S.Amdt. 2318
What it does: Inserts new text wherever appropriate
Sen. Patrick J. Toomey (R-PA)What it changes
1 change to H.R. 22
Inserts new text wherever appropriate
InsertsInserted: TITLE __EXPORT-IMPORT BANK OF THE UNITED STATES
Inserted: SEC. __01. SHORT TITLE.
Inserted: This title may be cited as the "Restoring Competition in Export Financing Act of 2015".
Inserted: SEC. __02. EXTENSION OF AUTHORITY.
Inserted: (a) In General.--Section 7 of the Export-Import Bank Act of 1945 (12 U.S.C. 635f) is amended by striking "September 30, 2014" and inserting "June 30, 2025".
Inserted: (b) Dual-Use Exports.--Section 1(c) of Public Law 103-428 (12 U.S.C. 635 note) is amended by striking "September 30, 2014" and inserting "June 30, 2025".
Inserted: (c) Sub-Saharan Africa Advisory Committee.--Section 2(b)(9)(B)(iii) of the Export-Import Bank Act of 1945 (12 U.S.C. 635(b)(9)(B)(iii)) is amended by striking "September 30, 2014" and inserting "June 30, 2025".
Inserted: SEC. __03. AGGREGATE LOAN, GUARANTEE, AND INSURANCE AUTHORITY.
Inserted: (a) In General.--Section 6(a)(2) of the Export-Import Bank Act of 1945 (12 U.S.C. 635e(a)(2)) is amended to read as follows:
Inserted: "(2) Applicable amount.--In paragraph (1), the term 'applicable amount' means--
Inserted: "(A) during fiscal year 2015, $120,000,000,000;
Inserted: "(B) during fiscal year 2016, $115,000,000,000;
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Inserted: "(C) during fiscal year 2017, $103,500,000,000;
Inserted: "(D) during fiscal year 2018, $92,000,000,000;
Inserted: "(E) during fiscal year 2019, $80,500,000,000;
Inserted: "(F) during fiscal year 2020, $69,000,000,000;
Inserted: "(G) during fiscal year 2021, $57,500,000,000;
Inserted: "(H) during fiscal year 2022, $46,000,000,000;
Inserted: "(I) during fiscal year 2023, $34,500,000,000;
Inserted: "(J) during fiscal year 2024, $23,000,000,000; and
Inserted: "(K) during fiscal year 2025, $11,500,000,000.".
Inserted: (b) Measures To Ensure Compliance.--Section 6(a) of the Export-Import Bank Act of 1945 (12 U.S.C. 635e(a)), as amended by subsection (a), is further amended--
Inserted: (1) by redesignating paragraph (3) as paragraph (5); and
Inserted: (2) by inserting after paragraph (2) the following:
Inserted: "(3) Authority to sell seasoned loans and guarantees to comply with limitation.--The Bank may sell seasoned loans and
Inserted: guarantees to private investors to comply with the decreasing limitation on outstanding loans, guarantees, and insurance under this subsection.
Inserted: "(4) Consequences of exceeding limitation.--
Inserted: "(A) In general.--If the Bank exceeds the limitation on outstanding loans, guarantees, and insurance under this subsection in a fiscal year, the Bank--
Inserted: "(i) may not provide any new loans, guarantees, or insurance on or after the date on which the Bank exceeds that limitation; and
Inserted: "(ii) the President of the Bank shall submit to Congress a report describing the reasons the Bank exceeded that limitation and the efforts of the Bank to come into compliance with the limitation.
Inserted: "(B) Testimony.--The Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives may compel the President of the Bank to testify with respect to a report described in subparagraph (A)(ii).".
Inserted: SEC. __04. REPORT ON WINDING DOWN OF OPERATIONS.
Inserted: (a) Report by Export-Import Bank.--Not later than one year after the date of the enactment of this Act, the Export-Import Bank of the United States shall submit to Congress and the Comptroller General of the United States a plan on how the Bank plans--
Inserted: (1) to manage the orderly wind-down of the portfolio and operations of the Bank by June 30, 2025; and
Inserted: (2) to comply with the decreasing limitation on the aggregate loan, guarantee, and insurance authority of the Bank under section 6(a) of the Export-Import Bank Act of 1945, as amended by section __03.
Inserted: (b) Report by Comptroller General of the United States.--After receiving the report required by subsection (a), the Comptroller General of the United States shall submit to Congress an assessment of the plan and such recommendations as the Comptroller General considers appropriate with respect to the plan and the orderly wind-down of the portfolio and operations of the Export-Import Bank of the United States.
Inserted: SEC. __05. EFFECTIVE DATE.
Inserted: The provisions of and amendments made by this title shall take effect on June 30, 2015.
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Original wording
At the appropriate place, insert the following:
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As printed
SA 2318. Mr. TOOMEY submitted an amendment intended to be proposed by him to the bill H.R. 22, to amend the Internal Revenue Code of 1986 to exempt employees with health coverage under TRICARE or the Veterans Administration from being taken into account for purposes of determining the employers to which the employer mandate applies under the Patient Protection and Affordable Care Act; which was ordered to lie on the table; as follows:
At the appropriate place, insert the following:
TITLE __EXPORT-IMPORT BANK OF THE UNITED STATES
SEC. __01. SHORT TITLE.
This title may be cited as the “Restoring Competition in Export Financing Act of 2015”.
SEC. __02. EXTENSION OF AUTHORITY.
(a) In General.--Section 7 of the Export-Import Bank Act of 1945 (12 U.S.C. 635f) is amended by striking “September 30, 2014” and inserting “June 30, 2025”.
(b) Dual-Use Exports.--Section 1(c) of Public Law 103-428 (12 U.S.C. 635 note) is amended by striking “September 30, 2014” and inserting “June 30, 2025”.
(c) Sub-Saharan Africa Advisory Committee.--Section 2(b)(9)(B)(iii) of the Export-Import Bank Act of 1945 (12 U.S.C. 635(b)(9)(B)(iii)) is amended by striking “September 30, 2014” and inserting “June 30, 2025”.
SEC. __03. AGGREGATE LOAN, GUARANTEE, AND INSURANCE AUTHORITY.
(a) In General.--Section 6(a)(2) of the Export-Import Bank Act of 1945 (12 U.S.C. 635e(a)(2)) is amended to read as follows:
“(2) Applicable amount.--In paragraph (1), the term ‘applicable amount' means--
“(A) during fiscal year 2015, $120,000,000,000;
“(B) during fiscal year 2016, $115,000,000,000;
“(C) during fiscal year 2017, $103,500,000,000;
“(D) during fiscal year 2018, $92,000,000,000;
“(E) during fiscal year 2019, $80,500,000,000;
“(F) during fiscal year 2020, $69,000,000,000;
“(G) during fiscal year 2021, $57,500,000,000;
“(H) during fiscal year 2022, $46,000,000,000;
“(I) during fiscal year 2023, $34,500,000,000;
“(J) during fiscal year 2024, $23,000,000,000; and
“(K) during fiscal year 2025, $11,500,000,000.”.
(b) Measures To Ensure Compliance.--Section 6(a) of the Export-Import Bank Act of 1945 (12 U.S.C. 635e(a)), as amended by subsection (a), is further amended--
(1) by redesignating paragraph (3) as paragraph (5); and
(2) by inserting after paragraph (2) the following:
“(3) Authority to sell seasoned loans and guarantees to comply with limitation.--The Bank may sell seasoned loans and
guarantees to private investors to comply with the decreasing limitation on outstanding loans, guarantees, and insurance under this subsection.
“(4) Consequences of exceeding limitation.--
“(A) In general.--If the Bank exceeds the limitation on outstanding loans, guarantees, and insurance under this subsection in a fiscal year, the Bank--
“(i) may not provide any new loans, guarantees, or insurance on or after the date on which the Bank exceeds that limitation; and
“(ii) the President of the Bank shall submit to Congress a report describing the reasons the Bank exceeded that limitation and the efforts of the Bank to come into compliance with the limitation.
“(B) Testimony.--The Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives may compel the President of the Bank to testify with respect to a report described in subparagraph (A)(ii).”.
SEC. __04. REPORT ON WINDING DOWN OF OPERATIONS.
(a) Report by Export-Import Bank.--Not later than one year after the date of the enactment of this Act, the Export-Import Bank of the United States shall submit to Congress and the Comptroller General of the United States a plan on how the Bank plans--
(1) to manage the orderly wind-down of the portfolio and operations of the Bank by June 30, 2025; and
(2) to comply with the decreasing limitation on the aggregate loan, guarantee, and insurance authority of the Bank under section 6(a) of the Export-Import Bank Act of 1945, as amended by section __03.
(b) Report by Comptroller General of the United States.--After receiving the report required by subsection (a), the Comptroller General of the United States shall submit to Congress an assessment of the plan and such recommendations as the Comptroller General considers appropriate with respect to the plan and the orderly wind-down of the portfolio and operations of the Export-Import Bank of the United States.
SEC. __05. EFFECTIVE DATE.
The provisions of and amendments made by this title shall take effect on June 30, 2015.
Legislative Activity
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Senate amendment submitted
July 23, 2015
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Senate amendment submitted
July 23, 2015
Senate amendment submitted
July 23, 2015