Sec. 2. Limitation on support for deals with Chinese state-owned enterprises
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Section 408 of division I of the Further Consolidated Appropriations Act, 2020 ( 12 U.S.C. 635 note; Public Law 116–94 ) is amended to read as follows: The Export-Import Bank of the United States (in this section referred to as the Bank ) shall not guarantee, insure, or extend (or participate in the extension of) credit for which the end user, lender, or obligor is the government of the People’s Republic of China, except that the Bank may provide a working capital guarantee or export credit insurance to a United States exporter.
In the case of such a transaction that involves an amount greater than or equal to $25,000,000, the Bank may provide a working capital guarantee or export credit insurance to a United States exporter with respect to such an export if the Bank obtains from the President of the United States, who may consult with the Secretary of State, the Secretary of the Treasury, the Secretary of Commerce, the Secretary of Defense, the United States Trade Representative, and the heads of other interested Executive agencies, a determination that the provision of the guarantee or insurance would not violate the national security interests of the United States.
Before providing a working capital guarantee or export credit insurance to a United States exporter in a transaction involving an amount equal to or greater than $25,000,000, pursuant to subsection (a), the President of the Bank shall— report to the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate that the Bank has obtained from the President of the United States and any other relevant department or agency, as deemed appropriate by the President of the United States, a determination that the provision of the guarantee or insurance would not violate the national security interests of the United States; include a verification from the Bank that the transaction does not violate any export law of the United States; and include a summary of the transaction and the consultation.
The report described in paragraph
(1)shall be submitted in unclassified form but may include a classified annex. In this section, the term government of the People’s Republic of China means any person that the Bank has reason to believe is— the state and the government of the People’s Republic of China, including any political subdivision, agency, or instrumentality thereof; any entity controlled, directly or indirectly, by any of the foregoing, including any partnership, association, or other entity in which any of the foregoing owns a 50 percent or greater interest or a controlling interest, and any entity which is otherwise controlled by any of the foregoing; any person that is or has been acting or purporting to act, directly or indirectly, for or on behalf of any of the foregoing; and any other person that the Secretary of the Treasury has notified the Bank is included in any of the foregoing. .
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Sec. 2
Limitation on support for deals with Chinese state-owned enterprises
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