Increasing American Jobs Through More Exports Act - Amends the Export-Import Bank Act of 1945 to authorize the Export-Import Bank of the United States, subject to appropriations, to use up to 3% of the Bank's surplus, for each of the 5 fiscal years following enactment of this Act, to cover its administrative expenses.
Requires the Bank to use at least one-third of that 3% of surplus to expand or establish Bank regional offices.
[Congressional Bills 113th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4271 Introduced in House (IH)]
113th CONGRESS
2d Session
H. R. 4271
To authorize the Export-Import Bank of the United States to use 3
percent of its profits for administrative expenses.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
March 14, 2014
Mr. Ruiz (for himself, Mr. McGovern, Ms. Kuster, and Mr. Garcia)
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.
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 ``Increasing American Jobs Through
More Exports Act''.
SEC. 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;
``(k) 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.''.
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Introduced in House
Introduced in House
Referred to the House Committee on Financial Services.
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