Vote Smart's Synopsis:

Vote to pass a bill that amends and reauthorizes the United States Export Finance Agency.

Highlights:

• Amends the name of the Export-Import Bank of the United States to the United States Export Finance Agency (Sec. 3).

• Expands the authorization period of the Agency, established within the Export-Import Bank Act of 1945, from 2019 to 2029 (Sec. 4).

• Appropriates the following amounts to the Agency (Sec. 5):

• $145 billion for the fiscal year 2020;

• $150 billion for the fiscal year 2021;

• $155 billion for the fiscal year 2022;

• $160 billion for the fiscal year 2023;

• $165 billion for the fiscal year 2024;

• $170 billion for the fiscal year 2025; and 

• $175 billion for each fiscal year between 2026-2029.

• Prohibits the Agency Board of Directors from approving a transaction of any guarantee, insurance, or extension of credit, or the participation by the Agency in any extension of credit for which the end-user, obligor or lender is described below, beginning 180 days after the enactment of this act (Sec. 11):

• The People’s Liberation Army of the People’s Republic of China;

• The Ministry of State Security of the People’s Republic of China;

• Any person included on the Denied Persons List or the Entity List maintained by the Bureau of Industry and Security within the Department of Commerce;

• Any person included on the Arms Export Control Act debarred list maintained by the Directorate of Defense Trade Controls within the Department of State;

• Any person who has paid a criminal fine or penalty for a conviction, resolution or settlement agreement with the Department of Justice for a violation of the Foreign Corrupt Practices Act in the preceding 3 years; or

• Any person who, in the preceding 3 years, has appeared on the Annual Intellectual Property Report to Congress by the Intellectual Property Enforcement Coordinator within the Executive Office of the President, if the person was convicted in any court. 

• Prohibits the Agency Board of Directors from approving a transaction of any guarantee, insurance, or extension of credit, or the participation by the Agency in any extension of credit, to a person in connection with the exportation of any good or service unless the person provides the necessary certification, beginning 180 days after the enactment of this act (Sec. 12).

• Specifies that the above-mentioned certification must be by an end-user, obligor, or lender that neither they, nor any other person controlled by them, engages in any activity in contravention of any US law, regulation, or order concerning the following (Sec. 12):

• Trade and economic sanctions, including an embargo;

• The freezing or blocking of assets of designated persons;

• Sanctions relating to violations of human rights or free speech, including any sanctions:

• Imposed under the Global Magnitsky Human Rights Accountability Act;

• Related to the efforts of the Chinese government to limit or punish demonstrations in Hong Kong;

• Related to the political repression or detention of religious or ethnic minorities in China or Burma; or

• Related to the gross violation of internationally recognized human rights, as described in the Foreign Assistance Act, in China;

• Sanctions relating to the illegal trafficking of synthetic opioids;

• Sanctions relating to human rights abuses; or 

• Other restrictions on exports, investment, payments, or other transactions targeted at particular persons or countries.

• Requires the president of the Agency to establish an Office of Territorial Exporting and specifies that the functions of this office will be to (Sec. 7):

• Promote the export of goods and services from US territories;

• Conduct outreach and education, and disseminate information concerning export opportunities and the availability of Agency support for such activities; and

• Increase the total amount of loans, guarantees, and insurance provided by the Agency benefitting the territories.

• Requires the Agency to establish an Office of Minority and Women Inclusion which will be responsible for carrying out all matters relating to diversity in management, employment, and business activities in accordance with standards and requirements, as established by the director of the office (Sec. 6).

• Requires the Agency to train its employees at least every 2 years regarding inclusion and diversity to ensure employees have an understanding of the specific challenges facing minority-owned and women-owned businesses (Sec. 6).

Full Bill Text

Full Bill Text