I 
114TH CONGRESS 
1ST SESSION H. R. 1031 
To reauthorize the Export-Import Bank of the United States, and for other 
purposes. 
IN THE HOUSE OF REPRESENTATIVES 
FEBRUARY 24, 2015 
Ms. MAXINE WATERS of California (for herself, Mr. HECK of Washington, Ms. 
MOORE, and Mr. HOYER) introduced the following bill; which was re-
ferred to the Committee on Financial Services 
A BILL 
To reauthorize the Export-Import Bank of the United States, 
and for other purposes. 
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 ‘‘Promoting U.S. Jobs 
Through Exports Act of 2015’’. 
SEC. 2. TABLE OF CONTENTS. 
The table of contents of this Act is as follows: 
Sec. 1. Short title. 
Sec. 2. Table of contents. 
TITLE I—REAUTHORIZATION OF THE EXPORT-IMPORT BANK 
Sec. 101. Limitations on outstanding loans, guarantees, and insurance. 
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Sec. 102. Extension of authority. 
Sec. 103. Reauthorization of the Sub-Saharan Africa Advisory Committee. 
Sec. 104. Reauthorization of dual use exports. 
TITLE II—EXPANDING BANK SUPPORT FOR UNITED STATES 
EXPORTS 
Sec. 201. Recommendations to increase small business outreach. 
Sec. 202. Technical assistance for small businesses. 
Sec. 203. Exposure limit estimates. 
Sec. 204. Small business and medium-sized enterprises reports. 
Sec. 205. Medium-sized enterprises. 
Sec. 206. Participation and risk-sharing by private sector lenders. 
Sec. 207. Risk-sharing arrangements. 
Sec. 208. Promoting renewable energy exports. 
TITLE III— ETHICS AND FRAUD CONTROLS 
Sec. 301. Codifying the role of the Chief Risk Officer. 
Sec. 302. Reports on ethics requirements of the Bank. 
Sec. 303. Employee financial disclosures. 
Sec. 304. Supplemental ethics regulations. 
Sec. 305. Annual employee certifications. 
TITLE IV—ENHANCING EXTERNAL AUDITS AND REVIEWS 
Sec. 401. Enhanced audit controls. 
Sec. 402. Independent evaluation of Bank portfolio. 
Sec. 403. External review of fraud controls. 
TITLE V—STRENGTHENING PROJECT MONITORING AND DUE 
DILIGENCE 
Sec. 501. Enhanced monitoring and due diligence for structured and project fi-
nance transactions. 
Sec. 502. Monitoring plans and post-approval assessments for structured and 
project finance transactions. 
Sec. 503. Reserving the right of inspection. 
TITLE VI—MODERNIZATION OF BANK SYSTEMS 
Sec. 601. Electronic payments and documents. 
Sec. 602. Reauthorization of information technology updating. 
Sec. 603. Information technology modernization. 
Sec. 604. Modernizing the disclosure of environmental reports. 
TITLE VII—LEVELING THE PLAYING FIELD FOR UNITED STATES 
EXPORTERS 
Sec. 701. Leveling the playing field for United States exporters. 
Sec. 702. Prohibiting illegal support of foreign exports. 
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TITLE I—REAUTHORIZATION OF 
THE EXPORT-IMPORT BANK 
SEC. 101. LIMITATIONS ON OUTSTANDING LOANS, GUARAN-
TEES, AND INSURANCE. 
Section 6(a)(2) of the Export-Import Bank Act of 
1945 (12 U.S.C. 635e(a)(2)) is amended to read as fol-
lows: 
‘‘(2) APPLICABLE AMOUNT.—In paragraph (1), 
the term ‘applicable amount’ means, for fiscal year 
2015, $140,000,000,000, except that— 
‘‘(A) the applicable amount for each of fis-
cal 
years 
2016 
and 
2017 
shall 
be 
$145,000,000,000 if the rate calculated under 
section 8(g)(1) of this Act is less than 2 percent 
for the quarter ending with the beginning of the 
fiscal year, or for any quarter in the fiscal year; 
‘‘(B) notwithstanding subparagraph (A), 
the applicable amount for fiscal years 2018 and 
2019 shall be $150,000,000,000 if the rate cal-
culated under section 8(g)(1) of this Act is less 
than 2 percent for the quarter ending with the 
beginning of the fiscal year, or for any quarter 
in the fiscal year; 
‘‘(C) notwithstanding subparagraphs (A) 
and (B), the applicable amount for fiscal years 
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2020 and 2021 shall be $155,000,000,000 if 
the rate calculated under section 8(g)(1) of this 
Act is less than 2 percent for the quarter end-
ing with the beginning of the fiscal year, or for 
any quarter in the fiscal year; and 
‘‘(D) notwithstanding subparagraphs (A), 
(B), and (C), the applicable amount for fiscal 
year 
2022 
and 
thereafter 
shall 
be 
$160,000,000,000 if the rate calculated under 
section 8(g)(1) of this Act is less than 2 percent 
for the quarter ending with the beginning of the 
fiscal year, or for any quarter in the fiscal 
year.’’. 
SEC. 102. EXTENSION OF AUTHORITY. 
Section 7 of the Export-Import Bank Act of (12 
U.S.C. 635f) is amended by striking ‘‘2014’’ and inserting 
‘‘2022’’. 
SEC. 103. REAUTHORIZATION OF THE SUB-SAHARAN AFRI-
CA 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 ‘‘September 30, 2014’’ and inserting ‘‘the date 
set forth in section 7’’. 
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SEC. 104. REAUTHORIZATION OF DUAL USE EXPORTS. 
Section 1 of Public Law 103–428 (12 U.S.C. 635 
note; 108 Stat. 4376) is amended by striking subsection 
(c). 
TITLE 
II—EXPANDING 
BANK 
SUPPORT 
FOR 
UNITED 
STATES EXPORTS 
SEC. 201. RECOMMENDATIONS TO INCREASE SMALL BUSI-
NESS OUTREACH. 
Section 3(d) of the Export-Import Bank Act of 1945 
(12 U.S.C. 635a(d)) is amended by adding at the end the 
following: 
‘‘(6)(A) The Advisory Committee shall make 
recommendations to the Bank on ways to encourage 
increased participation by private financial institu-
tions in providing outreach about the Bank to small 
business concerns. 
‘‘(B) The Bank shall— 
‘‘(i) review all recommendations made by 
the Advisory Committee under this paragraph 
and implement a program to expand outreach 
about the Bank to small business concerns 
through increased participation by private 
banks; and 
‘‘(ii) encourage commercial banks, commu-
nity banks, and insurance brokers to expand 
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their outreach about the Bank to small business 
concerns.’’. 
SEC. 202. TECHNICAL ASSISTANCE FOR SMALL BUSI-
NESSES. 
Section 2(b)(1)(E)(i) of the Export-Import Bank Act 
of 1945 (12 U.S.C. 635(b)(1)(E)(i)) is amended by adding 
at the end the following: 
‘‘(III) The Bank shall provide technical assistance to 
small businesses on how to apply for financial assistance 
provided by the Bank (such as through training classes 
and online webinars).’’. 
SEC. 203. EXPOSURE LIMIT ESTIMATES. 
Section 8 of the Export-Import Bank Act of 1945 
(12 U.S.C. 635g) is amended by adding at the end the 
following: 
‘‘(k) EXPOSURE LIMIT ESTIMATES.—The Bank shall 
include in its annual report to the Congress under sub-
section (a)— 
‘‘(1) an estimate of the anticipated demand for 
the loan, guarantee, and insurance programs of the 
Bank for the 2 succeeding years, disaggregated by— 
‘‘(A) industry sector; 
‘‘(B) whether the products involved are 
short-term loans, medium-term loans, long-term 
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loans, insurance, medium-term loans guaran-
tees, or long-term guarantees; and 
‘‘(C) key market; 
‘‘(2) a justification for the estimate described in 
paragraph (1) including a discussion of the factors 
which would could increase or decrease demand for 
the products of the Bank; 
‘‘(3) an analysis of the ability of the Bank to 
meet its mandates with respect to small business, 
sub-Saharan Africa, and renewable energy under the 
estimated exposure limit described in paragraph (1); 
and 
‘‘(4) an analysis of the adequacy of the admin-
istrative and programmatic resources of the Bank to 
effectively process, approve, and monitor authoriza-
tions, including the conducting of required economic 
impact analyses and environmental assessments, 
under the proposed exposure limit.’’. 
SEC. 204. SMALL BUSINESS AND MEDIUM-SIZED ENTER-
PRISES REPORTS. 
(a) IN GENERAL.—The Export-Import Bank Act of 
1945 (12 U.S.C. 635 et seq.) is amended by inserting 
after section 8A the following: 
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‘‘SEC. 8B. SMALL BUSINESS CONCERNS AND MEDIUM-SIZED 
ENTERPRISES REPORTS. 
‘‘(a) STUDY.—Not later than 360 days after the date 
of the enactment of this section, and annually thereafter, 
the Bank shall— 
‘‘(1) carry out a study on the financial pro-
grams and products of the Bank that support ex-
ports from small business concerns and enterprises 
that use, or seek to use, the medium-term programs 
offered by the Bank, including the programs and 
products, with respect to the implementation of the 
export credit insurance program, delegated lending 
authority, and direct loans of the Bank; and 
‘‘(2) determine the extent to which financial 
programs and products adequately meet the needs of 
small business concerns and enterprises that use, or 
seek to use, the medium-term programs offered by 
the Bank in obtaining Bank financing to support the 
maintenance or creation of jobs in the United States 
through exports, consistent with the policies of the 
Bank and the requirement that the Bank obtain a 
reasonable assurance of repayment. 
‘‘(b) REPORT.—On the completion of the study re-
quired under subsection (a), the Bank shall issue a report 
to the Congress containing— 
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‘‘(1) all findings and determinations made by 
the Bank in carrying out the study; 
‘‘(2) an analysis of the extent to which small 
business concerns and enterprises that use, or seek 
to use the medium-term programs offered by the 
Bank supply exporters with goods and services, the 
content of which is included in exports supported by 
a Bank program; and 
‘‘(3) recommendations to enhance the support 
the Bank may provide small business concerns and 
enterprises that use, or seek to use, the medium- 
term programs offered by the Bank. 
‘‘(c) SMALL BUSINESS CONCERN DEFINED.—In this 
section, the term ‘small business concern’ has the meaning 
given the term under section 3(a) of the Small Business 
Act.’’. 
(b) REPORT ON BANK SUPPORT FOR SMALL- AND 
MEDIUM-SIZED
COMPANIES
THROUGH
SUPPLY 
CHAINS.—Section 8 of such Act (12 U.S.C. 635g), as 
amended by section 203 of this Act, is amended by adding 
at the end the following: 
‘‘(l) BANK SUPPORT
FOR SMALL- AND MEDIUM- 
SIZED COMPANIES THROUGH SUPPLY CHAINS.—For all 
transactions subject to congressional notification, the 
Bank shall collect information on the supply chain compa-
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nies, by employment size, using the thresholds in the Cen-
sus Bureau’s Statistics of U.S. Businesses. The Bank 
shall include a summary of the supply chain data in its 
annual report to the Congress under subsection (a).’’. 
SEC. 205. MEDIUM-SIZED ENTERPRISES. 
Section 2(b)(1)(F) of the Export-Import Bank Act 
of 1945 (12 U.S.C. 635(b)(1)(F)) is amended to read as 
follows: 
‘‘(F) FAIR CONSIDERATION FOR MEDIUM-SIZED EN-
TERPRISES.—In addition to the programs of the Bank to 
encourage the participation of small businesses in inter-
national commerce, the policies of the Bank shall give fair 
consideration to making loans and providing guarantees 
for the export of goods and services by enterprises that 
use, or seek to use, the medium-term programs offered 
by the Bank.’’. 
SEC. 206. PARTICIPATION AND RISK-SHARING BY PRIVATE 
SECTOR LENDERS. 
Within 1 year after the date of the enactment of this 
Act, the Export-Import Bank of the United States shall 
conduct a comparative assessment of the practices of ex-
port credit agencies of other major providers of official ex-
port credit and member countries of the Organization for 
Economic Cooperation and Development with respect to 
risk- or fee-sharing arrangements, to determine the extent 
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to which the Bank could take steps to increase the share 
of loan-level risk borne by the private sector. On the con-
clusion of the assessment, the Bank shall, if warranted, 
establish programs under which private financial institu-
tions may share risk in the loans, guarantees, and other 
products of the Bank in exchange for receiving fees re-
ceived from the participants in the programs. The fees to 
a private financial institution shall be commensurate with 
the level of risk taken by the institution. 
SEC. 207. RISK-SHARING ARRANGEMENTS. 
(a) IN GENERAL.—Section 2(c)(2) of the Export-Im-
port Bank Act of 1945 (12 U.S.C. 635(c)(2)) is amend-
ed— 
(1) by striking ‘‘(2) The Bank’’ and inserting 
the following: 
‘‘(2) GUARANTEES, INSURANCE, COINSURANCE, AND 
REINSURANCE.— 
‘‘(A) IN GENERAL.—The Bank’’; and 
(2) by adding after and below the end the fol-
lowing new subparagraph: 
‘‘(B) EXPANSION OF RISK-SHARING ACTIVITIES.— 
‘‘(i) IN GENERAL.—In furtherance of subpara-
graph (A), in order to expand activities that reduce 
the share of risk borne by the Bank, the Bank may 
enter into contracts of reinsurance, co-finance, or 
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other risk-sharing arrangements on the Bank’s port-
folio or individual transactions with insurance com-
panies, financial institutions, or export credit agen-
cies. 
‘‘(ii) LIMITATION.—The total amount of out-
standing risk-sharing arrangements entered into 
under clause (i) shall not exceed $25,000,000,000. 
‘‘(iii) SPECIAL
RULE.—To the extent that a 
loan, guarantee, or insurance obligation of the Bank 
is covered by a risk-sharing arrangement entered 
into under clause (i) with a counterparty that meets 
the standards of creditworthiness set under the fol-
lowing sentence, the obligation shall be discounted 
by an amount that reflects the extent to which the 
Bank has reduced its overall risk exposure as a re-
sult of the risk-sharing arrangement for the pur-
poses of section 6(a)(1). The Bank shall set the 
standards of creditworthiness referred to in the pre-
ceding sentence in consultation with Federal banking 
and securities regulators and participants in the 
Interagency Country Risk Assessment System.’’. 
(b) PROGRESS REPORTS.—Section 8 of such Act (12 
U.S.C. 635g), as amended by sections 203 and 204(b) of 
this Act, is amended by adding at the end the following: 
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‘‘(m) PROGRESS REPORT ON EXPANSION OF RISK- 
SHARING ACTIVITIES.—The Bank shall include in its an-
nual report to the Congress under subsection (a) of this 
section a summary of— 
‘‘(1) the extent to which the Bank has exercised 
the authority provided in section 2(c)(2)(B)(i); and 
‘‘(2) the experience of the Bank in doing so, in-
cluding and any lessons learned from doing so.’’. 
SEC. 208. PROMOTING RENEWABLE ENERGY EXPORTS. 
Within 1 year after the date of enactment of this Act, 
the Export-Import Bank of the United States shall de-
velop a clear and comprehensive strategic plan to identify 
how to most effectively promote the export of goods and 
services related to renewable energy and end-use energy 
efficiency technology. The strategic plan shall include— 
(1) an assessment of the adequacy of resources, 
including the allocation of human capital and admin-
istrative funds, to meet the goal of allocating at least 
10 percent of its aggregate financing to renewable 
energy or end-use energy efficiency technology re-
lated transactions; 
(2) benchmarks used to measure progress to-
wards meeting the goal described in paragraph (1); 
(3) outreach to stakeholders including state- 
level trade promotion agencies, environmental indus-
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try associations and experts, delegated lenders, and 
others as determined by the President of the Bank 
to be appropriate; 
(4) an assessment of external and internal fac-
tors affecting progress towards meeting the 10 per-
cent portfolio-wide goal described in paragraph (1); 
and 
(5) the specific steps the Bank will take 
through fiscal year 2022 to achieve the renewable 
energy and energy efficiency goal outlined paragraph 
(1). 
TITLE III— ETHICS AND FRAUD 
CONTROLS 
SEC. 301. CODIFYING THE ROLE OF THE CHIEF RISK OFFI-
CER. 
Section 3 of the Export-Import Bank Act of 1945 
(12 U.S.C. 635a) is amended by adding at the end the 
following: 
‘‘(k) CHIEF RISK OFFICER.— 
‘‘(1) IN GENERAL.—Subject to the approval of 
the Board of Directors of the Bank, the President 
of the Bank shall appoint, from among individuals 
with experience at a senior level in financial risk 
management, a Chief Risk Officer— 
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‘‘(A) who shall rank not lower than senior 
vice president; 
‘‘(B) whose sole function shall be to serve 
as the chief risk officer of the Bank; and 
‘‘(C) who shall report directly to the Presi-
dent of the Bank. 
‘‘(2) DUTIES.—The Chief Risk Officer shall de-
velop, implement, and manage a comprehensive proc-
ess for identifying, assessing, monitoring, and reduc-
ing Bank-wide risk.’’. 
SEC. 302. REPORTS ON ETHICS REQUIREMENTS OF THE 
BANK. 
Within 180 days after the date of the enactment of 
this Act— 
(1) the Export-Import Bank of the United 
States 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 a report which provides a detailed de-
scription of the ethics programs of the Bank includ-
ing the applicable laws and regulations, ethics train-
ing programs, financial disclosure requirements, 
fraud detection training programs, advice rendered 
on ethics, conflicts of interest, protocols with the In-
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SEC. 604. MODERNIZING THE DISCLOSURE OF ENVIRON-
MENTAL REPORTS. 
Section 11 of the Export-Import Bank Act of 1945 
(12 U.S.C. 635i–5) is amended— 
(1) in subsection (a)(1), by striking ‘‘Such pro-
cedures shall provide for the public disclosure of en-
vironmental assessments and supplemental environ-
mental reports required to be submitted to the 
Bank, including remediation or mitigation plans and 
procedures, and related monitoring reports.’’ and in-
serting ‘‘Such procedures shall provide for the public 
disclosure on the Bank’s website, of environmental 
assessments and supplemental environmental reports 
required to be submitted to the Bank, including re-
mediation or mitigation plans and procedures, and 
related monitoring reports. This public disclosure 
shall be provided within 15 business days after the 
Bank receives the documents.’’; and 
(2) in subsection (b)— 
(A) by striking ‘‘(b)’’ and all that follows 
through ‘‘The Bank’’ and inserting the fol-
lowing: 
‘‘(b) USE OF BANK PROGRAMS TO ENCOURAGE CER-
TAIN EXPORT.—The Bank’’; and 
(B) by striking paragraph (2). 
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