Export-Import Bank Reauthorization Act of 2002

116 STAT. 698 PUBLIC LAW 107-189^TUNE 14, 2002
Public Law 107-189
107th Congress
June 14, 2002
[S. 1372]
Export-Import
Bank
Reauthorization
Act of 2002.
12 use 635 note. An Act
To reauthorize the Export-Import Bank of the United States.
Be it enacted by the Senate and House of Representatives of
the United Stat&s of America in Congress assembled,
SECTION 1. SHORT TITLE; TABLE OF CONTENTS.
(a) SHORT TITLE.—^This Act may be cited as the "Export-Import
Bank Reauthorization Act of 2002".
(b) TABLE OF CONTENTS.—The table of contents of this Act
is as follows:
Sec. 1. Short title; table of contents.
Sec. 2. Clarification that purposes include United States emplojonent.
Sec. 3. Extension of authority.
Sec. 4. Administrative expenses.
Sec. 5. Increase in aggregate loan, guarantee, and insurance authority.
Sec. 6. Activities relating to Africa.
Sec. 7. Small business.
Sec. 8. Technology.
Sec. 9. Tied Aid Credit Fund.
Sec. 10. Expansion of authority to use Tied Aid Credit Fund.
Sec. 11. Annual competitiveness report.
Sec. 12. Annual report.
Sec. 13. Renewable energy sources.
Sec. 14. GAO report on comparative reserve practices of export credit agencies and
private banks.
Sec. 15. Human rights.
Sec. 16. Authority to deny application for assistance based on fraud or corruption
by any party involved in the transaction.
Sec. 17. Consideration of foreign country helpfulness in efforts to eradicate ter­
rorism.
Sec. 18. Outstanding orders and preUminary injury determinations.
Sec. 19. Requirement that applicants for assistance disclose whether they have vio­
lated certain Acts; maintenance of list of violators.
Sec. 20. Sense of the Congress.
Sec. 21. Consideration of enforcement of certain laws.
Sec. 22. Inspector General of the Export-Import Bank.
Sec. 23. Sense of the Congress in tribute to John E. Robson.
Sec. 24. Correction of references and other technical corrections.
SEC. 2. CLARIFICATION THAT PURPOSES INCLUDE UNITED STATES
EMPLOYMENT.
Section 2(a)(1) of the Export-Import Bank Act of 1945 (12
U.S.C. 635(aXl)) is amended by striking the second sentence and
inserting the following: "The objects and purposes of the Bank
shall be to aid in financing and to facilitate exports of goods and
services, imports, and the exchange of commodities and services
between the United States or any of its territories or insular posses­
sions and any foreign country or the agencies or nationals of any
such country, and in so doing to contribute to the employment
of United States workers. The Bank's objective in authorizing loans,
guarantees, insurance, and credits shall be to contribute to
maintaining or increasing employment of United States workers.". PUBLIC LAW 107-189—JUNE 14, 2002 116 STAT. 699
SEC. 3. EXTENSION OF AUTHORITY.
Section 7 of the Export-Import Bank Act of 1945 (12 U.S.C.
635f) is amended by striking "2001" and inserting "2006".
SEC. 4. ADMINISTRATIVE EXPENSES.
(a) REQUIRED BUDGET SUBCATEGORIES.—Section 1105(a) of title
31, United States Code, is amended by adding at the end the
following:
"(34) with respect to the amount of appropriations
requested for use by the Export-Import Bank of the United
States, a separate statement of the amount requested for its
program budget, the amount requested for its administrative
expenses, and of the amount requested for its administrative
expenses, the amount requested for technology expenses.".
(b) SENSE OF THE CONGRESS ON THE IMPORTANCE OF TECH­
NOLOGY IMPROVEMENTS.—
(1) FINDINGS.—The Congress finds that—
(A) the Export-Import Bank of the United States is
in great need of technology improvements;
(B) part of the amount budgeted for administrative
expenses of the Bank is used for technology initiatives
and systems upgrades for computer hardware and software
purchases;
(C) the Bank is falling behind its foreign competitor
export credit agencies' proactive technology improvements;
(D) small businesses disproportionately benefit from
improvements in technology;
(E) small businesses need improvements in Bank tech­
nology in order to export transactions quickly, with as
little paperwork as possible, and with a quick Bank turn­
around time that does not over strain the tight resources
of such businesses;
(F) the Bank intends to develop a number of e-com-
merce initiatives aimed at improving customer service,
including web-based application and claim filing procedures
which would reduce processing time, speed payment of
claims, and increase staff efficiency;
(G) the Bank is beginning the process of moving insur­
ance applications from an outdated mainframe system to
a modem, web-enabled database, with new functionality
including credit scoring, portfolio management, work flow,
and e-commerce features to be added; and
(H) the Bank wants to continue its e-commerce
strategy, including developing a website, expanding online
applications, and establishing a technology partnership
between the public and private sectors.
(2) SENSE OF THE CONGRESS.—It is the sense of the Con­
gress that emphasis should be placed on the importance of
technology improvements for the Export-Import Bank of the
United States, which are of particular importance for small
businesses.
SEC. 5. INCREASE IN AGGREGATE LOAN, GUARANTEE, AND INSURANCE
AUTHORITY.
Section 6(a) of the Export-Import Bank Act of 1945 (12 U.S.C.
635e(a)) is amended to read as follows:
"(a) LIMITATION ON OUTSTANDING AMOUNTS.— 116 STAT. 700 PUBLIC LAW 107-189—JUNE 14, 2002
"(1) IN GENERAL.—The Export-Import Bank of the United
States shall not have outstanding at any one time loans,
guarantees, and insurance in an aggregate amount in excess
of the applicable amount.
"(2) APPLICABLE AMOUNT.—In paragraph (1), the term
'applicable amount' means—
"(A) during fiscal year 2002, $80,000,000,000;
"(B) during fiscal year 2003, $85,000,000,000;
"(C) during fiscal year 2004, $90,000,000,000;
"(D) during fiscal year 2005, $95,000,000,000; and
"(E) during fiscal year 2006, $100,000,000,000.
"(3) SUBJECT TO APPROPRIATIONS.—^All spending and credit
authority provided under this Act shall be effective for any
fiscal year only to such extent or in such amounts as are
provided in appropriation Acts.".
SEC. 6. ACTIVITIES RELATING TO AFRICA.
(a) EXTENSION OF ADVISORY COMMITTEE FOR SUB-SAHARAN
AFRICA.—Section 2(b)(9)(B)(iii) of the Export-Import Bank Act of
1945 (12 U.S.C. 635(b)(9)(B)(iii)) is amended to read as follows:
Termination "(iii) The advisory committee shall terminate on September
date. 30,2006.".
(b) COORDINATION OF AFRICA ACTIVITIES.—Section 2(b)(9)(A)
of the Export-Import Bank Act of 1945 (12 U.S.C. 635(b)(9)(A))
is amended by inserting ", in consultation with the Secretary of
Commerce and the Trade Promotion Coordinating Committee," after
"shall".
(c) CONTINUED REPORTS TO THE CONGRESS.—Section 7(b) of
the Export-Import Bank Reauthorization Act of 1997 (12 U.S.C.
635 note) is amended by striking "4" and inserting "8".
SEC. 7. SMALL BUSINESS.
(a) IN GENERAL.—Section 2(b)(lXE)(v) of the Export-Import
Bank Act of 1945 (12 U.S.C. 635(b)(l)(E)(v)) is amended by striking
"10" and inserting "20".
(b) OUTREACH TO CERTAIN SMALL BUSINESSES.—Section
2(b)(l)(E)(iii)(II) of such Act (12 U.S.C. 635(b)(l)(E)(iii)(II)) is
amended by inserting after "Bank" the following: ", with particular
emphasis on conducting outreach and increasing loans to socially
and economically disadvantaged small business concerns (as defined
in section 8(a)(4) of the Small Business Act), small business concerns
(as defined in section 3(a) of the Small Business Act) owned by
women, and small business concerns (as defined in section 3(a)
of the Small Business Act) employing fewer than 100 employees,".
SEC 8. TECHNOLOGY.
(a) SMALL BUSINESS.—Section 2(b)(1)(E) of the Export-Import
Bank Act of 1945 (12 U.S.C. 635(b)(1)(E)) is amended by adding
at the end the following:
Internet. "(x) The Bank shall implement technology improvements that
are designed to improve small business outreach, including allowing
customers to use the Internet to apply for the Bank's small business
programs.".
(b) ELECTRONIC TRACKING OF PENDING TRANSACTIONS.—Section
2(b)(1) of such Act (12 U.S.C. 635(b)(1)) is amended by adding
at the end the following:
"(J) The Bank shall implement an electronic system designed
to track all pending transactions of the Bank.". PUBLIC LAW 107-189-^UNE 14, 2002 116 STAT. 701
(c) REPORTS.—^The Export-Import Bank of the United States 12 use 635g
shall include in the annual report required by section 8(a) of the note.
Export-Import Bank Act of 1945 for each of fiscal years 2002
through 2006 a report on the efforts made by the Bank to carry
out subparagraphs (E)(x) and (J) of section 2(b)(1) of such Act,
and on how the efforts are assisting small businesses.
SEC. 9. TIED AID CREDIT FUND.
(a) PRINCIPLES, PROCESS, AND STANDARDS.—Section 10(b) of
the Export-Import Bank Act of 1945 (12 U.S.C. 635i-3(b)) is
amended—
(1) in paragraph (2), by striking subparagraph (A) and
inserting the following:
"(A) in consultation with the Secretary and in accord­
ance with the principles, process, and standards developed
pursuant to paragraph (5) of this subsection and the pur­
poses described in subsection (a)(5);"; and
(2) by adding at the end the following:
"(5) PRINCIPLES, PROCESS, AND STANDARDS GOVERNING USE
OF THE FUND.—
"(A) IN GENERAL.—^The Secretary and the Bank jointly
shall develop a pi-ocess for, and the principles and stand­
ards to be used in, determining how the amounts in the
Tied Aid Credit Fund could be used most effectively and
efficiently to carry out the purposes of subsection (a)(6).
"(B) CONTENT OF PRINCIPLES, PROCESS, AND STAND­
ARDS.—
"(i) CONSIDERATION OF CERTAIN PRINCIPLES AND
STANDARDS.—In developing the principles and stand­
ards referred to in subparagraph (A), the Secretary
and the Bank shall consider administering the Tied
Aid Credit Fund in accordance with the following prin­
ciples and standards:
"(I) The Tied Aid Credit Fund should be used
to leverage multilateral negotiations to restrict the
scope for aid-financed trade distortions through
new multilateral rules, and to police existing rules.
"(II) The Tied Aid Credit Fund will be used
to counter a foreign tied aid credit confronted by
a United States exporter when bidding for a capital
project.
"(Ill) Credible information about an offer of
foreign tied aid will be required before the Tied
Aid Credit Fund is used to offer specific terms
to match such an offer.
"(IV) The Tied Aid Credit Fund will be used
to enable a competitive United States exporter
to pursue further market opportunities on commer­
cial terms made possible by the use of the Fund.
"(V) Each use of the Tied Aid Credit Fund
will be in accordance with the Arrangement unless
a breach of the Arrangement has been committed
by a foreign export credit agency.
"(VI) The Tied Aid Credit Fund may only be
used to defend potential sales by United States
companies to a project that is enviroiimentally
sound. 116 STAT. 702 PUBLIC LAW 107-189-^UNE 14, 2002
Deadline.
Records.
Records.
12 use 635a
note. "(VII) The Tied Aid Credit Fund may be used
to preemptively counter potential foreign tied aid
offers without triggering foreign tied aid use.
"(ii) CONCLUSION.—Once the principles, process
and standards referred to in subparagraph (A) are
followed, the final case-by-case decisions on the use
of the Tied Aid Credit Fund shall be made by the
Bank: Provided however, That the Bank shall not
approve the extension of a proposed tied aid credit
if the President of the United States determines, after
consulting with the President of the Bank and the
Secretary of the Treasury, that the extension of the
tied aid credit would materially impede achieving the
purposes described in subsection (a)(6).
"(C) INITIAL PRINCIPLES, PROCESS, AND STANDARDS.—
As soon as is practicable but not later than 6 months
after the date of the enactment of this paragraph, the
Secretary and the Bank shall submit to the Committee
on Financial Services of the House of Representatives and
the Committee on Banking, Housing, and Urban Affairs
of the Senate a copy of the principles, process, and stand­
ards developed pursuant to subparagraph (A).
"(D) TRANSITIONAL PRINCIPLES AND STANDARDS.—^The
principles and standards set forth in subparagraph (B)(i)
shall govern the use of the Tied Aid Credit Fund until
the principles, process, and standards required by subpara­
graph (C) are submitted.
"(E) UPDATE AND REVISION.—The Secretary and the
Bank jointly should update and revise, as needed, the
principles, process, and standards developed pursuant to
subparagraph (A), and, on doing so, shall submit to the
Committee on Financial Services of the House of Represent­
atives and the Committee on Banking, Housing, and Urban
Affairs of the Senate a copy of the principles, process,
and standards so updated and revised.",
(b) RECONSIDERATION OF BOARD DECISIONS ON USE OF FUND.—
Section 10(b) of such Act (12 U.S.C. 635i-3(b)) is further amended
by adding at the end the following:
"(6) RECONSIDERATION OF DECISIONS.—
"(A) IN GENERAL.—^Taking into consideration the time
sensitivity of transactions, the Board of Directors of the
Bank shall expeditiously pursuant to paragraph (2)
reconsider a decision of the Board to deny an application
for the use of the Tied Aid Credit Fund if the applicant
submits the request for reconsideration within 3 months
of the denial.
"(B) PROCEDURAL RULES.—In any such reconsideration,
the applicant may be required to provide new information
on the application.".
SEC. 10. EXPANSION OF AUTHORITY TO USE TIED AID CREDIT FUND.
(a) UNTIED AID.—
(1) NEGOTIATIONS.—The Secretary of the Treasury shall
seek to negotiate an OECD Arrangement on Untied Aid. In
the negotiations, the Secretary should seek agreement on sub­
jecting untied aid to the rules governing the Arrangement,
including the rules governing disclosure. PUBLIC LAW 107-189—JUNE 14, 2002 116 STAT. 703
(2) REPORT TO THE CONGRESS.—^Within 1 year after the
date of the enactment of this Act, the Secretary of the Treasury
shall submit to the Committee on Financial Services of the
House of Representatives and the Committee on Banking,
Housing, and Urban Affairs of the Senate a report on the
successes, failures, and obstacles in initiating negotiations, and
if negotiations were initiated, in reaching the agreement
described in paragraph (1).
(b) MARKET WINDOWS.—
(1) IN GENERAL.—The Export-Import Bank Act of 1945
(12 U.S.C. 635 et seq.) is amended by adding at the end the
following new section:
"SEC. 15. MARKET WINDOWS.
"(a) ENHANCED TRANSPARENCY.—To ensure that the Bank
financing remains fully competitive, the United States should seek
enhanced transparency over the activities of market windows in
the OECD Export Credit Arrangement. If such transparency
indicates that market windows are disadvantaging United States
exporters, the United States should seek negotiations for multilat­
eral disciplines and transparency within the OECD Export Credit
Arrangement.
"(b) AUTHORIZATION.—^The Bank may provide financing on
terms and conditions that are inconsistent with those permitted
under the OECD Export Credit Arrangement—
"(1) to match financing terms and conditions that are being
offered by market windows on terms that are inconsistent with
those permitted under the OECD Export Credit Arrangement,
if—
"(A) matching such terms and conditions advances the
negotiations for multilateral disciplines and transparency
within the OECD Export Credit Arrangement; or
"(B) transparency verifies that the market window
financing is being offered on terms that are more favorable
than the terms and conditions that are available from
private financial markets; and
"(2) when the foreign government-supported institution
refuses to provide sufiicient transparency to permit the Bank
to make a determination under paragraph (1).
"(c) DEFINITION.—In this section, the term 'OECD' means the
Organization for Economic Cooperation and Development.".
(2) REPORT.—^Within 2 years after the date of the enactment
of this Act, the Secretary of the Treasury shall submit to
the Committee on Financial Services of the House of Represent­
atives and the Committee on Banking, Housing, and Urban
Affairs of the Senate a report on the rationale for seeking
or not seeking negotiations for multilateral disciplines and
transparency, the successes, failures, and obstacles in initiating
negotiations, and if negotiations were initiated, in reaching
an agreement.
(c) USE OF TIED AID CREDIT FUND TO COMBAT UNTIED AID.—
Section 10(a) of the Export-Import Bank Act of 1945 (12 U.S.C.
635i-3(a)) is amended—
(1) in paragraph (4), by striking "and" at the end;
(2) in paragraph (5), by inserting ", or untied aid used
to promote exports as if it were tied aid," before "for commer­
cial" the first and third places it appears; and Deadline.
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note. 116 STAT. 704 PUBLIC LAW 107-189-^UNE 14, 2002
Deadline.
Classified
information. (3) by redesignating paragraph (5) as paragraph (6) and
inserting after paragraph (4) the following:
"(5) the Bank has, at a minimum, the following two tasks—
"(A)(i) first, the Bank should match foreign export
credit agencies and aid agencies when they engage in tied
aid outside the confines of the Arrangement and when
they exploit loopholes, such as untied aid;
"(ii) such matching is needed to provide the United
States with leverage in efforts at the OECD to reduce
the overall level of export subsidies;
"(iii) only through matching foreign export credit offers
can the Bank buttress United States negotiators in their
efforts to bring these loopholes within the disciplines of
the Arrangement; and
"(iv) in order to bring untied aid within the discipline
of the Arrangement, the Bank should consider initiating
highly competitive financial support when the Bank learns
that foreign untied aid offers will be made; and
"(B) second, the Bank should support United States
exporters when the exporters face foreign competition that
is consistent with the Arrangement and the Subsidies Code
of the World Trade Organization, but which places United
States exporters at a competitive disadvantage; and".
(d) DEFINITION OF MARKET WINDOW.—Section 10(h) of such
Act (12 U.S.C. 635i-3(h)) is amended by adding at the end the
following:
"(7) MARKET WINDOW.—The Bank, in consultation with the
Secretary of the Treasury, shall define 'market window' for
purposes of this section.".
SEC. 11. ANNUAL COMPETITIVENESS REPORT.
Section 2(b)(1)(A) of the Export-Import Bank Act of 1945 (12
U.S.C. 635(b)(1)(A)) is amended—
(1) in the fourth sentence, by striking "on an annual basis"
and inserting "not later than June 30 of each year";
(2) in the fifth sentence, by inserting "(including through
use of market windows)" after "United States exporters";
(3) by inserting after the fifth sentence, the following new
sentence: "With respect to the preceding sentence, the Bank
shall use all available information to estimate the annual
amount of export financing available from each government
and government-related agency."; and
(4) by adding at the end the following new sentence: "The
Bank shall include in the annual report a description of all
Bank transactions which shall be classified according to their
principal purpose, such as to correct a market failure or to
provide matching support.".
SEC. 12. ANNUAL REPORT.
(a) TECHNOLOGY TO ASSIST SMALL BUSINESSES.—Section 8 of
the Export-Import Bank Act of 1945 (12 U.S.C. 635g) is amended
by adding at the end the following:
"(c) TECHNOLOGY TO ASSIST SMALL BUSINESSES.—The Bank
shall include in its annual report to the Congress under subsection
(a) of this section for each of fiscal years 2002 through 2006 a
report on the efforts made by the Bank to carry out subparagraphs
(E)(x) and (J) of section 2(b)(1) of this Act, and on how the efforts PUBLIC LAW 107-189—JUNE 14, 2002 116 STAT. 705
are assisting small business concerns (as defined in section 3(a)
of the Small Business Act).".
(b) NUMBER OF SMALL BUSINESS SUPPLIERS OF BANK USERS.—
Section 8 of such Act (12 U.S.C. 635g) is further amended by
adding at the end the following:
"(d) NUMBER OF SMALL BUSINESS SUPPLIERS OF BANK USERS.—
The Bank shall estimate on the basis of an annual survey or
tabulation the number of entities that are suppliers of users of
the Bank and that are small business concerns (as defined in
section 3(a) of the Small Business Act) located in the United States,
and shall include the estimate in its annual report to the Congress
under subsection (a) of this section.".
(c) OUTREACH TO CERTAIN SMALL BUSINESSES.—Section 8 of
such Act (12 U.S.C. 635g) is further amended by adding at the
end the following:
"(e) OUTREACH TO CERTAIN SMALL BUSINESSES.—The Bank;
shall include in its annual report to the Congress under subsection
(a) of this section a description of outreach efforts made by the
Bank to any socially and economically disadvantaged small business
concerns (as defined in section 8(a)(4) of the Small Business Act),
small business concerns (as defined in section 3(a) of the Small
Business Act) owned by women, and small business concerns (as
defined in section 3(a) of the Small Business Act) employing fewer
than 100 employees.".
SEC. 13. RENEWABLE ENERGY SOURCES.
(a) PROMOTION.—Section 2(b)(1) of the Export-Import Bank Act
of 1945 (12 U.S.C. 635(b)(1)) is further amended by adding at
the end the following:
"(K) The Bank shall promote the export of goods and services
related to renewable energy sources.".
(b) DESCRIPTION OF EFFORTS TO BE INCLUDED IN ANNUAL
COMPETITIVENESS REPORT.—Section 2(b)(1)(A) of such Act (12
U.S.C. 635(b)(1)(A)) is further amended by adding at the end the
following: "The Bank shall include in the annual report a description
of the efforts undertaken under subparagraph (K).".
SEC. 14. GAG REPORT ON COMPARATIVE RESERVE PRACTICES OF Deadline
EXPORT CREDIT AGENCIES AND PRIVATE BANKS. 12 USC 635 note
Within 1 year after the date of the enactment of this Act,
the Comptroller General of the United States shall submit to the
Committee on Financial Services of the House of Representatives
and the Committee on Banking, Housing, and Urban Affairs of
the Senate a report that examines the reserve ratios of the Export-
Import Bank of the United States as compared with the reserve
practices of private banks and foreign export credit agencies.
SEC. 15. HUMAN RIGHTS.
Section 2(b)(1)(B) of the Export-Import Bank Act of 1945 (12
U.S.C. 635(b)(1)(B)) is amended by inserting "(such as are provided
in the Universal Declaration of Human Rights adopted by the
United Nations General Assembly on December 10, 1948)" after
"human rights". 116 STAT. 706 PUBLIC LAW 107-189-^UNE 14, 2002
Loans.
Deadline.
Procedures.
Reports.
Procedures.
Notification. SEC. 16. AUTHORITY TO DENY APPLICATION FOR ASSISTANCE BASED
ON FRAUD OR CORRUPTION BY ANY PARTY INVOLVED IN
THE TRANSACTION.
Section 2 of the Export-Import Bank Act of 1945 (12 U.S.C.
635) is amended by adding at the end the following:
"(f) AUTHORITY TO DENY APPLICATION FOR ASSISTANCE BASED
ON FRAUD OR CORRUPTION BY PARTY INVOLVED IN THE TRANS­
ACTION.—In addition to any other authority of the Bank, the Bank
may deny an application for assistance with respect to a transaction
if the Bank has substantial credible evidence that any party to
the transaction or any party involved in the transaction has com­
mitted an act of fraud or corruption in connection with the trans­
action.".
SEC. 17. CONSIDERATION OF FOREIGN COUNTRY HELPFULNESS IN
EFFORTS TO ERADICATE TERRORISM.
Section 2(b)(1)(B) of the Export-Import Bank Act of 1945 (12
U.S.C. 635(b)(1)(B)) is amended in the penultimate sentence by
inserting "(including, when relevant, a foreign nation's lack of
cooperation in efforts to eradicate terrorism)" after "international
terrorism".
SEC. 18. OUTSTANDING ORDERS AND PRELIMINARY INJURY DETER­
MINATIONS.
Section 2(e) of the Export-Import Bank Act of 1945 (12 U.S.C.
635(e)) is amended—
(1) in paragraph (2), by striking "Paragraph (1)" and
inserting "Paragraphs (1) and (2)"; and
(2) by redesignating paragraphs (2) and (3) as paragraphs
(3) and (4) and by inserting after paragraph (1) the following:
"(2) OUTSTANDING ORDERS AND PRELIMINARY INJURY DETER­
MINATIONS.—
"(A) ORDERS.—The Bank shall not provide any loan
or guarantee to an entity for the resulting production of
substantially the same product that is the subject of—
"(i) a countervailing duty or antidumping order
under title VII of the Tariff Act of 1930; or
"(ii) a determination under title II of the Trade
Act of 1974.
"(B) AFFIRMATIVE DETERMINATION.—Within 60 days
after the date of the enactment of this paragraph, the
Bank shall establish procedures regarding loans or guaran­
tees provided to any entity that is subject to a preliminary
determination of a reasonable indication of material injury
to an industry under title VII of the Tariff Act of 1930.
The procedures shall help to ensure that these loans and
guarantees are likely to not result in a significant increase
in imports of substantially the same product covered by
the preliminary determination and are likely to not have
a significant adverse impact on the domestic industry. The
Bank shall report to the Committee on Financial Services
of the House of Representatives and the Committee on
Banking, Housing, and Urban Affairs of the Senate on
the implementation of these procedures.
"(C) COMMENT PERIOD.—The Bank shall establish
procedures under which the Bank shall notify interested
parties and provide a comment period with regard to loans PUBLIC LAW 107-189—JUNE 14, 2002 116 STAT. 707
or guarantees reviewed pursuant to subparagraph (B) or
(D).
"(D) CONSIDERATION OF INVESTIGATIONS UNDER TITLE
II OF THE TRADE ACT OF 1974.—In making any determination
under paragraph (1) for a transaction involving more than
$10,000,000, the Bank shall consider investigations under
title II of the Trade Act of 1974 that have been initiated
at the request of the President of the United States, the
United States Trade Representative, the Committee on
Finance of the Senate, or the Committee on Ways and
Means of the House of Representatives, or by the Inter­
national Trade Commission on its own motion.".
SEC. 19. REQUIREMENT THAT APPLICANTS FOR ASSISTANCE DIS- Records.
CLOSE WHETHER THEY HAVE VIOLATED CERTAIN ACTS;
MAINTENANCE OF LIST OF VIOLATORS.
Section 2(b)(1) of the Export-Import Bank Act of 1945 (12
U.S.C. 635(b)(1)) is further amended by adding at the end the
following:
"(L) The Bank shall require an applicant for assistance from
the Bank to disclose whether the applicant has been found by
a court of the United States to have violated the Foreign Corrupt
Practices Act of 1977, the Arms Export Control Act, the Inter­
national Emergency Economic Powers Act, or the Export Adminis­
tration Act of 1979 within the preceding 12 months, and shall
maintain, in cooperation with the Department of Justice, for not
less than 3 years a record of such applicants so found to have
violated any such Act.".
SEC. 20. SENSE OF THE CONGRESS.
It is the sense of the Congress that, when considering a proposal
for assistance for a project the cost of which is $10,000,000 or
more, the management of the Export-Import Bank of the United
States should have available for review a detailed assessment of
the potential human rights impact of the proposed project.
SEC. 21. CONSIDERATION OF ENFORCEMENT OF CERTAIN LAWS.
Section 2(b)(1)(B) of the Export-Import Bank Act of 1945 (12
U.S.C. 635(b)(1)(B)) is amended in the penultimate sentence by
inserting "the enforcement of the Foreign Corrupt Practices Act
of 1977, the Arms Export Control Act, the International Emergency
Economic Powers Act, or the Export Administration Act of 1979,"
after "nuclear proliferation,".
SEC. 22. INSPECTOR GENERAL OF THE EXPORT-IMPORT BANK
(a) ESTABLISHMENT OF POSITION.—Section 11 of the Inspector
General Act of 1978 (5 U.S.C. App.) is amended—
(1) in paragraph (1), by striking "or the Board of Directors
of the Tennessee Valley Authority;" and inserting "the Board
of Directors of the Tennessee Valley Authority; or the President
of the Export-Import Bank;"; and
(2) in paragraph (2), by striking "or the Tennessee Valley
Authority;" and inserting "the Tennessee Valley Authority, or
the Export-Import Bank,". 116 STAT. 708 PUBLIC LAW 107-189—JUNE 14, 2002
(b) EXECUTIVE LEVEL IV.—Section 5315 of title 5, United States
Code, is amended by inserting after the item relating to the
Inspector General of the Environmental Protection Agency the fol­
lowing:
"Inspector General, Export-Import Bank.".
(c) INITIAL IMPLEMENTATION.—Section 9(a)(2) of the Inspector
General Act of 1978 (5 U.S.C. App.) is amended by inserting "to
the Office of the Inspector General," after "(2)".
(d) TECHNICAL CORRECTIONS.—Section 11 of the Inspector Gen­
eral Act of 1978 (5 U.S.C. App.) is amended—
(1) in paragraph (1)-—
(A) by striking the second semicolon after "Community
Service";
(B) by striking "and" after "Financial Institutions
Fund;"; and
(C) by striking "and" after "Trust Corporation;";
(2) in paragraph (2), by striking "or" after "Community
Service,"; and
(3) in paragraph (5), by striking "section 552(e)" and
inserting "section 552(f)".
5 use 5315 note. (e) EFFECTIVE DATE.—The amendments made by this section
shall take effect on October 1, 2002.
SEC. 23. SENSE OF THE CONGRESS IN TRIBUTE TO JOHN E. ROBSON.
(a) FINDINGS.—^The Congress finds that—
(1) from his appointment in 2001 as President and Chair­
man of the Export-Import Bank of the United States until
his death on March 20, 2002, John E. Robson provided powerful
leadership for that institution, instilling his spirit of excellence
within the Bank and ensuring the Bank's role as a prominent
player in the trade and economic policy of the United States;
and
(2) during his time at the Export-Import Bank of the United
States, John E. Robson served as a role model for all of his
colleagues with his dedication to the institution, commitment
to excellence, resolute sense of integrity, and desire to leave
the Bank a better place than how he found it.
(b) SENSE OF THE CONGRESS.—The Congress is deeply saddened
by the death of John E. Robson, President and Chairman of the
Board of Directors of the Export-Import Bank of the United States,
and expresses to the family of John E. Robson its deep appreciation
for the contributions he made and the legacy he leaves behind,
and its heartfelt sorrow at his passing.
SEC. 24. CORRECTION OF REFERENCES AND OTHER TECHNICAL
CORRECTIONS.
(a) CORRECTION OF REFERENCES.—(1) Section 2(b)(1)(B) of the
Export-Import Bank Act of 1945 (12 U.S.C. 635(b)(1)(B)) is amended
by striking "Banking and".
(2) Each of the following provisions of such Act is amended
by striking "Banking, Finance and Urban Affairs" and inserting
"Financial Services":
(A) Section 2(bX6)(D)(i)(III) (12 U.S.C. 635(b)(6)(D)(i)(III)).
(B) Section 2(b)(6)(H) (12 U.S.C. 635(b)(6)(H)).
(C) Section 2(b)(6)(I)(i)(II) (12 U.S.C. 635(b)(6)(I)(iXII)).
(D) Section 2(b)(6)(I)(iii) (12 U.S.C. 635(b)(6)(I)(iii)).
(E) Section 10(g)(1) (12 U.S.C. 635i-3(g)(l)). PUBLIC LAW 107-189^JUNE 14, 2002 116 STAT. 709
(b) TECHNICAL CORRECTIONS.—-(1) Clauses (ii) and (iii) of section
2(b)(1)(H) of such Act (12 U.S.C. 635(b)(1)(H)) are each amended
by striking "4" and inserting "3".
(2) Section 2(b) of such Act (12 U.S.C. 635(b)) is amended
by aUgning the margins of paragraph (12) with the margins of
paragraph (11).
(3) Section 2(b)(6)(E) of such Act (12 U.S.C. 635(b)(6)(E)) is
amended by striking "international" and inserting "internationally".
(4) Section 3(d)(2) of such Act (12 U.S.C. 635a(d)(2)) is amended
by aligning the margins of subparagraph (B) with the margins
of subparagraph (A).
(5) Section 12(a)(1) of such Act (12 U.S.C. 635i-6(a)(l)) is
amended by striking "section" and inserting "subsection".
(6) Section 14(a) of such Act (12 U.S.C. 635i-8(a)) is amended
by striking "principle" and inserting "principal".
Approved June 14, 2002.
LEGISLATIVE HISTORY—S. 1372 (H.R. 2871):
HOUSE REPORTS: Nos. 107-292 accompanying H.R. 2871 (Comm. on Financial
Services) and 107-487 (Comm. of Conference).
SENATE REPORTS: No. 107-52 (Comm. on Banking, Housing, and Urban Affairs).
CONGRESSIONAL RECORD, Vol. 148 (2002):
Mar. 14, considered and passed Senate.
May 1, considered and passed House, amended, in lieu of H.R. 2871.
June 5, House agreed to conference report.
June 6, Senate agreed to conference report.
WEEKLY COMPILATION OF PRESIDENTIAL DOCUMENTS, Vol. 38 (2002):
June 14, Presidential statement.