I 
112TH CONGRESS 
1ST SESSION H. R. 2072 
To reauthorize the Export-Import Bank of the United States, and for other 
purposes. 
IN THE HOUSE OF REPRESENTATIVES 
JUNE 1, 2011 
Mr. GARY G. MILLER of California (for himself, Mr. BACHUS, Mr. FRANK of 
Massachusetts, and Mrs. MCCARTHY of New York) introduced the fol-
lowing bill; which was referred 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; TABLE OF CONTENTS. 
(a) SHORT TITLE.—This Act may be cited as the 
‘‘Securing American Jobs Through Exports Act of 2011’’. 
(b) TABLE OF CONTENTS.—The table of contents of 
this Act is as follows: 
Sec. 1. Short title; table of contents. 
Sec. 2. Findings; statement of purpose. 
Sec. 3. Extension of authority. 
Sec. 4. Limitations on outstanding loans, guarantees, and insurance. 
Sec. 5. Content guidelines for the provision of Bank financing. 
Sec. 6. Biennial audits of Bank transactions. 
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(12) Since 1934, the net loss rate for all 
long-, medium-, and short-term loans made by the 
Export-Import Bank of the United States is 1.5 per-
cent. 
(13) The Export-Import Bank of the United 
States has been a self-sustaining institution since 
fiscal year 2008, and surpluses of the Bank are re-
mitted to the United States Treasury. From fiscal 
years 2008 through 2010, the Bank generated a 
surplus of $551,000,000. 
(14) In fiscal year 2010, the Export-Import 
Bank of the United States provided a record 
$5,000,000,000 directly supporting United States 
small business exporters through 3,091 transactions, 
representing 20 percent of the total value of the 
Bank’s authorizations and nearly 88 percent of the 
total number of the Bank’s authorizations. 
(b) STATEMENT OF PURPOSE.—The purpose of this 
Act is to reauthorize the activities and operations of the 
Export-Import Bank of the United States to ensure that 
the Bank provides financing, when commercial banks are 
unable or unwilling to do so, competitive with the financ-
ing provided by foreign export credit agencies, in order 
to enable United States companies to contribute to a 
stronger national economy by maintaining or increasing 
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the employment of workers in the United States through 
the export of goods and services. 
SEC. 3. 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’’. 
SEC. 4. 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— 
(1) in subparagraph (D), by striking ‘‘and’’; 
(2) in subparagraph (E), by striking the comma 
at the end and inserting a semicolon; and 
(3) by adding at the end the following: 
‘‘(F) 
during 
fiscal 
year 
2012, 
$120,000,000,000; 
‘‘(G) 
during 
fiscal 
year 
2013, 
$140,000,000,000; and 
‘‘(H) during fiscal year 2014 and each fiscal 
year thereafter, $160,000,000,000.’’. 
SEC. 5. CONTENT GUIDELINES FOR THE PROVISION OF 
BANK FINANCING. 
Section 2 of the Export-Import Bank Act of 1945 
(12 U.S.C. 635) is amended by adding at the end the fol-
lowing: 
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‘‘(i) CONTENT GUIDELINES FOR THE PROVISION OF 
FINANCING.— 
‘‘(1) IN GENERAL.—The Bank shall, after no-
tice and comment and Board approval, establish 
clear and comprehensive guidelines with respect to 
the content of the goods and services involved in a 
transaction for which the Bank will provide financ-
ing, which shall be aimed at ensuring that the Bank 
enables companies with operations in the United 
States to maintain and create jobs in the United 
States and contribute to a stronger national econ-
omy through the export of their goods and services. 
‘‘(2) REQUIRED
CONSIDERATIONS.—In estab-
lishing the guidelines, the Bank shall take into ac-
count such considerations as the Bank deems rel-
evant to meet the purposes described in paragraph 
(1), including the following: 
‘‘(A) The needs of different industry sec-
tors to obtain financing from the Bank for ex-
porting their products or services in order to 
create and maintain jobs in the United States. 
‘‘(B) The ability of companies with oper-
ations in the United States to compete effec-
tively for export opportunities that will create 
and maintain jobs in the United States, par-
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ticularly with respect to the Bank’s content re-
quirements and co-financing arrangements. 
‘‘(C) The totality of support, including fi-
nancing and subsidies, extended by export cred-
it agencies to support the exports of goods and 
services, as well as key differences in, types of 
trade-offs among, and national trade promotion 
strategies of OECD member countries and of 
non-OECD member countries. 
‘‘(D) Recommendations from the advisory 
committee established under section 3(d), in-
cluding any dissenting views. 
‘‘(E) Any findings or recommendations of 
the Government Accountability Office per-
taining to the ability of the Bank to provide fi-
nancing that is competitive with the financing 
provided by foreign export credit agencies, to 
enable companies with operations in the United 
States to contribute to a stronger United States 
economy by maintaining or increasing the em-
ployment of workers in the United States 
through the export of goods and services. 
‘‘(F) The effects of the guidelines on the 
manufacturing workforce and service workforce 
of the United States. 
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‘‘(G) The effect of changes to current 
Bank content requirements on the incentive for 
companies to create and maintain operations in 
the United States in order to increase the em-
ployment of workers in the United States. 
‘‘(3) SEPARATE GUIDELINES.— 
‘‘(A) The Bank may establish separate 
guidelines under this subsection for services and 
for goods. 
‘‘(B) The Bank may establish separate 
guidelines under this subsection for small busi-
ness concerns (as defined in section 3(a) of the 
Small Business Act). 
‘‘(C) The Bank may continue separate 
guidelines under this subsection with respect to 
different terms and products. 
‘‘(4) CERTIFICATION THAT DOMESTIC CONTENT 
HAS NOT BEEN REDUCED BECAUSE OF THE GUIDE-
LINES.—In determining whether to provide financ-
ing for a proposed transaction, the exporter shall 
certify that the domestic content of a good has not 
been reduced solely as a result of the guidelines. 
‘‘(5) PROCEDURAL
PROVISIONS.—Within 60 
days after the date of the enactment of this Act, the 
Bank shall publish a notice with respect to the 
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issuance or modification of guidelines under this 
subsection. Within 60 days after the end of the pub-
lic comment period otherwise required by law with 
respect to the issuance or modification of the guide-
lines, the Bank shall submit to the Congress, for its 
review, the guidelines in proposed final form. At the 
end of the 30-day period that begins with the date 
the proposed final guidelines are so submitted, the 
proposed final guidelines shall be considered a final 
agency action for all purposes and shall take effect 
and be implemented immediately. 
‘‘(6) TERM.—Every 2 years, the Bank shall re-
view and, as appropriate, modify the guidelines, sub-
ject to paragraph (5). 
‘‘(7) REPORT
TO
CONGRESS.—Within 1 year 
after the implementation of new or modified guide-
lines under this subsection, the Inspector General of 
the Bank shall submit to the Congress a report eval-
uating the guidelines, which shall include— 
‘‘(A) a discussion of the considerations re-
quired to be taken into account in establishing 
the guidelines, a comparison of how the guide-
lines reflect each consideration, and a descrip-
tion of the extent to which the guidelines en-
abled companies with operations in the United 
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States who submitted an application for financ-
ing from the Bank to maintain and create jobs 
in the United States and contribute to a strong-
er national economy through the export of their 
goods and services; 
‘‘(B) a description of the effect of the 
guidelines on the number of domestic jobs to be 
supported, the kinds of domestic jobs to be sup-
ported, including their duration and geographic 
location, and the existence and nature of any 
transfers of technology or production; and 
‘‘(C) recommendations for how the guide-
lines could be modified to better facilitate ex-
ports of goods and services from the United 
States in order to maintain and create jobs in 
the United States and contribute to a stronger 
national economy.’’. 
SEC. 6. BIENNIAL AUDITS OF BANK TRANSACTIONS. 
Section 2 of the Export-Import Bank Act of 1945 
(12 U.S.C. 635), as amended by section 5 of this Act, 
is amended by adding at the end the following: 
‘‘(j) AUDITS
OF BANK TRANSACTIONS.—Every 2 
years, the Comptroller General of the United States, in 
consultation with Inspector General of the Bank, shall 
audit a representative sample of Bank transactions to en-
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sure that Bank underwriting, policies, due diligence, and 
content guidelines are met by applicants who receive Bank 
support.’’. 
SEC. 7. USE OF PORTION OF BANK SURPLUS TO UPDATE IN-
FORMATION TECHNOLOGY SYSTEMS. 
Section 3 of the Export-Import Bank Act of 1945 
(12 U.S.C. 635a) is amended by adding at the end the 
following: 
‘‘(j) AUTHORITY TO USE PORTION OF BANK SUR-
PLUS TO UPDATE INFORMATION TECHNOLOGY SYS-
TEMS.— 
‘‘(1) IN GENERAL.—Subject to paragraphs (3) 
and (4), the Bank may use an amount equal to 1.25 
percent of the surplus of the Bank during each fiscal 
year to— 
‘‘(A) seek to remedy any of the operational 
weakness and risk management vulnerabilities 
of the Bank which are the result of the infor-
mation technology system of the Bank; 
‘‘(B) remedy data fragmentation, enhance 
information flow throughout the Bank, and 
manage data across the Bank; and 
‘‘(C) enhance the operational capacity and 
risk management capabilities of the Bank to 
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better enable the Bank to increase exports and 
grow jobs while protecting the taxpayer. 
‘‘(2) SURPLUS.—In paragraph (1), the term 
‘surplus’ means the amount (if any) by which— 
‘‘(A) the sum of the interest and fees col-
lected by the Bank; exceeds 
‘‘(B) the sum of— 
‘‘(i) the funds set aside to cover ex-
pected losses on transactions financed by 
the Bank; and 
‘‘(ii) the costs incurred to cover the 
administrative expenses of the Bank. 
‘‘(3) 
LIMITATION.—The 
aggregate 
of 
the 
amounts used in accordance with paragraph (1) for 
all fiscal years shall not exceed $20,000,000. 
‘‘(4) SUBJECT TO APPROPRIATIONS.—The au-
thority provided by paragraph (1) may be exercised 
only to such extent and in such amounts as are pro-
vided in advance in appropriations Acts.’’. 
SEC. 8. MONITORING OF DEFAULT RATES ON BANK FI-
NANCING; REPORTS ON DEFAULT RATES. 
Section 8 of the Export-Import Bank Act of 1945 
(12 U.S.C. 635g) is amended by adding at the end the 
following: 
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‘‘(g) MONITORING OF DEFAULT RATES ON BANK FI-
NANCING; REPORTS ON DEFAULT RATES.— 
‘‘(1) MONITORING OF DEFAULT RATES.—Not 
less frequently than quarterly, the Bank shall cal-
culate the rate at which the entities to which the 
Bank has provided short-, medium-, or long-term fi-
nancing are in default on a payment obligation 
under the financing, by dividing the total amount of 
the required payments that are overdue by the total 
amount of the financing involved. 
‘‘(2) REPORTS.—Within 45 days after a rate 
calculated under paragraph (1) equals or exceeds 2 
percent, the Bank shall submit to the Congress a 
written report that explains the circumstances that 
have caused the default rate to equal or exceed 2 
percent, and includes a plan to reduce the default 
rate to less than 2 percent.’’. 
SEC. 9. SENSE OF THE CONGRESS REGARDING BANK AC-
COUNTABILITY. 
It is the sense of the Congress that— 
(1) the Board of Directors of the Export-Im-
port Bank of the United States (in this section re-
ferred to as the ‘‘Bank’’) should establish a formal, 
transparent, and independent accountability mecha-
nism that would review, investigate, and report on 
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allegations by affected parties of failure of the Bank 
to follow its own policies and procedures, including 
situations where the Bank is alleged to have failed 
in its follow-up on the borrower’s obligations in fi-
nancing agreements with respect to such policies and 
procedures; 
(2) such an accountability mechanism should be 
able to provide advice to management on policies, 
procedures, guidelines, resources, and systems estab-
lished to ensure adequate review and monitoring of 
projects; 
(3) in carrying out its mandate, the confiden-
tiality of sensitive business information should be re-
spected, and, in consultation with affected parties, 
project sponsors, and Bank management, a flexible 
process should be followed aimed primarily at cor-
recting project failures and achieving better results 
on the ground; and 
(4) the accountability mechanism should be 
independent of the line operations of management, 
and report its findings and recommendations directly 
to the Board of Directors of the Bank. 
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