Title: Export-Import Bank Reauthorization Act of 2019
Policy area: Foreign Trade and International Finance

Summary:
Export-Import Bank Reauthorization Act of 2019
This bill reauthorizes the Export-Import Bank through FY2029. It also provides for a temporary board of directors of the Export-Import Bank if the existing board fails to constitute a quorum for 90 consecutive days during the term of a President.

[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[S. 2293 Introduced in Senate (IS)]

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116th CONGRESS
  1st Session
                                S. 2293

To extend the authority of the Export-Import Bank of the United States 
    and to modify the quorum requirement of the Bank, and for other 
                               purposes.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             July 25, 2019

  Mr. Cramer (for himself, Ms. Sinema, Mr. Tillis, Ms. Cantwell, Mr. 
Blunt, Mr. Graham, Ms. Collins, Mr. Coons, Ms. Hassan, and Mrs. Murray) 
introduced the following bill; which was read twice and referred to the 
            Committee on Banking, Housing, and Urban Affairs

_______________________________________________________________________

                                 A BILL


 
To extend the authority of the Export-Import Bank of the United States 
    and to modify the quorum requirement of the Bank, and for other 
                               purposes.

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

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Export-Import Bank Reauthorization 
Act of 2019''.

SEC. 2. EXTENSION OF AUTHORITY OF EXPORT-IMPORT BANK OF THE UNITED 
              STATES.

    (a) In General.--Section 7 of the Export-Import Bank Act of 1945 
(12 U.S.C. 635f) is amended by striking ``2019'' and inserting 
``2029''.
    (b) Authority Relating to Information Technology Systems.--Section 
3(j) of the Export-Import Bank Act of 1945 (12 U.S.C. 635a(j)) is 
amended--
            (1) in paragraph (1), in the matter preceding subparagraph 
        (A), by striking ``fiscal years'' and all that follows through 
        ``to--'' and inserting ``fiscal years 2019 through 2029 to--''; 
        and
            (2) in paragraph (3), by striking ``fiscal years'' and all 
        that follows through ``shall not'' and inserting ``fiscal years 
        2019 through 2029 shall not''.
    (c) Annual Reports on Progress of Negotiations To End Export Credit 
Financing.--Section 11(e) of the Export-Import Bank Reauthorization Act 
of 2012 (12 U.S.C. 635a-5(e)) is amended by striking ``2019'' and 
inserting ``2029''.
    (d) Pilot Program for Reinsurance.--Section 51008 of the Export-
Import Bank Reform and Reauthorization Act of 2015 (Public Law 114-94; 
12 U.S.C. 635 note) is amended by striking ``2019'' each place it 
appears and inserting ``2029''.

SEC. 3. AGGREGATE LOAN, GUARANTEE, AND INSURANCE AUTHORITY.

    Section 6(a)(2) of the Export-Import Bank Act of 1945 (12 U.S.C. 
635e(a)(2)) is amended to read as follows:
            ``(2) Applicable amount defined.--In this subsection, the 
        term `applicable amount' means--
                    ``(A) $145,000,000,000 for fiscal year 2020;
                    ``(B) $150,000,000,000 for fiscal year 2021;
                    ``(C) $155,000,000,000 for fiscal year 2022;
                    ``(D) $160,000,000,000 for fiscal year 2023;
                    ``(E) $165,000,000,000 for fiscal year 2024;
                    ``(F) $170,000,000,000 for fiscal year 2025; and
                    ``(G) $175,000,000,000 for each of fiscal years 
                2026 through 2029.''.

SEC. 4. TEMPORARY BOARD OF DIRECTORS FOR THE EXPORT-IMPORT BANK OF THE 
              UNITED STATES.

    Section 3(c)(6) of the Export-Import Bank Act of 1945 (12 U.S.C. 
635a(c)(6)) is amended--
            (1) by inserting ``(A)'' after ``(6)''; and
            (2) by adding at the end the following:
    ``(B)(i) If there is an insufficient number of directors to 
constitute a quorum under subparagraph (A) for 90 consecutive days 
during the term of a President of the United States, a temporary Board, 
consisting of the following members, shall act in the stead of the 
Board of Directors until a quorum of the Board of Directors can be 
constituted:
            ``(I) The United States Trade Representative.
            ``(II) The Secretary of the Treasury.
            ``(III) The Secretary of Commerce.
            ``(IV) The members of the Board of Directors.
    ``(ii) The chairperson of the temporary Board shall be--
            ``(I) a member of the Board of Directors described in 
        clause (i)(IV), consistent with the bylaws of the Bank; or
            ``(II) if there are no such members of the Board of 
        Directors, the United States Trade Representative.
    ``(iii) If the temporary Board consists of members of only one 
political party, the President of the United States shall, to the 
extent practicable, appoint to the temporary Board a qualified member 
of another political party who occupies a position requiring 
appointment by the President by and with the advice and consent of the 
Senate.
    ``(iv) A member of the temporary Board specified in subclause (I), 
(II), or (III) of clause (i) may delegate the authority of the member 
to vote on whether to approve or amend a transaction in an amount of 
less than $100,000,000, to--
            ``(I) if the member is the United States Trade 
        Representative, the Deputy United States Trade Representative; 
        or
            ``(II) if the member is specified in subclause (II) or 
        (III) of that clause, the Deputy Secretary of the department 
        specified in that subclause.
    ``(v) The temporary Board may approve or amend transactions in an 
amount that exceeds $25,000,000 only by a vote of the temporary Board.
    ``(vi) The temporary Board may not change or amend the policies, 
procedures, bylaws, or guidelines of the Bank.
    ``(vii) The chairperson of the temporary Board shall ensure that 
the Bank complies with section 2(b)(3) with respect to transactions in 
an amount that equals or exceeds $100,000,000.
    ``(viii) The temporary Board shall terminate on the date that is 
the earlier of--
            ``(I) the last day of the term of the President of the 
        United States in office as of the date on which the temporary 
        Board is constituted; or
            ``(II) the date on which there is a sufficient number of 
        directors on the Board of Directors to constitute a quorum 
        under subparagraph (A).
    ``(ix) This subparagraph shall have no force or effect after 
September 30, 2029.''.
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