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The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.
5/7/2012--Introduced. Export-Import Bank Reauthorization Act of 2012 - Amends the Export-Import Bank Act of 1945 to extend the termination of functions date for the Export-Import Bank of the United States to September 30, 2021.
Eliminates the provision directing the Bank to urge the Foreign Credit Insurance Association to provide 100% coverage against any export loss valued at less than $100,000.
Revises the list of Marxist-Leninist countries ineligible for Bank assistance.
Extends through September 30, 2021: (1) the termination date of the Sub-Saharan Africa advisory committee, and (2) Bank authority to provide financing for the export of nonlethal defense articles and defense services whose primary end use is for civilian purposes.
Extends and specifies aggregate outstanding loan, guarantee, and insurance authority through FY2021.
Provides for textile industry representation on the Bank Advisory Committee.
Requires the Bank to: (1) review its domestic content policy for medium- and long-term transactions; (2) include in its annual report to Congress, at least every every four years beginning in 2012, a five-year strategic plan; and (3) review and report to Congress regarding the Bank's information technology infrastructure.
Directs the Comptroller General (GAO) to: (1) report to the Bank and to Congress on the Bank's financial position and the risk it poses to U.S. taxpayers, and (2) issue an annual report on the Bank's international competitiveness and its impact on U.S. employment.
Urges the Bank to increase the export of renewable energy technologies and end-use energy efficiency technologies.
Provides for increased Bank transparency and accountability.
Prohibits Bank financing for persons that engage in certain sanctionable activities with respect to Iran.