| Home > 105th Congressional Public Laws > Pub.L. 105-122 To designate the United States courthouse at 200 South Washington Street in Alexandria, Virginia, as the ``Martin V. B. Bostetter, Jr. United States Courthouse''. <> ...
Pub.L. 105-122 To designate the United States courthouse at 200 South Washington Street in Alexandria, Virginia, as the ``Martin V. B. Bostetter, Jr. United States Courthouse''. <> ...
EXPORT-IMPORT BANK REAUTHORIZATION ACT OF 1997
[[Page 111 STAT. 2528]]
Public Law 105-121
To reauthorize the Export-Import Bank of the United States. <<NOTE: Nov.
26, 1997 - [S. 1026]>>
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE; TABLE OF CONTENTS.
(a) Short <<NOTE: 12 USC 635 note.>> Title.--This Act may be cited
as the ``Export-Import Bank Reauthorization Act of 1997''.
(b) Table of Contents.--
Sec. 1. Short title; table of contents.
Sec. 2. Extension of authority.
Sec. 3. Tied aid credit fund authority.
Sec. 4. Extension of authority to provide financing for the export of
nonlethal defense articles or services the primary end use of
which will be for civilian purposes.
Sec. 5. Clarification of procedures for denying credit based on the
Sec. 6. Administrative Counsel.
Sec. 7. Advisory Committee for sub-Saharan Africa.
Sec. 8. Increase in labor representation on the Advisory Committee of
the Export-Import Bank.
Sec. 9. Outreach to companies.
Sec. 10. Clarification of the objectives of the Export-Import Bank.
Sec. 11. Including child labor as a criterion for denying credit based
on the national interest.
Sec. 12. Prohibition relating to Russian transfers of certain missiles
to the People's Republic of China.
SEC. 2. EXTENSION OF AUTHORITY.
(a) In General.--Section 7 of the Export-Import Bank Act of 1945 (12
U.S.C. 635f) is amended by striking ``until'' and all that follows
through ``but'' and inserting ``until the close of business on September
30, 2001, but''.
(b) <<NOTE: 12 USC 635f note.>> Effective Date.--The amendment made
by this section shall take effect on September 30, 1997.
SEC. 3. TIED AID CREDIT FUND AUTHORITY.
(a) Expenditures From Fund.--Section 10(c)(2) of the Export-Import
Bank Act of 1945 (12 U.S.C. 635i-3(c)(2)) is amended by striking
``through'' and all that follows through ``1997''.
(b) Authorization.--Section 10(e) of such Act (12 U.S.C. 635i-3(e))
is amended by striking the first sentence and inserting the following:
``There are authorized to be appropriated to the Fund such sums as may
be necessary to carry out the purposes of this section.''.
[[Page 111 STAT. 2529]]
SEC. 4. EXTENSION OF AUTHORITY TO PROVIDE FINANCING FOR THE EXPORT
OF NONLETHAL DEFENSE ARTICLES OR SERVICES THE
PRIMARY END USE OF WHICH WILL BE FOR CIVILIAN
Section 1(c) of Public Law 103-428 (12 U.S.C. 635 note; 108 Stat.
4376) is amended by striking ``1997'' and inserting ``2001''.
SEC. 5. CLARIFICATION OF PROCEDURES FOR DENYING CREDIT BASED ON
THE NATIONAL INTEREST.
Section 2(b)(1)(B) of the Export-Import Bank Act of 1945 (12 U.S.C.
635(b)(1)(B)) is amended--
(1) in the last sentence, by inserting ``, after
consultation with the Committee on Banking and Financial
Services of the House of Representatives and the Committee on
Banking, Housing, and Urban Affairs of the Senate,'' after
(2) by adding at the end the following: ``Each such
determination shall be delivered in writing to the President of
the Bank, shall state that the determination is made pursuant to
this section, and shall specify the applications or categories
of applications for credit which should be denied by the Bank in
furtherance of the national interest.''.
SEC. 6. ADMINISTRATIVE COUNSEL.
Section 3(e) of the Export-Import Bank Act of 1945 (12 U.S.C.
635a(e)) is amended--
(1) by inserting ``(1)'' after ``(e)''; and
(2) by adding at the end the following:
``(2) The General Counsel of the Bank shall ensure that the
directors, officers, and employees of the Bank have available
appropriate legal counsel for advice on, and oversight of, issues
relating to personnel matters and other administrative law matters by
designating an attorney to serve as Assistant General Counsel for
Administration, whose duties, under the supervision of the General
Counsel, shall be concerned solely or primarily with such issues.''.
SEC. 7. ADVISORY COMMITTEE FOR SUB-SAHARAN AFRICA.
(a) In General.--Section 2(b) of the Export-Import Bank Act of 1945
(12 U.S.C. 635(b)) is amended by inserting after paragraph (8) the
``(9)(A) The Board of Directors of the Bank shall take prompt
measures, consistent with the credit standards otherwise required by
law, to promote the expansion of the Bank's financial commitments in
sub-Saharan Africa under the loan, guarantee, and insurance programs of
``(B)(i) The Board of Directors shall establish and use an advisory
committee to advise the Board of Directors on the development and
implementation of policies and programs designed to support the
expansion described in subparagraph (A).
``(ii) The advisory committee shall make recommendations to the
Board of Directors on how the Bank can facilitate greater support by
United States commercial banks for trade with sub-Saharan Africa.
``(iii) The advisory committee shall terminate 4 years after the
date of enactment of this subparagraph.''.
(b) Reports to Congress.--Within <<NOTE: 12 USC 635 note.>> 6
months after the date of enactment of this Act, and annually for each of
the 4 years thereafter, the Board of Directors of the Export-Import Bank
[[Page 111 STAT. 2530]]
the United States shall submit to Congress a report on the steps that
the Board has taken to implement section 2(b)(9)(B) of the Export-Import
Bank Act of 1945 and any recommendations of the advisory committee
established pursuant to such section.
SEC. 8. INCREASE IN LABOR REPRESENTATION ON THE ADVISORY COMMITTEE
OF THE EXPORT-IMPORT BANK.
Section 3(d)(2) of the Export-Import Bank Act of 1945 (12 U.S.C.
635a(d)(2)) is amended--
(1) by inserting ``(A)'' after ``(2)''; and
(2) by adding at the end the following:
``(B) Not less than 2 members appointed to the Advisory
Committee shall be representative of the labor community, except
that no 2 representatives of the labor community shall be
selected from the same labor union.''.
SEC. 9. OUTREACH TO COMPANIES.
Section 2(b)(1) of the Export-Import Bank Act of 1945 (12 U.S.C.
635(b)(1)) is amended by adding at the end the following:
``(I) The President of the Bank shall undertake efforts to enhance
the Bank's capacity to provide information about the Bank's programs to
small and rural companies which have not previously participated in the
Bank's programs. Not later than 1 year after the date of enactment of
this subparagraph, the President of the Bank shall submit to Congress a
report on the activities undertaken pursuant to this subparagraph.''.
SEC. 10. CLARIFICATION OF THE OBJECTIVES OF THE EXPORT-IMPORT
Section 2(b)(1)(A) of the Export-Import Bank Act of 1945 (12 U.S.C.
635(b)(1)(A)) is amended in the first sentence by striking ``real
income'' and all that follows to the end period and inserting: ``real
income, a commitment to reinvestment and job creation, and the increased
development of the productive resources of the United States''.
SEC. 11. INCLUDING CHILD LABOR AS A CRITERION FOR DENYING CREDIT
BASED ON THE NATIONAL INTEREST.
Section 2(b)(1)(B) of the Export-Import Bank Act of 1945 (12 U.S.C.
635(b)(1)(B)), as amended by section 5, is amended in the next to the
last sentence by inserting ``(including child labor)'' after ``human
SEC. 12. PROHIBITION RELATING TO RUSSIAN TRANSFERS OF CERTAIN
MISSILES TO THE PEOPLE'S REPUBLIC OF CHINA.
Section 2(b) of the Export-Import Bank Act of 1945 (12 U.S.C.
635(b)) is amended by adding at the end the following:
``(12) Prohibition relating to russian transfers of certain
missile systems.--If the President of the United States
determines that the military or Government of the Russian
Federation has transferred or delivered to the People's Republic
of China an SS-N-22 missile system and that the transfer or
delivery represents a significant and imminent threat to the
security of the United States, the President of the United
States shall notify the Bank of the transfer or delivery as soon
as practicable. Upon receipt of the notice and if so directed by
the President of the United States, the Board of Directors of
the Bank shall not give approval to guarantee, insure, extend
[[Page 111 STAT. 2531]]
credit, or participate in the extension of credit in connection
with the purchase of any good or service by the military or
Government of the Russian Federation.''.
Approved November 26, 1997.
LEGISLATIVE HISTORY--S. 1026 (H.R. 1370):
HOUSE REPORTS: Nos. 105-224 accompanying H.R. 1370 (Comm. on Banking and
Financial Services) and 105-392 (Comm. of Conference).
SENATE REPORTS: No. 105-76 (Comm. on Banking, Housing, and Urban
CONGRESSIONAL RECORD, Vol. 143 (1997):
Sept. 16, considered and passed Senate.
Oct. 6, considered and passed House, amended, in lieu of
Nov. 8, Senate agreed to conference report.
Nov. 9, House agreed to conference report.
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