Export-Import Bank Reauthorization Act of 2014
A BILL
To extend and reauthorize the Export-Import Bank of the United States, and for other purposes.
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—
by striking subparagraphs (A) through (E);
by redesignating subparagraph (F) as subparagraph (A);
in subparagraph (A), as redesignated by paragraph (2)—
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
in clause (ii)(III), by striking the period at the end and inserting “; and”; and
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
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:
A business plan that includes—
an estimate by the Bank of the appropriate exposure limits of the Bank for fiscal years 2015 through 2019;
a justification for the estimate; and
an estimate of any anticipated growth of the Bank during fiscal years 2015 through 2019, disaggregated by—
industry sector;
whether the products involved are short-term loans, medium-term loans, long-term loans, insurance, medium-term guarantees, or long-term guarantees; and
key market.
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.
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.
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.
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
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—
to identify practices that may pose risks to the taxpayer, the soundness of such programs, or compliance with Bank policies;
to identify practices that may limit the use of such programs by businesses qualified for such programs; and
to assess any steps the Bank has taken to address practices identified under paragraph (1) or (2).
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.
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.