Section 1 Short title
This Act may be cited as the “Made-in-America Bank Act”.
Made-in-America Bank Act
A BILL
To create the Made-in-America Bank.
Sec. 2 Redesignation of the Export-Import Bank as the Made-in-America Bank
Redesignation— Paragraph (1) of subsection (a) of section 2 of the Export-Import Bank Act of 1945 (12 U.S.C. 635(a)(1)) is amended by striking “Export-Import Bank” and inserting “Made-in-America Bank”.
References— Any reference in any law, map, regulation, document, paper, or other record of the United States to the Federal agency renamed in subsection (a) shall be deemed to be a reference to the “Made-in-America Bank”.
Sec. 3 Financing made available to American entities purchasing American made goods
All guarantees, loans, insurance, and any other benefits historically provided by the Export-Import Bank may only be made to a domestic entity that is not majority-owned by any foreign person or entity and only for the purpose of acquiring goods or services made in America.
Sec. 4 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 “2016”.
Sec. 5 Effective date
The amendments made by this Act shall take effect on October 1, 2014, or the date of enactment of this Act, whichever is later.