A)(i)— 
(I) the President has waived the imposition 
of sanctions with respect to the person that 
engaged in that activity pursuant to section 4(c), 
6(b)(5), or 9(c) of the Iran Sanctions Act of 1996 
(Public Law 104–172; 50 U.S.C. 1701 note); 
(II)(aa) the President has invoked the special 
rule described in section 4(e)(3) of that Act with 
respect to the person that engaged in that activity; 
or 
(bb)(AA) the person that engaged in that 
activity determines, based on its best knowledge 
and belief, that the person meets the criteria 
described in subparagraph (A) of such section 
4(e)(3) and has provided to the President the assur-
ances described in subparagraph (B) of that sec-
tion; and 
(BB) the Secretary of State has issued an 
advisory opinion to that person that the person 
meets such criteria and has provided to the Presi-
dent those assurances; or
H. R. 2072—12 
(III) the President has determined that the 
criteria have been met for the exception provided 
for under section 5(a)(3)(C) of the Iran Sanctions 
Act of 1996 to apply with respect to the person 
that engaged in that activity; or 
(ii) in the case of an activity described in subpara-
graph (A)(ii), the President has waived, pursuant to 
section 401(b)(1) of the Comprehensive Iran Sanctions, 
Accountability, 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 transaction that is subject to approval by the 
Board with respect to the provision by the Bank of any guarantee, 
insurance, or extension of credit, or the participation by the Bank 
in any extension of credit, in connection with a financing 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 authorized to 
issue advisory opinions described in subsection (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 congressional committees of the opinion 
not later than 30 days after issuing the opinion. 
(d) DEFINITIONS.—In this section: 
(1) APPROPRIATE CONGRESSIONAL COMMITTEES; PERSON.— 
The terms ‘‘appropriate congressional committees’’ and ‘‘person’’ 
have the meanings given those terms in section 14 of the 
Iran Sanctions Act of 1996 (Public Law 104–172; 50 U.S.C. 
1701 note). 
(2) CONTROLLING SPONSOR.—The term ‘‘controlling sponsor’’ 
means a person providing controlling direct private equity 
investment (excluding investments 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 INFORMA-
TION 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 SURPLUS TO UPDATE 
INFORMATION TECHNOLOGY SYSTEMS.— 
‘‘(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 information technology system of 
the Bank;
H. R. 2072—13 
‘‘(B) remedy data fragmentation, enhance information 
flow throughout the Bank, and manage data across the 
Bank; and 
‘‘(C) enhance the operational capacity and risk manage-
ment 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 collected by the 
Bank; exceeds 
‘‘(B) the sum of— 
‘‘(I) the funds set aside to cover expected 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 authority provided 
by paragraph (1) may be exercised only to such extent and 
in such amounts as are provided in advance in appropriations 
Acts.’’. 
SEC. 20. MODIFICATIONS RELATING TO THE ADVISORY COMMITTEE. 
(a) REPRESENTATION
OF
THE
TEXTILE
INDUSTRY.—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 COMMITTEE.—Section 3(d) 
of such Act (12 U.S.C. 635a(d)) is amended by adding at the 
end the following: 
‘‘(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 compo-
nents or inputs made in the United States; and 
‘‘(B) support the maintenance, promotion and expansion 
of jobs in the United States that are critical to the manufacture 
of textile components and inputs.’’. 
(2) ANNUAL REPORT TO CONGRESS ON ADVISORY 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 report on the determinations made 
by the Advisory Committee 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
H. R. 2072—14 
referred to as the ‘‘Bank’’) shall conduct a study of the extent 
to which the products offered by the Bank are available and used 
by manufacturers in the United States that export goods manufac-
tured 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. 
(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 financing, including through 
risk-sharing with other export credit agencies and other third 
parties. 
(4) Ways in which the Bank can take into account the 
full global textile and apparel supply chain—in particular, the 
ultimate purchase, and ultimate United States-based pur-
chaser, of the finished good, that would result from the supply 
chain—in making credit and risk determinations and the credit-
worthiness 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 authorized to 
offer new products; 
(B) the extent to which the Bank would need additional 
authority to offer the new products; and 
(C) specific proposals for changes in law that would 
enable the Bank to provide such financing 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 Congress a report that 
contains the results of the study required by subsection (a). 
(c) ANNUAL REPORTS.—Section 8 of the Export-Import 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 FINANCING.—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 reasonably 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 textile 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 striking subclauses (I), 
(IV), and (VII) and by redesignating subclauses (II), (III), (V), (VI), 
(VIII), and (IX) as subclauses (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’’.
H. R. 2072—15 
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 earlier of June 1, 2012, 
or the date of the enactment of this Act. 
Speaker of the House of Representatives. 
Vice President of the United States and
President of the Senate.