Sec. 19. USE OF PORTION OF BANK SURPLUS TO UPDATE INFORMATION TECHNOLOGY SYSTEMS
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## SEC. 19 USE OF PORTION OF BANK SURPLUS TO UPDATE INFORMATION TECHNOLOGY SYSTEMS Section 3 of the Export-Import Bank Act of 1945 (12 U.S.C. 635a) is amended by adding at the end the following: > > ### “(j) Authority to Use Portion of Bank Surplus to Update Information Technology Systems > > > #### “(1) In general > > Subject to paragraphs
(3)and (4), the Bank may use an amount equal to 1.25 percent of the surplus of the Bank during fiscal years 2012, 2013, and 2014 to— > > > ##### “(A) > > seek to remedy any of the operational weakness and risk management vulnerabilities of the Bank which are the result of the information technology system of the Bank; > > > ##### “(B) > > remedy data fragmentation, enhance information flow throughout the Bank, and manage data across the Bank; and > > > ##### “(C) > > enhance the operational capacity and risk management capabilities of the Bank to better enable the Bank to increase exports and grow jobs while protecting the taxpayer. > > > #### “(2) Surplus > > In paragraph (1), the term ‘surplus’ means the amount (if any) by which— > > > ##### “(A) > > the sum of the interest and fees collected by the Bank; exceeds > > > ##### “(B) > > the sum of— > > > ##### “(I) > > the funds set aside to cover expected losses on transactions financed by the Bank; and > > > ###### “(ii) > > the costs incurred to cover the administrative expenses of the Bank. > > > #### “(3) Limitation > > The aggregate of the amounts used in accordance with paragraph
(1)for fiscal years 2012, 2013, and 2014 shall not exceed $20,000,000. > > > #### “(4) Subject to appropriations > > 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. 19
USE OF PORTION OF BANK SURPLUS TO UPDATE INFORMATION TECHNOLOGY SYSTEMS
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