To require the Export-Import Bank of the United States to provide financing only for transactions subsidized by export credit agencies of other countries or for which private sector financing is unavailable or prohibitively expensive and to require the Bank to maintain a ratio of capital to the outstanding principal balance of loans and loan guarantees of not less than 10 percent.

TEXT OF AMENDMENTS

SA 2099. Mr. VITTER submitted an amendment intended to be proposed by
him to the bill H.R. 2072, to reauthorize the Export-Import Bank of the
United States, and for other purposes; which was ordered to lie on the
table; as follows:

Strike section 8 and insert the following:

SEC. 8. NONSUBORDINATION REQUIREMENT.

Section 2 of the Export-Import Bank Act of 1945 (12 U.S.C.
635), as amended by section 7 of this Act, is further amended
by adding at the end the following:
``(j) Nonsubordination Requirement.--Notwithstanding any
other provision of law, the Bank may not make or guarantee a
loan that is subordinate to any other loan.''.

SEC. 8A. FINANCING OF DOMESTIC FOSSIL FUEL PROJECTS;
RESTRICTION ON FINANCING OF FOSSIL FUEL
PROJECTS OUTSIDE THE UNITED STATES.

(a) Identification of Domestic Fossil Fuel Projects.--Not
later than 90 days after the date of the enactment of this
Act, the Export-Import Bank of the United States shall
identify projects involving the production, refining, or
transportation of fossil fuels in the United States that
could benefit from the provision of financing by the Bank.
(b) Financing of Fossil Fuel Projects.--Notwithstanding any
other provision of law, if the Export-Import Bank of the
United States identifies projects involving the production,
refining, or transportation of fossil fuels in the United
States that could benefit from the provision of financing by
the Bank under subsection (a)--
(1) the Bank may provide financing (including guarantees,
insurance, or extensions of credit, or participation in the
extension of credit) with respect to those projects; and
(2) the Bank shall not provide financing with respect to
any project that involves the production, refining, or
transportation of fossil fuels in a foreign country until the
Bank certifies to Congress that--
(A) all projects identified under subsection (a) have been
reviewed; and

[[Page S3092]]

(B) with respect to each such project, the Bank--
(i) has provided financing;
(ii) has determined that the persons conducting the project
have no interest in receiving financing from the Bank; or
(iii) has determined that providing financing with respect
to the project would present a risk of loss that is
unacceptable under the standards of the Bank.
(c) Attorney and Consulting Fees.--Notwithstanding any
other provision of law, the Export-Import Bank of the United
States may, in providing financing with respect to a project
identified under subsection (a), increase the amount of the
financing to take into account the costs of any attorney or
consulting fees incurred in--
(1) meeting the requirements necessary to obtain a permit
from any Federal agency with respect to the project; or
(2) responding to any civil action relating to the
environmental impact of the project filed in any Federal or
State court by a nongovernmental organization.
(d) Definition of Fossil Fuel.--In this section, the term
``fossil fuel'' means natural gas, petroleum, coal, or any
form of solid, liquid, or gaseous fuel derived from natural
gas, petroleum, or coal.

SEC. 8B. PROHIBITION ON, AND REPEAL OF MINIMUM INVESTMENT
GOALS FOR, FINANCING OF RENEWABLE ENERGY
PROJECTS.

(a) Prohibition on Financing of Certain Renewable Energy
Projects.--Notwithstanding any other provision of law, the
Export-Import Bank of the United States may not provide any
guarantee, insurance, or extension of credit (or participate
in the extension of credit) with respect to any project that
involves the manufacture of renewable energy products in a
foreign country.
(b) Repeal of Minimum Investment Goal for Financing of
Renewable Energy Projects.--Section 534(d) of the Foreign
Operations, Export Financing, and Related Programs
Appropriations Act, 1990 (12 U.S.C. 635g note) is repealed.
______

SA 2100. Mr. LEE (for himself and Mr. DeMint) submitted an amendment
intended to be proposed by him to the bill H.R. 2072, to reauthorize
the Export-Import Bank of the United States, and for other purposes;
which was ordered to lie on the table; as follows:

At the appropriate place, insert the following:

SEC. __. TERMINATION OF EXPORT-IMPORT BANK OF THE UNITED
STATES.

(a) One-year Extension of Authority.--Notwithstanding any
other provision of this Act or any other provision of law,
the authority of the Export-Import Bank of the United States
under section 7 of the Export-Import Bank Act of 1945 (12
U.S.C. 635f) terminates on May 31, 2013.
(b) Termination of Authority.--Notwithstanding any other
provision of this Act or any other provision of law, on and
after June 1, 2013--
(1) the Export-Import Bank of the United States may not
enter into any new agreement for the provision of a loan, a
loan guarantee, or insurance, the extension of credit, or any
other form of financing;
(2) the Bank shall continue to operate only to the extent
necessary to fulfill the obligations of the Bank pursuant to
agreements described in paragraph (1) entered into before
June 1, 2013; and
(3) the President of the Bank shall take such measures as
are necessary to wind up the affairs of the Bank, including
by reducing the operations of the Bank and the number of
employees of the Bank as the number of remaining agreements
described in paragraph (1) decreases.
(c) Repeal of Export-Import Bank Act of 1945.--
Notwithstanding any other provision of this Act or any other
provision of law, effective on the date on which the Export-
Import Bank of the United States has fulfilled all
outstanding obligations of the Bank pursuant to agreements
described in subsection (b)(1) entered into before June 1,
2013, the Export-Import Bank Act of 1945 (12 U.S.C. 635 et
seq.) is repealed.

SEC. __. NEGOTIATIONS TO END EXPORT CREDIT FINANCING.

(a) In General.--The President shall initiate and pursue
negotiations with other major exporting countries, including
members of the Organisation for Economic Co-operation and
Development and countries that are not members of that
Organisation, to end subsidized export financing programs and
other forms of export subsidies.
(b) Report Required.--Not later than 180 days after the
date of the enactment of this Act, and annually thereafter,
the President 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 negotiations described in subsection
(a) until the President certifies in writing to those
committees that all countries that support subsidized export
financing programs have agreed to end the support.
______

SA 2101. Mr. PAUL submitted an amendment intended to be proposed by
him to the bill H.R. 2072, to reauthorize the Export-Import Bank of the
United States, and for other purposes; which was ordered to lie on the
table; as follows:

At the appropriate place, insert the following:

SEC. __. PROHIBITION ON FINANCING BY THE EXPORT-IMPORT BANK
OF THE UNITED STATES FOR PERSONS OR PROJECTS IN
COUNTRIES THAT HOLD DEBT INSTRUMENTS OF THE
UNITED STATES.

(a) In General.--Notwithstanding any provision of the
Export-Import Bank Act of 1945 (12 U.S.C. 635 et seq.), the
Export-Import Bank of the United States may not provide any
guarantee, insurance, or extension of credit (or participate
in the extension of credit) to a person or with respect to a
project in a country the government or central bank of which
holds debt instruments of the United States.
(b) Debt Instruments of the United States Defined.--In this
section, the term ``debt instruments of the United States''
means bills, notes, and bonds issued or guaranteed by the
United States or by an entity of the United States
Government.
______

SA 2102. Mr. CORKER submitted an amendment intended to be proposed by
him to the bill H.R. 2072, to reauthorize the Export-Import Bank of the
United States, and for other purposes; which was ordered to lie on the
table; as follows:

Strike section 25 and insert the following:

SEC. 25. LIMITATION ON FINANCING BY THE EXPORT-IMPORT BANK OF
THE UNITED STATES TO TRANSACTIONS SUBSIDIZED BY
OTHER COUNTRIES OR FOR WHICH PRIVATE SECTOR
FINANCING IS UNAVAILABLE OR PROHIBITIVELY
EXPENSIVE.

(a) In General.--Notwithstanding any provision of the
Export-Import Bank Act of 1945 (12 U.S.C. 635 et seq.) or any
other provision of law, the Export-Import Bank of the United
States may not provide any financing (including any
guarantee, insurance, or extension of credit, or
participation in any extension of credit) for the exportation
of any article unless the Bank certifies to Congress in
writing that--
(1) an export credit agency of a foreign country is
providing financing for the exportation of a substantially
similar article from that country; or
(2) private sector financing for the exportation of the
article is not available or is prohibitively expensive.
(b) Additional Information Required.--If the Export-Import
Bank of the United States certifies under subsection (a)(2)
that private sector financing for the exportation of an
article is not available or is prohibitively expensive, the
Bank shall also include in the certification the following:
(1) An explanation of why private sector financing is not
available or is prohibitively expensive.
(2) An explanation of how financing by the Bank for the
exportation of the article does not put the United States at
a substantial risk of loss.
(3) If private sector financing is available but
prohibitively expensive, an assessment of the difference
between the cost of private sector financing and the cost of
financing provided by the Bank.
(c) Report on Regulatory Barriers.--For any transaction
relating to the exportation of an article financed by the
Export-Import Bank of the United States after certifying
under subsection (a)(2) that private sector financing is
unavailable, the Secretary of the Treasury shall submit to
Congress a report that--
(1) assesses the extent to which private sector financing
is unavailable as a result of excessive regulation of
domestic financial institutions by the Federal Government or
the obligations of the United States under international
agreements relating to risk management by financial
institutions; and
(2) makes recommendations for eliminating the barriers to
private sector financing identified under paragraph (1).

SEC. 26. CAPITAL RATIO REQUIREMENT FOR THE EXPORT-IMPORT BANK
OF THE UNITED STATES.

(a) In General.--Notwithstanding any other provision of
law, the Export-Import Bank of the United States shall
maintain a capital ratio of not less than 10 percent.
(b) Capital Ratio Defined.--In this section, the term
``capital ratio'' means the ratio of the capital of the
Export-Import Bank of the United States to the total
outstanding principal balance of all loans made or guaranteed
by the Bank.

SEC. 27. EFFECTIVE DATE.

Except as provided in section 9(b), this Act and the
amendments made by this Act shall take effect on the earlier
of June 1, 2012, or the date of the enactment of this Act.
______

SA 2103. Mr. VITTER submitted an amendment intended to be proposed by
him to the bill H.R. 2072, to reauthorize the Export-Import Bank of the
United States, and for other purposes; which was ordered to lie on the
table; as follows:

Strike section 8 and insert the following:

SEC. 8. NONSUBORDINATION REQUIREMENT.

Section 2 of the Export-Import Bank Act of 1945 (12 U.S.C.
635), as amended by section 7 of this Act, is further amended
by adding at the end the following:
``(j) Nonsubordination Requirement.--Notwithstanding any
other provision of law, the Bank shall not make or guarantee
a loan that is subordinate to any other loan.''.

[[Page S3093]]

SEC. 8A. PROHIBITION ON FINANCING OF FOSSIL FUEL PROJECTS IN
FOREIGN COUNTRIES THAT ARE SUBSTANTIALLY
SIMILAR TO CERTAIN FOSSIL FUEL PROJECTS IN THE
UNITED STATES.

(a) Identification of Certain Domestic Fossil Fuel
Projects.--Not later than 90 days after the date of the
enactment of this Act, the Export-Import Bank of the United
States shall identify projects involving the production,
refining, or transportation of fossil fuels in the United
States that could benefit from the provision of a loan, loan
guarantee, or other form of financing by a Federal agency.
(b) Prohibition on Financing of Certain Fossil Fuel
Projects.--
(1) In general.--Notwithstanding any other provision of
law, on and after the date that is 90 days after the date of
the enactment of this Act, the Bank shall not provide any
guarantee, insurance, or extension of credit (or participate
in the extension of credit) with respect to any project in a
foreign country that the Bank determines is substantially
similar to a project identified under subsection (a).
(2) Certification required.--If, on and after the date that
is 90 days after the date of the enactment of this Act, the
Export-Import Bank of the United States provides financing
with respect to a project involving the production, refining,
or transportation of fossil fuels in a foreign country, the
Bank shall certify to Congress that to the knowledge of the
Bank there are no projects in the United States that are
substantially similar to the project in the foreign country
that could benefit from the provision of a loan, loan
guarantee, or other form of financing by a Federal agency.
(c) Definition of Fossil Fuel.--In this section, the term
``fossil fuel'' means natural gas, petroleum, coal, or any
form of solid, liquid, or gaseous fuel derived from natural
gas, petroleum, or coal.

SEC. 8B. PROHIBITION ON, AND REPEAL OF MINIMUM INVESTMENT
GOALS FOR, FINANCING OF RENEWABLE ENERGY
PROJECTS.

(a) Prohibition on Financing of Certain Renewable Energy
Projects.--Notwithstanding any other provision of law, the
Export-Import Bank of the United States shall not provide any
guarantee, insurance, or extension of credit (or participate
in the extension of credit) with respect to any project that
involves the manufacture of renewable energy products in a
foreign country.
(b) Repeal of Minimum Investment Goal for Financing of
Renewable Energy Projects.--Section 534(d) of the Foreign
Operations, Export Financing, and Related Programs
Appropriations Act, 1990 (12 U.S.C. 635g note) is repealed.
______

SA 2104. Mr. TOOMEY (for himself, Mr. DeMint, and Mr. Lee) submitted
an amendment intended to be proposed by him to the bill H.R. 2072, to
reauthorize the Export-Import Bank of the United States, and for other
purposes; which was ordered to lie on the table; as follows:

Strike section 3 and insert the following:

SEC. 3. LIMITATIONS ON OUTSTANDING LOANS, GUARANTEES, AND
INSURANCE.

Section 6(a)(2) of the Export-Import Bank Act of 1945 (12
U.S.C. 635e(a)(2)) is amended--
(1) in subparagraph (D), by striking ``and'';
(2) in subparagraph (E), by striking the comma at the end
and inserting ``; and''; and
(3) by adding at the end the following:
``(F) during fiscal year 2012 and each succeeding fiscal
year, $100,000,000,000, except that--
``(i) the applicable amount for each of fiscal years 2013
and 2014 shall be $120,000,000,000 if--

``(I) the Bank has submitted a report as required by
section 4(a) of the Export-Import Bank Reauthorization Act of
2012;
``(II) the rate calculated under section 8(g)(1) of this
Act is less than 2 percent for the quarter ending with the
beginning of the fiscal year, or for any quarter in the
fiscal year; and
``(III) the Secretary of the Treasury has certified in
writing to the Committee on Banking, Housing, and Urban
Affairs of the Senate and the Committee on Financial Services
of the House of Representatives that the Secretary has
initiated the negotiations required by section 11(a) of the
Export-Import Bank Reauthorization Act of 2012; and

``(ii) notwithstanding clause (i), the applicable amount
for fiscal year 2014 shall be $140,000,000,000 if--

``(I) the rate calculated under section 8(g)(1) of this Act
is less than 2 percent for the quarter ending with the
beginning of the fiscal year, or for any quarter in the
fiscal year;
``(II) the Bank has submitted a report as required by
subsection (b) of section 5 of the Export-Import Bank
Reauthorization Act of 2012, except that the preceding
provisions of this subclause shall not apply if the
Comptroller General has not submitted the report required by
subsection (a) of such section 5 on or before July 1, 2013;
and
``(III) the Secretary of the Treasury has submitted to the
Committee on Banking, Housing, and Urban Affairs of the
Senate and the Committee on Financial Services of the House
of Representatives the text of a multilateral agreement to
eliminate subsidized export financing programs (including
aircraft export credit financing) agreed to by--

``(aa) each country that is a member of the Organisation
for Economic Co-operation and Development; and
``(bb) each country that is not a member of that
Organisation that, during fiscal year 2012 or any fiscal year
thereafter, provided export financing in excess of
$50,000,000,000.''.

____________________