I 
114TH CONGRESS 
1ST SESSION H. R. 4302 
To require the Secretary of the Treasury to pursue with other countries 
the goal of the mutual elimination of government-backed export credit 
agencies, and to provide for the abolishment of the Export-Import Bank 
of the United States if doing so would not put the United States 
at a competitive disadvantage. 
IN THE HOUSE OF REPRESENTATIVES 
DECEMBER 18, 2015 
Mr. GRAVES of Louisiana introduced the following bill; which was referred to 
the Committee on Financial Services 
A BILL 
To require the Secretary of the Treasury to pursue with 
other countries the goal of the mutual elimination of 
government-backed export credit agencies, and to provide 
for the abolishment of the Export-Import Bank of the 
United States if doing so would not put the United 
States at a competitive disadvantage. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Entering Negotiations 
to Dissolve Outdated Financial Agencies Nationalizing 
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Export Related Activities’’ or the ‘‘END OF AN ERA 
Act’’. 
SEC. 2. FINDINGS. 
The Congress finds as follows: 
(1) Approximately 80 to 90 percent of world 
trade relies on trade finance, and the approximate 
value of the global market for trade finance is 
$10,000,000,000,000 per year. 
(2) In 2012, export credit agencies in Germany 
and France extended roughly two-and-a-half times 
as much export financing—measured as a share of 
their GDPs—as was extended by the Export-Import 
Bank of the United States; export credit agencies in 
China and India provided almost 3 times, and in 
Korea provided 10 times, as much export financing 
as was provided by the Export-Import Bank of the 
United States. 
(3) It is estimated that there are as many as 
85 export credit agencies globally. 
(4) In a true free market economy, private sec-
tor financing options would negate the need for an 
export credit agency such as the Export-Import 
Bank of the United States. 
(5) Unilateral abolishment of the Export-Im-
port Bank of the United States would place United 
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States manufacturing at a global competitive dis-
advantage. 
(6) The United States historically has led ef-
forts to impose international disciplines on govern-
ment-backed export credit activity. 
SEC. 3. REQUIREMENT TO SEEK NEGOTIATIONS WITH 
OTHER COUNTRIES FOR THE MUTUAL ELIMI-
NATION OF GOVERNMENT-BACKED EXPORT 
CREDIT AGENCIES; ANNUAL PROGRESS RE-
PORTS. 
(a) IN GENERAL.—The Secretary of the Treasury (in 
this Act referred to as the ‘‘Secretary’’) shall seek to enter 
into negotiations with other countries for the mutual elimi-
nation of government-backed export credit agencies. 
(b) PROGRESS REPORTS.—The Secretary shall sub-
mit to the Committee on Financial Services of the House 
of Representatives and the Committee on Banking, Hous-
ing, and Urban Affairs of the Senate (in this Act referred 
to as the ‘‘relevant Committees’’) annual reports, in writ-
ing, of— 
(1) progress made in arranging negotiations de-
scribed in subsection (a); and 
(2) progress made in any such negotiations, in-
cluding whether eliminating the Export-Import Bank 
of the United States (in this Act referred to as the 
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‘‘Bank’’) at the time of the report would put the 
United States at a competitive disadvantage. 
SEC. 4. CERTIFICATION THAT ELIMINATING THE EXPORT- 
IMPORT BANK OF THE UNITED STATES WILL 
NOT PUT THE UNITED STATES AT A COMPETI-
TIVE DISADVANTAGE. 
On a determination by the Secretary that the Bank 
can be eliminated in a way that would not put the United 
States at a competitive disadvantage, considering job 
losses and a decrease in economic activity, the Secretary 
shall submit to the relevant Committees a certification of 
the determination. 
SEC. 5. REDUCTIONS OF AUTHORITIES BEFORE ABOLISH-
MENT. 
(a) IN GENERAL.—Notwithstanding any other provi-
sion of law: 
(1) TERMINATION OF AUTHORITY TO ACCEPT 
APPLICATIONS
FOR
ASSISTANCE.—The Bank may 
not accept an application for a loan, insurance, or a 
guarantee, or to participate in an extension of credit 
by another entity, after the date the Secretary pro-
vides the certification described in section 4. 
(2) TERMINATION OF AUTHORITY TO RENEW 
OR ENTER INTO A CONTRACT FOR THE PROVISION 
OF ASSISTANCE BY THE BANK.—The Bank may not 
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renew or enter into a contract which would obligate 
the Bank to provide a loan, insurance, or a guar-
antee, or participate in an extension of credit by an-
other entity, after the date the Secretary provides 
the certification described in section 4. 
(b) RULE
OF INTERPRETATION.—Nothing in this 
section shall be construed to extend the expiration date 
of any authority provided by section 7 of the Export-Im-
port Bank Act of 1945. 
SEC. 6. ABOLISHMENT OF THE EXPORT-IMPORT BANK OF 
THE UNITED STATES. 
(a) IN GENERAL.—Effective on the abolishment date: 
(1) ABOLISHMENT.—The Bank is abolished. 
(2) TRANSFER OF FUNCTIONS.—All functions 
that, immediately before the abolishment date are 
authorized to be performed by the Bank, the Board 
of Directors of the Bank, any officer or employee of 
the Bank acting in that capacity, or any agency or 
office of the Bank, are transferred to the Secretary. 
(b) ABOLISHMENT DATE DEFINED.—In this Act, the 
term ‘‘abolishment date’’ means 180 days after the date 
the Secretary provides the certification described in sec-
tion 4. 
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SEC. 7. RESOLUTION AND TERMINATION OF BANK FUNC-
TIONS. 
(a) RESOLUTION
OF FUNCTIONS.—The Secretary 
shall— 
(1) complete the disposition and resolution of 
functions of the Bank in accordance with this Act; 
and 
(2) resolve all functions that are transferred to 
the Secretary under section 6(a)(2). 
(b) TERMINATION
OF FUNCTIONS.—All functions 
that are transferred to the Secretary under section 6(a)(2) 
shall terminate on the date all obligations of the Bank, 
and all obligations of others to the Bank, in effect imme-
diately before the abolishment date have been satisfied, as 
determined by the Secretary. 
(c) REPORT TO THE CONGRESS.—When the Sec-
retary makes the determination described in subsection (b) 
of this section, the Secretary shall report the determina-
tion to the Committees referred to in section 3(b). 
SEC. 8. DUTIES OF THE SECRETARY OF THE TREASURY. 
(a) IN GENERAL.—The Secretary shall be responsible 
for the implementation of this Act, including— 
(1) the administration and dissolution of all 
functions transferred to the Secretary under section 
6(a)(2); 
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(2) the administration and dissolution of any 
outstanding obligations of the Federal Government 
under any programs terminated by this Act; and 
(3) taking such other actions as may be nec-
essary to dissolve any outstanding affairs of the 
Bank. 
(b) DELEGATION
OF FUNCTIONS.—The Secretary 
may take such actions as may be necessary to wind up 
and dissolve all functions transferred to the Secretary 
under section 6(a)(2). 
(c) RULE OF INTERPRETATION.—Nothing in this Act 
may be construed to authorize positions and functions of 
the Bank after 60 days of abolishment. 
SEC. 9. CONFORMING AMENDMENTS AND REPEALS. 
(a) REPEAL OF PRIMARY AUTHORIZING STATUTE.— 
The Export-Import Bank Act of 1945 (12 U.S.C. 635– 
635i–9) is hereby repealed. 
(b) ELIMINATION OF RELATED AUTHORIZING PROVI-
SIONS.— 
(1) Section 103 of the International Develop-
ment and Finance Act of 1989 (12 U.S.C. 635 note; 
Public Law 101–240) is hereby repealed. 
(2) Section 303 of the Support for East Euro-
pean Democracy (SEED) Act of 1989 (12 U.S.C. 
635 note; Public Law 101–179) is hereby repealed. 
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(3) Section 1908 of the Export-Import Bank 
Act Amendments of 1978 (12 U.S.C. 635a–1) is 
amended— 
(A) by striking ‘‘(a)’’; and 
(B) by striking subsection (b). 
(4) Sections 1911 and 1912 of the Export-Im-
port Bank Act Amendments of 1978 (12 U.S.C. 
635a–2 and 635a–3) are hereby repealed. 
(5) Section 206 of the Bank Export Services 
Act (12 U.S.C. 635a–4) is hereby repealed. 
(6) Sections 1 through 5 of Public Law 90–390 
(12 U.S.C. 635j through 635n) are hereby repealed. 
(7) Sections 641 through 647 of the Trade and 
Development Enhancement Act of 1983 (12 U.S.C. 
635o–635t) are hereby repealed. 
(8) Section 534 of the Foreign Operations, Ex-
port Financing, and Related Programs Appropria-
tions Act, 1990 (12 U.S.C. 635g note; Public Law 
101–167) is amended by striking subsection (d). 
(9) Section 3302 of the Omnibus Trade and 
Competitiveness Act of 1988 (12 U.S.C. 635i–3 
note; Public Law 100–418) is amended by striking 
subsection (a). 
(10) Section 1105(a) of title 31, United States 
Code, is amended by striking paragraph (34) and re-
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designating the succeeding paragraphs of such sec-
tion as paragraphs (34) through (38), respectively. 
(11) Section 9101(3) of title 31, United States 
Code, is amended by striking subparagraph (C). 
(c) ELIMINATION OF RELATED COMPENSATION PRO-
VISIONS.— 
(1) POSITION AT LEVEL III.—Section 5314 of 
title 5, United States Code, is amended by striking 
the following item: 
‘‘President of the Export-Import Bank of Wash-
ington.’’. 
(2) POSITIONS AT LEVEL IV.—Section 5315 of 
title 5, United States Code, is amended— 
(A) by striking the following item: 
‘‘First Vice President of the Export-Import Bank of 
Washington.’’; and 
(B) by striking the following item: 
‘‘Members, Board of Directors of the Export-Import 
Bank of Washington.’’. 
(d) ELIMINATION OF OFFICE OF INSPECTOR GEN-
ERAL FOR THE BANK.—Section 12 of the Inspector Gen-
eral Act of 1978 (5 U.S.C. App.) is amended— 
(1) in paragraph (1), by striking ‘‘the President 
of the Export-Import Bank;’’; and 
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(2) in paragraph (2), by striking ‘‘the Export- 
Import Bank,’’. 
(e) EFFECTIVE DATE.—The repeals and amend-
ments made by this section shall take effect on the abolish-
ment date. 
(f) REPORT TO THE CONGRESS ON OTHER AMEND-
MENTS TO FEDERAL STATUTE.—The Secretary shall sub-
mit to the relevant Committees a written report that con-
tains suggestions for such other amendments to Federal 
statutes as may be necessary or appropriate as a result 
of this Act. 
SEC. 10. REFERENCES. 
Any reference in any other Federal law, executive 
order, rule, regulation, or delegation of authority, or any 
document of or pertaining to a department or office from 
which a function is transferred by this Act— 
(1) to the head of such department or office is 
deemed to refer to the head of the department or of-
fice to which the function is transferred; or 
(2) to such department or office is deemed to 
refer to the department or office to which the func-
tion is transferred. 
SEC. 11. DEFINITIONS. 
In this Act: 
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(1) FUNCTION.—The term ‘‘function’’ includes 
any duty, obligation, power, authority, responsibility, 
right, privilege, activity, or program. 
(2) OFFICE.—The term ‘‘office’’ includes any 
office, administration, agency, bureau, institute, 
council, unit, organizational entity, or component 
thereof. 
Æ 
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