Summary: S.2600 — 97th Congress (1981-1982)All Information (Except Text)

There is one summary for S.2600. Bill summaries are authored by CRS.

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Introduced in Senate (05/27/1982)

Export-Import Bank Restructuring Act of 1982 - Amends the Export-Import Bank Act of 1945 to provide that the terms of the directors of the Bank will be four-years, except that two of the directors will be appointed initially for two years and then for four-years. (Current law provides that the directors serve at the pleasure of the President.)

Excludes from the Federal budget the receipts and disbursements of the Bank in the discharge of its functions (other than salaries and expenses). Exempts such receipts and disbursements from the limitations on the Federal budget. Directs the President to report to Congress annually on the Bank's budget for program activities and administrative expenses and on the Bank's net lending.

Establishes the Competitive Agricultural Commodity and Manufactured Product Export Subsidy Fund. Requires amounts appropriated to the Fund to be used to make interest subsidy payments to private lenders and to enter into arrangements with the Commodity Credit Corporation (CCC) to enable private lenders or the CCC to reduce the interest rates on loans for financing U.S. exports.

Requires the Board of Directors of the Fund to report to Congress on agreements to make interest subsidy payments. Authorizes appropriations for the Fund.

Extends the authorization for the Bank until September 30, 1988.