S.Amdt. 2295

1. Rewrites the text the amendment would insert

   Rewrites the amendmentIn place of the text the amendment being amended would insert

   Inserted: TITLE __--TERMINATION OF EXPORT-IMPORT BANK OF THE UNITED STATES

   Inserted: SEC. __01. ABOLISHMENT OF EXPORT-IMPORT BANK OF THE UNITED STATES.

   Inserted: (a) In General.--Effective on the abolishment date:

   Inserted: (1) Abolishment.--The Export-Import Bank of the United States (in this title referred to as the "Bank") is abolished.

   Inserted: (2) Transfer of functions.--All functions that, on the day before the abolishment date are authorized to be performed by the Bank, the Board of Directors of the Bank, any officer or employee of the Bank acting in that capacity, or any agency or office of the Bank, are transferred to the Secretary of the Treasury (in this title referred to as the "Secretary").

   Inserted: (3) Transfer of assets and obligations.--Except as otherwise provided in this title, the obligations, assets, personnel, property, records, and unexpended balances of appropriations, allocations, and other funds employed, used, held, available, or to be made available in connection with a function transferred under paragraph (2) are transferred to the Secretary.

   Inserted: (b) Abolishment Date Defined.--In this title, the term "abolishment date" means the date that is 30 days after the date of the enactment of this Act.

   Inserted: SEC. __02. RESOLUTION AND TERMINATION OF BANK FUNCTIONS.

   Inserted: (a) Resolution of Functions.--The Secretary shall--

   Inserted: (1) complete the disposition and resolution of functions of the Bank in accordance with this title; and

   Inserted: (2) resolve all functions that are transferred to the Secretary under section __01.

   Inserted: (b) Termination of Functions.--All functions that are transferred to the Secretary under section __01 shall terminate on the date all obligations of the Bank, and all obligations of others to the Bank, in effect on the day before the abolishment date have been sold under section __03 or otherwise satisfied, as determined by the Secretary.

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   Inserted: (c) Report to the Congress.--When the Secretary makes the determination described in subsection (b), the Secretary shall report the determination to the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate.

   Inserted: SEC. __03. AUCTION OF BANK ASSETS AND OBLIGATIONS.

   Inserted: (a) In General.--Not later than 30 days after the assets and obligations of the Bank are transferred to the Secretary under this title, the Secretary shall conduct an auction to sell such assets and obligations to non-Federal entities.

   Inserted: (b) Remaining Assets and Obligations.--The Secretary shall service any assets and obligations not sold pursuant to subsection (a) until such assets and obligations reach maturity.

   Inserted: (c) Deposit in General Fund.--The proceeds of the auction required by subsection (a) shall be deposited in the general fund of the Treasury and used for the purpose of deficit reduction.

   Inserted: SEC. __04. AUTHORITY AND RESPONSIBILITY OF THE SECRETARY OF THE TREASURY.

   Inserted: The Secretary shall--

   Inserted: (1) be responsible for the implementation of this title; and

   Inserted: (2) have the authority to carry out any tasks necessary to provide for the transfer of any assets or obligations under section __01 or the auction required by section __03.

   Inserted: SEC. __05. PERSONNEL.

   Inserted: Effective on the abolishment date, there are transferred to the Department of the Treasury all individuals, other than members of the Board of Directors of the Bank, who--

   Inserted: (1) immediately before the abolishment date, were officers or employees of the Bank; and

   Inserted: (2) in their capacity as such an officer or employee, performed functions that are transferred to the Secretary under section __01.

   Inserted: SEC. __06. TRANSFER OF INSPECTOR GENERAL DUTIES.

   Inserted: (a) Termination of the Office of Inspector General for the Export-Import Bank of the United States.--Notwithstanding any other provision of law, the Office of Inspector General for the Bank shall terminate on the abolishment date, and the assets and obligations of the Office shall be transferred to the Office of the Inspector General for the Department of the Treasury or otherwise disposed of.

   Inserted: (b) Authority and Responsibility for Transfer or Disposal.--The Secretary shall have the authority and responsibility for transfer or disposal under subsection (a).

   Inserted: (c) Savings Provision.--The provisions of this section shall not affect the performance of any pending audit, investigation, inspection, or report by the Office of the Inspector General for the Bank as of the abolishment date, with respect to functions transferred by this section. Nothing in this subsection shall be deemed to prohibit the discontinuance or modification of any performance under the same terms and conditions and to the same extent that such performance could have been discontinued or modified if this section had not been enacted.

   Inserted: SEC. __07. EXERCISE OF AUTHORITIES.

   Inserted: Except as otherwise provided by law, the Secretary may, for purposes of performing a function transferred by this title, exercise all authorities under any other provision of law that were available with respect to the performance of that function to the Bank on the day before the effective date of the transfer of the function under this title.

   Inserted: SEC. __08. AVAILABILITY OF EXISTING FUNDS.

   Inserted: (a) In General.--Existing appropriations and funds available for the performance of functions, programs, and activities terminated pursuant to this title shall remain available, for the duration of their period of availability, for necessary expenses in connection with the termination and resolution of such functions, programs, and activities.

   Inserted: (b) Deposit in General Fund.--Any appropriations or other funds described in subsection (a) not used for necessary expenses in connection with the termination and resolution of functions, programs, and activities under this title shall be deposited in the general fund of the Treasury and used for the purpose of deficit reduction.

   Inserted: SEC. __09. CONFORMING AMENDMENTS AND REPEALS.

   Inserted: (a) Repeal of Primary Authorizing Statute.--The Export-Import Bank Act of 1945 (12 U.S.C. 635 et seq.) is repealed.

   Inserted: (b) Elimination of Related Authorizing Provisions.--

   Inserted: (1) Section 103 of the International Development and Finance Act of 1989 (Public Law 101-240; 12 U.S.C. 635 note) is repealed.

   Inserted: (2) Section 303 of the Support for East European Democracy (SEED) Act of 1989 (Public Law 101-179; 12 U.S.C. 635 note) is repealed.

   Inserted: (3) Section 1908 of the Export-Import Bank Act Amendments of 1978 (12 U.S.C. 635a-1) is amended--

   Inserted: (A) by striking "(a)"; and

   Inserted: (B) by striking subsection (b).

   Inserted: (4) Sections 1911 and 1912 of the Export-Import Bank Act Amendments of 1978 (12 U.S.C. 635a-2 and 635a-3) are repealed.

   Inserted: (5) Section 206 of the Bank Export Services Act (12 U.S.C. 635a-4) is repealed.

   Inserted: (6) Sections 1 through 5 of Public Law 90-390 (12 U.S.C. 635j through 635n) are repealed.

   Inserted: (7) Sections 641 through 647 of the Trade and Development Enhancement Act of 1983 (12 U.S.C. 635o note and 12 U.S.C. 536o through 635t) are repealed.

   Inserted: (8) Section 534 of the Foreign Operations, Export Financing, and Related Programs Appropriations Act, 1990 (Public Law 101-167; 12 U.S.C. 635g note) is amended by striking subsection (d).

   Inserted: (9) Section 3302 of the Omnibus Trade and Competitiveness Act of 1988 (Public Law 100-418; 12 U.S.C. 635i-3 note) is amended by striking subsection (a).

   Inserted: (10) Section 1105(a) of title 31, United States Code, is amended by striking paragraph (34) and redesignating the succeeding paragraphs of such section as paragraphs (34) through (38), respectively.

   Inserted: (11) Section 9101(3) of title 31, United States Code, is amended by striking subparagraph (C).

   Inserted: (c) Elimination of Related Compensation Provisions.--

   Inserted: (1) Position at level iii.--Section 5314 of title 5, United States Code, is amended by striking the following item:

   Inserted: "President of the Export-Import Bank of Washington.".

   Inserted: (2) Positions at level iv.--Section 5315 of title 5, United States Code, is amended--

   Inserted: (A) by striking the following item:

   Inserted: "First Vice President of the Export-Import Bank of Washington."; and

   Inserted: (B) by striking the following item:

   Inserted: "Members, Board of Directors of the Export-Import Bank of Washington.".

   Inserted: (d) Elimination of Office of Inspector General for the Bank.--Section 12 of the Inspector General Act of 1978 (5 U.S.C. App.) is amended--

   Inserted: (1) in paragraph (1), by striking "the President of the Export-Import Bank;"; and

   Inserted: (2) in paragraph (2), by striking "the Export-Import Bank,".

   Inserted: (e) Effective Date.--The repeals and amendments made by this section shall take effect on the abolishment date.

   Inserted: (f) Report to the Congress on Other Amendments to Federal Statute.--The Secretary shall submit to the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate a written report that contains suggestions for such other amendments to Federal statutes as may be necessary or appropriate as a result of this title.

   Inserted: SEC. __10. REFERENCES.

   Inserted: Any reference in any other Federal law, Executive order, rule, regulation, or delegation of authority, or any document of or pertaining to Bank shall be deemed to be a reference to the Secretary.

   Original wording

   In lieu of the matter proposed to be inserted, insert the following:

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As printed