A bill to prohibit the Export-Import Bank of the United States from providing financing to persons with seriously delinquent tax debt.
Bill: S.474 | Sponsor: Sen. Braun, Mike (R-IN)
Policy area: Foreign Trade and International Finance

Summary:
This bill prohibits the Export-Import Bank from providing financing to a person with seriously delinquent tax debt or for a project in which any participant has seriously delinquent tax debt.

To prohibit the Export-Import Bank of the United States from providing 
        financing to persons with seriously delinquent tax debt.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. PROHIBITION ON FINANCING BY EXPORT-IMPORT BANK OF THE UNITED 
              STATES FOR PERSONS WITH SERIOUSLY DELINQUENT TAX DEBT.

    Section 2 of the Export-Import Bank Act of 1945 (12 U.S.C. 635) is 
amended by adding at the end the following:
    ``(m) Prohibition on Financing for Persons With Seriously 
Delinquent Tax Debt.--
            ``(1) In general.--The Bank may not provide financing to 
        any person with seriously delinquent tax debt or for any 
        project if any person participating in the project has 
        seriously delinquent tax debt.
            ``(2) Determinations of debt.--For purposes of paragraph 
        (1), the Bank shall determine if a person has seriously 
        delinquent tax debt--
                    ``(A) using information available through the 
                System for Award Management website and data-analytical 
                approaches; and
                    ``(B) in consultation with the Commissioner of 
                Internal Revenue.
            ``(3) Waiver.--The President of the United States may waive 
        the prohibition under paragraph (1) with respect to a person if 
        the President--
                    ``(A) determines that there are urgent and 
                compelling circumstances significantly affecting the 
                interests of the United States that require the 
                financing to be provided; and
                    ``(B) not later than 30 days after making that 
                determination, submits to the Committee on Banking, 
                Housing, and Urban Affairs of the Senate and the 
                Committee on Financial Services of the House of 
                Representatives a report that includes the rationale 
                for the determination and relevant information 
                supporting the determination.
            ``(4) Seriously delinquent tax debt defined.--In this 
        subsection, the term `seriously delinquent tax debt'--
                    ``(A) means a Federal tax liability that has been 
                assessed by the Secretary of the Treasury under the 
                Internal Revenue Code of 1986 and may be collected by 
                the Secretary by levy or by a proceeding in court; and
                    ``(B) does not include--
                            ``(i) a debt that is being paid in a timely 
                        manner pursuant to an agreement under section 
                        6159 or section 7122 of such Code;
                            ``(ii) a debt with respect to which a 
                        collection due process hearing under section 
                        6330 of such Code, or relief under subsection 
                        (a), (b), or (f) of section 6015 of such Code, 
                        is requested or pending;
                            ``(iii) a debt with respect to which a 
                        continuous levy has been issued under section 
                        6331 of such Code (or, in the case of an 
                        applicant for employment, a debt with respect 
                        to which the applicant agrees to be subject to 
                        such a levy); and
                            ``(iv) a debt with respect to which such a 
                        levy is released under section 6343(a)(1)(D) of 
                        such Code.''.
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