Export-Import Bank Reauthorization Act of 1997
PL 105-121 (S.1026), enacted 11/26/1997

I l l STAT. 2528 
PUBLIC LAW 105-121—NOV. 26, 1997 
Nov. 26, 1997 
[S. 1026] 
Public Law 105-121 
105th Congress 
An Act 
To reauthorize the Export-Import Bank of the United States. 
Be it enacted by the Senate and House of Representatives of 
Export-Import 
the United States of America in Congress assembled. 
Bank 
Reauthorization 
SECTION 1. SHORT TITLE; TABLE OF CONTENTS. 
Act of 1997 
12 use 635 note. 
(a) SHORT TiTLE.—^This Act may be cited as the "Export-Import 
Bank Reauthorization Act of 1997". 
(b) TABLE OF CONTENTS.— 
Sec. 1. Short title; table of contents. 
Sec. 2. Extension of authority. 
Sec. 3. Tied aid credit fund authority. 
Sec. 4. Extension of authority to provide financing for the export of nonlethal de-
fense articles or services the primary end use of which will be for civil-
ian purposes. 
Sec. 5. Clarification of procedures for denying credit based on the national interest. 
Sec. 6. Administrative Counsel. 
Sec. 7. Advisory Committee for sub-Saharan Africa. 
Sec. 8. Increase in labor representation on the Advisory Committee of the Export-
Import Bank. 
Sec. 9. Outreach to companies. 
Sec. 10. Clarification of the objectives of the Export-Import Bank. 
Sec. 11. Including child labor as a criterion for denying credit based on the national 
interest. 
Sec. 12. Prohibition relating to Russian transfers of certain missiles to the People's 
Republic of China. 
SEC. 2. EXTENSION OF AUTHORITY. 
(a) IN GENERAL.—Section 7 of the Expori;-Import; Bank Act 
of 1945 (12 U.S.C. 635f) is amended by striking "until" and all 
that follows through "but" and inseri;ing "until the close of business 
on September 30, 2001, but". 
i2USC635f 
(b) EFFECTIVE DATE.—The amendment made by this section 
note. 
shall take effect on September 30, 1997. 
SEC. 3. TIED AID CREDIT FUND AUTHORITY. 
(a) EXPENDITURES FROM FUND.—Section 10(c)(2) of the Expori;-
Impori; Bank Act of 1945 (12 U.S.C. 635i-3(c)(2)) is amended by 
striking "through" and all that follows through "1997". 
(b) AUTHORIZATION.—Section 10(e) of such Act (12 U.S.C. 635i-
3(e)) is amended by striking the first sentence and inserting the 
following: "There are authorized to be appropriated to the Fimd 
such sums as may be necessary to carry out the purposes of this 
section.". 
PUBLIC LAW 105-121—NOV. 26, 1997 
111 STAT. 2529 
SEC. 4. EXTENSION OF AUTHORITY TO PROVIDE FINANCING FOR THE 
EXPORT OF NONLETHAL DEFENSE ARTICLES OR SERVICES 
THE PRIMARY END USE OF WHICH WILL BE FOR CIVILIAN 
PURPOSES. 
Section 1(c) of Public Law 103-428 (12 U.S.C. 635 note; 108 
Stat. 4376) is amended by striking "1997" and inserting "2001". 
SEC. 5. CLARIFICATION OF PROCEDURES FOR DENYING CREDIT 
BASED ON THE NATIONAL INTEREST. 
Section 2(b)(1)(B) of the Export-Import Bank Act of 1945 (12 
U.S.C. 635(b)(1)(B)) is amended— 
(1) in the last sentence, by inserting ", after consultation 
with the Committee on Banking and Financial Services of 
the House of Representatives and the Committee on Banking, 
Housing, and Urban Affairs of the Senate," after "President"; 
and 
(2) by adding at the end the following: "Each such deter-
mination shall be delivered in writing to the President of the 
Bank, shall state that the determination is made pursuant 
to this section, and shall specify the applications or categories 
of applications for credit which should be denied by the Bank 
in furtherance of the national interest.". 
SEC. 6. ADMINISTRATIVE COUNSEL. 
Section 3(e) of the Export-Import Bank Act of 1945 (12 U.S.C. 
635a(e)) is amended— 
(1) by inserting "(1)" after "(e)"; and 
(2) by adding at the end the following: 
"(2) The General Counsel of the Bank shall ensure that the 
directors, officers, and employees of the Bank have available appro-
priate legal counsel for advice on, and oversight of, issues relating 
to personnel matters and other administrative law matters by des-
ignating an attorney to serve as Assistant General Counsel for 
Administration, whose duties, under the supervision of the General 
Counsel, shall be concerned solely or primarily with such issues.". 
SEC. 7. ADVISORY COMMITTEE FOR SUB-SAHARAN AFRICA. 
(a) IN GEI^RAL.—Section 2(b) of the Export-Import Bank Act 
of 1945 (12 U.S.C. 635(b)) is amended by inserting after paragraph 
(8) the following: 
"(9)(A) The Board of Directors of the Bank shall take prompt 
measures, consistent with the credit standards otherwise required 
by law, to promote the expansion of the Bank's financial commit-
ments in sub-Saharan Africa under the loan, guarantee, and insur-
ance programs of the Bank. 
"(B)(i) The Board of Directors shall establish and use an 
advisory committee to advise the Board of Directors on the develop-
ment and implementation of policies and programs designed to 
support the expansion described in subparagraph (A). 
"(ii) The advisory committee shall make recommendations to 
the Board of Directors on how the Bank can facilitate greater 
support by United States commercial banks for trade with sub-
Saharan Africa. 
"(iii) The advisory committee shall terminate 4 years after 
the date of enactment of this subparagraph.". 
(b) REPORTS TO CONGRESS.—^Within 6 months after the date 
12 use 635 note, 
of enactment of this Act, and annually for each of the 4 years 
thereafter, the Board of Directors of the Export-Import Bank of 
I l l STAT. 2530 
PUBLIC LAW 105-121—NOV. 26, 1997 
the United States shall submit to Congress a report on the steps 
that the Board has taken to implement section 2(b)(9)(B) of the 
Export-Import Bank Act of 1945 and any recommendations of the 
advisory committee established pursuant to such section. 
SEC. 8. INCREASE IN LABOR REPRESENTATION ON THE ADVISORY 
COMMITTEE OF THE EXPORT-IMPORT BANK 
Section 3(d)(2) of the Export-Import Bank Act of 1945 (12 
U.S.C. 635a(d)(2)) is amended— 
(1) by inserting "(A)" after "(2)"; and 
(2) by adding at the end the following: 
"(B) Not less than 2 members appointed to the Advisory 
Committee shall be representative of the labor community, 
except that no 2 representatives of the labor community shall 
be selected from the same labor union.". 
SEC. 9. OUTREACH TO COMPANIES. 
Section 2(b)(1) of the Export-Import Bank Act of 1945 (12 
U.S.C. 635(b)(1)) is amended by adding at the end the following: 
"(I) The President of the Bank shall undertake efforts to 
enhance the Bank's capacity to provide information about the 
Bank's programs to small and rural companies which have not 
previously participated in the Bank's programs. Not later thgin 
1 year after the date of enactment of this subparagraph, the Presi-
dent of the Bank shall submit to Congress a report on the activities 
undertaken pursuant to this subparagraph.". 
SEC. 10. CLARIFICATION OF THE OBJECTIVES OF THE EXPORT-
IMPORT BANK 
Section 2(b)(1)(A) of the Export-Import Bank Act of 1945 (12 
U.S.C. 635(b)(1)(A)) is amended in the first sentence by striking 
"real income" and all that follows to the end period and inserting: 
"real income, a commitment to reinvestment and job creation, and 
the increased development of the productive resources of the United 
States". 
SEC. 11. INCLUDING CHILD LABOR AS A CRITERION FOR DENYING 
CREDIT BASED ON THE NATIONAL INTEREST. 
Section 2(b)(1)(B) of the Export-Import Bank Act of 1945 (12 
U.S.C. 635(b)(1)(B)), as amended by section 5, is amended in the 
next to the last sentence by inserting "(including child labor)" 
after "human rights". 
SEC. 12. PROHIBITION RELATING TO RUSSIAN TRANSFERS OF CER-
TAIN MISSILES TO THE PEOPLE'S REPUBLIC OF CHINA. 
Section 2(b) of the Export-Import Bank Act of 1945 (12 U.S.C. 
635(b)) is amended by adding at the end the following: 
"(12) PROHIBITION RELATING TO RUSSIAN TRANSFERS OF CER-
TAIN MISSILE SYSTEMS.—If the President of the United States 
determines that the military or Grovemment of the Russian 
Federation has transferred or delivered to the People's Republic 
of China an SS-N-22 missile system and that the transfer 
or delivery represents a significant and imminent threat to 
the security of the United States, the President of the United 
States shall notify the Bank of the trsinsfer or delivery as 
soon as practicable. Upon receipt of the notice and if so directed 
by the President of the United States, the Board of Directors 
of the Bank shall not give approval to guarantee, insure, extend 
PUBLIC LAW 105-121—NOV. 26, 1997 
111 STAT. 2531 
credit, or participate in the extension of credit in connection 
with the purchase of any good or service by the mihtary or 
Grovemment of the Russian Federation.". 
Approved November 26, 1997. 
LEGISLATIVE HISTORY—S. 1026 (H.R. 1370): 
HOUSE REPORTS: Nos. 105-224 accompanying H.R. 1370 (Comm. on Banking and 
Financial Services) and 105-392 (Comm. of Conference). 
SENATE REPORTS: No. 105-76 (Comm. on Banking, Housing, and Urban Affairs). 
CONGRESSIONAL RECORD, Vol. 143 (1997): 
Sept. 16, considered and passed Senate. 
Oct. 6, considered and passed House, amended, in lieu of H.R. 1370. 
Nov. 8, Senate agreed to conference report. 
Nov. 9, House agreed to conference report.