H.R.15977 - An Act to amend the Export-Import Bank Act of 1945, and for other purposes.93rd Congress (1973-1974)
|Sponsor:||Rep. Ashley, Thomas L. [D-OH-9] (Introduced 07/18/1974)|
|Committees:||House - Banking|
|Committee Reports:||H.Rept 93-1261 Part 1; S.Rept 93-1335 Part 1; H.Rept 93-1439 Part 1; H.Rept 93-1582 Part 1; H.Rept 93-1633 Part 1|
|Latest Action:||01/04/1975 Public law 93-646.|
This bill has the status Became Law
Here are the steps for Status of Legislation:
- Passed House
- Passed Senate
- Resolving Differences
- To President
- Became Law
Summary: H.R.15977 — 93rd Congress (1973-1974)All Bill Information (Except Text)
Public Law (01/04/1975)
Export-Import Bank Amendments - Adds to the powers of the Export-Import Bank the power to guarantee, insure, coinsure, and reinsure against political and credit risks of loss.
Revises the Export-Import Bank to provide that the Bank may offer guarantees, insurance, and extensions of credit.
Directs the Bank, in cooperation with comparable institutions of foreign governments, to minimize competition in Government-sponsored export financing.
Directs the Bank to advise small businesses of opportunities offered by the Bank.
Requires that if the Bank, under the authority of the President, extends credit or guarantees to a communist country, the President shall separately determine for each transaction over $50,000,000 whether it serves the national interest.
Grants the Congress an opportunity to disapprove Bank transactions exceeding $60,000,000.
Allows 25 percent of the Bank's outstanding amounts to be guarantees and insurance against political and credit risks of loss. Changes the total allowable outstanding amount at any one time from $20,000,000,000 to $25,000,000,000.
Terminates the Bank's functions on June 30, 1978.
Describes the contents of reports the Bank must file with the Congress.
Prohibits the extension of any loan, guarantee, insurance or credit by the Export-Import Bank of the United States to the Union of Soviet Socialist Republics until such time as the Trade Reform Act becomes law.
Removes the exclusion of receipts and expenditures of the Export-Import Bank from the unified budget totals effective September 30, 1976.