foreign government that are not party to the Ar-
rangement; and’’; and 
(B) in paragraph (6)— 
(i) in the matter preceding subpara-
graph (A), by inserting ‘‘including those 
that are not a party to the Arrangement’’ 
after ‘‘countries’’; 
(ii) in subparagraph (B), by adding 
‘‘and’’ at the end; and 
(iii) by inserting after subparagraph 
(B) the following: 
‘‘(C) promoting compliance with Arrange-
ment rules among foreign export credit agencies 
that are not a party to the Arrangement,’’; and 
(2) in subsection (b)— 
(A) in paragraph (2)(A), by striking ‘‘in 
consultation with the Secretary and’’; and 
(B) in paragraph (5)— 
(i) in subparagraph (A), by striking 
‘‘Secretary and the Bank jointly’’ and in-
serting ‘‘Bank’’; 
(ii) in subparagraph (B)— 
(I) in clause (i)— 
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(aa) in the matter preceding 
subclause (I), by striking ‘‘Sec-
retary and the’’; 
(bb) in subclause (I), by in-
serting ‘‘, and to bring into the 
Arrangement those countries that 
are not a party to the Arrange-
ment’’ before the period; and 
(cc) in subclause (III), by 
adding at the end the following 
‘‘In cases where information about 
a specific offer of foreign tied aid 
(or untied aid used to promote ex-
ports as if it were tied aid) is not 
available in a timely manner, or 
is unavailable because the foreign 
export credit agency involved is 
not subject to the reporting re-
quirements under the Arrange-
ment, then the Bank may decide 
to use the Tied Aid Credit Fund 
based on credible evidence of a 
history of such offers under simi-
lar circumstances or other forms 
of credible evidence.’’; and 
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(II) in clause (ii), by adding at 
the end the following: ‘‘The President 
of the United States shall notify the 
Congress of such a determination with-
in 30 days, including an explanation 
for the determination.’’; 
(iii) in subparagraph (C), by striking 
‘‘the Secretary and’’; and 
(iv) in subparagraph (E), by striking 
‘‘Secretary and the Bank jointly’’ and in-
serting ‘‘Bank’’. 
(d) EXPANSION OF COUNTRIES IN COMPETITION WITH 
WHOM THE BANK IS TO PROVIDE EXPORT FINANCING.— 
Section 2(b)(1)(A) of such Act (12 U.S.C. 635(b)(1)(A)) is 
amended in the 2nd sentence by inserting ‘‘, including 
countries the governments of which are not members of the 
Arrangement (as defined in section 10(h)(3))’’ before the pe-
riod. 
(e) AUTHORITY TO SEEK USE OF MIXED FORMS OF 
CONCESSIONAL FINANCING.—Section 10 of such Act (12 
U.S.C. 635i–3) is amended by adding at the end the fol-
lowing: 
‘‘(i) AUTHORITY TO SEEK USE OF MIXED FORMS OF 
CONCESSIONAL FINANCING.—For purposes of improving the 
effects of Bank financing on development in tied aid eligible 
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markets (as defined under the Arrangement) and of improv-
ing the competitiveness of the Bank in the markets, the 
Bank shall, in consultation with United States government 
aid agencies and, as appropriate, multilateral aid institu-
tions, seek to establish, consistent with the Arrangement, a 
mixed credit program consisting of longer term financing 
and other forms of more flexible repayment terms, financing 
of transactions in local currencies, and other forms of 
concessional financing that meets the needs of the product 
sector and foreign market involved.’’. 
(f) INSTRUCTIONS REGARDING NEGOTIATION OF THE 
OECD ARRANGEMENT.—The Secretary of the Treasury 
shall instruct the designee of the Secretary to the negotia-
tion of the Arrangement (as defined in section 10(h)(3) of 
the Export-Import Bank Act of 1945) to inform the other 
participants in the negotiation that the goals of the United 
States include the following: 
(1) Seeking compliance with the Arrangement 
among countries with significant export credit pro-
grams who are not members of the Arrangement. 
(2) Seeking to identify within the World Trade 
Organization the extent to which countries that are 
not a party to the Arrangement are not in compli-
ance with the terms of the Agreement on Subsidies 
and Countervailing Measures referred to in section 
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101(d)(12) of the Uruguay Round Agreements Act (19 
U.S.C. 3511(d)(12)) in regards to export finance, and 
seeking appropriate action within the World Trade 
Organization if such a country is not in such compli-
ance. 
(3) Implementing new disciplines on the use of 
untied aid, market windows, and other forms of ex-
port finance that seek to exploit loopholes in the Ar-
rangement for purposes of obtaining a commercial 
competitive advantage. 
SEC. 11. CONSIDERATION OF ENVIRONMENTAL MATTERS 
BY THE ADVISORY COMMITTEE. 
Section 3(d) of the Export-Import Bank Act of 1945 
(12 U.S.C. 635a(d)) is amended— 
(1) in paragraph (1)— 
(A) in subparagraph (A), by striking ‘‘15’’ 
and inserting ‘‘17’’; and 
(B) in subparagraph (B), by inserting ‘‘en-
vironment,’’ before ‘‘production,’’; and 
(2) in paragraph (2), by adding at the end the 
following: 
‘‘(C) Not less than 2 members appointed to the Advi-
sory Committee shall be representative of the environmental 
nongovernmental organization community, except that no 
2 of the members shall be from the same environmental or-
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ganization. Environmental organizations represented shall 
have demonstrated experience with environmental issues as-
sociated with the Bank, the Export Credit Group of the Or-
ganization for Economic Cooperation and Development, or 
both.’’. 
SEC. 12. STUDY OF HOW EXPORT-IMPORT BANK COULD AS-
SIST UNITED STATES EXPORTERS TO MEET 
IMPORT NEEDS OF NEW OR IMPOVERISHED 
DEMOCRACIES; REPORTS. 
(a) STUDY.—The Export-Import Bank of the United 
States shall conduct a study designed to assess the needs 
of new or impoverished democracies such as Liberia and 
Haiti, for imports from the United States, and shall deter-
mine what role the Bank can play a role in helping United 
States exporters seize the opportunities presented by the 
need for such imports. 
(b) REPORTS TO THE CONGRESS.— 
(1) INTERIM REPORT.—Within 6 months after 
the date of the enactment of this Act, the Bank 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, 
in writing, an interim report that contains the results 
of the study required by subsection (a). 
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(2) FINAL REPORT.—Within 12 months after the 
date of the enactment of this Act, the Bank shall sub-
mit to the Committee on Financial Services of the 
House of Representatives and the Committee on 
Banking, Housing, and Urban Affairs of the Senate, 
in writing a final report that contains the results of 
the study required by subsection (a). 
SEC. 13. REVIEW OF ENVIRONMENTAL SCREENING RE-
QUIREMENT. 
(a) IN GENERAL.—Within 6 months after the position 
of Inspector 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 submit to the Com-
mittee on Resources and the Committee on Financial Serv-
ices of the House of Representatives, and to the Committee 
on Banking, Housing, and Urban Affairs of the Senate a 
report on the implications of limiting the requirement to 
conduct environmental screenings of projects proposed to be 
financed by the Bank to only those involving at least 
$10,000,000. 
(b) CONTENTS OF REPORT.—The report shall— 
(1) determine whether the $10,000,000 limitation 
prevents the identification of any project that may 
have an adverse effect on the environment; and 
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(2) propose guidelines for how project applica-
tions may be screened more effectively to determine 
whether a project may have such an effect. 
SEC. 14. OFFICE OF RENEWABLE ENERGY PROMOTION. 
Section 3 of the Export-Import Bank Act of 1945 (12 
U.S.C. 635a), as amended by section 4(a)(1) of this Act, 
is amended by adding at the end the following: 
‘‘(i) OFFICE OF RENEWABLE ENERGY PROMOTION.— 
‘‘(1) ESTABLISHMENT.—Within 1 year after the 
date of the enactment of this subsection, the President 
of the Bank shall establish and maintain in the Bank 
an office which shall be known as the ‘Office of Re-
newable Energy Promotion’ (in this subsection re-
ferred to as the ‘Office’). 
‘‘(2) FUNCTIONS.—The Office shall be responsible 
for proactively identifying new opportunities for re-
newable energy financing and carrying out section 
2(b)(1)(K). In carrying out its function of promoting 
renewable energy technologies, the Office should, 
among other things, consider the recommendations 
made by the Renewable Energy Export Advisory 
Committee. 
‘‘(3) STAFF.—The President of the Bank shall 
ensure that the Office has staff with appropriate ex-
pertise in renewable energy technologies. 
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‘‘(4) ANNUAL REPORTS.—The Bank shall submit 
annually to the Committee on Resources and the 
Committee on Financial Services of the House of Rep-
resentatives, and to the Committee on Banking, Hous-
ing, and Urban Affairs of the Senate, a report that 
contains, for the fiscal year covered by the report— 
‘‘(A) a detailed description of the activities 
of the Office; and 
‘‘(B) an analysis comparing the level of 
credit extended by the Bank for renewable energy 
projects with the level of credit so extended for 
the preceding fiscal year. 
‘‘(5) RENEWABLE
ENERGY
TECHNOLOGIES
DE-
FINED.—In this subsection, the term ‘renewable en-
ergy technologies’ means technologies for producing 
power through the use of solar energy, wind energy, 
and energy from biomass, fuel cells, or geothermal 
sources, and technologies for producing less than 10 
megawatts in hydropower.’’. 
SEC. 15. TRANSPARENCY. 
(a) IN GENERAL.—Section 2(e) of the Export-Import 
Bank Act of 1945 (12 U.S.C. 635(e)), as amended by section 
8(b) of this Act, is amended by adding at the end the fol-
lowing: 
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‘‘(6) PROCEDURES
TO
REDUCE
ADVERSE
EF-
FECTS OF LOANS AND GUARANTEES ON INDUSTRIES 
AND EMPLOYMENT IN UNITED STATES.— 
‘‘(A) CONSIDERATION
OF
ECONOMIC
EF-
FECTS
OF
PROPOSED
TRANSACTIONS.—If, in 
making a determination under this paragraph 
with respect to a loan or guarantee, the Bank 
conducts a detailed economic impact analysis or 
similar study, the analysis or study, as the case 
may be, shall include consideration of— 
‘‘(i) the factors set forth in subpara-
graphs (A) and (B) of paragraph (1); and 
‘‘(ii) the views of the public and inter-
ested parties. 
‘‘(B) NOTICE
AND
COMMENT
REQUIRE-
MENTS.— 
‘‘(i) IN GENERAL.—If, in making a de-
termination under this subsection with re-
spect to a loan or guarantee, the Bank in-
tends to conduct a detailed economic impact 
analysis or similar study, the Bank shall 
cause to be published in the Federal Reg-
ister a notice of the intent, and provide a 
period of not less than 14 days (which, on 
request by any affected party, shall be ex-
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tended to a period of not more than 30 
days) for the submission to the Bank of 
comments on the economic effects of the pro-
vision of the loan or guarantee. In addition, 
the Bank shall seek comments on the effects 
from the Department of Commerce, the 
International Trade Commission, the Office 
of Management and Budget, the Committee 
on Banking, Housing, and Urban Affairs of 
the Senate, and the Committee on Financial 
Services of the House of Representatives. 
‘‘(ii) CONTENT OF NOTICE.—The notice 
shall include appropriate, nonproprietary 
information about— 
‘‘(I) the name of the applicant; 
‘‘(II) the country to which the 
goods involved in the transaction will 
be shipped; 
‘‘(III) the type of goods being ex-
ported; 
‘‘(IV) the amount of the loan or 
guarantee involved; 
‘‘(V) the goods that would be pro-
duced as a result of the provision of the 
loan or guarantee; 
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‘‘(VI) the amount of increased 
production that will result from the 
transaction; 
‘‘(VII) the potential sales market 
for the resulting goods; 
‘‘(VIII) the value of the trans-
action; and 
‘‘(IX) any other relevant informa-
tion. 
‘‘(iii) PROCEDURE REGARDING MATE-
RIALLY CHANGED APPLICATIONS.— 
‘‘(I) IN GENERAL.—If a material 
change is made to an application for a 
loan or guarantee from the Bank after 
a notice with respect to the intent de-
scribed in clause (i) is published under 
this subparagraph, the Bank shall 
cause to be published in the Federal 
Register a revised notice of the intent, 
and shall provide for a comment pe-
riod, as provided in clauses (i) and 
(ii). 
‘‘(II) 
MATERIAL
CHANGE
DE-
FINED.—In subclause (I), the term 
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‘material change’, with respect to an 
application, includes— 
‘‘(aa) a change of at least 25 
percent in the amount of a loan 
or guarantee requested in the ap-
plication; and 
‘‘(bb) a change in the prin-
cipal product to be produced as a 
result of any transaction that 
would be facilitated by the provi-
sion of the loan or guarantee. 
‘‘(C) REQUIREMENT TO CONSIDER AND AD-
DRESS
VIEWS
OF
ADVERSELY
AFFECTED
PER-
SONS.—Before taking final action on an applica-
tion for a loan or guarantee from the Bank to 
which this subsection applies, the Bank shall 
consider and address in writing the views of any 
person who may be substantially adversely af-
fected by the provision of the loan or guarantee. 
‘‘(D) PUBLICATION
OF
CONCLUSIONS.— 
Within 30 days after a party affected by a final 
decision of the Board of Directors with respect to 
a loan or guarantee makes a written request 
therefor, the Bank shall provide to the affected 
party a non-confidential summary of the facts 
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found and conclusions reached in any detailed 
economic impact analysis or similar study con-
ducted pursuant to subparagraph (B) with re-
spect to the loan or guarantee, that were sub-
mitted to the Board of Directors. 
‘‘(E) RULE
OF
INTERPRETATION.—This 
paragraph shall not be construed to make sub-
chapter II of chapter 5 of title 5, United States 
Code, applicable to the Bank. 
‘‘(F) REGULATIONS.—The Bank shall im-
plement such regulations and procedures as may 
be appropriate to carry out this paragraph.’’. 
(b) CONFORMING AMENDMENT.—Section 2(e)(2)(C) of 
such Act (12 U.S.C. 635(e)(2)(C)) is amended by inserting 
‘‘of not less than 14 days (which, on request of any affected 
party, shall be extended to a period of not more than 30 
days)’’ after ‘‘comment period’’. 
SEC. 16. ANTI-CIRCUMVENTION. 
Section 2(e) of the Export-Import Bank Act of 1945 
(12 U.S.C. 635(e)), as amended by sections 8(b) and 15(a) 
of this Act, is amended— 
(1) in paragraph (1), by adding after and below 
the end the following: 
‘‘In making the determination under subparagraph 
(B), the Bank shall determine whether the facility 
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that would benefit from the extension of a credit or 
guarantee is reasonably likely to produce products in 
addition to or other than the product specified in the 
application and whether the production of the prod-
ucts may cause substantial injury to United States 
producers of the same, or a similar or competing, 
commodity.’’; 
(2) in paragraph (2), by adding at the end the 
following: 
‘‘(E) 
ANTI-CIRCUMVENTION.—The 
Bank 
shall not provide a loan or guarantee if the Bank 
determines that providing the loan or guarantee 
will facilitate circumvention of a trade law order 
or determination referred to in subparagraph 
(A).’’; and 
(3) by adding at the end the following: 
‘‘(7) 
FINANCIAL
THRESHOLD
DETERMINA-
TIONS.—For purposes of determining whether a pro-
posed transaction exceeds a financial threshold under 
this subsection or under the procedures or rules of the 
Bank, the Bank shall aggregate the dollar amount of 
the proposed transaction and the dollar amounts of 
all loans and guarantees, approved by the Bank in 
the preceding 24-month period, that involved the same 
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foreign entity and substantially the same product to 
be produced.’’. 
SEC. 17. PERFORMANCE STANDARDS APPLICABLE TO BANK 
ASSISTANCE FOR SMALL BUSINESSES, ESPE-
CIALLY THOSE OWNED BY SOCIAL AND ECO-
NOMICALLY DISADVANTAGED INDIVIDUALS 
AND THOSE OWNED BY WOMEN. 
(a) DEVELOPMENT OF PERFORMANCE STANDARDS.— 
Within 120 days after the date of the enactment of this Act, 
the Comptroller General of the United States shall develop 
and transmit to the Board of Directors of the Export-Im-
port Bank of the United States— 
(1) a set of standards which may be used to de-
termine the extent to which the Bank has carried out 
successfully subparagraphs (E) and (I) of section 
2(b)(1) of the Export-Import Bank Act of 1945, and 
the functions described in subsections (f)(1)(A), 
(f)(4)(A), and (h)(2) of section 3 of such Act; and 
(2) a set of rules for measuring the performance 
of the Bank against the standards. 
(b) REPORT ON PERFORMANCE.—Section 8 of the Ex-
port-Import Bank Act of 1945 (12 U.S.C. 635g), as amend-
ed by sections 4, 5, and 10(b) of this Act, is amended by 
adding at the end the following: 
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‘‘(j) REPORT
ON ACHIEVEMENT
OF PERFORMANCE 
STANDARDS APPLICABLE TO SMALL BUSINESS CONCERNS, 
SOCIALLY
AND ECONOMICALLY DISADVANTAGED SMALL 
BUSINESS CONERNS, AND SMALL BUSINESS CONCERNS 
OWNED BY WOMEN.—The Bank shall submit annually to 
the Congress, and include in a separate section of the an-
nual report to the Congress under subsection (a) of this sec-
tion, a report on the extent to which the Bank has carried 
out successfully subparagraphs (E) and (I) of section 
2(b)(1), and the functions described in subsections (f)(1)(A), 
(f)(4)(A), and (h)(2) of section 3, of this Act, using the per-
formance standards and measuring rules developed pursu-
ant to section 12(a) of the Export-Import Bank Reauthor-
ization Act of 2006. ’’. 
SEC. 18. PROHIBITION ON ASSISTANCE TO DEVELOP OR 
PROMOTE ANY RAIL CONNECTIONS OR RAIL-
WAY-RELATED 
CONNECTIONS 
THAT 
TRA-
VERSE OR CONNECT BAKU, AZERBAIJAN, 
TBILISI, GEORGIA, AND KARS, TURKEY, AND 
THAT SPECIFICALLY EXCLUDE CITIES IN AR-
MENIA. 
Section 2(b) of the Export-Import Bank Act of 1945 
(12 U.S.C. 635(b)) is amended by adding at the end the 
following: 
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‘‘(13) The Bank shall not guarantee, insure, extend 
credit, or participate in an extension of credit in connection 
with the development or promotion of any rail connections 
or railway-related connections that do not traverse or con-
nect with Armenia, and do traverse or connect Baku, Azer-
baijan, Tbilisi, Georgia, and Kars, Turkey.’’. 
SEC. 19. TECHNICAL CORRECTIONS. 
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 striking 
subclauses (I), (III), (VII), (VIII), and (IX), and redesig-
nating subclauses (II), (IV), (V), and (VI) as subclauses (I) 
through (IV), respectively. 
SEC. 20. EFFECTIVE DATE. 
The amendments made by this Act shall take effect on 
October 1, 2006. 
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Union Calendar No. 322 
109TH CONGRESS 
2D SESSION 
H. R. 5068 
[Report No. 109–566] 
A BILL 
To reauthorize the operations of the Export-Import 
Bank, and to reform certain operations of the 
Bank, and for other purposes. 
JULY 17, 2006 
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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