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.

Summary

Title I: Export Trading Companies - Export Trading Company Act of 1981 - Directs the Secretary of Commerce to promote export trading companies by providing information and by facilitating contacts between producers of exportable goods and export trading companies. Authorizes any banking organization to invest 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 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. Authorizes the appropriate Federal banking agency to exempt from specified requirements of the Federal Reserve Act any loan or extension of credit made by a national or State bank to an export trading company affiliate if such exemption is necessary to finance an affiliated export trading company and does not expose the bank to undue financial risks. Provides for judicial review of denial orders in the appropriate U.S. Court of Appeals. Sets forth the grounds for disapproval. Provides for a 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 up to $10,000,000 to be appropriated for initial investments and operating expenses for each of fiscal years 1982-1986. Directs the Export-Import Bank of the United States to provide loan guarantees for expansion to export trading companies or exporters when adequate financing is not otherwise available. Requires such loan guarantees to be secured by accounts receivable or inventories. Directs the Board of Directors to try to insure that a major share of such guarantees promotes exports from small, medium-size, and minority businesses or agricultural concerns. Authorizes the Secretary to make grants to subsidize the employment of export managers by small business manufacturing firms which have not previously been substantial exporters. Limits such grants to the lesser of: (1) 50 percent of the expenses related to employing a full-time export manager for one year; or (2) $40,000. Sets forth the requirements for an application by a firm for such grant and the factors the Secretary shall consider in making such grants. Authorizes appropriations for each of fiscal years 1982-1984 to carry out this grant program. Directs the Secretary to evaluate this program and to submit such evaluation and any recommendation to Congress by a specified date. Title II: Export Trade Association - Export Trade Association Act of 1981 - Amends the Webb-Pomerene Act to exempt the trade, activities and methods of operation of certified export trade associations and export trading companies from the antitrust laws. Delays the effectiveness of any certificate upon the notification of the Secretary of Commerce by the Attorney General or the Federal Trade Commission (FTC) of disagreement with the decision to issue a certificate. Sets forth the procedure to be followed by any association or export trading company seeking certification under this Act and by the Secretary in issuing such certificates. Permits automatic certification for existing associations. Provides for appeal of the Secretary's denial of certification. Requires firms to report changes in membership, export trade activities, or methods of operation to the Secretary and to apply for an amendment of their certificates. Directs the Secretary to revoke a firm's certificate if it does not comply with the requirements for an antitrust exemption or to amend such certificate so that it does comply with such requirements. Authorizes the Attorney General or the FTC to bring an action to invalidate certification. Provides for judicial review of such actions. Requires the Secretary, in consultation with the Attorney General and the FTC, to publish certification guidelines. Requires certified associations and export trading companies to submit annual reports to the Secretary. Directs the Secretary to establish within the Department of Commerce an Office of Export Trade. Requires such Office to report annually to the appropriate Congressional committees on all East-West trade transactions requiring validated licenses and on the role of U.S. export trading companies in such trade. 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. Makes the amendments of the Webb-Pomerene Act set forth in this Act effective with regard to existing associations only at such time as such associations elected to be certified.

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

Timeline

1. 12 March 1981

   Reported

   Committee on Banking ordered to be reported an original measure in lieu of S. 144.

   Source: Committee

2. 18 March 1981

   Calendars

   Placed on Senate Legislative Calendar under Regular Orders. Calendar No. 38.

   Source: Calendars

3. 18 March 1981

   Reported

   Committee on Banking reported an original measure. With written report No. 97-27.

   Source: Committee

4. 18 March 1981

   Reported

   Committee on Banking reported an original measure. With written report No. 97-27.

   Source: Committee

5. 18 March 1981

   Introduced

   Introduced in Senate

   Source: IntroReferral

6. 7 April 1981

   Floor

   Considered by Senate.

   Source: Floor

7. 8 April 1981

   Floor

   Considered by Senate.

   Source: Floor

8. 8 April 1981

   Vote

   Passed/agreed to in Senate: Passed Senate with amendments by Yea-Nay Vote. 93-0. Record Vote No: 83.

   Source: Floor

9. 27 April 1981

   Introduced

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

   Source: IntroReferral

10. 7 May 1981

    Referred

    Referred to Subcommittee on International Economic Policy and Trade.

    Source: Committee

11. 11 May 1981

    Referred

    Referred to Subcommittee on Monopolies and Commercial Law.

    Source: Committee

12. 20 May 1981

    Committee

    Subcommittee Hearings Held.

    Source: Committee

13. 11 June 1981

    Committee

    Subcommittee Hearings Held.

    Source: Committee

14. 24 June 1981

    Committee

    Subcommittee Hearings Held.

    Source: Committee

15. 27 July 1982

    Committee

    House Committee on Banking, Finance and Urban Affairs Discharged by Unanimous Consent.

    Source: Committee

16. 27 July 1982

    Discharge

    House Committee on Banking, Finance and Urban Affairs Discharged by Unanimous Consent.

    Source: Discharge

17. 27 July 1982

    ResolvingDifferences

    House Requested a Conference and Speaker Appointed Conferees: Zablocki, Bingham, Eckart, Bonker, Wolpe, Shamansky, Broomfield, Lagomarsino, Erdahl, Gilman, Fenwick, St Germain, Annunzio, Minish, LaFalce, Barnard, Stanton, Wylie,McKinney, Leach, Rodino, Seiberling, Hughes, McClory, Butler.

    Source: ResolvingDifferences

18. 27 July 1982

    ResolvingDifferences

    House Insisted on its Amendments by Unanimous Consent.

    Source: ResolvingDifferences

19. 27 July 1982

    NotUsed

    Resolving differences -- House actions: House Insisted on its Amendments by Unanimous Consent.

    Source: NotUsed

20. 27 July 1982

    Floor

    House Incorporated H.R.1799 in This Measure as an Amendment.

    Source: Floor

21. 27 July 1982

    Passed

    Passed House (Amended) by Voice Vote.

    Source: Floor

22. 27 July 1982

    Passed

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

    Source: Floor

23. 27 July 1982

    Floor

    Called up by House by Unanimous Consent.

    Source: Floor

24. 30 July 1982

    Passed

    Senate agreed to request for conference. Appointed conferees. Garn; Heinz; Armstrong; Chafee; Danforth; Riegle; Proxmire; Dodd; Dixon.

    Source: ResolvingDifferences

25. 30 July 1982

    Passed

    Senate disagreed to the House amendments. By Unanimous Consent.

    Source: Floor

26. 30 July 1982

    Passed

    Resolving differences -- Senate actions: Senate disagreed to the House amendments. By Unanimous Consent.

    Source: NotUsed

27. 27 September 1982

    ResolvingDifferences

    Conferees agreed on the banking provisions.

    Source: ResolvingDifferences

28. 29 September 1982

    Passed

    Conference committee actions: Conferees agreed to file conference report.

    Source: ResolvingDifferences

29. 29 September 1982

    ResolvingDifferences

    Conferees agreed on the Title III provisions.

    Source: ResolvingDifferences

30. 1 October 1982

    Passed

    Conference report agreed to in Senate: Senate agreed to conference report by Voice Vote.

    Source: ResolvingDifferences

31. 1 October 1982

    ResolvingDifferences

    Conference report S. Rept. 97-644 filed in Senate by Senator Garn on the disagreeing votes of the two Houses on the amendments of the House.

    Source: ResolvingDifferences

32. 1 October 1982

    Passed

    House Agreed to Conference Report by Voice Vote.

    Source: ResolvingDifferences

33. 1 October 1982

    Passed

    Conference report agreed to in House: House Agreed to Conference Report by Voice Vote.

    Source: ResolvingDifferences

34. 1 October 1982

    ResolvingDifferences

    Conference Report 97-924 Filed in House.

    Source: ResolvingDifferences

35. 1 October 1982

    ResolvingDifferences

    Conference report filed: Conference report S. Rept. 97-644 filed in Senate by Senator Garn on the disagreeing votes of the two Houses on the amendments of the House.

    Source: ResolvingDifferences

36. 5 October 1982

    Floor

    Presented to President.

    Source: Floor

37. 5 October 1982

    President

    Presented to President.

    Source: President

38. 5 October 1982

    Floor

    Measure Signed in Senate.

    Source: Floor

39. 8 October 1982

    Became law

    Became Public Law No: 97-290.

    Source: President

40. 8 October 1982

    Became law

    Signed by President.

    Source: BecameLaw

41. 8 October 1982

    President

    Signed by President.

    Source: President

Votes

Versions

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

Documents

5 official files

• Public Law (PDF)

  Public Law · EN · 9 October 1982

  ViewDownloadOpen at official source

• Conference report filed in Senate

  summary · EN · 1 October 1982

  Open at official source

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• Passed House amended

  summary · EN · 27 July 1982

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• Passed Senate amended

  summary · EN · 8 April 1981

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• Introduced in Senate

  summary · EN · 18 March 1981

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Sponsors

• Sen. Heinz, John [R-PA] · R · Sponsor
• Sen. Danforth, John C. [R-MO] · R · Sponsor
• Sen. Bentsen, Lloyd M. [D-TX] · D · Sponsor
• Sen. Tsongas, Paul E. [D-MA] · D · Sponsor
• Sen. Abdnor, James [R-SD] · R · Sponsor
• Sen. Baucus, Max [D-MT] · D · Sponsor
• Sen. Armstrong, William L. [R-CO] · R · Sponsor
• Sen. Bradley, Bill [D-NJ] · D · Sponsor
• Sen. Chafee, John H. [R-RI] · R · Sponsor
• Sen. Cochran, Thad [R-MS] · R · Sponsor
• Sen. Bumpers, Dale [D-AR] · D · Sponsor
• Sen. Cohen, William S. [R-ME] · R · Sponsor
• Sen. Dole, Robert J. [R-KS] · R · Sponsor
• Sen. Cannon, Howard W. [D-NV] · D · Sponsor
• Sen. Dixon, Alan J. [D-IL] · D · Sponsor
• Sen. Goldwater, Barry [R-AZ] · R · Sponsor
• Sen. Eagleton, Thomas F. [D-MO] · D · Sponsor
• Sen. Lugar, Richard G. [R-IN] · R · Sponsor
• Sen. Mathias, Charles McC., Jr. [R-MD] · R · Sponsor
• Sen. Huddleston, Walter (Dee) [D-KY] · D · Sponsor
• Sen. Percy, Charles H. [R-IL] · R · Sponsor
• Sen. Pressler, Larry [R-SD] · R · Sponsor
• Sen. Melcher, John [D-MT] · D · Sponsor
• Sen. Moynihan, Daniel Patrick [D-NY] · D · Sponsor
• Sen. Rudman, Warren [R-NH] · R · Sponsor
• Sen. Specter, Arlen [R-PA] · R · Sponsor
• Sen. Randolph, Jennings [D-WV] · D · Sponsor
• Sen. Riegle, Donald W., Jr. [D-MI] · D · Sponsor
• Sen. Stafford, Robert T. [R-VT] · R · Sponsor
• Sen. Weicker, Lowell P., Jr. [R-CT] · R · Sponsor
• Sen. Williams, Harrison A., Jr. [D-NJ] · D · Sponsor
• Sen. Leahy, Patrick J. [D-VT] · D · Sponsor
• Sen. D'Amato, Alfonse [R-NY] · R · Sponsor
• Sen. Hayakawa, Samuel Ichiye [R-CA] · R · Sponsor
• Sen. Boschwitz, Rudy [R-MN] · R · Sponsor
• Sen. Inouye, Daniel K. [D-HI] · D · Sponsor
• Sen. Cranston, Alan [D-CA] · D · Sponsor
• Sen. Glenn, John H., Jr. [D-OH] · D · Sponsor
• Sen. Schmitt, Harrison H. [R-NM] · R · Sponsor
• Sen. Mitchell, George J. [D-ME] · D · Cosponsor
• Sen. Levin, Carl [D-MI] · D · Cosponsor
• Sen. DeConcini, Dennis [D-AZ] · D · Cosponsor
• · hsju00 · Standing
• · hsfa00 · Standing
• · hsba00 · Standing
• · ssbk00 · Standing

Related records

• related to → Export Trading Company Act of 1982
• related to → Bank Export Services Act
• related to → A 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.
• amends ← To establish an International Antitrust Task Force.
• amends ← To express the sense of the Senate with respect to the decontrol of natural gas prices.
• amends ← To recognize the importance of agricultural exports.
• amends ← To strike out section 106.
• amends ← To strike section 108.
• amends ← To make technical changes.
• amends ← To add a new section 106 to the bill in lieu of the material proposed to be stricken by the Proxmire amendment SU 61.

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