[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3407 Introduced in House (IH)]
<DOC>
116th CONGRESS
1st Session
H. R. 3407
To strengthen the competitiveness of the United States, to modernize
and reform the United States Export Finance Agency, and for other
purposes.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
June 21, 2019
Ms. Waters (for herself and Mr. McHenry) introduced the following bill;
which was referred to the Committee on Financial Services
_______________________________________________________________________
A BILL
To strengthen the competitiveness of the United States, to modernize
and reform the United States Export Finance Agency, and for other
purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``United States Export Finance Agency
Act of 2019''.
SEC. 2. TABLE OF CONTENTS.
The table of contents of this Act is as follows:
Sec. 1. Short title.
Sec. 2. Table of contents.
Sec. 3. Findings.
Sec. 4. Renaming of the Export-Import Bank of the United States.
TITLE I--PROMOTING UNITED STATES LEADERSHIP AND INNOVATION
Sec. 101. Authorization period.
Sec. 102. Aggregate loan, guarantee, and insurance authority.
Sec. 103. Program on China and transformational exports.
Sec. 104. Strengthening support for U.S. small businesses.
Sec. 105. Office of Minority and Women Inclusion.
Sec. 106. Support for United States territories.
Sec. 107. Promoting renewable energy exports.
Sec. 108. Alternative procedures during quorum lapse.
Sec. 109. Information technology systems.
Sec. 110. Administratively determined pay.
Sec. 111. Survey on blockchain use in the operations of United States
exporters.
TITLE II--IMPROVING AGENCY OPERATIONS AND ENHANCING TRANSPARENCY AND
ACCOUNTABILITY
Sec. 201. Annual testimony.
Sec. 202. Independent audit of regional export finance centers.
Sec. 203. Risk Management Committee.
Sec. 204. Ensuring Agency compliance with additionality requirements.
Sec. 205. Reinsurance program.
Sec. 206. Report on new Agency policies, procedures, and bylaws.
Sec. 207. Report on travel practices of Agency employees.
Sec. 208. Report on steps taken to correct deficiencies related to
information security.
Sec. 209. Additional requirements involving certain transactions.
Sec. 210. Anti-fraud reforms.
TITLE III--FOREIGN POLICY CONSIDERATIONS
Sec. 301. Chinese government-owned enterprises.
Sec. 302. International negotiations on export subsidies.
Sec. 303. Prohibition on financing for exports involving state sponsors
of terrorism.
TITLE IV--MISCELLANEOUS PROVISIONS
Sec. 401. Miscellaneous updates relating to the United States Export
Finance Agency.
Sec. 402. Prohibition on financing for certain aviation-related
vehicles.
SEC. 3. FINDINGS.
The Congress finds as follows:
(1) The Export-Import Bank of the United States (EXIM)--the
official export credit agency of the United States--is designed
to help create and support U.S. jobs by providing American
exporters with the financing tools necessary to compete in the
global markets.
(2) Over its 85-year history, under both Republican and
Democratic administrations, the Export-Import Bank of the
United States has been reauthorized 17 times with large
bipartisan majorities in Congress.
(3) Over the last 10 years, the Export-Import Bank of the
United States has financed more than $186,000,000,000 in
authorizations supporting more than $255,000,000,000 in United
States exports and supported 1,600,000 United States jobs in
all 50 states; in fiscal year 2018, EXIM authorized
$3,300,000,000 in financing and supported an estimated 33,000
United States jobs.
(4) By its charter, it is the policy of the United States
that the Export-Import Bank of the United States should not
compete with the private sector, but rather to fill export
financing gaps through its insurance, loan guarantee, and
direct lending programs when the private sector is unable or
unwilling to do so.
(5) With more than 100 export credit agencies globally, the
Export-Import Bank of the United States, if appropriately
utilized, can level the playing field to ensure that United
States companies will not lose out on a sale of United States
exports because of financing terms offered by foreign
governments.
(6) In fiscal year 2018, 90.5 percent of the Export-Import
Bank of the United States' authorizations directly supported
small businesses, including 315 small businesses that used the
Export-Import Bank of the United States for the first time.
(7) In fiscal year 2014, when the Export-Import Bank of the
United States was last fully operational, EXIM authorized
$751,000,000 to support minority- and women-owned business
exports.
(8) In fiscal year 2018, the Export-Import Bank of the
United States approved $451,400,000 in support of minority- or
woman-owned businesses, which accounted for 21 percent of total
small business authorizations.
(9) The charter of the Export-Import Bank of the United
States requires the Bank to lend only if there exists
reasonable assurance that it will be repaid, and Congress
subjects EXIM to statutory restrictions and oversight to
safeguard its fiscal soundness, limit mismanagement, and
prevent corruption.
(10) EXIM was last reauthorized in December 2015, and its
charter expires September 30, 2019.
(11) Despite bicameral support for the Bank's
reauthorization in 2015, the Senate did not confirm the
directors of EXIM until May 2019. As a result, the Bank did not
have a quorum and could not approve transactions over
$10,000,000.
SEC. 4. RENAMING OF THE EXPORT-IMPORT BANK OF THE UNITED STATES.
(a) In General.--The Export-Import Bank of the United States is
hereby redesignated as the United States Export Finance Agency.
(b) References.--Any reference to the Export-Import Bank of the
United States in any law, rule, regulation, certificate, directive,
instruction, or other official paper in force on the date of the
enactment of this Act shall be considered to refer and apply to the
United States Export Finance Agency.
TITLE I--PROMOTING UNITED STATES LEADERSHIP AND INNOVATION
SEC. 101. AUTHORIZATION PERIOD.
Section 7 of the Export-Import Bank Act of 1945 (12 U.S.C. 635f) is
amended by striking ``2019'' and inserting ``2026''.
SEC. 102. AGGREGATE LOAN, GUARANTEE, AND INSURANCE AUTHORITY.
Section 6(a)(2) of the Export-Import Bank Act of 1945 (12 U.S.C.
635e(a)(2)) is amended to read as follows:
``(2) Applicable amount defined.--In this subsection, the
term `applicable amount' means--
``(A) $145,000,000,000 for fiscal year 2020;
``(B) $150,000,000,000 for fiscal year 2021;
``(C) $155,000,000,000 for fiscal year 2022;
``(D) $160,000,000,000 for fiscal year 2023;
``(E) $165,000,000,000 for fiscal year 2024;
``(F) $170,000,000,000 for fiscal year 2025; and
``(G) $175,000,000,000 for fiscal year 2026.''.
SEC. 103. PROGRAM ON CHINA AND TRANSFORMATIONAL EXPORTS.
(a) In General.--Section 2 of the Export-Import Bank Act of 1945
(12 U.S.C. 635) is amended by adding at the end the following:
``(l) Program on China and Transformational Exports.--
``(1) In general.--The Agency shall establish a Program on
China and Transformational Exports to support the extension of
loans, guarantees, and insurance, at rates and on terms and
other conditions, to the extent practicable, that are fully
competitive with rates, terms, and other conditions established
by the People's Republic of China or by a covered country, that
aim to--
``(A) directly neutralize export subsidies for
competing goods and services financed by official
export credit, tied aid, or blended financing provided
by the People's Republic of China or by a covered
country; or
``(B) advance the comparative leadership of the
United States with respect to the People's Republic of
China, or support United States innovation, employment,
and technological standards, through direct exports in
any of the following areas:
``(i) Artificial intelligence.
``(ii) Biotechnology.
``(iii) Biomedical sciences.
``(iv) Wireless communications equipment
(including 5G or subsequent wireless
technologies).
``(v) Quantum computing.
``(vi) Renewable energy, energy efficiency,
and energy storage.
``(vii) Semiconductor and semiconductor
machinery manufacturing.
``(viii) Emerging financial technologies,
including technologies that facilitate--
``(I) financial inclusion through
increased access to capital and
financial services;
``(II) data security and privacy;
``(III) payments, the transfer of
funds, and associated messaging
services; and
``(IV) efforts to combat money
laundering and the financing of
terrorism.
``(ix) Associated services necessary for
use of any of the foregoing exports.
``(2) Covered countries.--In this subsection, the term
`covered country' means any country that--
``(A) the Secretary of the Treasury designates as a
covered country in a report to the Committee on
Financial Services of the House of Representatives and
the Committee on Banking, Housing, and Urban
Development of the Senate; and
``(B) is not a participant in the Arrangement on
Officially Supported Export Credits of the Organization
for Economic Cooperation and Development (in this
subsection referred to as the `Arrangement'); and
``(C) is not in substantial compliance with the
financial terms and conditions of the Arrangement.
``(3) Financing.--
``(A) In general.--It shall be a goal of the Agency
to reserve not less than 20 percent of the applicable
amount (as defined in section 6(a)(2)) for support made
pursuant to the Program on China and Transformational
Exports.
``(B) Exception.--The Secretary of the Treasury may
reduce or eliminate the 20 percent goal in subparagraph
(A), on reporting to the Committee on Financial
Services of the House of Representatives and the
Committee on Banking, Housing, and Urban Affairs of the
Senate that the People's Republic of China is in
substantial compliance with--
``(i) the financial terms and conditions of
the Arrangement; and
``(ii) the rules and principles of the
Paris Club.
``(C) Sunset and report.--The program established
under paragraph (1) shall expire on September 30, 2026.
Not later than 4 years after enactment of this
subsection, the President of the Agency shall submit a
report to the Committee on Financial Services of the
House of Representatives and the Committee on Banking,
Housing, and Urban Affairs of the Senate assessing the
following:
``(i) The capacity and demand of United
States entities to export goods and services in
the areas described in paragraph (1)(B) in
consultation with the Secretary of Commerce.
``(ii) The availability of private-sector
financing for exports in the areas.
``(iii) The feasibility and advisability of
continuing the goal of subparagraph (A) of this
paragraph with respect to paragraph (1)(B)
after September 30, 2026.
``(D) National advisory council on international
financial and monetary problems.--The National Advisory
Council on International Financial and Monetary
Problems shall ensure that Agency authorizations
pursuant to the Program on China and Transformational
Exports are considered or reviewed expeditiously,
consistent with the other credit standards required by
law.''.
(b) Required Reporting.--Section 8 of such Act (12 U.S.C. 635g) is
amended by adding at the end the following:
``(l) Report on Authorizations Under the Program on China and
Transformational Exports.--The Agency shall include in its annual
report to Congress under subsection (a) a narrative and financial
summary of the authorizations made under the Program on China and
Transformational Exports.''.
(c) Rule of Construction.--Nothing in section 2(l)(1)(B) of the
Export-Import Bank Act of 1945 shall be construed to weaken any export
controls affecting critical technologies (as defined in section
721(a)(6)(A) of the Defense Production Act of 1950 (50 U.S.C.
4565(a)(6)(A))).
SEC. 104. STRENGTHENING SUPPORT FOR U.S. SMALL BUSINESSES.
(a) Increasing Small Business Threshold.--Section 2(b)(1)(E)(v) of
the Export-Import Bank Act of 1945 (12 U.S.C. 635(b)(1)(E)(v)) is
amended--
(1) by striking ``25 percent of such authority for each
fiscal year'' and inserting ``25 percent of such authority for
each of fiscal years 2020, 2021, and 2022, and 30 percent of
such authority for each fiscal year thereafter''; and
(2) by adding at the end the following: ``For the purpose
of calculating the amounts of authority required under this
clause, the Agency shall, with respect to insurance, exclude
unutilized authorizations that terminated during the fiscal
year.''.
(b) Small Business Policy.--Section 2(b)(1)(E)(i)(I) of such Act
(12 U.S.C. 635(b)(1)(E)(i)(I)) is amended to read as follows:
``(I) It is further the policy of the United States to encourage
the participation of small business (including women-owned businesses,
minority- owned businesses, veteran-owned businesses, businesses owned
by persons with disabilities, and businesses in rural areas) and start-
up businesses in international commerce, and to educate the public
about how to export goods using the United States Export Finance
Agency.''.
SEC. 105. OFFICE OF MINORITY AND WOMEN INCLUSION.
(a) In General.--Section 3(i) of the Export-Import Bank Act of 1945
(12 U.S.C. 635a(i)) is amended to read as follows:
``(i) Office of Minority and Women Inclusion.--
``(1) Establishment.--The Agency shall establish an Office
of Minority and Women Inclusion which shall be responsible for
carrying out this subsection and all matters relating to
diversity in management, employment, and business activities in
accordance with such standards and requirements as the Director
of the Office shall establish.
``(2) Transfer of responsibilities.--The Agency shall
ensure that, to the extent that the responsibilities described
in paragraph (1) (or comparable responsibilities) were, as of
the date of the enactment of this subsection, performed by
another office of the Agency, the responsibilities shall be
transferred to the Office.
``(3) Duties with respect to civil rights laws.--The
responsibilities described in paragraph (1) shall not include
enforcement of statutes, regulations, or executive orders
pertaining to civil rights, except that the Director of the
Office shall coordinate with the President of the Agency, or
the designee of the President of the Agency, regarding the
design and implementation of any remedies resulting from
violations of the statutes, regulations, or executive orders.
``(4) Director.--
``(A) In general.--The Director of the Office shall
be appointed by, and shall report directly to, the
President of the Agency. The position of Director of
the Office shall be a career reserved position in the
Senior Executive Service, as that position is defined
in section 3132 of title 5, United States Code, or an
equivalent designation.
``(B) Duties.--The Director shall--
``(i) develop standards for equal
employment opportunity and the racial, ethnic,
and gender diversity of the workforce and
senior management of the Agency;
``(ii) develop standards for increased
participation of minority-owned and women-owned
businesses in the programs and contracts of the
Agency, including standards for coordinating
technical assistance to the businesses; and
``(iii) enhance the outreach activities of
the Agency with respect to, and increase the
total amount of loans, guarantees, and
insurance provided by the Agency to support
exports by socially and economically
disadvantaged small business concerns (as
defined in section 8(a)(4) of the Small
Business Act) and small business concerns owned
by women.
``(C) Other duties.--The Director shall advise the
President of the Agency on the impact of the policies
of the Agency on minority-owned and women-owned
businesses.
``(5) Inclusion in all levels of business activities.--
``(A) Contracts.--The Director of the Office shall
develop and implement standards and procedures to
ensure, to the maximum extent possible, the inclusion
and utilization of minorities (as defined in section
1204(c) of the Financial Institutions Reform, Recovery,
and Enforcement Act of 1989 (12 U.S.C. 1811 note)) and
women, and minority- and women-owned businesses (as
such terms are defined in section 21A(r)(4) of the
Federal Home Loan Bank Act (12 U.S.C. 1441a(r)(4)) in
all business and activities of the Agency at all
levels, including in procurement, insurance, and all
types of contracts. The processes established by the
Agency for review and evaluation for contract proposals
and to hire service providers shall include a component
that gives consideration to the diversity of the
applicant.
``(B) Applicability.--This subsection shall apply
to all contracts for services of any kind, including
all contracts for all business and activities of the
Agency, at all levels.
``(C) Outreach.--The Agency shall establish a
minority outreach program to ensure the inclusion (to
the maximum extent possible) in contracts entered into
by the enterprises of minorities and women and
businesses owned by minorities and women, including
financial institutions, investment banking firms,
underwriters, accountants, brokers, and providers of
legal services.
``(6) Diversity in agency workforce.--The Agency shall take
affirmative steps to seek diversity in its workforce at all
levels of the Agency consistent with the demographic diversity
of the United States, in a manner consistent with applicable
law, including--
``(A) to the extent the Agency engages in
recruitment efforts to fill vacancies--
``(i) recruiting at historically Black
colleges and universities, Hispanic-serving
institutions, women's colleges, and colleges
that typically serve majority minority
populations; and
``(ii) recruiting at job fairs in urban
communities, and placing employment
advertisements in newspapers and magazines
oriented toward women and people of color;
``(B) partnering with organizations that are
focused on developing opportunities for minorities and
women to place talented young minorities and women in
industry internships, summer employment, and full-time
positions; and
``(C) by use of any other mass media communications
that the Director of the Office determines
necessary.''.
(b) Inclusion in Annual Report.--Section 8 of such Act (12 U.S.C.
635g), as amended by section 103(b) of this Act, is amended by adding
at the end the following:
``(m) Office of Minority and Women Inclusion.--The Agency shall
include in its annual report to the Congress under subsection (a) a
report from the Office of Minority and Women Inclusion regarding the
actions taken by the Agency and the Office pursuant to section 3(i),
which shall include--
``(1) a statement of the total amounts paid by the Agency
to contractors since the most recent report under this
subsection;
``(2) the percentage of the amounts described in paragraph
(1) that were paid to contractors as described in section
3(i)(5)(A);
``(3) the successes achieved and challenges faced by the
Agency in operating minority and women outreach programs;
``(4) the challenges the Agency may face in hiring
qualified minority and women employees and contracting with
qualified minority-owned and women-owned businesses; and
``(5) any other information, findings, conclusions, and
recommendations for legislative or Agency action, as the
Director of the Office deems appropriate.''.
SEC. 106. SUPPORT FOR UNITED STATES TERRITORIES.
(a) Creation of the Office of Territorial Exporting.--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.--The President of the Agency
shall establish an Office of Territorial Exporting, and shall hire such
staff as may be necessary, including at least 1 staffer responsible for
liaising with Puerto Rico, to perform the functions of the Office,
which shall be to promote the export of goods and services from the
territories, conduct outreach, education, and disseminate information
concerning export opportunities and the availability of Agency support
for such activities, and to increase the total amount of loans,
guarantees, and insurance provided by the Agency benefitting the
territories. 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), as
amended by sections 103(b) and 105(b) of this Act, is amended by adding
at the end the following:
``(n) Report on Activities in the Territories.--The Agency shall
include in its annual report to Congress under subsection (a) a report
on the steps taken by the Agency in the period covered by the report to
increase--
``(1) awareness of the Agency and its services in the
territories; and
``(2) the provision of Agency support to export businesses
in the territories.''.
SEC. 107. PROMOTING RENEWABLE ENERGY EXPORTS.
(a) Office of Financing for Renewable Energy, Energy Efficiency and
Energy Storage Exports.--Section 2(b)(1)(C) of the Export-Import Bank
Act of 1945 (12 U.S.C. 635(b)(1)(C)) is amended to read as follows:
``(C) Office of Financing for Renewable Energy, Energy Efficiency
and Energy Storage.--The President of the Agency shall establish an
office whose functions shall be to promote the export of goods and
services to be used in the development, production, and distribution of
renewable energy resources, and energy efficiency and energy storage
technologies, and disseminate information concerning export
opportunities and the availability of Agency support for such
activities, to increase the total amount of loans, guarantees, and
insurance provided by the Agency to support exports related to
renewable energy, energy efficiency, and energy storage.''.
(b) Financing for Renewable Energy, Energy Efficiency, and Energy
Storage Technologies.--Section 2(b)(1)(K) of such Act (12 U.S.C.
635(b)(1)(K)) is amended by inserting ``, energy efficiency and energy
storage. It shall be a goal of the Agency to ensure that not less than
5 percent of the applicable amount (as defined in section 6(a)(2)) is
made available each fiscal year for the financing of renewable energy,
energy efficiency and energy storage technology exports'' before the
period.
(c) Annual Report.--Section 8 of such Act (12 U.S.C. 635g), as
amended by sections 103(b), 105(b), and 106(b) of this Act, is amended
by adding at the end the following:
``(o) Efforts of Agency To Promote Export of Goods and Services
Related to Renewable Energy Sources, Energy Efficiency, and Energy
Storage.--A description of the activities of the Agency with respect to
enhancing outreach and financing renewable energy, energy efficiency,
and energy storage projects undertaken under section 2(b)(1)(K); an
assessment of its success and failure in meeting the goal set out in
section 2(b)(1)(K); where applicable, the specific measures the Agency
will take in the upcoming year to make progress towards meeting the
goal outlined in section 2(b)(1)(K), including expanded outreach,
product improvements, and related actions; and an analysis comparing
the level of support extended by the Agency for renewable energy,
energy efficiency and energy storage projects with the level of support
so extended for the preceding fiscal year.''.
(d) Sense of the Congress Regarding Agency Accountability.--It is
the sense of the Congress that--
(1) the Board of Directors of the United States Export
Finance Agency (in this section referred to as the ``Agency'')
should, after a public consultation process, establish a
formal, transparent, and independent accountability mechanism
to review, investigate, offer independent dispute resolution to
resolve, and publicly report on allegations by affected parties
of any failure of the Agency to follow its own policies and
procedures with regard to the environmental and social effects
of projects, and on situations where the Agency is alleged to
have failed in ensuring the borrower is fulfilling its
obligations in financing agreements with respect to the
policies and procedures;
(2) the accountability mechanism should be able to provide
advice to management on policies, procedures, guidelines,
resources, and systems established to ensure adequate review
and monitoring of the environmental and social effects of
projects;
(3) in carrying out its mandate, the confidentiality of
sensitive business information should be respected, as
appropriate, and, in consultation with affected parties,
project sponsors, Agency management, and other relevant
parties, a flexible process should be followed aimed primarily
at correcting project failures and achieving better results on
the ground;
(4) the accountability mechanism should be independent of
the line operations of management, and report its findings and
recommendations directly to the Board of Directors of the
Agency and annually to the Congress;
(5) the annual report of the Agency should include a
detailed accounting of the activities of the accountability
mechanism for the year covered by the report and the remedial
actions taken by the Agency in response to the findings of the
accountability mechanism;
(6) in coordination with the accountability mechanism, the
Agency and relevant parties should engage in proactive outreach
to communities affected or potentially affected by Agency
financing and activities to provide information on the
existence and availability of the accountability mechanism;
(7) the President of the Agency should, subject to the
approval of the Board of Directors of the Agency, through an
open and competitive process, including solicitation of input
from relevant stakeholders, appoint a director of the
accountability mechanism, who would be responsible for the day-
to-day operations of the mechanism, and a panel of not less
than 3 experts, including the director, who would also serve as
chair of the panel; and
(8) Agency employees should be ineligible to serve as the
accountability mechanism chair or on the panel of experts until
at least 5 years have elapsed from their time of employment at
the Agency, and should be barred from future employment at the
Agency after their tenure with the accountability mechanism.
SEC. 108. ALTERNATIVE PROCEDURES DURING QUORUM LAPSE.
(a) In General.--Section 3(c)(6) of the Export-Import Bank Act of
1945 (12 U.S.C. 635a(c)(6)) is amended--
(1) by inserting ``(A)'' after ``(6)''; and
(2) by adding at the end the following:
``(B)(i) If a quorum of the Board of Directors has not been in
place for 90 consecutive days during the term of a President, a
temporary Board, consisting of the following members, shall act in the
stead of the Board of Directors:
``(I) The United States Trade Representative, who shall
serve as Chairperson of the Temporary Board.
``(II) The Secretary of the Treasury.
``(III) The Secretary of Commerce.
``(IV) The members of the Board of Directors.
``(ii) A member described in subclause (I), (II), or (III) of
clause (i) may delegate the authority of the member to vote on whether
to authorize a transaction, whose value does not exceed $100,000,000,
to--
``(I) if the member is in United States Trade
Representative, the Deputy United States Trade Representative;
or
``(II) if the member is referred to in such subclause (II)
or (III), the Deputy Secretary of the department referred to in
the subclause.
``(iii) If the temporary Board consists only of members of 1
political party, the President of the United States shall, to the
extent practicable, appoint to the temporary Board a qualified member
of a different political party who occupies a position requiring
nomination by the President, by and with the advice and consent of the
Senate.
``(iv) The temporary Board may approve transactions over
$25,000,000 only by a unanimous vote of the temporary Board, and may
not change or amend Agency policies, procedures, bylaws, or guidelines.
``(v) The temporary Board shall expire at the end of the term of
the President in office at the time the temporary Board was
constituted.
``(vi) With respect to a transaction that equals or exceeds
$100,000,000, the Chairperson of the Temporary Board shall ensure that
the Agency complies with section 2(b)(3).''.
(b) Sunset.--The amendments made by subsection (a) shall have no
force or effect after the 7-year period that begins with the date of
the enactment of this Act.
SEC. 109. INFORMATION TECHNOLOGY SYSTEMS.
Section 3(j) of the Export-Import Bank Act of 1945 (12 U.S.C.
635a(j)) is amended--
(1) in paragraph (1), by striking all that precedes
subparagraph (A) and inserting the following:
``(1) In general.--Subject to paragraphs (3) and (4), the
Agency may use an amount equal to 1.25 percent of the surplus
of the Agency during fiscal years 2020 through 2026 to--''; and
(2) by striking paragraph (3) and inserting the following:
``(3) Limitation.--The aggregate of the amounts used in
accordance with paragraph (1) for fiscal years 2020 through
2026 shall not exceed $28,000,000.''.
SEC. 110. ADMINISTRATIVELY DETERMINED PAY.
Section 3 of the Export-Import Bank Act of 1945 (12 U.S.C. 635a),
as amended by the preceding provisions of this Act, is amended by
adding at the end the following:
``(o) Compensation of Employees.--
``(1) Rates of pay.--Subject to paragraph (2), the Board of
Directors of the Agency, consistent with standards established
by the Director of the Office of Minority and Women Inclusion,
may set and adjust rates of basic pay for employees and new
hires of the Agency without regard to the provisions of chapter
51 and subchapter III of chapter 53 of title 5, United States
Code, except that no employee of the Agency may receive a rate
of basic pay that exceeds the rate for level III of the
Executive Schedule under section 5313 of such title.
``(2) Limitations.--The Board of Directors of the Agency
may not apply paragraph (1) to more than 35 employees at any
point in time. Nothing in paragraph (1) may be construed to
apply to any position of a confidential or policy-determining
character that is excepted from the competitive service under
section 3302 of title 5, United States Code, (pursuant to
section C of subpart C of part 213 of title 5 of the Code of
Federal Regulations) or to any position that would otherwise be
subject to section 5311 or 5376 of title 5, United States
Code.''.
SEC. 111. SURVEY ON BLOCKCHAIN USE IN THE OPERATIONS OF UNITED STATES
EXPORTERS.
Within 360 days after the date of the enactment of this Act, and
annually thereafter for the succeeding 5 years, the President of the
United States Export Finance Agency shall submit to the Committee on
Financial Services of the House of Representatives and the Committee on
Banking, Housing, and Urban Affairs of the Senate a written report that
includes the following:
(1) A survey of United States exporters benefitting from
Agency support regarding the use of blockchain in their
operations, including their management of supply chains,
contracts, and payments.
(2) An assessment of the effects of blockchain on
reliability, transparency, and security in the operations.
(3) Any policy recommendations to improve the development,
use, and security of blockchain in the operations of United
States exporters.
TITLE II--IMPROVING AGENCY OPERATIONS AND ENHANCING TRANSPARENCY AND
ACCOUNTABILITY
SEC. 201. ANNUAL TESTIMONY.
The Export-Import Bank Act of 1945 (12 U.S.C. 635-635i-9) is
amended by inserting after section 8A the following:
``SEC. 8B. ANNUAL TESTIMONY.
``For each fiscal year through fiscal year 2026, after submitting
the annual report to Congress under section 8(a) for the fiscal year,
the President of the United States Export Finance Agency shall, on
request, appear before the Committee on Financial Services of the House
of Representatives and the Committee on Banking, Housing, and Urban
Affairs of the Senate to present testimony on--
``(1) the activities of the Agency in the fiscal year
covered by the report, particularly activities pursuant to the
Project on China and Transformational Exports;
``(2) the actions taken by Agency management to strengthen
the ability of the Agency to comply with all statutory
requirements, and with Agency policies and procedures,
including policies and procedures relating to anti-fraud
controls, underwriting standards, and additionality;
``(3) the results of the most recent Federal Employee
Viewpoint Survey or other comparable research on staff
perspectives at the Agency;
``(4) the status of Agency efforts in the preceding fiscal
year to meaningfully address recommendations proposed by the
Inspector General, United States Export Finance Agency; and
``(5) outreach efforts to increase small business awareness
and use of the Agency, including efforts undertaken pursuant to
section 3(i).''.
SEC. 202. INDEPENDENT AUDIT OF REGIONAL EXPORT FINANCE CENTERS.
(a) Audit.--The Inspector General of the United States Export
Finance Agency shall conduct an audit of the operation of the Regional
Export Finance Centers of the Agency, including a review of--
(1) whether the metrics used by the Office of Small
Business to evaluate regional office employees adhere to
guidance issued by the United States Office of Personnel
Management and the Civil Service Reform Act;
(2) whether metrics used by the Office of Small Business to
evaluate regional office employees are sufficiently tailored to
performance requirements;
(3) whether metrics have unintended consequences in the use
of Agency programs; and
(4) metrics are aligned with the requirements of section
2(b)(1)(E)(v) of the Export-Import Bank Act of 1945.
(b) Report.--Not later than 180 days after the audit required by
subsection (a) is completed, the Agency shall submit to the Committee
on Banking, Housing, and Urban Affairs of the Senate and the Committee
on Financial Services of the House of Representatives a written report
detailing the Agency's plan to address deficiencies outlined in the
audit.
SEC. 203. RISK MANAGEMENT COMMITTEE.
(a) In General.--Section 3(m) of the Export-Import Bank Act of 1945
(12 U.S.C. 635a(m)) is amended to read as follows:
``(m) Risk Management Committee.--
``(1) Membership; chair.--There shall be a Risk Management
Committee consisting of the Directors of the Agency other than
the Chairman or the Vice Chairman. The Chairman of the Board of
Directors of the Agency shall designate a member of the Risk
Management Committee to serve as chair of the Risk Management
Committee. If, because of 1 or more vacancies in the offices of
the Directors other than the Chairman or the Vice Chairman, the
Risk Management Committee would have only 1 or 2 members, the
General Counsel shall also serve as a member of the Risk
Management Committee, but shall not serve as chair. If the
Chairman and the Vice Chairman are the only Directors in
office, the Risk Management Committee shall consist of the
Chairman and the General Counsel, and the General Counsel shall
serve as chair.
``(2) Duties.--The Risk Management Committee shall report
to the Board of Directors, and shall be responsible for
providing assistance to the Board in--
``(A) fulfilling the accounting and reporting
responsibilities of the Board;
``(B) determining that the Agency has adequate
administrative and financial controls;
``(C) reviewing the financial statements prepared
by management for distribution to the Congress and the
public;
``(D) providing direction over the internal audit
function and the independent accountants;
``(E) overseeing, in conjunction with the Office of
the Chief Financial Officer of the Agency--
``(i) periodic stress testing on the entire
Agency portfolio, reflecting different market,
industry, and macroeconomic scenarios, and
consistent with best practices of commercial
and multilateral development banks; and
``(ii) the monitoring of industry,
geographic, and obligor exposure levels; and
``(F) reviewing all required reports on the default
rate of the Agency before submission to Congress under
section 8(g).
``(3) Quorum.--2 members of the Risk Management Committee
shall constitute a quorum.''.
(b) Conforming Repeal.--Section 51006 of the Fixing America's
Surface Transportation Act (129 Stat. 1766; Public Law 104-94) is
hereby repealed.
SEC. 204. ENSURING AGENCY COMPLIANCE WITH ADDITIONALITY REQUIREMENTS.
(a) Written Documentation Requirements.--Not later than 180 days
after the date of the enactment of this Act, the Board of Directors of
the United States Export Finance Agency shall, with respect to an
authorization in connection with a transaction equal to or in excess of
$25,000,000--
(1) adopt and implement policies and procedures to ensure
that the Agency includes written documentation of the
determination and verification of additionality in its records,
including--
(A) a description of attempts by relevant parties
to a transaction to obtain private-sector financing;
(B) an explanation of how the level of Agency
financing responds to limitations in the availability
or terms of private capital; and
(C) an assessment, to the extent practicable, of
the availability and terms of competing financing by a
foreign export credit agency;
(2) consult with the Chief Information Officer and the
Inspector General of the Agency to implement appropriate
recordkeeping practices for the written documentation, as well
as for any other documentation required by Agency policies and
procedures; and
(3) submit to the Committee on Financial Services of the
House of Representatives and the Committee on Banking, Housing,
and Urban Affairs of the Senate a written report that includes
a copy of the policies and procedures of the Agency regarding
additionality, and an explanation of how the Agency uses the
determination and verification of additionality to evaluate
applications for support. assistance.
(b) GAO Reviews of Agency Policies and Procedures for Additionality
Determination and Verification.--In each of calendar years 2020, 2022,
and 2024, and 2026, the Comptroller General of the United States shall
review the policies and procedures of the United States Export Finance
Agency relating to how the Agency makes a judgment that a transaction
is unlikely to proceed without support from the Agency, and the
documentation supporting such a judgment, and submit the result of the
review to the Committee on Financial Services of the House of
Representatives and the Committee on Banking, Housing, and Urban
Affairs of the Senate, along with any recommendations to strengthen
Agency policies and processes to determine additionality and prevent
the Agency from competing with private capital, as described in section
2(b)(1)(B) of the Export-Import Bank Act of 1945.
(c) Additional Information Required To Be Provided to Congress
Before Approving Certain Support.--Section 2(b)(3)(B) of the Export-
Import Bank Act of 1945 (12 U.S.C. 635(b)(3)(B)) is amended by
inserting ``, a determination by the Agency as to whether financing by
the Agency fully meets the additionality policies of the Agency, and a
non-confidential summary of the facts and conclusions reached in a
detailed economic impact analysis or similar study conducted pursuant
to subsection (e)(7)'' before the period.
SEC. 205. REINSURANCE PROGRAM.
Section 51008 of the Fixing America's Surface Transportation Act
(12 U.S.C. 635 note) is amended--
(1) in the section heading, by striking ``pilot'';
(2) in subsection (a), by striking ``pilot''; and
(3) by striking subsections (c) through (e) and inserting
the following:
``(c) Factors for Consideration in Reinsurance Pools.--In
implementing this section, the Agency shall, with respect to a
reinsurance pool, pursue appropriate objectives to reduce risk and
costs to the Agency, including by the following, to the extent
practicable:
``(1) Ensuring a reasonable diversification of risks.
``(2) Including larger exposures where the possibility of
default raises overall portfolio risk for the Agency.
``(3) Excluding transactions from the pool that are covered
by first-loss protection.
``(4) Excluding transactions from the pool that are
collateralized at a rate greater than standard market practice.
``(5) Diversifying reinsurance pools by industry and other
appropriate factors.
``(6) Exploring different time periods of coverage.
``(7) Exploring both excess of loss structures on a per-
borrower as well as an aggregate basis.
``(d) Biennial Reports.--Not later than 1 year after the date of
the enactment of this subsection, and every 2 years thereafter through
2026, the Agency shall submit to the Committee on Financial Services of
the House of Representatives and the Committee on Banking, Housing, and
Urban Affairs of the Senate a written report that contains an
assessment of the use of the program carried out under subsection (a)
since the most recent report under this subsection.
``(e) Rule of Construction.--Nothing in this section shall be
construed to limit any authority of the Agency described in section
2(a)(1) of the Export-Import Bank Act of 1945.''.
SEC. 206. REPORT ON NEW AGENCY POLICIES, PROCEDURES, AND BYLAWS.
Not later than 90 days after the date of the enactment of this Act,
the President of the United States Export Finance Agency shall transmit
to the Committee on Financial Services of the House of Representatives
and the Committee on Banking, Housing, and Urban Affairs of the Senate
a copy of all policies, procedures, and bylaws of the Agency approved
by the Board of Directors of the Agency that are in effect on such date
of enactment. Within 30 days after the Board of Directors of the United
States Export Finance Agency adopts or amends such a policy, procedure,
or bylaw, the President of the Agency shall transmit a copy of the
adopted or amended policy, procedure, or bylaw to the Committee on
Financial Services of the House of Representatives and the Committee on
Banking, Housing, and Urban Affairs of the Senate.
SEC. 207. REPORT ON TRAVEL PRACTICES OF AGENCY EMPLOYEES.
Not later than 180 days after the date of the enactment of this
Act, and annually thereafter for the succeeding 7 years, the President
of the United States Export Finance Agency shall submit to the
Committee on Financial Services of the House of Representatives and the
Committee on Banking, Housing, and Urban Affairs of the Senate a
written report that provides details on authorized travel by Agency
officers and employees in the preceding year, including the following:
(1) Travel start date and end date.
(2) Destination or destinations.
(3) The department and division employing the traveler.
(4) Obligated travel costs.
(5) Class of travel.
(6) The amount of any reimbursed travel costs or other
forms of sponsorship.
SEC. 208. REPORT ON STEPS TAKEN TO CORRECT DEFICIENCIES RELATED TO
INFORMATION SECURITY.
Not later than 180 days after the date of the enactment of this
Act, the President of the United States Export Finance Agency shall
submit to the Committee on Financial Services of the House of
Representatives and the Committee on Banking, Housing, and Urban
Affairs of the Senate a written report on the steps the Agency is
taking to correct the deficiencies in policies, procedures, and
programs identified in the Independent Audit of the United States
Export Finance Agency's Information Security Program Effectiveness for
Fiscal Year 2018 (OIG-AR-19-03).
SEC. 209. ADDITIONAL REQUIREMENTS INVOLVING CERTAIN TRANSACTIONS.
(a) In General.--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:
``(14)(A) If the outstanding loans, guarantees, and insurance
authorized by the Agency in association with a United States exporter
or a United States lender equals or exceeds the prescribed amount at
any point in a fiscal year, the President of the Agency shall transmit
to the Committee on Financial Services of the House of Representatives
and the Committee on Banking, Housing, and Urban Affairs of the Senate
a detailed description of policies and practices by the United States
exporter or United States lender, as the case may be, regarding--
``(i) diversity in management, employment, and business
activities, including data pertaining to--
``(I) equal employment opportunity and the racial,
ethnic, and gender diversity of the workforce and
senior management;
``(II) outreach programs to hire qualified women
and minority employees and contract with qualified
minority-owned and women-owned businesses;
``(III) the participation of women-owned and
minority-owned businesses in procurement and
contracting, including as suppliers and subcontractors;
and
``(IV) developments with respect to this clause,
including job creation for women and minority
employees, suppliers, and contractors, resulting from
the policies and practices described in this
subparagraph during the preceding year; and
``(ii) outreach efforts to small businesses during the
preceding year, including efforts that--
``(I) raise awareness of small business procurement
and contracting opportunities;
``(II) educate small businesses involved in
procurement and contracting on the objectives and
activities of the Agency, with the purpose of expanding
direct small business exports financed by the Agency;
and
``(III) developments resulting from the outreach
efforts described in this clause during the preceding
year, including the number of small businesses
contracted with and the number of jobs created, as well
as any other benefits to the communities of the
exporter, lender, or related small businesses, as the
case may be.
``(B) On authorization of financing that equals or exceeds
$100,000,000 during the fiscal year involving the exporter or lender
described in subparagraph (A), the President of the Agency shall
transmit to the Committee on Financial Services of the House of
Representatives and the Committee on Banking, Housing, and Urban
Affairs of the Senate a report that includes--
``(i) an economic impact analysis or similar study of the
transaction performed by the Agency, in a manner consistent
with the procedures described in subsection (e)(7), which shall
include consideration of the views of the public and interested
parties and an assessment of adverse effects on United States
employment, if any, that may result from Agency financing
involving a foreign competitor of a United States entity; and
``(ii) an assessment of how the Agency determined the need
for financing of the transaction, including--
``(I) a description of attempts by relevant parties
to the transaction to obtain private-sector financing,
including a description of the written documentation of
the attempts, or an explanation for the lack of any
such attempt; and
``(II)(aa) an explanation of why private-sector
financing is not available or not economically viable
for the transaction; or
``(bb) a certification that the Agency received
sufficient information to conclude that financing is
necessary to counter official export credit provided by
a foreign government for a similar transaction
involving the same foreign obligor.
``(C) In this paragraph, the term `prescribed amount' means an
amount equal to 20 percent of the outstanding loans, guarantees, and
insurance of the Agency, as calculated on the 1st day of the fiscal
year.''.
(b) Section 8 of such Act (12 U.S.C. 635g), as amended by title I
of this Act, is amended by adding at the end the following:
``(p) Addition to Annual Report.--The Agency shall include in its
annual report to the Congress under subsection (a) information on the
10 United States exporters benefitting from the highest level of Agency
support and 10 foreign obligors utilizing the highest level of Agency
support during the reporting period, including the share of total
authorizations by value, and the industry or industrial sector,
connected with each such exporter and obligor.''.
SEC. 210. ANTI-FRAUD REFORMS.
Section 2 of the Export-Import Bank Act of 1945 (12 U.S.C. 635) is
amended--
(1) in subsection (f), by striking the period and
inserting: ``, and shall deny an application for assistance
if--
``(1) the Agency has substantial credible evidence that the
end user, borrower, lender, or exporter has committed an act of
fraud or corruption in connection with the application; or
``(2) the end user, borrower, lender, or exporter has been
convicted of an act of fraud or corruption in connection with
an application for support from the Agency made in the
preceding 5 years.
The Agency may proceed with an application described under paragraph
(1) or (2) of this subsection only if an end user, borrower, lender, or
exporter can be fully excluded from the transaction.''; and
(2) in subsection (i), by striking ``should require'' and
inserting ``shall require''.
TITLE III--FOREIGN POLICY CONSIDERATIONS
SEC. 301. CHINESE GOVERNMENT-OWNED ENTERPRISES.
(a) In General.--Section 2 of the Export-Import Bank Act of 1945
(12 U.S.C. 635), as amended by section 103(a) of this Act, is amended
by adding at the end the following:
``(m) Restriction on Financing for Entities Owned or Controlled by
the Chinese Government.--
``(1) In general.--An authorization approved by the Board
of Directors after the effective date of this subsection may
not take effect if a loan, guarantee, or insurance is approved
for the benefit of any foreign entity that is at least 25
percent owned, directly or indirectly, by the government of the
People's Republic of China, unless the United States Trade
Representative, in consultation with appropriate Federal
agencies, completes a due diligence review and certifies the
financing, in accordance with paragraph (3), in a report to the
Committee on Financial Services of the House of Representatives
and the Committee on Banking, Housing, and Urban Affairs of the
Senate. For the purposes of identifying whether a foreign
entity is at least 25 percent owned, directly or indirectly, by
the government of the People's Republic of China, the Board of
Directors may rely on any of the following:
``(A) Information required of or provided by a
party to the transaction.
``(B) Any information provided to the Agency by a
Federal department or agency.
``(2) Limitation on financing of local costs.--The Agency
may not approve financing for a transaction if more than 15
percent of local costs with respect to the transaction that are
incurred in the People's Republic of China would be covered by
the financing.
``(3) Due diligence review and report.--For the purposes of
the report described in paragraph (1), the United States Trade
Representative shall present the findings of the due diligence
review, but may not provide the certification referred to in
paragraph (1), if--
``(A) the foreign entity provides goods, services,
or other material or financial support in connection
with any of the following policies and operations of
the government of the People's Republic of China:
``(i) Any military or intelligence
operations;
``(ii) Activities pursuant to the Belt and
Road Initiative (or any successor or comparable
activity of that government);
``(iii) The abuse of human rights,
including the restriction of freedom of
expression and the mistreatment of ethnic or
religious minorities in China;
``(iv) Any other policy or operation that,
in the determination of the President, may
threaten the national interest of the United
States;
``(B) the United States Trade Representative finds
that the transaction would not provide a meaningful net
economic benefit for the United States;
``(C) the foreign entity knowingly engages in the
theft of United States intellectual property or the
illicit transfer of technology from a United States
person;
``(D) the transaction described in paragraph (1)
involves the export of critical technologies (as
defined under section 721(a)(6) of the Defense
Production Act of 1950) to the foreign entity; or
``(E) the leadership of the foreign entity engages
in a significant act or acts of corruption or money
laundering, or has committed a violation of the Foreign
Corrupt Practices Act of 1977, the Arms Export Control
Act, the International Emergency Economic Powers Act,
or the Export Administration Act of 1979.
``(4) Timing and form of report.--The report described in
paragraph (3) shall be submitted not later than 45 days after
approval by the Board of Directors, except that the United
States Trade Representative may extend the required time in
which to submit the report by one 15-day period on notifying
the Committee on Financial Services of the House of
Representatives and the Committee on Banking, Housing, and
Urban Affairs of the Senate that the extension is necessary.
The report described in paragraph (3) shall be submitted in
unclassified form but may contain a classified annex.
``(5) Procedures for chinese government-controlled
entities.--The requirements of paragraph (1) shall apply to any
foreign entity, notwithstanding the level of ownership by the
government of the People's Republic of China, if the Agency has
reason to believe that the foreign entity is controlled by the
government of the People's Republic of China.
``(6) Exemption.--Paragraphs (1) and (2) shall not apply to
the following if--
``(A) financing would enable exports directly by
United States small business concerns; or
``(B) financing is required for the export of
humanitarian goods or services, including lifesaving,
rescue, and medical equipment (such as ambulances,
firefighting vehicles, hospital supplies, and medical
devices).
``(7) Presidential waiver.--The President may waive any
requirement of paragraph (1) or (2) for up to 1 year at a time,
on reporting in writing to the Committee on Financial Services
of the House of Representative and the Committee on Banking,
Housing, and Urban Affairs of the Senate that the waiver is
essential to the national interest of the United States, with a
detailed explanation of the reasons therefor.''.
(b) Sunset.--The amendment made by subsection (a) shall have no
force or effect on and after the earlier of--
(1) the date that is 30 days after the Secretary of the
Treasury submits a report to the Committee on Financial
Services of the House of Representatives and the Committee on
Banking, Housing, and Urban Affairs of the Senate certifying
that the People's Republic of China is in substantial
compliance with--
(A) the financial terms and conditions of the
Arrangement on Officially Supported Export Credits of
the Organization for Economic Cooperation and
Development; and
(B) the rules and principles of the Paris Club; or
(2) the date that is 30 days after the President of the
United States Export Finance Agency reports to the Committee on
Financial Services of the House of Representatives and the
Committee on Banking, Housing, and Urban Affairs of the Senate
that the Board of Directors of the Agency has voted in favor of
terminating the requirement for a certification in section
2(m)(1) of the Export-Import Bank Act of 1945, except that the
Board of Directors may not hold such a vote before the date
that is 5 years after the date of the enactment of this Act.
SEC. 302. INTERNATIONAL NEGOTIATIONS ON EXPORT SUBSIDIES.
(a) In General.--Section 11(a)(1) of the Export-Import Bank
Reauthorization Act of 2012 (12 U.S.C. 635a-5(a)(1)) is amended by
striking ``with possible goal of eliminating, before the date that is
10 years after December 4, 2015,'' and inserting ``with the goal of
eliminating, before the date that is 10 years after the date of the
enactment of the United States Export Finance Agency Act of 2019''.
(b) Progress Report.--Section 11(e) of such Act (12 U.S.C. 635a-
5(e)) is amended by striking ``2019'' and inserting ``2026''.
(c) Conduct of Negotiations.--Section 11 of such Act (12 U.S.C.
635a-5) is amended--
(1) in each of subsections (a) and (d), by striking ``The
President'' and inserting ``Not less frequently than twice per
calendar year, the Secretary of the Treasury, in consultation
with the President of the United States Export Finance Agency
and the United States Trade Representative,''; and
(2) in each of subsections (b), (c), and (e), by striking
``President'' each place it appears and inserting ``Secretary
of the Treasury''.
SEC. 303. PROHIBITION ON FINANCING FOR EXPORTS INVOLVING STATE SPONSORS
OF TERRORISM.
Section 2(b)(2) of the Export-Import Bank Act of 1945 (12 U.S.C.
635(b)(2)) is amended--
(1) in the paragraph heading, by inserting after ``Marxist-
leninist countries'' the following: ``and state sponsors of
terrorism''; and
(2) in subparagraph (A), by inserting after ``Marxist-
Leninist country'' each place it appears ``or a state sponsor
of terrorism''.
TITLE IV--MISCELLANEOUS PROVISIONS
SEC. 401. MISCELLANEOUS UPDATES RELATING TO THE UNITED STATES EXPORT
FINANCE AGENCY.
(a) Section 2(a)(3) of the Export-Import Bank Act of 1945 (12
U.S.C. 635(a)(3)) is amended--
(1) by adding ``and'' at the end of subparagraph (B);
(2) by striking ``; and'' at the end of subparagraph (C)
and inserting a period; and
(3) by striking subparagraph (D).
(b) Section 2(b)(1)(H) of such Act (12 U.S.C. 635(b)(1)(H)) is
amended in each of clauses (ii) and (iii) by striking ``including'' and
all that follows and inserting ``including United States allies and
partners eligible for assistance from the International Bank for
Reconstruction and Development and the International Development
Association.''.
(c) Section 2(b)(1)(I) of such Act (12 U.S.C. 635(b)(1)(I)) is
amended by striking the 2nd sentence.
(d) Section 2(b)(3)(A)(iii) of such Act (12 U.S.C.
635(b)(3)(A)(iii)) is amended by inserting ``, the United States
exporter,'' before ``and''.
(e) Section 2(b)(3)(B) of such Act (12 U.S.C. 635(b)(3)(B)) is
amended by inserting ``a description, to the extent practicable, of any
private financing, used or unused, available for the transaction, to
the extent known,'' before ``the amount''.
(f) Section 3(d)(1)(B) of such Act (12 U.S.C. 635a(d)(1)(B)) is
amended by inserting ``high technology,'' before ``and''.
(g) Section 3(j)(2)(B)(ii) of such Act (12 U.S.C.
635a(j)(2)(B)(ii)) is amended--
(1) by inserting ``, interest, and claim'' before
``expenses''; and
(2) by inserting ``including broker commissions'' before
the period.
(h) Section 8(b)(3) of such Act (12 U.S.C. 635g(b)(3)) is amended--
(1) by striking ``Committee on Small Business'' the 1st
place it appears and inserting ``Committees on Banking,
Housing, and Urban Affairs and on Small Business''; and
(2) by striking ``Committee on Small Business'' the 2nd
place it appears and inserting ``Committees on Financial
Services and on Small Business''.
(i)(1) Section 8 of such Act (12 U.S.C. 635g), as amended by the
preceding provisions of this Act, is amended--
(A) by striking subsection (c) and redesignating
subsections (d) through (o) as subsections (c) through (p),
respectively; and
(B) in paragraph (2) of subsection (e) (as so redesignated
by subparagraph (A) of this paragraph), by striking ``(e)'' and
inserting ``(d)''.
(2) Section 6(a)(3) of such Act (12 U.S.C. 635e(a)(3)) is amended
by striking ``8(g)(1)'' each place it appears and inserting
``8(f)(1)''.
(j) Section 10(b)(4) of such Act (12 U.S.C. 635i-3(b)(4)) is
amended by striking ``may'' and inserting ``shall, on request''.
SEC. 402. PROHIBITION ON FINANCING FOR CERTAIN AVIATION-RELATED
VEHICLES.
Section 2(b) of the Export-Import Bank Act of 1945 (12 U.S.C.
635(b)), as amended by section 209(a) of this Act, is amended by adding
at the end the following:
``(15) Prohibition on Financing for Certain Aviation-Related
Vehicles.--The Board of Directors of the Agency may not give approval
to a transaction involving an aviation-related vehicle during any
period in which the Federal Government has prohibited its operation.''.
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