S.Amdt. 1874

1. Adds TITLE VIII--EXPORT-IMPORT BANK OF THE UNITED STATES at the end of the bill

   Adds a title

   In H.R. 3606 · Placed on Calendar Senate

   Passed the House of Representatives March 8, 2012.

   Inserted: TITLE VIII--EXPORT-IMPORT BANK OF THE UNITED STATES

   Inserted: SEC. 801. ELIMINATION OF EXEMPTION FROM SUBSTANTIAL INJURY DETERMINATIONS FOR TRANSACTIONS OF LESS THAN $10,000,000.

   Inserted: Section 2(e)(1) of the Export-Import Bank Act of 1945 (12 U.S.C. 635(e)(1)) is amended, in the matter preceding subparagraph (A)--

   Inserted: (1) by striking "credit of financial" and inserting "credit or financial"; and

   Inserted: (2) by inserting "without regard to whether the credit or guarantee relates to a transaction involving more than $10,000,000," after "United States,".

   Inserted: SEC. 802. PUBLICATION OF GUIDELINES FOR ECONOMIC IMPACT ANALYSES AND DOCUMENTATION OF SUCH ANALYSES.

   Inserted: Section 2(e)(7) of the Export-Import Bank Act of 1945 (12 U.S.C. 635(e)(7)) is amended--

   Inserted: (1) by redesignating subparagraphs (E) and (F) as subparagraphs (G) and (H), respectively; and

   Inserted: (2) by inserting after subparagraph (D) the following:

   Inserted: "(E) Guidelines for economic impact analyses.--Not later than 90 days after the date of the enactment of the Jumpstart Our Business Startups Act, the Bank shall develop and make publicly available methodological guidelines to be used by the Bank in conducting economic impact analyses or similar studies under this subsection. In developing such guidelines, the Bank shall take into consideration any relevant guidance from the Office of Management and Budget.

   Inserted: "(F) Maintenance of documentation.--The Bank shall maintain documentation relating to economic impact analyses and similar studies conducted under this subsection in a manner consistent with the Standards for Internal Control of the Federal Government issued by the Comptroller General of the United States.".

   Inserted: SEC. 803. LIMITATION ON ASSISTANCE TO FOREIGN AIR CARRIERS.

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   Inserted: Section 2 of the Export-Import Bank Act of 1945 (12 U.S.C. 635) is amended by adding at the end the following:

   Inserted: "(h) Limitation on Assistance to Foreign Air Carriers.--

   Inserted: "(1) Definitions.--In this subsection:

   Inserted: "(A) Home country.--A country is the 'home country' of an applicant for a loan or financial guarantee if--

   Inserted: "(i) in the case of an individual, the individual is a citizen or resident of that country; and

   Inserted: "(ii) in the case of an entity, the entity is organized under the laws of that country or otherwise subject to the jurisdiction of the government of that country.

   Inserted: "(B) Long-range aircraft.--The term 'long-range aircraft', with respect to an aircraft that may be purchased by an applicant for a loan or financial guarantee, means an aircraft with a range that is equal to or greater than the shortest distance between the home country of the applicant and the continental United States.

   Inserted: "(C) United states air carrier.--The term 'United States air carrier' means an air carrier organized under the laws of the United States or any jurisdiction within the United States.

   Inserted: "(2) Procedures to reduce adverse effects of loans and guarantees on united states air carriers and employment in united states.--

   Inserted: "(A) Notice and comment requirements.--

   Inserted: "(i) In general.--Before considering or approving any application for any loan or financial guarantee that may be used in whole or in part to purchase any long-range aircraft, the Bank shall--

   Inserted: "(I) publish in the Federal Register a notice of the application;

   Inserted: "(II) provide a period of not less than 14 days (which, on request by any affected party, shall be extended to a period of not more than 30 days) for the submission to the Bank of comments on the economic or other potentially adverse effects of the provision of the loan or guarantee; and

   Inserted: "(III) seek comments on the economic or other potentially adverse effects of the provision of the loan or guarantee from the Department of Commerce, the Office of Management and Budget, the Committee on Banking, Housing, and Urban Affairs of the Senate, and the Committee on Financial Services of the House of Representatives.

   Inserted: "(ii) Content of notice.--The notice published under clause (i)(I) with respect to an application for any loan or financial guarantee that may be used in whole or in part to purchase any long-range aircraft shall include appropriate information about--

   Inserted: "(I) the country to which the aircraft will be shipped;

   Inserted: "(II) the type of aircraft being exported;

   Inserted: "(III) the amount of the loan or guarantee;

   Inserted: "(IV) the number of aircraft that would be produced as a result of the provision of the loan or guarantee;

   Inserted: "(V) the number of available seats on flights that would result from the provision of the loan or guarantee;

   Inserted: "(VI) the percentage of each aircraft that would be manufactured exclusively within the United States;

   Inserted: "(VII) the number of jobs for pilots, flight attendants, and other employees of United States air carriers that would be lost if the aircraft to be purchased using the loan or guarantee were to displace aircraft operated by a United States air carrier on any route between the United States and any foreign country; and

   Inserted: "(VIII) the number of other jobs in the United States that would be lost if the loan or guarantee were approved.

   Inserted: "(iii) Procedure regarding materially changed applications.--

   Inserted: "(I) In general.--If a material change is made to an application for a loan or guarantee that may be used in whole or in part to purchase any long-range aircraft after a notice with respect to the application is published under clause (i), the Bank shall publish in the Federal Register a revised notice of the application and shall provide for an additional comment period as described in clause (i)(II).

   Inserted: "(II) Material change defined.--For purposes of subclause (I), the term 'material change', with respect to application for a loan or guarantee that may be used in whole or in part to purchase any long-range aircraft, includes--

   Inserted: "(aa) a change of at least 25 percent in the amount of a loan or guarantee requested in the application; or

   Inserted: "(bb) a change in the type or number of aircraft to be produced as a result of any transaction that would be facilitated by the provision of the loan or guarantee.

   Inserted: "(B) Requirement to consider views of adversely affected persons.--Before issuing a final commitment for, or otherwise taking final action on, an application for any loan or guarantee that may be used in whole or in part to purchase any long-range aircraft, the Board of Directors of the Bank shall consider the views of any person that submitted comments pursuant to subparagraph (A).

   Inserted: "(C) Notification of final decision.--Not later than 7 days after the Board of Directors issues a final commitment for, or otherwise takes final action on, an application for any loan or guarantee that may be used in whole or in part to purchase any long-range aircraft, the Bank shall provide notice of the commitment or action in the Federal Register.

   Inserted: "(D) Publication of conclusions.--Not later than 30 days after a party affected by a final decision of the Board of Directors to issue a final commitment for, or otherwise take final action on, an application for a loan or guarantee that may be used in whole or in part to purchase any long-range aircraft makes a written request for an explanation of the decision, the Bank shall provide to the affected party a reasoned explanation for the decision that includes a nonarbitrary and noncapricious response to any comments that the party submitted pursuant to subparagraph (A).

   Inserted: "(3) Prohibition on loans or guarantees that will cause substantial injury to united states air carriers or their employees.--

   Inserted: "(A) Prohibition.--Notwithstanding any other provision of this Act, the Bank may not provide any loan or financial guarantee that may be used in whole or in part to purchase any long-range aircraft if the provision of the loan or guarantee will cause substantial injury to any United States air carrier or the employees of any United States air carrier.

   Inserted: "(B) Definition.--For purposes of subparagraph (A), the provision of a loan or guarantee will cause substantial injury to a United States air carrier or its employees if the number of available seats on flights between the United States and the home country of the applicant for the loan or guarantee that will result from the provision of the loan or guarantee will equal or exceed 1 percent of the number of available seats on flights operated by United States air carriers between the United States and the home country of the applicant.

   Inserted: "(C) Calculation.--In calculating under subparagraph (B) the number of available seats on flights between the United States and the home country of an applicant for a loan or financial guarantee that will result from the provision of the loan or guarantee, the Bank shall--

   Inserted: "(i) presume that the applicant will use 20 percent of the long-range aircraft specified in the application, or 20 percent of the total long-range aircraft specified in all applications approved by the Bank for the applicant in the preceding 12 months, whichever is larger, to fly between the United States and the home country of the applicant; and

   Inserted: "(ii) multiply the number of aircraft determined under clause (i) by the average number of seats on all long-range aircraft specified in the application.

   Inserted: "(4) Administrative procedure act.--The actions of the Bank under this subsection shall comply with, and be reviewable under, chapter 7 of title 5, United States Code. This subsection shall not be construed to make subchapter II of chapter 5 of title 5, United States Code, applicable to the Bank.".

   Inserted: SEC. 804. REPORT ON IMPLEMENTATION OF RECOMMENDATIONS OF THE GOVERNMENT ACCOUNTABILITY OFFICE.

   Inserted: Not later than 90 days after the date of the enactment of this Act, the Export-Import Bank of the United States shall submit to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives a report on the progress of the Bank in implementing the recommendations contained in the report of the Government Accountability Office entitled "Export-Import Bank: Improvements Needed in Assessment of Economic Impact", dated September 12, 2007 (GAO 07 1071), that includes--

   Inserted: (1) a detailed description of the progress made in implementing each such recommendation; and

   Inserted: (2) for any such recommendation that has not yet been implemented, an explanation of the reasons the recommendation has not been implemented.

   Original wording

   At the end, add the following:

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As printed