I
103D CONGRESS
1ST SESSION
H. R. 3536
To provide financial assistance for technology adaptation to promote exports.
IN THE HOUSE OF REPRESENTATIVES
NOVEMBER 18, 1993
Mr. KLEIN introduced the following bill; which was referred jointly to the
Committees on Banking, Finance and Urban Affairs and Science, Space,
and Technology
A BILL
To provide financial assistance for technology adaptation to
promote exports.
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 ‘‘Environmentally Ad-
vanced Technologies Research and Development Act’’.
SECTION 2. FINANCIAL ASSISTANCE FOR TECHNOLOGY
ADAPTATION TO PROMOTE EXPORTS.
(a) ESTABLISHMENT.—There is established a revolv-
ing fund to be known as the Environmental Technology
Export Revolving Fund for the purpose of providing finan-
cial assistance for the adaptation and demonstration of
United States environmental technologies to enhance ex-
ports to major international markets.
(b) FORMS OF FINANCIAL ASSISTANCE.—To carry
out this section, the Secretary of Commerce may, to the
extent provided in appropriations Acts, use the Fund for
the purpose of making loans, loan guarantees, or other
forms of financial assistance to United States companies,
independent research centers, institutions of higher edu-
cation, and other organizations the Secretary considers
appropriate.
(c) PRIORITIES.—In providing financial assistance
under this section, the Secretary of Commerce shall give
priority to environmental technologies—
(1) that require modifications through further
research and development to enable commercializa-
tion in international markets;
(2) that have substantial potential for use in ex-
port markets; and
(3) for which substantial manufacture will re-
main in the United States.
(d) OPERATING PLAN.—Not later than January 1,
1995, the Secretary of Commerce shall submit to the Con-
gress an operating plan to carry out this section. The plan
shall contain a description of coordination efforts with
other sources of export finance assistance, including the
Agency for International Development and the Overseas
Private Investment Corporation, and an evaluation of al-
ternative approaches to carrying out this section (includ-
ing priorities referred to in subsection (c)). The Secretary
shall develop recommendations, as appropriate, to carry
out this section in the most effective and efficient manner
achievable. The recommendations shall include a descrip-
tion of the system of evaluation used under this sub-
section.
(e) TERMS AND CONDITIONS FOR FINANCIAL ASSIST-
ANCE.—
(1) LIMITATION ON PROJECT AMOUNT.—Loans,
loan guarantees, and other forms of financial assist-
ance made under this section shall be in such form
and under such terms and conditions as the Sec-
retary of Commerce may prescribe by regulation.
The amount of assistance provided under this sec-
tion for a project may not exceed 50 percent of the
total eligible project costs. The term ‘‘total eligible
project costs’’ shall be defined by the Secretary of
Commerce by regulation.
(2) LIMITATION
ON
TOTAL
COST.—Financial
assistance under this section shall be made under
such terms and conditions as are necessary to en-
to the amount paid under paragraph (1) in connec-
tion with the technology be paid to the United
States.
(g) INTEREST.—Interest on a loan, or portion of a
loan, awarded or guaranteed by the Federal Government
under this section shall be at a rate determined by the
Secretary of the Treasury, at the time such loan is made,
to equal the then current average market yield on out-
standing debt obligations of the United States with re-
maining periods to maturity comparable to the maturity
of such loan, plus an additional charge of up to 1 percent
applied by the Secretary of Commerce to cover expected
defaults and reasonable administrative costs of carrying
out this section. For purposes of this section, the term
‘‘default’’ shall be defined by the Secretary of Commerce
by regulation.
(h) MANAGEMENT OF THE FUND.—The Secretary of
Commerce shall manage the Fund and shall annually sub-
mit to the Congress a report on the financial condition
and the results of operation of the Fund during the
preceding fiscal year.
(i) TECHNICAL ASSISTANCE.—The Secretary of Com-
merce shall, upon request, provide technical assistance and
services, as appropriate and needed, to awardees under
this section and shall ensure that awardees have ready ac-
cess to such assistance. The Secretary may charge fees
for technical assistance and services. The Secretary may
waive such fees on a case-by-case basis. Fees paid to the
United States under this section shall be deposited in the
revolving fund.
(j) COORDINATION WITH OTHER FEDERAL ACTIVI-
TIES.—The Secretary of Commerce shall, to the maximum
extent practicable, coordinate the activities under this sec-
tion with similar Federal activities to avoid unnecessary
duplication of effort.
(k) OUTREACH
TO
ECONOMICALLY
DEPRESSED
AREAS.—The Secretary of Commerce shall seek to ensure
that qualified business concerns located in areas deter-
mined by the Secretary to have a depressed economy, or
a significant concentration of defense-related industries,
or chronically high unemployment, are notified of the
availability of financial assistance under this section and,
to the extent practicable, to encourage and facilitate the
participation of such qualified business concerns in activi-
ties for which financial assistance in provided under this
section.
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