Text: H.R.3242 — 116th Congress (2019-2020)All Information (Except Text)

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Introduced in House (06/12/2019)


116th CONGRESS
1st Session
H. R. 3242


To amend the charter of the Export-Import Bank of the United States to create a new office within the Bank.


IN THE HOUSE OF REPRESENTATIVES

June 12, 2019

Ms. Velázquez (for herself and Mr. San Nicolas) introduced the following bill; which was referred to the Committee on Financial Services


A BILL

To amend the charter of the Export-Import Bank of the United States to create a new office within the Bank.

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 “Office of Territorial Exporting Act”.

SEC. 2. Creation of the Office of Territorial Exporting in the Export-Import Bank of the United States.

(a) In general.—Section 3 of the Export-Import Bank Act of 1945 (12 U.S.C. 635a) is amended by adding at the end the following:

“(n) Office of Territorial Exporting.—

“(1) ESTABLISHMENT.—There is established in the Bank the Office of Territorial Exporting (in this subsection referred to as the ‘Office’).

“(2) LOCATIONS.—The Office shall have an office in the headquarters of the Bank in Washington, DC, and in each territory.

“(3) STAFF.—The Bank shall hire such full-time staff as may be necessary to perform the functions of the Office.

“(4) FUNCTIONS.—The Office shall conduct outreach, education, and provide learning resources to facilitate the provision to export businesses in the territories of all forms of financial assistance offered by the Bank.

“(5) TERRITORY DEFINED.—In this Act, the term ‘territory’ means the Commonwealth of Puerto Rico, the United States Virgin Islands, Guam, the Commonwealth of the Northern Mariana Islands, and American Samoa.”.

(b) Annual report.—Section 8 of such Act (12 U.S.C. 635g) is amended by adding at the end the following:

“(l) Report on activities in the territories.—The Bank shall include in its annual report to Congress under subsection (a) a report on the steps taken by the Bank in the period covered by the report to increase—

“(1) the presence of the Bank in the territories; and

“(2) the provision of Bank assistance to export businesses in the territories.”.


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