SEC. 7. EXTENSION OF AUTHORITY. 
Section 1(c) of Public Law 103–428 (12 U.S.C. 635 
note) is amended by striking ‘‘2001’’ and inserting 
‘‘2011’’. 
SEC. 8. TRANSPARENCY INITIATIVES. 
(a) FREQUENCY OF MEETINGS.—Section 3(c) of the 
Export-Import Bank Act of 1945 (12 U.S.C. 635a(c)) is 
amended by adding at the end the following: 
‘‘(9) The Board of Directors shall meet not less fre-
quently than biweekly.’’. 
(b) VOTING REQUIRED IN CASES INVOLVING ECO-
NOMIC IMPACT ANALYSIS.—Section 2(e) of such Act (12 
U.S.C. 635(e)) is amended by adding at the end the fol-
lowing: 
‘‘(5) BOARD VOTE REQUIRED.—Within 60 days 
after completing a review, pursuant to this sub-
section, of a proposed loan or guarantee (including 
any applicable comment period), the Board of Direc-
tors shall hold a vote to determine whether or not 
to proceed with the proposed loan or guarantee, un-
less the applicant has withdrawn the application for 
the loan or guarantee.’’. 
(c) PROCESS FOR NOTIFYING APPLICANTS OF APPLI-
CATION STATUS.—Section 2 of such Act (12 U.S.C. 635) 
is amended by adding at the end the following: 
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‘‘(g) PROCESS FOR NOTIFYING APPLICANTS OF AP-
PLICATION STATUS.—The Bank shall establish and ad-
here to a clearly defined process for— 
‘‘(1) acknowledging receipt of applications; 
‘‘(2) informing applicants that their applica-
tions are complete or, if incomplete or containing a 
minor defect, of the additional material or changes 
that, if supplied or made, would make the applica-
tion eligible for consideration; and 
‘‘(3) keeping applicants informed of the status 
of their applications, including a clear and timely no-
tification of approval or disapproval, and, in the case 
of disapproval, the reason for disapproval, as appro-
priate.’’. 
(d) RESPONSE TO APPLICATION FOR FINANCING; IM-
PLEMENTATION OF ON-LINE LOAN REQUEST AND TRACK-
ING PROCESS.—Section 2 of such Act (12 U.S.C. 635) 
is further amended by adding at the end the following: 
‘‘(h) Within 45 days after receipt of an application 
for financing from the Bank, the Bank shall notify the 
applicant that the application has been received, and shall 
include in the notice a request for such additional informa-
tion as may be necessary to make the application com-
plete, the name of a Bank employee who may be contacted 
with questions relating to the application, and a unique 
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identification number which may be used to review the sta-
tus of the application at a website established as provided 
in the next sentence. Not later than September 1, 2006, 
the Bank shall use the authorities provided by subpara-
graphs (E)(ix) and (J) of subsection (b)(1) of this section 
to establish, and thereafter to maintain, a website through 
which any Bank product may be applied for, information 
may be obtained about the status of any such application, 
about the small business division of the Bank, or about 
incentives, preferences, targets, and goals relating to small 
business concerns referred to in section 3(f)(4)(A) or small 
business concerns exporting to Africa.’’. 
(e) REPORTS RELATING TO TECHNOLOGY TO ASSIST 
SMALL BUSINESSES.— 
(1) REPORTS BY THE BANK.— 
(A) INITIAL
REPORT.—Within 60 days 
after the date of the enactment of this Act, the 
President of the Export-Import Bank of the 
United States shall submit to the Committee on 
Financial Services of the House of Representa-
tives and the Committee on Banking, Housing, 
and Urban Affairs of the Senate a report on— 
(i) the efforts made by the Bank to 
carry out subparagraphs (E)(ix) and (J) of 
section 2(b)(1) of the Export-Import Bank 
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Act of 1945, including the total amount 
expended by the Bank to do so; and 
(ii) if the Bank has been unable to 
comply with such subparagraphs— 
(I) an analysis of the reasons 
therefor; 
(II) what the Bank is doing to 
achieve, and the date by which the 
Banks expects to have achieved, such 
compliance; and 
(III) the name of each Bank offi-
cer who is responsible for ensuring 
that the Bank achieves, and the name 
of the person to whom the Bank offi-
cer reports on progress in achieving, 
such compliance. 
(B) SUBSEQUENT
ANNUAL
REPORTS.— 
Section 8(c) of the Export-Import Bank Act of 
1945 (12 U.S.C. 635g(c)) is amended to read 
as follows: 
‘‘(c) TECHNOLOGY TO ASSIST SMALL BUSINESSES.— 
The Bank shall include in its annual report to the Con-
gress under subsection (a) of this section for each of fiscal 
years 2007 through 2011 a separate section that con-
tains— 
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‘‘(1) a report on the efforts made by the Bank 
to carry out subparagraphs (E)(ix) and (J) of sec-
tion 2(b)(1) of this Act, the total amount expended 
in the fiscal year to do so, and how the efforts are 
assisting small business concerns (as defined under 
section 3(a) of the Small Business Act); and 
‘‘(2) if the Bank has been unable to comply 
fully with such subparagraphs— 
‘‘(A) an analysis of the reasons therefor; 
‘‘(B) a description of what the Bank is 
doing to achieve, and the date by which the 
Banks expects to have achieved, such full com-
pliance; and 
‘‘(C) the name of each Bank officer who is 
responsible for ensuring that the Bank achieves, 
and the name of the person to whom the Bank 
officer reports on progress in achieving, such 
full compliance.’’. 
(2) REPORT BY THE INSPECTOR GENERAL OF 
THE BANK.—Within 120 days after the date of the 
enactment of this Act or, if later, within 30 days 
after the date the vacancy in the position of the In-
spector General of the Export-Import Bank of the 
United States is filled, the Inspector General of the 
Export-Import Bank of the United States shall sub-
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