Made-in-America Bank Act

Bill: 113-hr-5424
Sponsor: full_name: Rep. Grayson, Alan [D-FL-9]
Introduced: 2014-09-09
Policy area: Foreign Trade and International Finance
Subjects: Buy American requirements

Competitiveness, trade promotion, trade deficits

Executive agency funding and structure

Export-Import Bank of the United States

Foreign and international corporations

Government corporations and government-sponsored enterprises

Government lending and loan guarantees
Latest action: action_date: 2014-09-09
text: Referred to the House Committee on Financial Services.

Summaries:
action_date: 2014-09-09
action_desc: Introduced in House
text: <p>Made-in-America Bank Act - Amends the Export-Import Bank Act of 1945 to redesignate the Export-Import Bank as the Made-in-America Bank.</p>  <p>Declares that all guarantees, loans, insurance, and any other benefits historically provided by the Export-Import Bank may only be made to a domestic entity that is not majority-owned by any foreign person or entity, and only for the purpose of acquiring goods or services made in America.</p> <p>Extends the termination date of the Export-Import Bank from 2014 to 2016.</p>

tv_txt: I 113th CONGRESS 2d Session H. R. 5424 IN THE HOUSE OF REPRESENTATIVES September 9, 2014 Mr. Grayson introduced the following bill; which was referred to the Committee on Financial Services A BILL To create the Made-in-America Bank.

1. Short title This Act may be cited as the Made-in-America Bank Act . 2. Redesignation of the Export-Import Bank as the Made-in-America Bank (a) Redesignation Paragraph (1) of subsection (a) of section 2 of the Export-Import Bank Act of 1945 (12 U.S.C. 635(a)(1)) is amended by striking Export-Import Bank and inserting Made-in-America Bank . (b) References Any reference in any law, map, regulation, document, paper, or other record of the United States to the Federal agency renamed in subsection (a) shall be deemed to be a reference to the Made-in-America Bank . 3. Financing made available to American entities purchasing American made goods All guarantees, loans, insurance, and any other benefits historically provided by the Export-Import Bank may only be made to a domestic entity that is not majority-owned by any foreign person or entity and only for the purpose of acquiring goods or services made in America. 4. Extension of authority Section 7 of the Export-Import Bank Act of 1945 ( 12 U.S.C. 635f ) is amended by striking 2014 and inserting 2016 . 5. Effective date The amendments made by this Act shall take effect on October 1, 2014, or the date of enactment of this Act, whichever is later.