Civil Nuclear Export Act of 2023

II 118TH CONGRESS 1ST SESSION S. 1928 To modify the prohibition on financing in the Export-Import Bank of the United States, and for other purposes. IN THE SENATE OF THE UNITED STATES JUNE 12, 2023 Mr. MANCHIN (for himself and Mr. RISCH) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs A BILL To modify the prohibition on financing in the Export-Import Bank of the United States, 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 ‘‘Civil Nuclear Export 4 Act of 2023’’. 5 SEC. 2. MODIFICATION OF PROHIBITION ON FINANCING IN 6 THE EXPORT-IMPORT BANK OF THE UNITED 7 STATES. 8 Section 2(b)(5) of the Export-Import Bank Act of 9 1945 (12 U.S.C. 635(b)(5)) is amended, in the first sen- 10 VerDate Sep 11 2014 23:46 Jul 01, 2023 Jkt 039200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\S1928.IS S1928 kjohnson on DSK79L0C42PROD with BILLS 2 •S 1928 IS tence, by inserting ‘‘, except any purchase that is other- 1 wise permitted under an agreement made in accordance 2 with section 123 of the Atomic Energy Act of 1954 (42 3 U.S.C. 2153) or any other applicable law of the United 4 States,’’ after ‘‘(C) the purchase’’. 5 SEC. 3. EXPANSION OF PROGRAM ON CHINA AND TRANS- 6 FORMATIONAL EXPORTS. 7 Section 2(l)(1)(B) of the Export-Import Bank Act of 8 1945 (12 U.S.C. 635(l)(1)(B)) is amended— 9 (1) by redesignating clause (xi) as clause (xii); 10 and 11 (2) by inserting after clause (x) the following: 12 ‘‘(xi) Civil nuclear facilities, material, 13 and technologies, and related goods and 14 services that support the development of 15 an effective nuclear energy sector.’’. 16 SEC. 4. NUCLEAR LIABILITY COVERAGE. 17 Section 2 of the Export-Import Bank Act of 1945 18 (12 U.S.C. 635) is amended by adding at the end the fol- 19 lowing: 20 ‘‘(m) NUCLEAR LIABILITY COVERAGE.— 21 ‘‘(1) IN GENERAL.—If there is a claim or judg- 22 ment against the Bank relating to bodily injury, 23 death, or damage to or loss of real or personal prop- 24 erty, the Secretary of the Treasury shall, subject to 25 VerDate Sep 11 2014 23:46 Jul 01, 2023 Jkt 039200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6201 E:\BILLS\S1928.IS S1928 kjohnson on DSK79L0C42PROD with BILLS 3 •S 1928 IS paragraph (2), pay, from the general fund of the 1 Treasury such claim or judgment, and related costs, 2 if— 3 ‘‘(A) such bodily injury, death, or damage 4 to or loss of real or personal property is deter- 5 mined in a court of competent jurisdiction to 6 have resulted from a nuclear incident at a nu- 7 clear facility that received financial support 8 from the Bank; and 9 ‘‘(B) there is no applicable treaty or other 10 arrangement fully absolving the Bank of liabil- 11 ity. 12 ‘‘(2) MAXIMUM AMOUNT.—Any claim or judg- 13 ment, and any related costs paid in accordance with 14 paragraph (1), to the extent not otherwise absolved 15 by any applicable treaty or other arrangement, may 16 not exceed the maximum amount of financial protec- 17 tion per incident required to cover public liability 18 claims under section 170(b) of the Atomic Energy 19 Act of 1954 (42 U.S.C. 2210(b)). 20 ‘‘(3) PRESIDENTIAL AUTHORITY TO AUTHORIZE 21 PAYMENTS.—If the aggregate amount of claims, 22 judgments, and related costs resulting from a single 23 nuclear incident exceeds the maximum amount 24 under paragraph (2), the President— 25 VerDate Sep 11 2014 23:46 Jul 01, 2023 Jkt 039200 PO 00000 Frm 00003 Fmt 6652 Sfmt 6201 E:\BILLS\S1928.IS S1928 kjohnson on DSK79L0C42PROD with BILLS 4 •S 1928 IS ‘‘(A) may authorize, under such terms and 1 conditions as the President may direct, the pay- 2 ment of such claims or judgments, and costs re- 3 lated to such claims or judgments, from any 4 contingency funds available to the United 5 States Government; and 6 ‘‘(B) if such funds are insufficient or un- 7 available, shall certify such claims or judgments 8 to Congress for appropriation of the necessary 9 funds.’’. 10 SEC. 5. MODIFICATION OF LENDING CAP. 11 Section 6(a) of the Export-Import Bank Act of 1945 12 (12 U.S.C. 635e(a)) is amended— 13 (1) in paragraph (1), by striking ‘‘applicable 14 amount.’’ and inserting ‘‘applicable amount, unless 15 the aggregate amount that is in excess of the appli- 16 cable amount— 17 ‘‘(A) is attributed by the Bank to loans, 18 guarantees, and insurance under the Program 19 on China and Transformational Exports pursu- 20 ant to section 2(l); and 21 ‘‘(B) does not exceed $50,000,000,000.’’; 22 (2) in paragraph (3)— 23 (A) in the header, by striking ‘‘2’’ and in- 24 serting ‘‘4’’; and 25 VerDate Sep 11 2014 23:46 Jul 01, 2023 Jkt 039200 PO 00000 Frm 00004 Fmt 6652 Sfmt 6201 E:\BILLS\S1928.IS S1928 kjohnson on DSK79L0C42PROD with BILLS 5 •S 1928 IS (B) by striking ‘‘2 percent’’ each place it 1 appears and inserting ‘‘4 percent’’; and 2 (3) by adding at the end the following: 3 ‘‘(5) AUTHORITY TO ATTRIBUTE LOANS, GUAR- 4 ANTEES, AND INSURANCE.—The Bank may attribute 5 any loan, guarantee, or insurance issued under the 6 Program on China and Transformational Exports 7 pursuant to section 2(l) toward the aggregate 8 amount that is in excess of the applicable amount 9 described in paragraph (1) without regard to the 10 date on which the Bank issued such loan, guarantee, 11 or insurance.’’. 12 SEC. 6. MODIFICATION OF MONITORING OF DEFAULT 13 RATES. 14 Section 8(g) of the Export-Import Bank Act of 1945 15 (12 U.S.C. 635g(g)) is amended— 16 (1) in paragraph (3), by striking ‘‘2 percent’’ 17 each place it appears and inserting ‘‘4 percent’’; 18 (2) in paragraph (4)(B), by striking ‘‘2 per- 19 cent’’ and inserting ‘‘4 percent’’; 20 (3) in paragraph (5)— 21 (A) in the header, by striking ‘‘2’’ and in- 22 serting ‘‘4’’; and 23 (B) by striking ‘‘2 percent’’ and inserting 24 ‘‘4 percent’’; 25 VerDate Sep 11 2014 23:46 Jul 01, 2023 Jkt 039200 PO 00000 Frm 00005 Fmt 6652 Sfmt 6201 E:\BILLS\S1928.IS S1928 kjohnson on DSK79L0C42PROD with BILLS 6 •S 1928 IS (4) in paragraph (6), by striking ‘‘2 percent’’ 1 and inserting ‘‘4 percent’’; and 2 (5) by adding at the end the following: 3 ‘‘(7) EXCLUSION OF TRANSACTIONS RELATING 4 TO THE PROGRAM ON CHINA AND TRANS- 5 FORMATIONAL EXPORTS.—For the purposes of this 6 subsection, if financing provided under the Program 7 on China and Transformational Exports pursuant to 8 section 2(l) results in the default rate calculated 9 under paragraph (1) equaling or exceeding 4 per- 10 cent, the Bank may exclude such financing, subject 11 to the approval of the Board of Directors.’’. 12 Æ VerDate Sep 11 2014 23:46 Jul 01, 2023 Jkt 039200 PO 00000 Frm 00006 Fmt 6652 Sfmt 6301 E:\BILLS\S1928.IS S1928 kjohnson on DSK79L0C42PROD with BILLS