H.R.5548 - Export-Import Bank Act Amendments of 198699th Congress (1985-1986)
|Sponsor:||Rep. Neal, Stephen L. [D-NC-5] (Introduced 09/18/1986)|
|Committees:||House - Banking, Finance, and Urban Affairs | Senate - Banking, Housing, and Urban Affairs|
|Committee Reports:||H.Rept 99-956|
|Latest Action:||10/15/1986 Became Public Law No: 99-472. (All Actions)|
This bill has the status Became Law
Here are the steps for Status of Legislation:
- Passed House
- Passed Senate
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- Became Law
Summary: H.R.5548 — 99th Congress (1985-1986)All Information (Except Text)
(Conference report filed in House, H. Rept. 99-956)
Conference report filed in House (10/02/1986)
Export-Import Bank Act Amendments of 1986 - Amends the Export-Import Bank Act of 1945 to authorize the Export-Import Bank (the Bank) to collect fees to cover the marginal costs of the Bank's conferences and publications.
Prohibits the Bank from imposing a credit application fee unless specified conditions relating to the competitiveness of the fee and the availability of repayment options are met.
Requires the Bank to establish the following measures to enhance the Bank's medium-term financing program; (1) improve the competitiveness of the Bank's medium-term financing; (2) ease the administrative, procedural, and documentary requirements imposed on users of medium-term financing; (3) attract the widest possible participation of private capital in the medium-term financing of U.S. exports; and (4) render the Bank's medium-term financing as supportive of U.S. exports as is its direct loan program. Requires the Bank to report to the Congress by April 15, 1988, on such measures.
Declares that the Bank's terms and conditions need not be identical in all respects to those offered by foreign countries.
Requires the Bank to provide medium-term risk protection coverage through multiple exporter organizations for the members and clients of such organizations.
Prohibits the denial of access to Bank financing, guarantee, and insurance programs solely because the entity seeking access is not a bank or is not a U.S. person.
Prohibits assistance under the Export-Import Bank Act of 1945 to Marxist-Leninist countries defined as countries which: (1) maintain a centrally-planned economy based on the principles of Marxism-Leninism; or (2) are dependent on the Soviet Union or any other Marxist-Leninist country. Sets forth a list of such countries. Provides for the waiver of such prohibition if the President determines that a country on such list has ceased to be a Marxist-Leninist country.
Prohibits the Bank from guaranteeing, insuring or extending credit in connection with exports (except food or agricultural exports) to Angola until the President certifies to the Congress that no combatants or military advisors from Cuba or any other Marxist-Leninist country remain in Angola.
Requires the bank to authorize the transferability of medium- and long-term obligations insured or guaranteed by the Bank without affecting, limiting, or terminating the guarantee or insurance provided by the Bank.
Prohibits the Bank from extending credit or guarantees for establishing or expanding production of any commodity for export by any country other than the United States, if: (1) there is likely to be a world surplus of such commodity by the time the resulting production capacity becomes operative or the resulting production capacity is expected to compete with U.S. production of the same, similar, or competing commodity; and (2) the assistance will cause substantial injury to U.S. producers of a competing commodity. Declares that such prohibition shall not apply if the short- and long-term benefits to U.S. industry and employment are likely to outweigh the injury to U.S. competitors.
Requires the Bank, in all cases involving potential adverse impact on domestic industries or employment, to consider and address in writing the view of parties who may be substantially adversely affected by the loan or guarantee before taking final action on such loan or guarantee.
Authorizes appropriations for FY 1987 to cover the net subsidy cost of new direct loans under the program limitations of FY 1987.
Extends the authority of such Act through FY 1992.
Amends the Export-Import Bank Act Amendments Act of 1978 to require the Secretary of the Treasury to authorize the Bank to provide guarantees, insurance, and credits to competing U.S. sellers, unless: (1) the availability of foreign official noncompetitive financing is not likely to be a significant factor in the sale, or (2) the foreign competitive financing has been withdrawn.
Requires the Bank and the Office of Management and Budget to report to the Congress and the General Accounting Office on: (1) the need for U.S. Government involvement in export credit insurance; (2) the need to employ an agent in administering government-supported insurance programs; and (3) the efficiency and effectiveness of continuing to use the Foreign Credit Insurance Association as the Bank's agent.
Amends the Export-Import Bank Act of 1945 to authorize any Bank director whose term has expired to serve an additional six months or until a successor has been qualified, whichever occurs earlier.
Requires the Bank to establish a tied aid credit program under which grants shall be made from the Tied Aid Credit Fund to supplement: (1) the financing of a U.S. export when there is a reasonable expectation that predacious financing will be provided by another country for a competitor of the U.S. exporter; (2) the financing of U.S. exports to foreign markets which are actual or potential export markets for any country which engages in predacious official export financing and impedes negotiations to eliminate the use of such credits for commercial purposes; or (3) the financing of U.S. exports under other appropriate circumstances.
Requires the Bank to administer such program in consultation with: (1) the Secretary of the Treasury; (2) appropriate private financial entities; and (3) the National Advisory Council on International Monetary and Financial Policies. Authorizes the Bank to combine grants from the Tied Aid Credit Fund with other forms of export financing, including financing from the Bank or private financial entities.
Authorizes the U.S. Trade Representative and the Secretary of Commerce to provide information to the appropriate officials on principal sectors and key markets of countries that engage in predacious export financing and impede negotiations to limit official export financing.
Establishes within the Bank the Tied Aid Credit Fund to be used in such tied aid credit program. Requires that any export financing involving the use of a grant under the tied aid credit program shall be consistent with the procedures established by the Arrangement on Guidelines for Officially Supported Export Credits. Authorizes appropriations for the Tied Aid Credit Fund for 1987 and 1988. Provides for recission of funds appropriated to the Tied Aid Credit Fund if the appropriations are not needed to achieve the purpose of the Fund.
Requires the Bank to report to the President and to the Congress every six months on tied aid credits. Sets forth information to be included in the report.
Authorizes the Bank to make interest subsidy payments to commercial lenders who make loans in support of U.S. exports when financing at less than market rates is required for such exports in order to respond to subsidized financing offered by foreign export credit agencies. Provides that the authority of the Bank to make such interest subsidy payments is effective only if the direct loan authority of the Bank meets a specified minimum amount. Limits the amount of such payments by the Bank to the amount appropriated to the Bank for such purposes. Authorizes appropriations for such purposes for FY 1986. Terminates the authority to make such interest subsidy payments on October 1, 1988.
Requires the Comptroller General to report to the Congress by March 1, 1988, on the Bank's use of its authority to make interest subsidy payments. Sets forth information to be included in such report.
Expresses the sense of the Congress that U.S. interests are best served when U.S. business transactions in Angola do not support Cuban troops and Soviet advisers. Requests the President to use special authorities under the International Emergency Economic Powers Act to restrict U.S. business transactions that conflict with U.S. security interests in Angola.
Directs the Secretary of the Treasury to instruct the U.S. Executive Directors of specified international development banks to oppose any assistance by such institutions for the production or extraction of any commodity or mineral for export if: (1) there is a world surplus of such commodity or mineral; and (2) the export of such commodity or mineral would cause substantial injury to competing U.S. producers.