I 
112TH CONGRESS 
2D SESSION 
H. R. 4302 
To reauthorize the Export-Import Bank of the United States. 
IN THE HOUSE OF REPRESENTATIVES 
MARCH 29, 2012 
Mr. LARSEN of Washington (for himself and Mr. MANZULLO) introduced the 
following bill; which was referred to the Committee on Financial Services 
A BILL 
To reauthorize the Export-Import Bank of the United States. 
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 ‘‘Export-Import Bank 
Reauthorization Act of 2012’’. 
SEC. 2. EXTENSION OF AUTHORITY. 
Section 7 of the Export-Import Bank Act of 1945 
(12 U.S.C. 635f) is amended by striking ‘‘2011’’ and in-
serting ‘‘2015’’. 
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SEC. 3. FOREIGN CREDIT INSURANCE ASSOCIATION. 
Section 2(b)(1) of the Export-Import Bank Act of 
1945 (12 U.S.C. 635(b)(1)) is amended by striking sub-
paragraph (F). 
SEC. 4. 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 
subclauses (II), (III), (V), (VI), (VIII), and (IX) as sub-
clauses (I), (II), (III), (IV), (V), and (VI), respectively. 
SEC. 5. 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 ‘‘2015’’. 
SEC. 6. AGGREGATE LOAN, GUARANTEE, AND INSURANCE 
AUTHORITY. 
Section 6(a)(2) of the Export-Import Bank Act of 
1945 (12 U.S.C. 635e(a)(2)) is amended— 
(1) by striking ‘‘and’’ at the end of subpara-
graph (D); 
(2) by striking ‘‘2011,’’ at the end of subpara-
graph (E) and inserting ‘‘2011, $100,000,000,000;’’; 
and 
(3) by adding at the end the following: 
‘‘(F) 
during 
fiscal 
year 
2012, 
$110,000,000,000; 
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‘‘(G) 
during 
fiscal 
year 
2013, 
$120,000,000,000; 
‘‘(H) 
during 
fiscal 
year 
2014, 
$130,000,000,000; and 
‘‘(I) 
during 
fiscal 
year 
2015, 
$140,000,000,000.’’. 
SEC. 7. 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 ‘‘2015’’. 
SEC. 8. MODIFICATIONS TO PROVISIONS RELATING TO TEX-
TILES. 
(a) REPRESENTATION OF THE TEXTILE INDUSTRY 
ON ADVISORY COMMITTEE.—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 govern-
ment’’ and inserting ‘‘State government, and the textile 
industry’’. 
(b) ANNUAL REPORT REGARDING TEXTILE AND AP-
PAREL GOODS.—Section 8 of the Export-Import Bank Act 
of 1945 (12 U.S.C. 635g) is amended by adding at the 
end the following new subsection: 
‘‘(g) TEXTILE
AND APPAREL SUPPLY CHAIN FI-
NANCING.—The Bank shall include in its annual report 
to the Congress— 
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‘‘(1) a description of the efforts of the Bank to 
provide financing to the United States textile and 
apparel industry for exports of textile and apparel 
goods manufactured in the United States that are 
used as components in global textile and apparel 
supply chains; and 
‘‘(2) the amount of support the Bank provided 
for the export of textiles and apparel goods for each 
of the 3 years preceding the report.’’. 
SEC. 9. REVIEW AND REPORT ON DOMESTIC CONTENT POL-
ICY. 
(a) IN GENERAL.—The Export-Import Bank of the 
United States shall conduct a review of its domestic con-
tent policy for medium- and long-term transactions. The 
review shall examine and evaluate the effectiveness of the 
Bank’s policy— 
(1) in maintaining and creating jobs in the 
United States; and 
(2) in contributing to a stronger national econ-
omy through the export of goods and services. 
(b) FACTORS TO CONSIDER.—In conducting the re-
view under subsection (a), the Bank shall consider the fol-
lowing: 
(1) Whether the domestic content policy accu-
rately captures the costs of United States production 
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of goods and services, including the direct and indi-
rect costs of manufacturing costs, parts, compo-
nents, materials and supplies, research, planning, 
engineering, design, development, production, return 
on investment, marketing and other business costs 
and the effect of such policy on the maintenance and 
creation of jobs in the United States. 
(2) The ability of the Bank to provide financing 
that is competitive with the financing provided by 
foreign export credit agencies and the impact that 
such financing has in enabling companies with oper-
ations in the United States to contribute to a 
stronger United States economy by increasing em-
ployment through the export of goods and services. 
(3) The effects of the domestic content policy 
on the manufacturing and service workforce of the 
United States. 
(4) Any recommendations the members of the 
Bank’s Advisory Committee have regarding the 
Bank’s domestic content policy. 
(5) The effect that changes to the Bank’s do-
mestic content requirements would have in providing 
companies an incentive to create and maintain oper-
ations in the United States and to increase jobs in 
the United States. 
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(c) REPORT.—Not later than 1 year after the date 
of the enactment of this Act, the Bank shall submit a re-
port on the results of the review conducted under this sec-
tion to the Committee on Banking, Housing, and Urban 
Affairs of the Senate, and the Committee on Financial 
Services of the House of Representatives. 
SEC. 10. STRATEGIC PLAN. 
Section 8 of the Export-Import Bank Act of 1945 
(12 U.S.C. 635g), as amended by section 8, is further 
amended by adding at the end the following new sub-
section: 
‘‘(h) STRATEGIC PLAN FOR THE BANK.— 
‘‘(1) IN GENERAL.—The Bank shall include in 
its annual report to the Congress under subsection 
(a) of this section, not less than every 4 years, be-
ginning in 2012, a 5-year strategic plan that pro-
vides— 
‘‘(A) a comprehensive mission statement 
covering the major functions and operations of 
the Bank; 
‘‘(B) general goals and objectives, includ-
ing outcome-oriented goals, for the major func-
tions of the Bank; 
‘‘(C) a description of the Bank’s highest- 
priority goals and how they can be achieved 
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within the 5-year plan period, according to 
clearly defined milestones; and 
‘‘(D) a description of how the goals and 
objectives incorporate views and suggestions ob-
tained through congressional consultations; 
‘‘(2) PROGRESS.—The progress the Bank is 
making in meeting the milestones established by the 
strategic plan shall be updated in each annual report 
the Bank submits to the Congress. 
‘‘(3) AVAILABILITY OF ANNUAL REPORT.—The 
Bank shall make its annual report available on its 
public website.’’. 
SEC. 11. REVIEW AND REPORT ON BANK’S INFORMATION 
TECHNOLOGY INFRASTRUCTURE. 
(a) IN GENERAL.—Not later than 180 days after the 
date of the enactment of this Act, the Export-Import 
Bank of the United States shall conduct a review of the 
Bank’s information technology infrastructure and report 
to Congress on— 
(1) how the Bank will modernize and continue 
to maintain the technology infrastructure, taking 
into consideration commercially available tech-
nologies or other cost-saving measures; and 
(2) how modernization, maintenance, and other 
cost-saving measures will result— 
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(A) in improved service delivery to cus-
tomers of the Bank; 
(B) in generally improving the Bank’s per-
formance; and 
(C) in mitigating taxpayer exposure to 
losses. 
SEC. 12. STUDY BY THE COMPTROLLER GENERAL ON RISK 
MANAGEMENT. 
(a) IN GENERAL.—Not later than 18 months after 
the date of the enactment of this Act, the Comptroller 
General of the United States shall complete and submit 
to the Export-Import Bank of the United States, the Com-
mittee on Banking, Housing, and Urban Affairs of the 
Senate, and the Committee on Financial Services of the 
House of Representatives a report— 
(1) on the financial position of the Bank and 
the risks it poses for American taxpayers; and 
(2) that contains recommendations to the Bank 
on how to properly account for risk and ensure the 
solvency of the Bank. 
(b) REPORT.—The report submitted under subsection 
(a) shall evaluate— 
(1) the effectiveness of the Bank’s risk manage-
ment; 
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(2) the adequacy of the Bank’s loan loss re-
serves; 
(3) the exposure and potential for exposure to 
losses from each of the products offered by the 
Bank; 
(4) the overall risk of the Bank’s portfolio, tak-
ing into account— 
(A) market risk; 
(B) credit risk; 
(C) political risk; 
(D) industry-concentration risk; 
(E) geographic-concentration risk; 
(F) obligor-concentration risk; and 
(G) foreign-currency risk; 
(5) the Bank’s use of historical default and re-
covery rates to calculate future program costs, tak-
ing into consideration cost estimates determined 
under the Federal Credit Reform Act of 1990 (2 
U.S.C. 661 et seq.) and whether discount rates ap-
plied to cost estimates should reflect the risks de-
scribed in paragraph (4); 
(6) the fees charged by the Bank for the prod-
ucts the Bank offers, whether the Bank’s fees prop-
erly reflect the risks described in paragraph (4), and 
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how the fees are affected by United States participa-
tion in international agreements; and 
(7) whether the Bank’s loan loss reserves policy 
is sufficient to cover the risks described in para-
graph (4). 
(c) RECOMMENDATIONS
AND
REPORT
BY
THE 
BANK.—If the Bank does not adopt the recommendations 
provided under subsection (a) by the Comptroller General, 
the Bank shall submit to Congress, not later than 60 days 
after the Bank receives the report, a report on why the 
Bank has not adopted the recommendations. 
SEC. 13. RENEWABLE ENERGY AND ENERGY EFFICIENCY 
TECHNOLOGIES. 
(a) IN GENERAL.—The Export-Import Bank of the 
United States should work to increase the export of renew-
able energy technologies and end-use energy efficiency 
technologies with a goal of significantly expanding, year- 
after-year, the Bank’s annual aggregate loan, guarantee, 
and insurance authorizations supporting those tech-
nologies. 
(b) INCREASED REPORTING REQUIREMENTS.—The 
Export-Import Bank of the United States shall include in 
its annual report to the Congress an analysis of any bar-
riers to realizing the Bank’s congressional directive to in-
crease the Bank’s financing for renewable energy tech-
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nology and end-use energy efficiency technology and any 
tools the Bank needs to assist the Bank in overcoming 
those barriers. The analysis shall include barriers such 
as— 
(1) inadequate staffing; 
(2) inadequate financial products; 
(3) lack of capital authority; and 
(4) limitations imposed by domestic markets. 
SEC. 14. TRANSPARENCY AND ACCOUNTABILITY OF BANK 
FINANCING. 
Section 2(b) of the Export-Import Bank Act of 1945 
(12 U.S.C. 635(b)) is amended by inserting after para-
graph (3) the following new paragraph: 
‘‘(3A) TRANSPARENCY
AND ACCOUNTABILITY
OF 
BANK FINANCING.— 
‘‘(A) PREAPPROVAL
NOTICE.—Not later than 
14 days before any meeting of the Board of Direc-
tors for final approval of a transaction the value of 
which exceeds $100,000,000, and concurrent with 
any statement required to be submitted under para-
graph (3) with respect to the transaction, the Bank 
shall post a notice on the Bank’s website that in-
cludes— 
‘‘(i) a description of the transaction pro-
posed to be financed; 
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‘‘(ii) the identities of the obligor, principal 
supplier, and guarantor involved in the trans-
action; and 
‘‘(iii) a description of any item with respect 
to which Bank financing is being sought. 
‘‘(B) MANNER OF DISCLOSURE.—Any informa-
tion required to be disclosed under subparagraph 
(A) shall be disclosed in a manner that does not dis-
close any information that is confidential or propri-
etary business information, that would violate sec-
tion 1905 of title 18, United States Code (commonly 
referred to as the ‘Trade Secrets Act’), or that 
would jeopardize jobs in the United States by sup-
plying information which competitors could use to 
compete with companies in the United States. 
‘‘(C) POST CONSIDERATION.—Not later than 30 
days after the final approval of a transaction the 
value of which exceeds $100,000,000, the Bank shall 
post a notice on the Bank’s website that includes the 
information required under subparagraph (A) in a 
manner that complies with subparagraph (B).’’. 
SEC. 15. ANNUAL COMPETITIVENESS REPORT. 
Section 8A(a) of the Export-Import Bank Act of 
1945 (12 U.S.C. 635g–1(a)) is amended by adding at the 
end the following: 
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‘‘(11) CASE PROCESSING.—A separate section 
detailing the Bank’s annual survey of exporters, fi-
nancial institutions, and brokers regarding the 
Bank’s processing of transactions, timeliness in re-
viewing transactions and processing applications, ad-
herence to financial standards, clarity and ease of 
use of applications, and general customer service 
during the application and approval process for each 
of the Bank’s major programs. 
‘‘(12) OPERATIONS.—A separate section detail-
ing the Bank’s annual survey of exporters, financial 
institutions, and brokers regarding the Bank’s docu-
mentation requirements, certifications, and proc-
essing of applications for medium- and long-term 
program transactions compared to the processing of 
applications by other export credit agencies. 
‘‘(13) PROCESS IMPROVEMENT.—A description 
of the recommendations made by the Bank’s Advi-
sory Committee and the advisory committee on Sub- 
Saharan Africa established under section 2(b)(9)(B) 
regarding improving the Bank’s processing of trans-
actions and customer service. The Bank shall make 
every reasonable effort to act on the recommenda-
tions of the advisory committees and shall include a 
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separate section detailing the actions taken by the 
Bank to comply with the recommendations.’’. 
SEC. 16. PROHIBITIONS ON FINANCING FOR CERTAIN PER-
SONS INVOLVED IN SANCTIONABLE ACTIVI-
TIES WITH RESPECT TO IRAN. 
(a) PROHIBITION
ON FINANCING
FOR PERSONS 
THAT
ENGAGE
IN
CERTAIN
SANCTIONABLE
ACTIVI-
TIES.— 
(1) IN GENERAL.—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, 
to a person in connection with the exportation of any 
good or service unless the person makes the certifi-
cation described in paragraph (2). 
(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— 
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(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 
in an activity described in subparagraph (A), 
that— 
(i) in the case of an activity described 
in subparagraph (A)(i)— 
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(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 
(BB) the Secretary of State has 
issued an advisory opinion to that per-
son that the person meets such cri-
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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 FINANCINGS.—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-
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 
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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). 
(2) CONTROLLING SPONSOR.—The term ‘‘con-
trolling sponsor’’ means a person providing control-
ling direct private equity investment (excluding in-
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vestments made through publicly held investment 
funds, publicly held securities, public offerings, or 
similar public market vehicles) in connection with a 
financing. 
Æ 
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