Export Enhancement Act of 1992

Summary

Export Enhancement Act of 1992 - Title I: Reauthorization of Export-Import Bank - Amends the Export-Import Bank Act of 1945 to extend through FY 1997 the authority of the Export-Import Bank of the United States (Bank) to finance the export of goods and services to foreign countries. Authorizes appropriations for FY 1993 through 1995 for the Tied Aid Credit Fund. Requires the Bank, among other things, when determining whether to provide support for exports under its loan, guarantee, and insurance program to consider the need to involve private capital. Authorizes the Bank to guarantee up to 100 percent coverage of the interest and principal of loans for exports if its Board of Directors determines the coverage to be necessary to ensure acceptance of Bank guarantees by U.S. financial institutions for any transaction in any export market in which the Bank is open for business. Directs the Bank, in transactions involving projects for which long-term support requested is $10 million or more and certain environmental concerns exist, to establish procedures to take into account the potential beneficial and adverse environmental effects of goods and services which it may support under its direct lending and guarantee programs. Authorizes the Board to withhold financing for environmental reasons or to approve financing after considering the potential environmental effects of a project. Encourages the Bank to use its programs to support the export of goods and services that have beneficial effects on the environment or mitigate potential adverse environmental effects. Provides for compensation of Bank employees. Redefines the term "Marxist-Leninist country" to mean any country which: (1) maintains a centrally planned economy based on the principles of "Marxism-Leninism"; or (2) is economically and militarily dependent on any other country which maintains a centrally planned economy based on the principles of "Marxism-Leninism." Requires fees and premiums charged to be commensurate with risks covered in connection with the contractual liability which the Bank incurs for guarantees, insurance, coinsurance, and reinsurance against political and credit risk of loss. (Currently, not less than 25 percent of such contractual liability may be charged against such risks of loss.) Increases the size of the Bank's Advisory Committee from 12 to 15 members. Increases the ceiling on the total amount of outstanding loans for Bank programs from $40 billion to $75 billion. Title II: Export Promotion - Directs the President to establish the Trade Promotion Coordinating Committee (TPCC) to coordinate U.S. export promotion and financing activities. Requires the TPCC to develop a governmentwide strategic plan for Federal trade promotion efforts. Amends the Omnibus Trade and Competitiveness Act of 1988 to require the United States and Foreign Commercial Service to: (1) use its district and foreign offices as one-stop shops providing U.S. exporters with information on all Federal export promotion activities; and (2) provide information and assistance to U.S. exporters on all financing and insurance programs of the Bank. Amends the Export-Import Bank Act of 1945 to require the Bank to: (1) provide full and current information on all of its programs and financing practices to the U.S. and Foreign Commercial Service; and (2) undertake a training program for Service officers in Bank programs and practices. Amends the Export Enhancement Act of 1988 to increase from eight to 12 the number of missions that the Secretary of Commerce (Secretary) may designate abroad and for which senior Commercial Service Officers will be able to use the diplomatic title of Minister-Counselor. Requires the Secretary to: (1) report annually to the Congress on the U.S. international economic position; and (2) appear annually before specified congressional committees to testify on issues addressed in the report. Amends the Export Administration Amendments Act of 1985 to authorize appropriations for FY 1993 and 1994 to the Department of Commerce.

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Documents

4 official files

• Reported to Senate (text)

  Reported to Senate · EN

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• Introduced in Senate (text)

  Introduced in Senate · EN

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• Indefinitely postponed in Senate

  summary · EN · 12 August 1992

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• Introduced in Senate

  summary · EN · 17 June 1992

  Open at official source

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