Sec. 15. Modification of powers and functions of the Export-Import Bank of the United States
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Section 2(b)(5) of the Export-Import Bank Act of 1945 ( 12 U.S.C. 635(b)(5) ) is amended, in the first sentence, by striking any liquid metal fast breeder nuclear reactor or . Section 2(l) of the Export-Import Bank Act of 1945 ( 12 U.S.C. 635(l) ) is amended— in the subsection heading, by striking ; China and in paragraph (1)— in the matter preceding subparagraph (A)— by striking The Bank shall establish a Program on China and and inserting Notwithstanding the Arrangement, the Bank shall establish a Program on ; by striking conditions, and inserting conditions that, in the judgement of the Board of Directors of the Bank, offer sufficient likelihood of repayment to justify the loan, guarantee, or insurance, as applicable, ; and by striking by the People’s Republic of China or ; in subparagraph (A), by striking by the People’s Republic of China or ; and in subparagraph (B)— in the matter preceding clause (i), by striking the People’s Republic of China and inserting covered countries ; by redesignating clauses
(viii)through
(xi)as clauses
(ix)through (xii), respectively; and by inserting after clause
(vii)the following: Civil nuclear facilities, material, technologies, and related goods and services that support the development of an effective nuclear energy sector. ; by striking paragraph (2); by redesignating paragraph
(3)as paragraph (2); in paragraph (2), as so redesignated— in subparagraph (A), by striking China and ; in subparagraph (B)— in the matter preceding clause (i), by striking the People’s Republic of China is and inserting the People’s Republic of China and the Russian Federation are ; and in clause (i), by striking ; and and inserting ; or ; in subparagraph (C)— in the subparagraph heading, by striking ; Sunset and by striking the first sentence; and by striking 4 years after enactment of this subsection and inserting December 20, 2023 ; and in subparagraph (D), by striking China and ; and by adding at the end the following: The Program on Transformational Exports shall expire on December 31, 2026. In this subsection: The term Arrangement means the Arrangement on Officially Supported Export Credits of the Organization for Economic Cooperation and Development. The term covered country means— the People’s Republic of China; the Russian Federation; or any country that— the Secretary of the Treasury designates as a covered country in a report to the Committee on Banking, Housing, and Urban Development of the Senate and the Committee on Financial Services of the House of Representatives; is not a participant in the Arrangement; and is not in substantial compliance with the financial terms and conditions of the Arrangement. . Section 8(l) of the Export-Import Bank Act of 1945 ( 12 U.S.C. 635g(l) ) is amended— in the subsection heading, by striking and all that follows through Under the and inserting Exports ; and Under the Program on Transformational Exports by striking China and . Section 408 of title IV of division I of the Further Consolidated Appropriations Act, 2020 ( Public Law 116–94 ; 12 U.S.C. 635 note) is amended— in the section heading, by striking and inserting China ; the People’s Republic of China and the Russian Federation in subsection (a), in the matter preceding paragraph (1), by striking the government of China and inserting the Government of the People’s Republic of China or the Government of the Russian Federation ; in subsection (c)(1)(C), by striking the government of China and inserting the Government of the People’s Republic of China or the Government of the Russian Federation ; by striking subsection
(d)and inserting the following: 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, as well as 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 which the Secretary of the Treasury has notified the Bank is included in any of the foregoing. The term Government of the Russian Federation means any person that the Bank has reason to believe is— the state and the Government of the Russian Federation, as well as 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 which the Secretary of the Treasury has notified the Bank is included in any of the foregoing. ; and in subsection (e)(2), in the matter preceding subparagraph (A), by striking China is and inserting the People’s Republic of China and the Russian Federation are .
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Sec. 15
Modification of powers and functions of the Export-Import Bank of the United States
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