Export-Import Bank Act Amendments of 1983

Summary

Export-Import Bank Act Amendments of 1983 - Amends the Export-Import Bank Act of 1945 to extend the authority of the Export-Import Bank of the United States until September 30, 1985. Declares that it is the policy of the United States to insist that participants in the Guidelines for Officially Supported Export Credits honor their pledge not to offer "tied aid credit" containing a grant element less than the minimum specified in the Guidelines. Defines "tied aid credit" to mean credit which is: (1) provided for development aid purposes; (2) financed by public funds or, as a mixed credit, partly from public and partly from private funds; and (3) tied to the purchase of exports from the country granting the credit. Declares that the United States shall try to negotiate an increase in the minimum grant element of tied aid credits. Establishes the Competitive Tied Aid Fund. Requires the money in the Fund to be used to cover a portion of the subsidy contained in any credit granted by the Bank. Permits the Bank to extend such credit only if the Board of Directors and the Secretary of the Treasury determine that: (1) the credit will help U.S. exports competing with exports assisted by foreign official financing in the form of a tied aid credit; (2) the foreign official financing is an abuse of the tied aid credit; and (3) the Secretary of the Treasury determines that the Bank has properly calculated the portion of the subsidy to be covered by money in the fund. Sets forth the criteria for an abuse of tied aid credit. Prohibits the Board from approving tied aid credit unless a portion of its subsidy is covered by funds drawn from the Fund. Requires the Board to report to both Houses of Congress on any approved tied aid credit within 30 days of approving it. Authorizes appropriations. Requires the Board to report to Congress if, at the end of any quarter of any fiscal year after FY 1983, the value of the total capital stock and retained earnings of the Bank falls below 50 percent of the capital stock and retained earnings of the Bank at the end of FY 1983. Emphasizes that the Bank's primary policy is to support U.S. exports in all the Bank's programs. Requires the Bank to reserve not less than: (1) six percent of the Bank's new FY 1984 loans and loan guarantees for financing exports by small businesses; and (2) ten percent of the Bank's new FY 1985 loans and loan guarantees for financing exports by small businesses. Requires the Bank to submit its annual report to Congress on January 1 of each year. Requires the report to contain a comprehensive and detailed description of plans for implementing the provisions relating to loans and loan guarantees to small businesses. Requires that the Bank's annual report to the appropriate congressional committees shall be submitted within three months of the end of the reporting period. Requires the President to appoint at least one member of the Bank's Board to represent the interests of small business. Authorizes appropriations to prepare the U.S. International Trade Commission report on the adverse effect of the Bank's loans and guarantees on domestic industries. Imposes a 60 day deadline for completion of inquiries into purported foreign noncompetitive financing. Requires the Secretary of the Treasury to authorize the Bank to issue financing to U.S. sellers who are competing with foreign exporters who have received noncompetitive financing only if: (1) the availability of foreign official noncompetitive financing is likely to be a "significant" (currently "determining") factor in the sale; and (2) such foreign noncompetitive financing has not been withdrawn.

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

Timeline

1. 28 April 1983

   Committee

   For Previous Action See H.R.2541.

   Source: Committee

2. 28 April 1983

   Introduced

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

   Source: IntroReferral

3. 28 April 1983

   Introduced

   Introduced in House

   Source: IntroReferral

4. 28 April 1983

   Introduced

   Introduced in House

   Source: IntroReferral

5. 2 May 1983

   Referred

   Referred to Subcommittee on International Trade, Investment and Monetary Policy.

   Source: Committee

6. 5 May 1983

   Reported

   Ordered to be Reported (Amended).

   Source: Committee

7. 5 May 1983

   Committee

   Committee Consideration and Mark-up Session Held.

   Source: Committee

8. 16 May 1983

   Calendars

   Placed on Union Calendar No: 114.

   Source: Calendars

9. 16 May 1983

   Reported

   Reported to House (Amended) by House Committee on Banking, Finance and Urban Affairs. Report No: 98-176.

   Source: Committee

10. 16 May 1983

    Reported

    Reported to House (Amended) by House Committee on Banking, Finance and Urban Affairs. Report No: 98-176.

    Source: Committee

11. 28 June 1983

    Floor

    Rule Granted Providing an Open Rule with 1 Hour of Debate. Waiver of Points of Order.

    Source: Floor

12. 29 June 1983

    Reported

    Rules Committee Resolution H.Res.252 Reported to House.

    Source: Floor

13. 30 November 1983

    Committee

    Similar Provisions Contained in H.R.3959.

    Source: Committee

Votes

No vote records are attached yet.

Versions

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

Documents

2 official files

• Reported to House with amendment(s)

  summary · EN · 16 May 1983

  Open at official source

• Introduced in House

  summary · EN · 28 April 1983

  Open at official source

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Sponsors

• Rep. Neal, Stephen L. [D-NC-5] · D · Sponsor
• Rep. St Germain, Fernand J. [D-RI-1] · D · Sponsor
• Rep. Lundine, Stanley N. [D-NY-34] · D · Sponsor
• Rep. Barnard, Doug, Jr. [D-GA-10] · D · Sponsor
• Rep. Patterson, Jerry M. [D-CA-38] · D · Sponsor
• Rep. LaFalce, John J. [D-NY-29] · D · Sponsor
• Rep. Lowry, Mike [D-WA-7] · D · Sponsor
• Rep. Coyne, William J. [D-PA-14] · D · Sponsor
• Rep. Roemer, Buddy [D-LA-4] · D · Sponsor
• Rep. Lehman, Richard H. [D-CA-19] · D · Sponsor
• Rep. Kaptur, Marcy [D-OH-9] · D · Sponsor
• Rep. Cooper, Jim [D-TN-5] · D · Sponsor
• Rep. Levin, Sander M. [D-MI-12] · D · Sponsor
• Rep. Leach, James A. [R-IA-2] · R · Sponsor
• · hsba00 · Standing

Related records

• related to → Export-Import Bank Act Amendments of 1983
• related to → A resolution providing for the consideration of the bill (H.R. 2842) to amend the Export-Import Bank Act of 1945 to establish the Competitive Tied Aid Fund, and for other purposes.
• related to ← Supplemental Appropriations Act, 1984