Full Bill Text

Vote Smart's Synopsis:

Vote to pass a bill that reauthorizes the Export-Import Bank for fiscal years 2012 through 2014.

Highlights:

• Reauthorizes the Export-Import Bank until the end of fiscal year 2014, whereas existing law authorized the Bank until the end of fiscal year 2011 (Sec. 2).

• Increases the lending limit for the Export-Import Bank from $100 billion to $120 billion for fiscal year 2012 and subsequent fiscal years (Sec. 3).

• Increases the lending limit from $120 billion to $130 billion for fiscal year 2013 if the Export-Import Bank meets the following requirements (Secs. 3 & 4):
• Maintains a default rate of less than 2 percent each quarter; and
• Submits a report to Congress by June 1, 2013 that contains all of the following:
• A business plan;
• An analysis of risk;
• An analysis of the Bank's ability to meet its requirements concerning small businesses and sub-Saharan Africa;
• An analysis of the Bank's ability to comply with carbon policies; and
• An analysis of the Bank's resources, and whether or not those resources are adequate to process, approve, and monitor loan authorizations.

• Increases the lending limit to from $120 billion to $140 billion for fiscal year 2014 if the Export-Import Bank meets the following requirements (Secs. 3 & 5):
• Maintains a default rate of less than 2 percent each quarter; and
• Submits a report to Congress within 10 months of the enactment date of this bill that contains certain items including, but not limited to, the following:
• Evaluates the history of the Bank's growth;
• Evaluates the “effectiveness” of the Bank's risk management policies; and
• Documents the Bank's fees for products and services; and
• Evaluates the adequacy of the Bank's loan loss reserves.

• Prohibits the Board of Directors of the Export-Import Bank from approving any transaction with a person who exports any goods or services to Iran, unless the person certifies that he or she does not engage in business transactions with Iran, effective 180 days after the enactment date of this bill (Sec. 18).

• Requires the Export-Import Bank to submit a plan to reduce default rates if the rate for any quarter is more than 2 percent  (Sec. 6).

• Requires the Secretary of the Treasury to establish negotiations with other exporting countries, including members and non-members of the Organization for Economic Co-operation and Development (OECD) to reduce and eventually eliminate export subsidies (Sec. 11).

Full Bill Text

Vote Smart's Synopsis:

Vote to pass a bill that reauthorizes the Export-Import Bank for fiscal years 2012 through 2014.

Highlights:

• Reauthorizes the Export-Import Bank until the end of fiscal year 2014, whereas existing law authorized the Bank until the end of fiscal year 2011 (Sec. 2).

• Increases the lending limit for the Export-Import Bank from $100 billion to $120 billion for fiscal year 2012 and subsequent fiscal years (Sec. 3).

• Increases the lending limit from $120 billion to $130 billion for fiscal year 2013 if the Export-Import Bank meets the following requirements (Secs. 3 & 4):
• Maintains a default rate of less than 2 percent each quarter; and
• Submits a report to Congress by June 1, 2013 that contains all of the following:
• A business plan;
• An analysis of risk;
• An analysis of the Bank's ability to meet its requirements concerning small businesses and sub-Saharan Africa;
• An analysis of the Bank's ability to comply with carbon policies; and
• An analysis of the Bank's resources, and whether or not those resources are adequate to process, approve, and monitor loan authorizations.

• Increases the lending limit to from $120 billion to $140 billion for fiscal year 2014 if the Export-Import Bank meets the following requirements (Secs. 3 & 5):
• Maintains a default rate of less than 2 percent each quarter; and
• Submits a report to Congress within 10 months of the enactment date of this bill that contains certain items including, but not limited to, the following:
• Evaluates the history of the Bank's growth;
• Evaluates the “effectiveness” of the Bank's risk management policies; and
• Documents the Bank's fees for products and services; and
• Evaluates the adequacy of the Bank's loan loss reserves.

• Prohibits the Board of Directors of the Export-Import Bank from approving any transaction with a person who exports any goods or services to Iran, unless the person certifies that he or she does not engage in business transactions with Iran, effective 180 days after the enactment date of this bill (Sec. 18).

• Requires the Export-Import Bank to submit a plan to reduce default rates if the rate for any quarter is more than 2 percent  (Sec. 6).

• Requires the Secretary of the Treasury to establish negotiations with other exporting countries, including members and non-members of the Organization for Economic Co-operation and Development (OECD) to reduce and eventually eliminate export subsidies (Sec. 11).

Full Bill Text

Full Bill Text