Office of Territorial Exporting Act

Bill: 116-hr-3242
Sponsor: full_name: Rep. Velazquez, Nydia M. [D-NY-7]
Introduced: 2019-06-12
Policy area: Foreign Trade and International Finance
Subjects: American Samoa

Congressional oversight

Executive agency funding and structure

Export-Import Bank of the United States

Government corporations and government-sponsored enterprises

Government lending and loan guarantees

Guam

Northern Mariana Islands

Puerto Rico

U.S. territories and protectorates

Virgin Islands
Latest action: action_date: 2019-06-12
text: Referred to the House Committee on Financial Services.

Summaries:
action_date: 2019-06-12
action_desc: Introduced in House
text: <p><b>Office of Territorial Exporting Act</b></p> <p>This bill establishes the Office of Territorial Exporting within the Export-Import Bank to facilitate the provision of financial assistance to export businesses in the Commonwealth of Puerto Rico, the U.S. Virgin Islands, Guam, the Commonwealth of the Northern Mariana Islands, and American Samoa.</p>

tv_txt: I 116th CONGRESS 1st Session H. R. 3242 IN THE HOUSE OF REPRESENTATIVES June 12, 2019 Ms. Velázquez (for herself and Mr. San Nicolas ) introduced the following bill; which was referred to the Committee on Financial Services A BILL To amend the charter of the Export-Import Bank of the United States to create a new office within the Bank.

1. Short title This Act may be cited as the Office of Territorial Exporting Act . 2. Creation of the Office of Territorial Exporting in the Export-Import Bank of the United States (a) In general Section 3 of the Export-Import Bank Act of 1945 ( 12 U.S.C. 635a ) is amended by adding at the end the following: (n) Office of Territorial Exporting (1) Establishment There is established in the Bank the Office of Territorial Exporting (in this subsection referred to as the Office ). (2) Locations The Office shall have an office in the headquarters of the Bank in Washington, DC, and in each territory. (3) Staff The Bank shall hire such full-time staff as may be necessary to perform the functions of the Office. (4) Functions The Office shall conduct outreach, education, and provide learning resources to facilitate the provision to export businesses in the territories of all forms of financial assistance offered by the Bank. (5) Territory defined In this Act, the term territory means the Commonwealth of Puerto Rico, the United States Virgin Islands, Guam, the Commonwealth of the Northern Mariana Islands, and American Samoa. . (b) Annual report Section 8 of such Act ( 12 U.S.C. 635g ) is amended by adding at the end the following: (l) Report on activities in the territories The Bank shall include in its annual report to Congress under subsection (a) a report on the steps taken by the Bank in the period covered by the report to increase— (1) the presence of the Bank in the territories; and (2) the provision of Bank assistance to export businesses in the territories. .