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S. 1026 (105th): Export-Import Bank Reauthorization Act of 1997


The text of the bill below is as of Oct 6, 1997 (Passed the House with an Amendment).


S 1026 EAH

In the House of Representatives, U. S.,

October 6, 1997.

    Resolved, That the bill from the Senate (S. 1026) entitled ‘An Act to reauthorize the Export-Import Bank of the United States.’, do pass with the following

AMENDMENT:

Strike out all after the enacting clause and insert:

SECTION 1. EXTENSION OF AUTHORITY.

    Section 7 of the Export-Import Bank Act of 1945 (12 U.S.C. 635f) is amended by striking ‘1997’ and inserting ‘2001’.

SEC. 2. TIED AID CREDIT FUND AUTHORITY.

    (a) Section 10(c)(2) of the Export-Import Bank Act of 1945 (12 U.S.C. 635i-3(c)(2)) is amended by striking ‘through September 30, 1997’.

    (b) Section 10(e) of such Act (12 U.S.C. 635i-3(e)) is amended by striking the first sentence and inserting the following: ‘There are authorized to be appropriated to the Fund such sums as may be necessary to carry out the purposes of this section.’.

SEC. 3. EXTENSION OF AUTHORITY TO PROVIDE FINANCING FOR THE EXPORT OF NONLETHAL DEFENSE ARTICLES OR SERVICES THE PRIMARY END USE OF WHICH WILL BE FOR CIVILIAN PURPOSES.

    Section 1(c) of Public Law 103-428 (12 U.S.C. 635 note; 108 Stat. 4376) is amended by striking ‘1997’ and inserting ‘2001’.

SEC. 4. CLARIFICATION OF PROCEDURES FOR DENYING CREDIT BASED ON THE NATIONAL INTEREST.

    Section 2(b)(1)(B) of the Export-Import Bank Act of 1945 (12 U.S.C. 635(b)(1)(B)) is amended--

      (1) in the last sentence, by inserting ‘, after consultation with the Committee on Banking and Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate,’ after ‘President’; and

      (2) by adding at the end the following: ‘Each such determination shall be delivered in writing to the President of the Bank, shall state that the determination is made pursuant to this section, and shall specify the applications or categories of applications for credit which should be denied by the Bank in furtherance of the national interest.’.

SEC. 5. ADMINISTRATIVE COUNSEL.

    Section 3(e) of the Export-Import Bank Act of 1945 (12 U.S.C. 635a(e)) is amended--

      (1) by inserting ‘(1)’ after ‘(e)’; and

      (2) by adding at the end the following:

    ‘(2) The General Counsel of the Bank shall ensure that the directors, officers, and employees of the Bank have available appropriate legal counsel for advice on, and oversight of, issues relating to ethics, conflicts of interest, personnel matters, and other administrative law matters by designating an attorney to serve as Assistant General Counsel for Administration, whose duties, under the supervision of the General Counsel, shall be concerned solely or primarily with such issues.’.

SEC. 6. ADVISORY COMMITTEE FOR SUB-SAHARAN AFRICA.

    (a) IN GENERAL- Section 2(b) of the Export-Import Bank Act of 1945 (12 U.S.C. 635(b)) is amended by inserting after paragraph (8) the following:

    ‘(9)(A) The Board of Directors of the Bank shall take prompt measures, consistent with the credit standards otherwise required by law, to promote the expansion of the Bank’s financial commitments in sub-Saharan Africa under the loan, guarantee, and insurance programs of the Bank.

    ‘(B)(i) The Board of Directors shall establish and use an advisory committee to advise the Board of Directors on the development and implementation of policies and programs designed to support the expansion described in subparagraph (A).

    ‘(ii) The advisory committee shall make recommendations to the Board of Directors on how the Bank can facilitate greater support by United States commercial banks for trade with sub-Saharan Africa.

    ‘(iii) The advisory committee shall terminate 4 years after the date of the enactment of this subparagraph.’.

    (b) REPORTS TO THE CONGRESS- Within 6 months after the date of the enactment of this Act, and annually for each of the 4 years thereafter, the Board of Directors of the Export-Import Bank of the United States submit to the Congress a report on the steps that the Board has taken to implement section 2(b)(9)(B) of the Export-Import Bank Act of 1945 and any recommendations of the advisory committee established pursuant to such section.

SEC. 7. INCREASE IN LABOR REPRESENTATION ON THE ADVISORY COMMITTEE OF THE EXPORT-IMPORT BANK.

    Section 3(d)(2) of the Export-Import Bank Act of 1945 (12 U.S.C. 635a(d)(2)) is amended--

      (1) by inserting ‘(A)’ after ‘(2)’; and

      (2) by adding after and below the end the following:

    ‘(B) Not less than 2 members appointed to the Advisory Committee shall be representative of the labor community.’.

SEC. 8. OUTREACH TO COMPANIES.

    Section 2(b)(1) of the Export-Import Bank Act of 1945 (12 U.S.C. 635(b)(1)) is amended by adding at the end the following:

    ‘(I) The Chairman of the Bank shall design and implement a program to provide information about Bank programs to companies which have not participated in Bank programs. Not later than 1 year after the date of the enactment of this subparagraph, the Chairman of the Bank shall submit to the Congress a report on the activities undertaken pursuant to this subparagraph.’.

SEC. 9. FIRMS THAT HAVE SHOWN A COMMITMENT TO REINVESTMENT AND JOB CREATION IN THE UNITED STATES TO BE GIVEN PREFERENCE IN FINANCIAL ASSISTANCE DETERMINATIONS.

    Section 2(b)(1) of the Export-Import Bank Act of 1945 (12 U.S.C. 635(b)(1)), as amended by section 8 of this Act, is amended by adding at the end the following:

    ‘(J) The Board of Directors of the Bank shall prescribe such regulations and the Bank shall implement such procedures as may be appropriate to ensure that, in selecting from among firms to which to provide financial assistance, preference be given to any firm that has shown a commitment to reinvestment and job creation in the United States.’.

SEC. 10. PREFERENCE IN EXPORT-IMPORT BANK ASSISTANCE FOR EXPORTS TO CHINA TO BE PROVIDED TO COMPANIES ADHERING TO CODE OF CONDUCT.

    (a) IN GENERAL- Section 2 of the Export-Import Bank Act of 1945 (12 U.S.C. 635) is amended by adding at the end the following:

    ‘(f) PREFERENCE IN ASSISTANCE FOR EXPORTS TO CHINA TO BE PROVIDED TO ENTITIES ADHERING TO CODE OF CONDUCT-

      ‘(1) PROHIBITIONS-

        ‘(A) IN GENERAL- In determining whether to guarantee, insure, extend credit, or participate in the extension of credit with respect to the export of goods or services destined for the People’s Republic of China, the Board of Directors shall give preference to entities that the Board of Directors determines have established and are adhering to the code of conduct set forth in paragraph (2).

        ‘(B) PENALTY FOR VIOLATION- The Bank shall withdraw any guarantee, insurance, or credit that the Bank has provided, and shall withdraw from any participation in an extension of credit, to an entity with respect to the export of any good or service destined for the People’s Republic of China if the Board of Directors determines that the entity is not adhering to the code of conduct set forth in paragraph (2).

      ‘(2) CODE OF CONDUCT- An entity shall do all of the following in all of its operations:

        ‘(A) Provide a safe and healthy workplace.

        ‘(B) Ensure fair employment, including by--

          ‘(i) avoiding child and forced labor, and discrimination based upon race, gender, national origin, or religious beliefs;

          ‘(ii) respecting freedom of association and the right to organize and bargain collectively;

          ‘(iii) paying not less than the minimum wage required by law or the prevailing industry wage, whichever is higher; and

          ‘(iv) providing all legally mandated benefits.

        ‘(C) Obey all applicable environmental laws.

        ‘(D) Comply with United States and local laws promoting good business practices, including laws prohibiting illicit payments and ensuring fair competition.

        ‘(E) Maintain, through leadership at all levels, a corporate culture--

          ‘(i) which respects free expression consistent with legitimate business concerns, and does not condone political coercion in the workplace;

          ‘(ii) which encourages good corporate citizenship and makes a positive contribution to the communities in which the entity operates; and

          ‘(iii) in which ethical conduct is recognized, valued, and exemplified by all employees.

        ‘(F) Require similar behavior by partners, suppliers, and subcontractors under terms of contracts.

        ‘(G) Implement and monitor compliance with the subparagraphs (A) through (F) through a program that is designed to prevent and detect noncompliance by any employee or supplier of the entity and that includes--

          ‘(i) standards for ethical conduct of employees of the entity and of suppliers which refer to the subparagraphs;

          ‘(ii) procedures for assignment of appropriately qualified personnel at the management level to monitor and enforce compliance;

          ‘(iii) procedures for reporting noncompliance by employees and suppliers;

          ‘(iv) procedures for selecting qualified individuals who are not employees of the entity or of suppliers to monitor compliance, and for assessing the effectiveness of such compliance monitoring;

          ‘(v) procedures for disciplinary action in response to noncompliance;

          ‘(vi) procedures designed to ensure that, in cases in which noncompliance is detected, reasonable steps are taken to correct the noncompliance and prevent similar noncompliance from occurring; and

          ‘(vii) communication of all standards and procedures with respect to the code of conduct to every employee and supplier--

            ‘(I) by requiring all management level employees and suppliers to participate in a training program; or

            ‘(II) by disseminating information orally and in writing, through posting of an explanation of the standards and procedures in prominent places sufficient to inform all employees and suppliers, in the local languages spoken by employees and managers.

      ‘(3) SMALL BUSINESS EXCEPTION- This subsection shall not apply to an entity that is a small business (within the meaning of the Small Business Act).’.

    (b) ANNUAL REPORT- Section 2(b)(1)(A) of such Act (12 U.S.C. 635(b)(1)(A)) is amended by adding at the end the following: ‘The Bank shall include in the annual report a description of the actions the Bank has taken to comply with subsection (f) during the period covered by the report.’.

    (c) RECIPIENTS OF ASSISTANCE FROM THE EXPORT-IMPORT BANK TO BE PROVIDED WITH RESOURCES AND INFORMATION TO FURTHER ADHERENCE TO GLOBAL CODES OF CORPORATE CONDUCT- The Export-Import Bank of the United States shall work with the Clearinghouse on Corporate Responsibility that is being developed by the Department of Commerce to ensure that recipients of assistance from the Export-Import Bank are made aware of, and have access to, resources and organizations that can assist the recipients in developing, implementing, and monitoring global codes of corporate conduct.

SEC. 11. RENAMING OF BANK AS THE UNITED STATES EXPORT BANK.

    (a) AMENDMENTS TO THE EXPORT-IMPORT BANK ACT OF 1945-

      (1) The first section of the Export-Import Bank Act of 1945 (12 U.S.C. 635 note) is amended to read as follows:

‘SECTION 1. SHORT TITLE.

    ‘This Act may be cited as the ‘United States Export Bank Act of 1945’.’.

      (2) The following provisions of such Act are amended by striking ‘Export-Import Bank of the United States’ and inserting ‘United States Export Bank’:

        (A) Section 2(a)(1) (12 U.S.C. 635(a)(1)).

        (B) Section 3(a) (12 U.S.C. 635a(a).

        (C) Section 3(b) (12 U.S.C. 635a(b)).

        (D) Section 3(c)(1) (12 U.S.C. 635a(c)(1)).

        (E) Section 4 (12 U.S.C. 635b).

        (F) Section 5 (12 U.S.C. 635d).

        (G) Section 6(a) (12 U.S.C. 635e(a)).

        (H) Section 7 (12 U.S.C. 635f).

        (I) Section 8(a) (12 U.S.C. 635g(a)).

        (J) Section 9 (12 U.S.C. 635h).

      (3) The following provisions of such Act are amended by striking ‘Export-Import Bank’ each place it appears and inserting ‘United States Export Bank’:

        (A) Section 2(b)(1)(A) (12 U.S.C. 635(b)(1)(A)).

        (B) Section 3(c)(3) (12 U.S.C. 635a(c)(3)).

    (b) DEEMING RULES- Any reference in any law, map, regulation, document, paper, or other record of the United States to the Export-Import Bank of the United States is deemed to be a reference to the United States Export Bank, and any reference in any law, map, regulation, document, paper, or other record of the United States to the Export-Import Bank Act of 1945 is deemed to be a reference to the United States Export Bank Act of 1945.

SEC. 12. PROHIBITION AGAINST ASSISTANCE TO RUSSIA IF RUSSIA TRANSFERS CERTAIN MISSILE SYSTEMS TO THE PEOPLE’S REPUBLIC OF CHINA.

    Section 2(b) of the Export-Import Bank Act of 1945 (12 U.S.C 635(b)) is amended by adding at the end the following:

    ‘(12) PROHIBITION AGAINST ASSISTANCE TO RUSSIA IF RUSSIA TRANSFERS CERTAIN MISSILE SYSTEMS TO THE PEOPLE’S REPUBLIC OF CHINA- If the President of the United States is made aware that Russia has transferred or delivered to the People’s Republic of China an SS-N-22 or SS-N-26 missile system, the President of the United States shall notify the Bank of the transfer or delivery. Upon receipt of the notification, the Bank shall not insure, guarantee, extend credit or participate in an extension of credit with respect to, or otherwise subsidize the export of any good or service to Russia.’.

SEC. 13. PROHIBITION AGAINST PROVISION OF ASSISTANCE FOR EXPORTS TO COMPANIES THAT EMPLOY CHILD LABOR.

    Section 2 of the Export-Import Bank Act of 1945 (12 U.S.C. 635) is amended by adding at the end the following:

    ‘(f) PROHIBITION AGAINST ASSISTANCE FOR EXPORTS TO COMPANIES THAT EMPLOY CHILD LABOR- The Bank shall not guarantee, insure, extend credit, or participate in the extension of credit with respect to the export of any good or service to an entity if the entity--

      ‘(1) employs children in a manner that would violate United States law regarding child labor if the entity were located in the United States; or

      ‘(2) has not made a binding commitment to not employ children in such manner.’.

Attest:

Clerk.