Text: S.1026 — 105th Congress (1997-1998)All Information (Except Text)

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Public Law No: 105-121 (11/26/1997)

 
[105th Congress Public Law 121]
[From the U.S. Government Printing Office]


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[DOCID: f:publ121.105]


[[Page 2527]]

             EXPORT-IMPORT BANK REAUTHORIZATION ACT OF 1997

[[Page 111 STAT. 2528]]

Public Law 105-121
105th Congress

                                 An Act


 
To reauthorize the Export-Import Bank of the United States. <<NOTE: Nov. 
                        26, 1997 -  [S. 1026]>> 

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE; TABLE OF CONTENTS.

    (a) Short <<NOTE: 12 USC 635 note.>>  Title.--This Act may be cited 
as the ``Export-Import Bank Reauthorization Act of 1997''.

    (b) Table of Contents.--

Sec. 1. Short title; table of contents.
Sec. 2. Extension of authority.
Sec. 3. Tied aid credit fund authority.
Sec. 4. 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.
Sec. 5. Clarification of procedures for denying credit based on the 
           national interest.
Sec. 6. Administrative Counsel.
Sec. 7. Advisory Committee for sub-Saharan Africa.
Sec. 8. Increase in labor representation on the Advisory Committee of 
           the Export-Import Bank.
Sec. 9. Outreach to companies.
Sec. 10. Clarification of the objectives of the Export-Import Bank.
Sec. 11. Including child labor as a criterion for denying credit based 
           on the national interest.
Sec. 12. Prohibition relating to Russian transfers of certain missiles 
           to the People's Republic of China.

SEC. 2. EXTENSION OF AUTHORITY.

    (a) In General.--Section 7 of the Export-Import Bank Act of 1945 (12 
U.S.C. 635f) is amended by striking ``until'' and all that follows 
through ``but'' and inserting ``until the close of business on September 
30, 2001, but''.
    (b) <<NOTE: 12 USC 635f note.>>  Effective Date.--The amendment made 
by this section shall take effect on September 30, 1997.

SEC. 3. TIED AID CREDIT FUND AUTHORITY.

    (a) Expenditures From Fund.--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'' and all that follows through ``1997''.
    (b) Authorization.--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.''.

[[Page 111 STAT. 2529]]

SEC. 4. 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. 5. 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. 6. 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 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. 7. 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 enactment of this subparagraph.''.
    (b) Reports to Congress.--Within <<NOTE: 12 USC 635 note.>>  6 
months after the date of enactment of this Act, and annually for each of 
the 4 years thereafter, the Board of Directors of the Export-Import Bank 
of

[[Page 111 STAT. 2530]]

the United States shall submit to 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. 8. 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 at the end the following:
            ``(B) Not less than 2 members appointed to the Advisory 
        Committee shall be representative of the labor community, except 
        that no 2 representatives of the labor community shall be 
        selected from the same labor union.''.

SEC. 9. 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 President of the Bank shall undertake efforts to enhance 
the Bank's capacity to provide information about the Bank's programs to 
small and rural companies which have not previously participated in the 
Bank's programs. Not later than 1 year after the date of enactment of 
this subparagraph, the President of the Bank shall submit to Congress a 
report on the activities undertaken pursuant to this subparagraph.''.
SEC. 10. CLARIFICATION OF THE OBJECTIVES OF THE EXPORT-IMPORT 
                    BANK.

    Section 2(b)(1)(A) of the Export-Import Bank Act of 1945 (12 U.S.C. 
635(b)(1)(A)) is amended in the first sentence by striking ``real 
income'' and all that follows to the end period and inserting: ``real 
income, a commitment to reinvestment and job creation, and the increased 
development of the productive resources of the United States''.
SEC. 11. INCLUDING CHILD LABOR AS A CRITERION 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)), as amended by section 5, is amended in the next to the 
last sentence by inserting ``(including child labor)'' after ``human 
rights''.
SEC. 12. PROHIBITION RELATING TO RUSSIAN TRANSFERS OF CERTAIN 
                    MISSILES 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 relating to russian transfers of certain 
        missile systems.--If the President of the United States 
        determines that the military or Government of the Russian 
        Federation has transferred or delivered to the People's Republic 
        of China an SS-N-22 missile system and that the transfer or 
        delivery represents a significant and imminent threat to the 
        security of the United States, the President of the United 
        States shall notify the Bank of the transfer or delivery as soon 
        as practicable. Upon receipt of the notice and if so directed by 
        the President of the United States, the Board of Directors of 
        the Bank shall not give approval to guarantee, insure, extend

[[Page 111 STAT. 2531]]

        credit, or participate in the extension of credit in connection 
        with the purchase of any good or service by the military or 
        Government of the Russian Federation.''.

    Approved November 26, 1997.

LEGISLATIVE HISTORY--S. 1026 (H.R. 1370):
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HOUSE REPORTS: Nos. 105-224 accompanying H.R. 1370 (Comm. on Banking and 
Financial Services) and 105-392 (Comm. of Conference).
SENATE REPORTS: No. 105-76 (Comm. on Banking, Housing, and Urban 
Affairs).
CONGRESSIONAL RECORD, Vol. 143 (1997):
            Sept. 16, considered and passed Senate.
            Oct. 6, considered and passed House, amended, in lieu of 
                H.R. 1370.
            Nov. 8, Senate agreed to conference report.
            Nov. 9, House agreed to conference report.

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