An original bill to encourage exports by facilitating the formation and operation of export trading companies, export trade associations, and the expansion of export trade services generally.

(Measure passed Senate, amended, roll call #386 (77-0))

=Title I: Export Trading Companies= - Export Trading Company Act of 1980 - Directs the Secretary of Commerce to promote export trading companies and facilitate contacts between producers of exportable goods and export trading companies. Defines "export trading company" to mean a company which is exclusively engaged in international trade related activities, whether operated for profit or as a nonprofit organization. Prohibits such companies from engaging in: (1) underwriting, selling, or distributing securities; or (2) manufacturing or agricultural production activities.

Authorizes any banking organization to invest up to specified amounts in export trading companies upon notifying, but without obtaining the prior approval of, the appropriate Federal banking agency, if such investment does not cause an export trading company to become a subsidiary of such organization. Allows greater investment by Edge Act Corporations not engaged in banking. Permits any banking organization to invest beyond such limitations with the prior approval of the appropriate Federal banking agency. Requires prior notification of such agencies in specified circumstances.

Sets forth further limitations on export trading companies and investments by banking organizations. Specifies factors to be taken into consideration by the banking agencies, including the benefits to small, medium-size, and minority businesses. Permits such agencies to impose conditions in approving applications to invest in export trading companies, including inventory-to-capital ratios. Requires such agencies to report to the appropriate congressional committees concerning implementation of this Act and any recommendations. Provides for judicial review of denial orders in the appropriate U.S. Court of Appeals. Sets forth the grounds for disapproval. Provides for remand for further consideration by the banking agency.

Permits State chartered banks to invest in export trading companies only if specifically authorized by State law.

Directs the Economic Development Administration and the Small Business Administration to give special weight to export-related benefits when considering applications for loans and guarantees by export trading companies and for operating grants to nonprofit organizations.

Directs the Export-Import Bank of the United States to provide loan guarantees to export trading companies or exporters to be secured by accounts receivable or inventories when adequate financing is not otherwise available and such guarantees will facilitate expansion of exports. Requires the Board of Directors to attempt to insure that a major share of any loan guarantees serve to promote exports from small, medium-size, and minority businesses or agricultural concerns.

Authorizes the Secretary to make grants to subsidize the employment of export managers by small business manufacturing firms which have not previously been exporters in substantial amounts. Establishes ceilings on such grants. Sets forth requirements of applicants for such grants. Directs the Secretary to develop a plan to evaluate the cost-effectiveness of such program as compared with other export promotion programs. Requires the Secretary to submit such evaluation and any recommendations to Congress.

=Title II: Export Trade Associations= - Export Trade Association Act of 1980 - Amends the Webb-Pomerene Act to exempt the export trade, export trade activities, and methods of operation of certified export trade associations and export trading companies from the antitrust laws. Delays the effectiveness of any certificate upon the notification of the Secretary of Commerce by the Attorney General or the Federal Trade Commission (FTC) of disagreement with the decision to issue a certificate.

Sets forth the procedure to be followed by any association or export trading company seeking certification under this Act and by the Secretary in issuing such certificates. Provides for automatic certification of existing associations.

Provides for appeal of the Secretary's denial of certification. Authorizes the Attorney General or the FTC to bring an action to invalidate a certification.

Requires compliance with U.S. export control laws by associations, export trading companies, and their subsidiaries.

Requires the Secretary, in consultation with the Attorney General and the FTC, to publish guidelines for determining whether an association or export trading company will meet the certification requirements. Requires certified associations and export trading companies to submit annual reports to the Secretary.

Directs the Secretary to establish within the Department of Commerce an office to promote export trade associations and trading companies. Requires such office to report annually to the appropriate congressional committees concerning East-West trade transactions.

Grants a temporary antitrust exemption to existing associations.

Requires that all applications for certification be kept confidential with specified exceptions. Authorizes the Secretary to require an association or trading company to modify its operation to be consistent with international obligations of the United States.

Directs the President to appoint, with the Senate's advice and consent, a task force seven years after enactment to examine the effect of this Act and to make recommendations.

=Title III: Senate Funding= - Limits, for fiscal year 1981, the Senate to 90 percent of the aggregate funds available during fiscal year 1980.