Increasing American Jobs and Exports Act

Bill: 116-hr-4450
Sponsor: full_name: Rep. Ruiz, Raul [D-CA-36]
Introduced: 2019-09-20
Policy area: Foreign Trade and International Finance
Subjects: Competitiveness, trade promotion, trade deficits

Executive agency funding and structure

Export-Import Bank of the United States

Government corporations and government-sponsored enterprises
Latest action: action_date: 2019-09-20
text: Referred to the House Committee on Financial Services.

Summaries:
action_date: 2019-09-20
action_desc: Introduced in House
text: <p><b>Increasing American Jobs and Exports Act</b> </p> <p>This bill authorizes the Export-Import Bank of the United States to use up to 3% of the bank's surplus to cover its administrative expenses, and it requires the bank to use at least one-third of that 3% of surplus to expand or establish regional bank offices.</p>

tv_txt: I 116th CONGRESS 1st Session H. R. 4450 IN THE HOUSE OF REPRESENTATIVES September 20, 2019 Mr. Ruiz introduced the following bill; which was referred to the Committee on Financial Services A BILL To authorize the Export-Import Bank of the United States to use 3 percent of its profits for administrative expenses.

1. Short title This Act may be cited as the Increasing American Jobs and Exports Act . 2. Authority of the Export-Import Bank to use 3 percent of its profits for administrative expenses 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) Authority To use portion of bank surplus for administrative expenses (1) Authority (A) In general Subject to paragraph (2), in addition to any other amounts that the Bank may use to cover administrative expenses of the Bank, the Bank may use not more than 3 percent of the surplus (as defined in subsection (j)(2), without regard to subparagraph (B)(ii) of such subsection) of the Bank, for each fiscal year in the 5-year period beginning with the date of the enactment of this paragraph, to cover administrative expenses of the Bank. (B) Use for regional offices Of the amount of the surplus which may be used as provided in subparagraph (A), the Bank shall use at least 1/3 to expand or establish regional offices of the Bank. (2) Subject to appropriations The authority provided by paragraph (1) may be exercised only to such extent and in such amounts as are provided in advance in appropriations Acts. .