encouraging transparency and the involvement 
of stakeholders.’’; and 
(3) in paragraph (7) (as so redesignated by 
paragraph (2) of this subsection), by striking ‘‘para-
graph (1)’’ and inserting ‘‘this subsection’’. 
(c) ANNUAL REPORT TO CONGRESS.—Section 11(c) of 
such Act (12 U.S.C. 635i–5(c)) is amended to read as fol-
lows: 
‘‘(c) INCLUSION IN ANNUAL REPORT TO CONGRESS.— 
The Agency shall include in its annual report to Congress 
under section 8 a summary of its activities under sub-
sections (a) and (b). The Board of Directors shall submit 
to the Congress a report, which shall be made publicly 
available on the Internet at the time of delivery— 
‘‘(1) that provides a detailed accounting of the 
methodology used to make greenhouse gas emissions 
project determinations; and 
‘‘(2) details the steps taken to ensure that the 
Environmental and Social Due Diligence Procedures 
and Guidelines of the Agency are consistent with— 
‘‘(A) reducing greenhouse gas emissions; 
and 
‘‘(B) operating consistently with the multi-
lateral environmental agreements to which the 
United States is a party that are directly related 
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to transactions in which the Agency is in-
volved.’’. 
(d) FINANCING FOR RENEWABLE ENERGY, ENERGY 
EFFICIENCY, AND ENERGY STORAGE TECHNOLOGIES.—Sec-
tion 2(b)(1)(K) of such Act (12 U.S.C. 635(b)(1)(K)) is 
amended by inserting ‘‘, energy efficiency, and energy stor-
age. It shall be a goal of the Bank to ensure that not less 
than 5 percent of the applicable amount (as defined in sec-
tion 6(a)(2)) is made available each fiscal year for the fi-
nancing of renewable energy, energy efficiency, and energy 
storage technology exports’’ before the period. 
(e) SENSE OF THE CONGRESS REGARDING AGENCY 
ACCOUNTABILITY.—It is the sense of the Congress that— 
(1) the Board of Directors of the United States 
Export Finance Agency (in this section referred to as 
the ‘‘Agency’’) should, after a public consultation 
process, establish a formal, transparent, and inde-
pendent accountability mechanism to review, inves-
tigate, offer independent dispute resolution to resolve, 
and publicly report on allegations by affected parties 
of any failure of the Agency to follow its own policies 
and procedures with regard to the environmental and 
social impacts of projects, and on situations where the 
Agency is alleged to have failed in ensuring the bor-
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rower is fulfilling its obligations in financing agree-
ments with respect to the policies and procedures; 
(2) the accountability mechanism should be able 
to provide advice to management on policies, proce-
dures, guidelines, resources, and systems established to 
ensure adequate review and monitoring of the envi-
ronmental and social impacts of projects; 
(3) in carrying out its mandate, the confiden-
tiality of sensitive business information should be re-
spected, as appropriate, and, in consultation with po-
tentially impacted communities, project sponsors, 
Agency management, and other relevant parties, a 
flexible process should be followed aimed primarily at 
correcting project failures and achieving better results 
on the ground; 
(4) the accountability mechanism should be inde-
pendent of the line operations of management, and re-
port its findings and recommendations directly to the 
Board of Directors of the Agency and annually to the 
Congress; 
(5) the annual report of the Agency should in-
clude a detailed accounting of the activities of the ac-
countability mechanism for the year covered by the 
report and the remedial actions taken by the Agency 
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in response to the findings of the accountability mech-
anism; 
(6) in coordination with the accountability 
mechanism, the Agency and relevant parties should 
engage in proactive outreach to communities im-
pacted or potentially impacted by Agency financing 
and activities to provide information on the existence 
and availability of the accountability mechanism; 
(7) the President of the Agency should, subject to 
the approval of the Board of Directors of the Agency, 
and consistent with applicable law, through an open 
and competitive process, including solicitation of 
input from relevant stakeholders, appoint a director 
of the accountability mechanism, who would be re-
sponsible for the day-to-day operations of the mecha-
nism, and a panel of not less than 3 experts, includ-
ing the director, who would also serve as chair of the 
panel; and 
(8) The accountability mechanism director and 
members of the panel should not have been employed 
by the Agency within the 5 years preceding their ap-
pointment, and should be ineligible from future em-
ployment at the Agency. 
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SEC. 14. REINSURANCE PROGRAM. 
Section 51008 of the Fixing America’s Surface Trans-
portation Act (12 U.S.C. 635 note) is amended— 
(1) in the section heading, by striking ‘‘PILOT’’; 
(2) in subsection (a), by striking ‘‘pilot’’; 
(3) 
in 
subsection 
(b)(1), 
by 
striking 
‘‘$1,000,000,000’’ and inserting ‘‘$2,000,000,000’’; 
and 
(4) by striking subsections (c) through (e) and 
inserting the following: 
‘‘(c) FACTORS FOR CONSIDERATION IN REINSURANCE 
POOLS.—In implementing this section, the Agency shall, 
with respect to a reinsurance pool, pursue appropriate ob-
jectives to reduce risk and costs to the Agency, including 
by the following, to the extent practicable: 
‘‘(1) Ensuring a reasonable diversification of 
risks. 
‘‘(2) Including larger exposures where the possi-
bility of default raises overall portfolio risk for the 
Agency. 
‘‘(3) Excluding transactions from the pool that 
are covered by first-loss protection. 
‘‘(4) Excluding transactions from the pool that 
are collateralized at a rate greater than standard 
market practice. 
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‘‘(5) Diversifying reinsurance pools by industry 
and other appropriate factors. 
‘‘(6) Exploring different time periods of coverage. 
‘‘(7) Exploring both excess of loss structures on 
a per-borrower as well as an aggregate basis. 
‘‘(d) BIENNIAL REPORTS.—Not later than 1 year after 
the date of the enactment of this subsection, and every 2 
years thereafter through 2029, the Agency shall submit to 
the Committee on Financial Services of the House of Rep-
resentatives and the Committee on Banking, Housing, and 
Urban Affairs of the Senate a written report that contains 
an assessment of the use of the program carried out under 
subsection (a) since the most recent report under this sub-
section. 
‘‘(e) RULE OF CONSTRUCTION.—Nothing in this sec-
tion shall be construed to limit any authority of the Agency 
described in section 2(a)(1) of the Export-Import Bank Act 
of 1945.’’. 
SEC. 15. INFORMATION TECHNOLOGY SYSTEMS. 
Section 3(j) of the Export-Import Bank Act of 1945 
(12 U.S.C. 635a(j)) is amended— 
(1) in paragraph (1), by striking all that pre-
cedes subparagraph (A) and inserting the following: 
‘‘(1) IN GENERAL.—Subject to paragraphs (3) 
and (4), the Agency may use an amount equal to 1.25 
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percent of the surplus of the Agency during fiscal 
years 2020 through 2029 to—’’; and 
(2) by striking paragraph (3) and inserting the 
following: 
‘‘(3) LIMITATION.—The aggregate of the amounts 
used in accordance with paragraph (1) for fiscal 
years 
2020 
through 
2029 
shall 
not 
exceed 
$40,000,000.’’. 
SEC. 16. ADMINISTRATIVELY DETERMINED PAY. 
Section 3 of the Export-Import Bank Act of 1945 (12 
U.S.C. 635a), as amended by section 7(a) of this Act, is 
amended by adding at the end the following: 
‘‘(o) COMPENSATION OF EMPLOYEES.— 
‘‘(1) RATES OF PAY.—Subject to paragraph (2), 
the Board of Directors of the Agency, consistent with 
standards established by the Director of the Office of 
Minority and Women Inclusion, may set and adjust 
rates of basic pay for employees and new hires of the 
Agency without regard to the provisions of chapter 51 
and subchapter III of chapter 53 of title 5, United 
States Code, except that no employee of the Agency 
may receive a rate of basic pay that exceeds the rate 
for level III of the Executive Schedule under section 
5313 of such title. 
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‘‘(2) LIMITATIONS.—The Board of Directors of 
the Agency may not apply paragraph (1) to more 
than 35 employees at any point in time. Nothing in 
paragraph (1) may be construed to apply to any po-
sition of a confidential or policy-determining char-
acter that is excepted from the competitive service 
under section 3302 of title 5, United States Code, 
(pursuant to schedule C of subpart C of part 213 of 
title 5 of the Code of Federal Regulations) or to any 
position that would otherwise be subject to section 
5311 or 5376 of title 5, United States Code.’’. 
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Union Calendar No. 216 
116TH CONGRESS 
1ST SESSION 
H. R. 4863 
[Report No. 116–271] 
A BILL 
To promote the competitiveness of the United 
States, to reform and reauthorize the United 
States Export Finance Agency, and for other 
purposes. 
NOVEMBER 8, 2019 
Reported with an amendment, committed to the Com-
mittee of the Whole House on the State of the Union, 
and ordered to be printed 
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