[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[S. 1928 Introduced in Senate (IS)]
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118th CONGRESS
1st Session
S. 1928
To modify the prohibition on financing in the Export-Import Bank of the
United States, and for other purposes.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
June 12, 2023
Mr. Manchin (for himself and Mr. Risch) introduced the following bill;
which was read twice and referred to the Committee on Banking, Housing,
and Urban Affairs
_______________________________________________________________________
A BILL
To modify the prohibition on financing in the Export-Import Bank of the
United States, and for other purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Civil Nuclear Export Act of 2023''.
SEC. 2. MODIFICATION OF PROHIBITION ON FINANCING IN THE EXPORT-IMPORT
BANK OF THE UNITED STATES.
Section 2(b)(5) of the Export-Import Bank Act of 1945 (12 U.S.C.
635(b)(5)) is amended, in the first sentence, by inserting ``, except
any purchase that is otherwise permitted under an agreement made in
accordance with section 123 of the Atomic Energy Act of 1954 (42 U.S.C.
2153) or any other applicable law of the United States,'' after ``(C)
the purchase''.
SEC. 3. EXPANSION OF PROGRAM ON CHINA AND TRANSFORMATIONAL EXPORTS.
Section 2(l)(1)(B) of the Export-Import Bank Act of 1945 (12 U.S.C.
635(l)(1)(B)) is amended--
(1) by redesignating clause (xi) as clause (xii); and
(2) by inserting after clause (x) the following:
``(xi) Civil nuclear facilities, material,
and technologies, and related goods and
services that support the development of an
effective nuclear energy sector.''.
SEC. 4. NUCLEAR LIABILITY COVERAGE.
Section 2 of the Export-Import Bank Act of 1945 (12 U.S.C. 635) is
amended by adding at the end the following:
``(m) Nuclear Liability Coverage.--
``(1) In general.--If there is a claim or judgment against
the Bank relating to bodily injury, death, or damage to or loss
of real or personal property, the Secretary of the Treasury
shall, subject to paragraph (2), pay, from the general fund of
the Treasury such claim or judgment, and related costs, if--
``(A) such bodily injury, death, or damage to or
loss of real or personal property is determined in a
court of competent jurisdiction to have resulted from a
nuclear incident at a nuclear facility that received
financial support from the Bank; and
``(B) there is no applicable treaty or other
arrangement fully absolving the Bank of liability.
``(2) Maximum amount.--Any claim or judgment, and any
related costs paid in accordance with paragraph (1), to the
extent not otherwise absolved by any applicable treaty or other
arrangement, may not exceed the maximum amount of financial
protection per incident required to cover public liability
claims under section 170(b) of the Atomic Energy Act of 1954
(42 U.S.C. 2210(b)).
``(3) Presidential authority to authorize payments.--If the
aggregate amount of claims, judgments, and related costs
resulting from a single nuclear incident exceeds the maximum
amount under paragraph (2), the President--
``(A) may authorize, under such terms and
conditions as the President may direct, the payment of
such claims or judgments, and costs related to such
claims or judgments, from any contingency funds
available to the United States Government; and
``(B) if such funds are insufficient or
unavailable, shall certify such claims or judgments to
Congress for appropriation of the necessary funds.''.
SEC. 5. MODIFICATION OF LENDING CAP.
Section 6(a) of the Export-Import Bank Act of 1945 (12 U.S.C.
635e(a)) is amended--
(1) in paragraph (1), by striking ``applicable amount.''
and inserting ``applicable amount, unless the aggregate amount
that is in excess of the applicable amount--
``(A) is attributed by the Bank to loans,
guarantees, and insurance under the Program on China
and Transformational Exports pursuant to section 2(l);
and
``(B) does not exceed $50,000,000,000.'';
(2) in paragraph (3)--
(A) in the header, by striking ``2'' and inserting
``4''; and
(B) by striking ``2 percent'' each place it appears
and inserting ``4 percent''; and
(3) by adding at the end the following:
``(5) Authority to attribute loans, guarantees, and
insurance.--The Bank may attribute any loan, guarantee, or
insurance issued under the Program on China and
Transformational Exports pursuant to section 2(l) toward the
aggregate amount that is in excess of the applicable amount
described in paragraph (1) without regard to the date on which
the Bank issued such loan, guarantee, or insurance.''.
SEC. 6. MODIFICATION OF MONITORING OF DEFAULT RATES.
Section 8(g) of the Export-Import Bank Act of 1945 (12 U.S.C.
635g(g)) is amended--
(1) in paragraph (3), by striking ``2 percent'' each place
it appears and inserting ``4 percent'';
(2) in paragraph (4)(B), by striking ``2 percent'' and
inserting ``4 percent'';
(3) in paragraph (5)--
(A) in the header, by striking ``2'' and inserting
``4''; and
(B) by striking ``2 percent'' and inserting ``4
percent'';
(4) in paragraph (6), by striking ``2 percent'' and
inserting ``4 percent''; and
(5) by adding at the end the following:
``(7) Exclusion of transactions relating to the program on
china and transformational exports.--For the purposes of this
subsection, if financing provided under the Program on China
and Transformational Exports pursuant to section 2(l) results
in the default rate calculated under paragraph (1) equaling or
exceeding 4 percent, the Bank may exclude such financing,
subject to the approval of the Board of Directors.''.
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