S.Amdt. 1916

SA 1916. Mr. CHAMBLISS submitted an amendment intended to be proposed
to amendment SA 1836 proposed by Mr. Reid (for Ms. Cantwell (for
herself, Mr. Johnson of South Dakota, Mr. Graham, Mr. Shelby, Mr.
Warner, Mr. Schumer, Mr. Brown of Ohio, Mrs. Hagan, Mr. Coons, Mr.
Akaka, Mrs. Murray, Ms. Landrieu, Mr. Kerry, and Mr. Kirk)) to the bill
H.R. 3606, to increase American job creation and economic growth by
improving access to the public capital markets for emerging growth
companies; which was ordered to lie on the table; as follows:

At the end of the amendment, add the following:

SEC. 817. PERIODIC AUDITS OF TRANSACTIONS OF THE EXPORT-
IMPORT BANK OF THE UNITED STATES.

(a) In General.--Not later than 2 years after the date of
the enactment of this Act, and periodically (but not less
frequently than every 4 years) thereafter, the Comptroller
General of the United States shall conduct an audit of the
loan and guarantee transactions of the Export-Import Bank of
the United States to determine the compliance of the Bank
with the underwriting guidelines, lending policies, due
diligence procedures, and content guidelines of the Bank.
(b) Review of Fraud Controls.--The Comptroller General of
the United States shall review the adequacy of the design and
effectiveness of the controls used by the Export-Import Bank
of the United States to prevent, detect, and investigate
fraudulent applications for loans and guarantees, including
by auditing a sample of Bank transactions, and submit to
Congress a written report that contains such recommendations
with respect to the controls as the Comptroller General deems
appropriate.
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