Sec. 17. Authority of the United States Export Finance Agency to use 3 percent of its profits for administrative expenses
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3 percent of its profits for administrative expenses Section 3 of the Export-Import Bank Act of 1945 ( 12 U.S.C. 635a ), as amended by the preceding provisions of this Act, is amended by adding at the end the following: Subject to paragraph (2), in addition to any other amounts that the Agency may use to cover administrative expenses of the Agency, the Agency may use not more than 3 percent of the surplus (as defined in subsection (j)(2), without regard to subparagraph (B)(ii) of such subsection) of the Agency, for each fiscal year in the 5-year period beginning with the date of the enactment of this paragraph, to cover administrative expenses of the Agency.
Of the amount of the surplus which may be used as provided in subparagraph (A), the Agency shall use at least one-third to expand or establish regional offices of the Agency. The authority provided by paragraph
(1)may be exercised only to such extent and in such amounts as are provided in advance in appropriations Acts. .
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Sec. 17
Authority of the United States Export Finance Agency to use 3 percent of its profits for administrative expenses
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