Export-Import Bank Reauthorization Act of 2014 - Amends the Export-Import Bank Act of 1945 to reauthorize the Export-Import Bank of the United States through FY2019.
Extends, for FY2015-FY2019, the Bank's authority to use a specified amount of its surplus for information technology system updates.
Extends, through FY2019, the termination date of the sub-Saharan Africa advisory committee.
Prescribes limitations on outstanding Bank loans, guarantees, and insurance for FY2015-FY2018 and each fiscal year thereafter.
Extends, through FY2019, Bank authority to provide financing for the export of nonlethal defense articles and defense services whose primary end use is for civilian purposes.
Directs the Bank to submit to Congress and the Comptroller General (GAO) a business plan that includes an estimate of the Bank's appropriate exposure limits for FY2015-FY2019.
Directs GAO to study the Bank's medium-term financing programs.
[Congressional Bills 113th Congress]
[From the U.S. Government Publishing Office]
[S. 2709 Placed on Calendar Senate (PCS)]
Calendar No. 502
113th CONGRESS
2d Session
S. 2709
To extend and reauthorize the Export-Import Bank of the United States,
and for other purposes.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
July 30, 2014
Mr. Manchin (for himself, Mr. Kirk, Mr. Blunt, Mr. Donnelly, Mr.
Warner, Ms. Cantwell, Mr. Johnson of South Dakota, and Mr. Kaine)
introduced the following bill; which was read the first time
July 31, 2014
Read the second time and placed on the calendar
_______________________________________________________________________
A BILL
To extend and reauthorize the Export-Import Bank of the United States,
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; TABLE OF CONTENTS.
(a) Short Title.--This Act may be cited as the ``Export-Import Bank
Reauthorization Act of 2014''.
(b) Table of Contents.--The table of contents for this Act is as
follows:
Sec. 1. Short title; table of contents.
Sec. 2. Extension of authority.
Sec. 3. Information technology systems.
Sec. 4. Sub-Saharan Africa advisory committee.
Sec. 5. Limitations on loans, guarantees, and insurance.
Sec. 6. Dual-use exports.
Sec. 7. Exposure limit business plan.
Sec. 8. Government Accountability Office study on medium-term financing
programs.
SEC. 2. EXTENSION OF AUTHORITY.
Section 7 of the Export-Import Bank Act of 1945 (12 U.S.C. 635f) is
amended by striking ``2014'' and inserting ``2019''.
SEC. 3. INFORMATION TECHNOLOGY SYSTEMS.
Section 3(j) of the Export-Import Bank Act of 1945 (12 U.S.C
635a(j)) is amended by striking ``2012, 2013, and 2014'' each place it
appears and inserting ``2015, 2016, 2017, 2018, and 2019''.
SEC. 4. SUB-SAHARAN AFRICA ADVISORY COMMITTEE.
Section 2(b)(9)(B)(iii) of the Export-Import Bank Act of 1945 (12
U.S.C. 635(b)(9)(B)(iii)) is amended by striking ``2014'' and inserting
``2019''.
SEC. 5. LIMITATIONS ON LOANS, GUARANTEES, AND INSURANCE.
Section 6(a)(2) of the Export-Import Bank Act of 1945 (12 U.S.C.
635e(a)(2)) is amended--
(1) by striking subparagraphs (A) through (E);
(2) by redesignating subparagraph (F) as subparagraph (A);
(3) in subparagraph (A), as redesignated by paragraph (2)--
(A) in the matter preceding clause (i), by striking
``fiscal year 2012 and each succeeding fiscal year''
and inserting ``fiscal years 2012, 2013, and 2014'';
and
(B) in clause (ii)(III), by striking the period at
the end and inserting ``; and''; and
(4) by adding at the end the following:
``(B) during fiscal year 2015 and each fiscal year
thereafter, $145,000,000,000, except that--
``(i) the applicable amount for fiscal year
2016 shall be $150,000,000,000 if--
``(I) the Bank submitted the report
required by section 7(a) of the Export-
Import Bank Reauthorization Act of
2014;
``(II) the Secretary of the
Treasury submitted the report required
to be submitted during the preceding
fiscal year under section 11(b) of the
Export-Import Bank Reauthorization Act
of 2012 (12 U.S.C. 635a-5(b)); and
``(III) the rate calculated under
section 8(g)(1) of this Act is less
than 2 percent for the quarter ending
with the beginning of the fiscal year,
or for any quarter in the fiscal year;
and
``(ii) the applicable amount for fiscal
year 2017 shall be $155,000,000,000, and the
applicable amount for fiscal year 2018 and each
fiscal year thereafter shall be
$160,000,000,000, if--
``(I) the Secretary of the Treasury
submitted the report required to be
submitted during the preceding fiscal
year under section 11(b) of the Export-
Import Bank Reauthorization Act of 2012
(12 U.S.C. 635a-5(b)); and
``(II) the rate calculated under
section 8(g)(1) of this Act is less
than 2 percent for the quarter ending
with the beginning of the fiscal year,
or for any quarter in the fiscal
year.''.
SEC. 6. DUAL-USE EXPORTS.
Section 1(c) of Public Law 103-428 (12 U.S.C. 635 note) is amended
by striking ``2014'' and inserting ``2019''.
SEC. 7. EXPOSURE LIMIT BUSINESS PLAN.
(a) In General.--Not later than 180 days after the date of the
enactment of this Act, the Export-Import Bank of the United States
shall submit to Congress and the Comptroller General of the United
States a report that contains the following:
(1) A business plan that includes--
(A) an estimate by the Bank of the appropriate
exposure limits of the Bank for fiscal years 2015
through 2019;
(B) a justification for the estimate; and
(C) an estimate of any anticipated growth of the
Bank during fiscal years 2015 through 2019,
disaggregated by--
(i) industry sector;
(ii) whether the products involved are
short-term loans, medium-term loans, long-term
loans, insurance, medium-term guarantees, or
long-term guarantees; and
(iii) key market.
(2) An analysis of the potential for increased or decreased
risk of loss to the Bank as a result of the estimated exposure
limit, including an analysis of increased or decreased risks
associated with changes in the composition of Bank exposure,
disaggregated by industry sector, product offered, and key
market.
(3) An analysis of the ability of the Bank to meet its
mandates with respect to small business and sub-Saharan Africa
and comply with its carbon policy mandate under the proposed
exposure limit, and an analysis of any increased or decreased
risk of loss associated with meeting or complying with the
mandates under the proposed exposure limit.
(4) An analysis of the adequacy of the resources of the
Bank to effectively process, approve, and monitor
authorizations, including the conducting of required economic
impact analyses, under the proposed exposure limit.
(b) Review of Report and Business Plan by Government Accountability
Office.--Not later than 180 days after receiving the report and
business plan submitted under subsection (a), the Comptroller General
of the United States shall submit to Congress a report analyzing the
report and business plan. The report of the Comptroller General shall
include such recommendations with respect to the report and business
plan as the Comptroller General considers appropriate.
SEC. 8. GOVERNMENT ACCOUNTABILITY OFFICE STUDY ON MEDIUM-TERM FINANCING
PROGRAMS.
(a) Study.--The Comptroller General of the United States shall
conduct a study of the medium-term financing programs of the Export-
Import Bank of the United States--
(1) to identify practices that may pose risks to the
taxpayer, the soundness of such programs, or compliance with
Bank policies;
(2) to identify practices that may limit the use of such
programs by businesses qualified for such programs; and
(3) to assess any steps the Bank has taken to address
practices identified under paragraph (1) or (2).
(b) Consideration of Past Findings.--In conducting the study
required by subsection (a), the Comptroller General shall consider past
findings by the Inspector General of the Export-Import Bank of the
United States on the matters covered by the study.
(c) Report.--Not later than one year after the date of the
enactment of this Act, the Comptroller General 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
report on the results of the study required by subsection (a). The
report shall include such recommendations for additional action as the
Comptroller General considers appropriate.
Calendar No. 502
113th CONGRESS
2d Session
S. 2709
_______________________________________________________________________
A BILL
To extend and reauthorize the Export-Import Bank of the United States,
and for other purposes.
_______________________________________________________________________
July 31, 2014
Read the second time and placed on the calendar
Introduced in Senate
Introduced in the Senate. Read the first time. Placed on Senate Legislative Calendar under Read the First Time.
Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 502.
Llama 3.2 · runs locally in your browser
Ask anything about this bill. The AI reads the full text to answer.
Enter to send · Shift+Enter for new line