Export Trading Company Act of 1982

Summary

Export Trading Company Act of 1981 - Establishes within the Department of Commerce an office to: (1) promote the formation of export trade associations and export trading companies; (2) provide information; and (3) facilitate contacts between producers of exportable goods and firms offering export trade services. Title I: Export Trading Companies - Authorizes any banking organization to invest up to specified amounts in export trading companies upon notifying, but without obtaining the prior approval of, the appropriate Federal banking agency, if such investment does not cause an export trading company to become a subsidiary of such organization. Allows greater investment by Edge Act Corporations not engaged in banking. Permits any banking organization to invest beyond such limitations with the prior approval of the appropriate Federal banking agency. Requires prior notification of such agencies in specified circumstances. Sets forth further limitations on export trading companies and investments by banking organizations. Specifies factors to be taken into consideration by the banking agencies. Permits such agencies to impose conditions in approving applications to invest in export trading companies. Requires such agencies to report to the appropriate Congressional committees with their recommendations concerning implementation of this Act, related changes in U.S. law, and effects of ownership of U.S. banks by foreign banking organizations. Provides for judicial review of denial orders in the appropriate U.S. Court of Appeals. Sets forth the grounds for disapproval. Provides for remand for further consideration by the banking agency. Directs the Economic Development Administration and the Small Business Administration to give special weight to export-related benefits when considering applications for loans and guarantees by export trading companies. Authorizes appropriations for initial investments and operating expenses for fiscal years 1982 through 1985. Directs the Export-Import Bank of the United States to provide loan guarantees to export trading companies or exporters to be secured by accounts receivable or inventories when adequate financing is not otherwise available and such guarantees will facilitate expansion of exports. Title II: Antitrust Provisions - Amends the Webb-Pomerene Act to exempt the export trade, activities, and methods of operation of certified export trade associations and export trading companies from the antitrust laws. Sets forth the procedure to be followed by any association or trading company seeking certification under this Act and by the Secretary in issuing such certificates. Provides for appeal of the Secretary's denial of certification. Authorizes the Attorney General or the Federal Trade Commission (FTC) to bring an action to invalidate a certification. Requires the Secretary, in consultation with the Attorney General and the FTC, to publish guidelines for determining whether an association or export trading company will meet the certification requirements. Requires certified associations and export trading companies to submit annual reports to the Secretary. Requires, with specified exceptions, that all applications for certification be kept confidential. Authorizes the Secretary to require an association or trading company to modify its operation to be consistent with international obligations of the United States. Directs the President to appoint, with the Senate's advice and consent, a task force seven years after enactment to examine the effect of this Act and to make recommendations. Applies, with a specified exception, the antitrust laws in effect before enactment of this Act to any existing export trade association and its trading activities. Provides for automatic certification of existing associations. Title III: Taxation of Export Trading Companies - Amends the Internal Revenue Code of 1954 to make banking organizations which have invested in an export trading company eligible for treatment as domestic international sales corporations (DISC). Includes the gross receipts from the export of services produced in the United States and from export trade services as qualified export receipts, in the case of a DISC which is an export trading company. Directs the Secretary of Commerce, with the Secretary of the Treasury, to develop and distribute information concerning the utilization of the DISC provisions. Amends the Internal Revenue Code of 1954 to make export trading companies eligible for Subchapter S treatment if the shareholders of such companies are otherwise small business corporations. Exempts such companies from restrictions on the amount of foreign income they can receive and still be eligible for Subchapter S tax treatment.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 6 February 1981

   Introduced

   Referred to House Committee on Banking, Finance and Urban Affairs.

   Source: IntroReferral

2. 6 February 1981

   Introduced

   Introduced in House

   Source: IntroReferral

3. 6 February 1981

   Introduced

   Introduced in House

   Source: IntroReferral

4. 12 February 1981

   Referred

   Referred to Subcommittee on International Economic Policy and Trade.

   Source: Committee

5. 17 February 1981

   Referred

   Referred to Subcommittee on Monopolies and Commercial Law.

   Source: Committee

6. 2 March 1981

   Referred

   Referred to Subcommittee on Financial Institutions Supervision, Regulation and Insurance.

   Source: Committee

7. 20 May 1981

   Committee

   Subcommittee Hearings Held.

   Source: Committee

8. 11 June 1981

   Committee

   Subcommittee Hearings Held.

   Source: Committee

9. 29 March 1982

   Committee

   Forwarded by Subcommittee to Full Committee (Amended).

   Source: Committee

10. 29 March 1982

    Committee

    Subcommittee Consideration and Mark-up Session Held.

    Source: Committee

11. 29 April 1982

    Reported

    Ordered to be Reported (Amended).

    Source: Committee

12. 29 April 1982

    Committee

    Committee Consideration and Mark-up Session Held.

    Source: Committee

13. 19 May 1982

    Committee

    Forwarded by Subcommittee to Full Committee (Amended).

    Source: Committee

14. 19 May 1982

    Committee

    Subcommittee Consideration and Mark-up Session Held.

    Source: Committee

15. 15 June 1982

    Committee

    Committee Consideration and Mark-up Session Held.

    Source: Committee

16. 16 June 1982

    Reported

    Ordered to be Reported (Amended).

    Source: Committee

17. 15 July 1982

    Reported

    Reported to House (Amended) by House Committee on Foreign Affairs. Report No: 97-637 (Part I).

    Source: Committee

18. 15 July 1982

    Reported

    Reported to House (Amended) by House Committee on Foreign Affairs. Report No: 97-637 (Part I).

    Source: Committee

19. 26 July 1982

    Reported

    Reported to House (Amended) by House Committee on The Judiciary. Report No: 97-637 (Part II).

    Source: Committee

20. 26 July 1982

    Reported

    Reported to House (Amended) by House Committee on The Judiciary. Report No: 97-637 (Part II).

    Source: Committee

21. 27 July 1982

    Floor

    Laid on Table in House by Voice Vote.

    Source: Floor

22. 27 July 1982

    Passed

    Passed House (Amended) by Voice Vote.

    Source: Floor

23. 27 July 1982

    Passed

    Passed/agreed to in House: Passed House (Amended) by Voice Vote.

    Source: Floor

24. 27 July 1982

    Floor

    Called up by House Under Suspension of Rules.

    Source: Floor

25. 27 July 1982

    Discharge

    House Committee on Ways and Means Discharged by Suspension of Rules.

    Source: Discharge

26. 27 July 1982

    Committee

    House Committee on Ways and Means Discharged by Suspension of Rules.

    Source: Committee

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

3 official files

• Reported to House amended, Part II

  summary · EN · 26 July 1982

  Open at official source

• Reported to House amended, Part I

  summary · EN · 15 July 1982

  Open at official source

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• Introduced in House

  summary · EN · 6 February 1981

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Rep. Bonker, Don [D-WA-3] · D · Sponsor
• Rep. Bingham, Jonathan B. [D-NY-22] · D · Sponsor
• Rep. Kogovsek, Ray [D-CO-3] · D · Cosponsor
• Rep. Frenzel, Bill [R-MN-3] · R · Cosponsor
• Rep. Lagomarsino, Robert J. [R-CA-19] · R · Cosponsor
• Rep. Howard, James J. [D-NJ-3] · D · Cosponsor
• Rep. Glickman, Dan [D-KS-4] · D · Cosponsor
• Rep. Shannon, James M. [D-MA-5] · D · Cosponsor
• Rep. Murphy, Austin J. [D-PA-20] · D · Cosponsor
• Rep. Frank, Barney [D-MA-4] · D · Cosponsor
• Rep. Edgar, Robert W. [D-PA-7] · D · Cosponsor
• Rep. Barnard, Doug, Jr. [D-GA-10] · D · Cosponsor
• Del. Won Pat, Antonio B. [D-GU-At Large] · D · Cosponsor
• Rep. Long, Gillis W. [D-LA-8] · D · Cosponsor
• Rep. Crockett, George W., Jr. [D-MI-13] · D · Cosponsor
• Rep. Clinger, William F., Jr. [R-PA-5] · R · Cosponsor
• Rep. Bonior, David E. [D-MI-10] · D · Cosponsor
• Sen. Simon, Paul [D-IL] · D · Cosponsor
• Rep. McHugh, Matthew F. [D-NY-28] · D · Cosponsor
• Rep. Pritchard, Joel [R-WA-1] · R · Cosponsor
• Rep. Dicks, Norman D. [D-WA-6] · D · Cosponsor
• Rep. Hughes, William J. [D-NJ-2] · D · Cosponsor
• Rep. Coelho, Anthony Lee [D-CA-15] · D · Cosponsor
• Rep. Dornan, Robert K. [R-CA-46] · R · Cosponsor
• Rep. Barnes, Michael D. [D-MD-8] · D · Cosponsor
• Rep. Benjamin, Adam, Jr. [D-IN-1] · D · Cosponsor
• Rep. Fithian, Floyd J. [D-IN-2] · D · Cosponsor
• Rep. Ottinger, Richard L. [D-NY-20] · D · Cosponsor
• Rep. Gibbons, Sam [D-FL-11] · D · Cosponsor
• Rep. Neal, Stephen L. [D-NC-5] · D · Cosponsor
• Rep. Pepper, Claude [D-FL-18] · D · Cosponsor
• Rep. Shamansky, Bob [D-OH-12] · D · Cosponsor
• Rep. Coughlin, Lawrence [R-PA-13] · R · Cosponsor
• Rep. Foley, Thomas S. [D-WA-5] · D · Cosponsor
• Rep. Hiler, John Patrick [R-IN-3] · R · Cosponsor
• Sen. Dorgan, Byron L. [D-ND] · D · Cosponsor
• Rep. Gray, William H., III [D-PA-2] · D · Cosponsor
• Rep. Hyde, Henry J. [R-IL-6] · R · Cosponsor
• Rep. Bereuter, Doug [R-NE-1] · R · Cosponsor
• Rep. McKinney, Stewart B. [R-CT-4] · R · Cosponsor
• Rep. Swift, Al [D-WA-2] · D · Cosponsor
• Rep. Leland, Mickey [D-TX-18] · D · Cosponsor
• Rep. O'Brien, George M. [R-IL-4] · R · Cosponsor
• Rep. Fenwick, Millicent H. [R-NJ-5] · R · Cosponsor
• Rep. Sawyer, Harold S. [R-MI-5] · R · Cosponsor
• Rep. Weaver, James H. [D-OR-4] · D · Cosponsor
• · hsba00 · Standing
• · hsru00 · Standing

Showing 48 of 51 sponsors and actors.

Related records

• related to ← An original bill to encourage exports by facilitating the formation and operation of export trading companies, export trade associations, and the expansion of export trade services generally.