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HR 2842 98th Congress House Foreign Trade and International Finance Business and commerce Congress and Members of Congress Congressional oversight Credit Department of the Treasury Export credit Export-Import Bank of the United States Federal advisory bodies Finance and Financial Sector Foreign Trade and Investments Government Operations and Politics Government trust funds International Affairs International banking Small business Terrorism

Export-Import Bank Act Amendments of 1983

Introduced: April 28, 1983 See on congress.gov
 Everywhere this bill has been 11 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Nov 30, 1983
Similar Provisions Contained in H.R.3959.
Jun 29, 1983
Rules Committee Resolution H.Res.252 Reported to House.
Jun 28, 1983
Rule Granted Providing an Open Rule with 1 Hour of Debate. Waiver of Points of Order.
May 16, 1983
Reported to House (Amended) by House Committee on Banking, Finance and Urban Affairs. Report No: 98-176.
May 16, 1983
Placed on Union Calendar No: 114.
May 5, 1983
Ordered to be Reported (Amended).
May 5, 1983
Committee Consideration and Mark-up Session Held.
May 2, 1983
Referred to Subcommittee on International Trade, Investment and Monetary Policy.
Apr 28, 1983
Introduced in House
Apr 28, 1983
For Previous Action See H.R.2541.
Apr 28, 1983
Referred to House Committee on Banking, Finance and Urban Affairs.
 Plain-English summary Congressional Research Service

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.

What's happening now November 30, 1983

Similar Provisions Contained in H.R.3959.

 Committees of jurisdiction 2