Strengthening Exports Against China Act

Bill: 118-hr-10196
Sponsor: full_name: Rep. Kim, Young [R-CA-40]
Introduced: 2024-11-21
Policy area: Foreign Trade and International Finance
Latest action: action_date: 2024-11-21
text: Referred to the House Committee on Financial Services.

Summaries:

tv_txt: I 118th CONGRESS 2d Session H. R. 10196 IN THE HOUSE OF REPRESENTATIVES November 21, 2024 Mrs. Kim of California (for herself and Mrs. Beatty ) introduced the following bill; which was referred to the Committee on Financial Services A BILL To amend the Export-Import Bank Act of 1945 to exclude certain financing from the calculation of the default rate for purposes of determining when the lending cap under such Act applies, and for other purposes.

1. Short title This Act may be cited as the Strengthening Exports Against China Act . 2. Exclusion of certain financing Section 6(a)(3) of the Export-Import Bank Act of 1945 ( 12 U.S.C. 635e(a)(3) ) is amended— (1) by striking If and inserting the following: (A) In general If ; and (2) by adding at the end the following: (B) Exclusion of certain financing For purposes of this paragraph, the rate calculated under section 8(g)(1) shall not include an entity in default if the Bank determines that the financing provided to the entity— (i) facilitates the replacement of or competition with a product or service provided by— (I) an entity on the Entity List of the Bureau of Industry and Security described under section 744.16 of title 15, Code of Federal Regulations; or (II) a person— (aa) on the list of specially designated nationals and blocked persons maintained by the Office of Foreign Asset Control of the Department of the Treasury; or (bb) with respect to which one or more persons described under subclause (I), individually or in the aggregate, directly or indirectly, hold at least 50 percent of the outstanding voting interest; or (ii) was provided pursuant to the Program on China and Transformational Exports established under section 2(l). .