S.3938 - Export-Import Bank Reauthorization Act of 2006109th Congress (2005-2006)
|Sponsor:||Sen. Crapo, Mike [R-ID] (Introduced 09/26/2006)|
|Committees:||Senate - Banking, Housing, and Urban Affairs|
|Latest Action:||12/20/2006 Became Public Law No: 109-438. (TXT | PDF) (All Actions)|
This bill has the status Became Law
Here are the steps for Status of Legislation:
- Passed Senate
- Passed House
- Resolving Differences
- To President
- Became Law
Summary: S.3938 — 109th Congress (2005-2006)All Bill Information (Except Text)
Passed Senate amended (09/30/2006)
Export-Import Bank Reauthorization Act of 2006 - (Sec. 2) Amends the Export-Import Bank Act of 1945 to reauthorize the Export-Import Bank of the United States and extend the Sub-Saharan Africa Advisory Committee through FY2011.
(Sec. 4) Extends through FY2011 the authority of the Bank to provide financing for the export of nonlethal articles or services meant primarily for civilian purposes.
(Sec. 5) Requires the Bank to submit a list to the Senate Committee on Banking, Housing, and Urban Affairs and the House Committee on Financial Services of sensitive commercial sectors and products for which financing by the Bank is deemed unlikely due to a potentially adverse effect on the U. S. economy.
(Sec. 6) Establishes a Small Business Division in the Bank to: (1) carry out functions related to outreach, feedback, product improvement, and transaction advocacy for small business concerns; (2) advise and seek feedback from small business concerns on financing products offered by the Bank; (3) maintain liaison with the Small Business Administration; and (4) provide oversight of technology improvements relating to small business concerns. Requires the President of the Bank to appoint an executive officer to manage the Division and to ensure that each operating division in the Bank has staff that specializes in transactions benefiting small business concerns.
Establishes within the Bank a management committee to be known as the Small Business Committee to coordinate the Bank's initiatives and policies, and develop and coordinate new or enhanced Bank products and services, for small business concerns.
Requires the Bank to: (1) seek to expand credit and loan guarantees with respect to medium term transactions for small business concerns; and (2) make available lines of credit and guarantees to carry out such transactions.
(Sec. 7) Requires the Bank, in making a loan or guarantee, to determine whether: (1) a loan applicant will produce products in addition to products specified in the loan application and whether such additional products may cause substantial injury to competing U.S. producers; and (2) a loan or guarantee will facilitate circumvention of a trade law order or determination.
(Sec. 8) Requires the Bank to: (1) publish a notice in the Federal Register of its intent to conduct a detailed economic impact analysis of a proposed loan or guarantee that may have an adverse effect on industries and employment in the United States; (2) seek comments from specified federal agencies and congressional committees on the economic effects of such loan or guarantee; and (3) provide its Board of Directors with a written statement of the views of any adversely-affected person who submitted comments on the proposed loan or guarantee.
Requires a revised notice of intent if a material change is made to the amounts in an application for a loan or guarantee (i.e., a change of at least 25% of the loan or guarantee amount or a change in the principal product produced).
(Sec. 9) Extends through FY2011 the aggregate loan, guarantee, and insurance authority of the Bank.
(Sec. 10) Revises the process for handling individual applications involving the use or potential use of the Tied Aid Credit Fund, including by requiring case-by-case decisions by the Bank's Board of Directors on whether to approve the use of the Tied Aid Credit Fund and allowing for a veto of decisions by the President of the United States.
(Sec. 11) Prohibits the Bank from granting credit in connection with the export of any good or service relating to the development or promotion of any railway connection that does not traverse or connect with Armenia and does not traverse or connect Baku, Azerbaijan, Tbilisi, Georgia, and Kars, Turkey.