Export-Import Bank Reauthorization Act of 2019

II 116TH CONGRESS 1ST SESSION S. 2293 To extend the authority of the Export-Import Bank of the United States and to modify the quorum requirement of the Bank, and for other purposes. IN THE SENATE OF THE UNITED STATES JULY 25, 2019 Mr. CRAMER (for himself, Ms. SINEMA, Mr. TILLIS, Ms. CANTWELL, Mr. BLUNT, Mr. GRAHAM, Ms. COLLINS, Mr. COONS, Ms. HASSAN, and Mrs. MURRAY) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs A BILL To extend the authority of the Export-Import Bank of the United States and to modify the quorum requirement of the Bank, and for other purposes. Be it enacted by the Senate and House of Representa- 1 tives of the United States of America in Congress assembled, 2 SECTION 1. SHORT TITLE. 3 This Act may be cited as the ‘‘Export-Import Bank 4 Reauthorization Act of 2019’’. 5 VerDate Sep 11 2014 23:41 Jul 27, 2019 Jkt 089200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\S2293.IS S2293 kjohnson on DSK79L0C42 with BILLS 2 •S 2293 IS SEC. 2. EXTENSION OF AUTHORITY OF EXPORT-IMPORT 1 BANK OF THE UNITED STATES. 2 (a) IN GENERAL.—Section 7 of the Export-Import 3 Bank Act of 1945 (12 U.S.C. 635f) is amended by strik- 4 ing ‘‘2019’’ and inserting ‘‘2029’’. 5 (b) AUTHORITY RELATING TO INFORMATION TECH- 6 NOLOGY SYSTEMS.—Section 3(j) of the Export-Import 7 Bank Act of 1945 (12 U.S.C. 635a(j)) is amended— 8 (1) in paragraph (1), in the matter preceding 9 subparagraph (A), by striking ‘‘fiscal years’’ and all 10 that follows through ‘‘to—’’ and inserting ‘‘fiscal 11 years 2019 through 2029 to—’’; and 12 (2) in paragraph (3), by striking ‘‘fiscal years’’ 13 and all that follows through ‘‘shall not’’ and insert- 14 ing ‘‘fiscal years 2019 through 2029 shall not’’. 15 (c) ANNUAL REPORTS ON PROGRESS OF NEGOTIA- 16 TIONS TO END EXPORT CREDIT FINANCING.—Section 17 11(e) of the Export-Import Bank Reauthorization Act of 18 2012 (12 U.S.C. 635a–5(e)) is amended by striking 19 ‘‘2019’’ and inserting ‘‘2029’’. 20 (d) PILOT PROGRAM FOR REINSURANCE.—Section 21 51008 of the Export-Import Bank Reform and Reauthor- 22 ization Act of 2015 (Public Law 114–94; 12 U.S.C. 635 23 note) is amended by striking ‘‘2019’’ each place it appears 24 and inserting ‘‘2029’’. 25 VerDate Sep 11 2014 23:41 Jul 27, 2019 Jkt 089200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6201 E:\BILLS\S2293.IS S2293 kjohnson on DSK79L0C42 with BILLS 3 •S 2293 IS SEC. 3. AGGREGATE LOAN, GUARANTEE, AND INSURANCE 1 AUTHORITY. 2 Section 6(a)(2) of the Export-Import Bank Act of 3 1945 (12 U.S.C. 635e(a)(2)) is amended to read as fol- 4 lows: 5 ‘‘(2) APPLICABLE AMOUNT DEFINED.—In this 6 subsection, the term ‘applicable amount’ means— 7 ‘‘(A) $145,000,000,000 for fiscal year 8 2020; 9 ‘‘(B) $150,000,000,000 for fiscal year 10 2021; 11 ‘‘(C) $155,000,000,000 for fiscal year 12 2022; 13 ‘‘(D) $160,000,000,000 for fiscal year 14 2023; 15 ‘‘(E) $165,000,000,000 for fiscal year 16 2024; 17 ‘‘(F) $170,000,000,000 for fiscal year 18 2025; and 19 ‘‘(G) $175,000,000,000 for each of fiscal 20 years 2026 through 2029.’’. 21 SEC. 4. TEMPORARY BOARD OF DIRECTORS FOR THE EX- 22 PORT-IMPORT BANK OF THE UNITED STATES. 23 Section 3(c)(6) of the Export-Import Bank Act of 24 1945 (12 U.S.C. 635a(c)(6)) is amended— 25 (1) by inserting ‘‘(A)’’ after ‘‘(6)’’; and 26 VerDate Sep 11 2014 23:41 Jul 27, 2019 Jkt 089200 PO 00000 Frm 00003 Fmt 6652 Sfmt 6201 E:\BILLS\S2293.IS S2293 kjohnson on DSK79L0C42 with BILLS 4 •S 2293 IS (2) by adding at the end the following: 1 ‘‘(B)(i) If there is an insufficient number of directors 2 to constitute a quorum under subparagraph (A) for 90 3 consecutive days during the term of a President of the 4 United States, a temporary Board, consisting of the fol- 5 lowing members, shall act in the stead of the Board of 6 Directors until a quorum of the Board of Directors can 7 be constituted: 8 ‘‘(I) The United States Trade Representative. 9 ‘‘(II) The Secretary of the Treasury. 10 ‘‘(III) The Secretary of Commerce. 11 ‘‘(IV) The members of the Board of Directors. 12 ‘‘(ii) The chairperson of the temporary Board shall 13 be— 14 ‘‘(I) a member of the Board of Directors de- 15 scribed in clause (i)(IV), consistent with the bylaws 16 of the Bank; or 17 ‘‘(II) if there are no such members of the 18 Board of Directors, the United States Trade Rep- 19 resentative. 20 ‘‘(iii) If the temporary Board consists of members of 21 only one political party, the President of the United States 22 shall, to the extent practicable, appoint to the temporary 23 Board a qualified member of another political party who 24 VerDate Sep 11 2014 23:41 Jul 27, 2019 Jkt 089200 PO 00000 Frm 00004 Fmt 6652 Sfmt 6201 E:\BILLS\S2293.IS S2293 kjohnson on DSK79L0C42 with BILLS 5 •S 2293 IS occupies a position requiring appointment by the Presi- 1 dent by and with the advice and consent of the Senate. 2 ‘‘(iv) A member of the temporary Board specified in 3 subclause (I), (II), or (III) of clause (i) may delegate the 4 authority of the member to vote on whether to approve 5 or amend a transaction in an amount of less than 6 $100,000,000, to— 7 ‘‘(I) if the member is the United States Trade 8 Representative, the Deputy United States Trade 9 Representative; or 10 ‘‘(II) if the member is specified in subclause 11 (II) or (III) of that clause, the Deputy Secretary of 12 the department specified in that subclause. 13 ‘‘(v) The temporary Board may approve or amend 14 transactions in an amount that exceeds $25,000,000 only 15 by a vote of the temporary Board. 16 ‘‘(vi) The temporary Board may not change or amend 17 the policies, procedures, bylaws, or guidelines of the Bank. 18 ‘‘(vii) The chairperson of the temporary Board shall 19 ensure that the Bank complies with section 2(b)(3) with 20 respect to transactions in an amount that equals or ex- 21 ceeds $100,000,000. 22 ‘‘(viii) The temporary Board shall terminate on the 23 date that is the earlier of— 24 VerDate Sep 11 2014 23:41 Jul 27, 2019 Jkt 089200 PO 00000 Frm 00005 Fmt 6652 Sfmt 6201 E:\BILLS\S2293.IS S2293 kjohnson on DSK79L0C42 with BILLS 6 •S 2293 IS ‘‘(I) the last day of the term of the President 1 of the United States in office as of the date on 2 which the temporary Board is constituted; or 3 ‘‘(II) the date on which there is a sufficient 4 number of directors on the Board of Directors to 5 constitute a quorum under subparagraph (A). 6 ‘‘(ix) This subparagraph shall have no force or effect 7 after September 30, 2029.’’. 8 Æ VerDate Sep 11 2014 23:41 Jul 27, 2019 Jkt 089200 PO 00000 Frm 00006 Fmt 6652 Sfmt 6301 E:\BILLS\S2293.IS S2293 kjohnson on DSK79L0C42 with BILLS