,i #aafth ,,congress #ast ,session ,h4 ,r4 #cdjg ,,in ,,the ,,house ,,of ,,representatives ,june #ba1 #bjai,ms4 ,waters 7for herself and ,mr4 ,mc,henry7 introduced the following bill2 which was referred to the ,committee on ,financial ,services ,a ,,bill ,to strengthen the competitiveness of the ,united ,states1 to modernize and reform the ,united ,states ,export ,finance ,agency1 and for other purposes4 #a4 ,short title ,this ,act may be cited as the ,united ,states ,export ,finance ,agency ,act of #bjai4 #b4 ,table of contents ,the table of contents of this ,act is as follows3 ,sec4 #a4 ,short title4 ,sec4 #b4 ,table of contents4 ,sec4 #c4 ,findings4 ,sec4 #d4 ,renaming of the ,export-,import ,bank of the ,united ,states4 ,title ,i--,promoting ,united ,states leadership and innovation ,sec4 #aja4 ,authorization period4 ,sec4 #ajb4 ,aggregate loan1 guarantee1 and insurance authority4 ,sec4 #ajc4 ,program on ,china and transformational exports4 ,sec4 #ajd4 ,strengthening support for ,u4,s4 small businesses4 ,sec4 #aje4 ,office of ,minority and ,women ,inclusion4 ,sec4 #ajf4 ,support for ,united ,states territories4 ,sec4 #ajg4 ,promoting renewable energy exports4 ,sec4 #ajh4 ,alternative procedures during quorum lapse4 ,sec4 #aji4 ,information technology systems4 ,sec4 #aaj4 ,administratively determined pay4 ,sec4 #aaa4 ,survey on blockchain use in the operations of ,united ,states exporters4 ,title ,,ii--,improving ,agency operations and enhancing transparency and accountability ,sec4 #bja4 ,annual testimony4 ,sec4 #bjb4 ,independent audit of regional export finance centers4 ,sec4 #bjc4 ,risk ,management ,committee4 ,sec4 #bjd4 ,ensuring ,agency compliance with additionality requirements4 ,sec4 #bje4 ,reinsurance program4 ,sec4 #bjf4 ,report on new ,agency policies1 procedures1 and bylaws4 ,sec4 #bjg4 ,report on travel practices of ,agency employees4 ,sec4 #bjh4 ,report on steps taken to correct deficiencies related to information security4 ,sec4 #bji4 ,additional requirements involving certain transactions4 ,sec4 #baj4 ,anti-fraud reforms4 ,title ,,iii--,foreign policy considerations ,sec4 #cja4 ,chinese government-owned enterprises4 ,sec4 #cjb4 ,international negotiations on export subsidies4 ,sec4 #cjc4 ,prohibition on financing for exports involving state sponsors of terrorism4 ,title ,,iv--,miscellaneous provisions ,sec4 #dja4 ,miscellaneous updates relating to the ,united ,states ,export ,finance ,agency4 ,sec4 #djb4 ,prohibition on financing for certain aviation-related vehicles4 #c4 ,findings ,the ,congress finds as follows3 7#a7 ,the ,export-,import ,bank of the ,united ,states 7,,exim7--the official export credit agency of the ,united ,states--is designed to help create and support ,u4,s4 jobs by providing ,american exporters with the financing tools necessary to compete in the global markets4 7#b7 ,over its #he-year history1 under both ,republican and ,democratic administrations1 the ,export-,import ,bank of the ,united ,states has been reauthorized #ag times with large bipartisan majorities in ,congress4 7#c7 ,over the last #aj years1 the ,export-,import ,bank of the ,united ,states has financed more than #ahf1jjj1jjj1jjj in authorizations supporting more than #bee1jjj1jjj1jjj in ,united ,states exports and supported #a1fjj1jjj ,united ,states jobs in all #ej states2 in fiscal year #bjah1 ,,exim authorized #c1cjj1jjj1jjj in financing and supported an estimated #cc1jjj ,united ,states jobs4 7#d7 ,by its charter1 it is the policy of the ,united ,states that the ,export-,import ,bank of the ,united ,states should not compete with the private sector1 but rather to fill export financing gaps through its insurance1 loan guarantee1 and direct lending programs when the private sector is unable or unwilling to do so4 7#e7 ,with more than #ajj export credit agencies globally1 the ,export-,import ,bank of the ,united ,states1 if appropriately utilized1 can level the playing field to ensure that ,united ,states companies will not lose out on a sale of ,united ,states exports because of financing terms offered by foreign governments4 7#f7 ,in fiscal year #bjah1 #ij4e percent of the ,export-,import ,bank of the ,united ,states' authorizations directly supported small businesses1 including #cae small businesses that used the ,export-,import ,bank of the ,united ,states for the first time4 7#g7 ,in fiscal year #bjad1 when the ,export-,import ,bank of the ,united ,states was last fully operational1 ,,exim authorized #gea1jjj1jjj to support minority- and women-owned business exports4 7#h7 ,in fiscal year #bjah1 the ,export-,import ,bank of the ,united ,states approved #dea1djj1jjj in support of minority- or woman-owned businesses1 which accounted for #ba percent of total small business authorizations4 7#i7 ,the charter of the ,export-,import ,bank of the ,united ,states requires the ,bank to lend only if there exists reasonable assurance that it will be repaid1 and ,congress subjects ,,exim to statutory restrictions and oversight to safeguard its fiscal soundness1 limit mismanagement1 and prevent corruption4 7#aj7 ,,exim was last reauthorized in ,december #bjae1 and its charter expires ,september #cj1 #bjai4 7#aa7 ,despite bicameral support for the ,bank's reauthorization in #bjae1 the ,senate did not confirm the directors of ,,exim until ,may #bjai4 ,as a result1 the ,bank did not have a quorum and could not approve transactions over #aj1jjj1jjj4 #d4 ,renaming of the ,export-,import ,bank of the ,united ,states 7a7 ,in general ,the ,export-,import ,bank of the ,united ,states is hereby redesignated as the ,united ,states ,export ,finance ,agency4 7b7 ,references ,any reference to the ,export-,import ,bank of the ,united ,states in any law1 rule1 regulation1 certificate1 directive1 instruction1 or other official paper in force on the date of the enactment of this ,act shall be considered to refer and apply to the ,united ,states ,export ,finance ,agency4 ,i ,promoting ,united ,states leadership and innovation #aja4 ,authorization period ,section #g of the ,export-,import ,bank ,act of #aide 7#ab ,u4,s4,c4 #fce;f7 is amended by striking #bjai and inserting #bjbf4 #ajb4 ,aggregate loan1 guarantee1 and insurance authority ,section #f7;a77#b7 of the ,export-,import ,bank ,act of #aide 7#ab ,u4,s4,c4 #fce;e7a77#b77 is amended to read as follows3 7#b7 ,applicable amount defined ,in this subsection1 the term applicable amount means-- 7,a7 #ade1jjj1jjj1jjj for fiscal year #bjbj2 7,b7 #aej1jjj1jjj1jjj for fiscal year #bjba2 7,c7 #aee1jjj1jjj1jjj for fiscal year #bjbb2 7,d7 #afj1jjj1jjj1jjj for fiscal year #bjbc2 7,e7 #afe1jjj1jjj1jjj for fiscal year #bjbd2 7,f7 #agj1jjj1jjj1jjj for fiscal year #bjbe2 and 7,g7 #age1jjj1jjj1jjj for fiscal year #bjbf4 4 #ajc4 ,program on ,china and transformational exports 7a7 ,in general ,section #b of the ,export-,import ,bank ,act of #aide 7#ab ,u4,s4,c4 #fce7 is amended by adding at the end the following3 7l7 ,program on china and transformational exports 7#a7 ,in general ,the ,agency shall establish a ,program on ,china and ,transformational ,exports to support the extension of loans1 guarantees1 and insurance1 at rates and on terms and other conditions1 to the extent practicable1 that are fully competitive with rates1 terms1 and other conditions established by the ,people's ,republic of ,china or by a covered country1 that aim to-- 7,a7 directly neutralize export subsidies for competing goods and services financed by official export credit1 tied aid1 or blended financing provided by the ,people's ,republic of ,china or by a covered country2 or 7,b7 advance the comparative leadership of the ,united ,states with respect to the ,people's ,republic of ,china1 or support ,united ,states innovation1 employment1 and technological standards1 through direct exports in any of the following areas3 7i7 ,artificial intelligence4 7ii7 ,biotechnology4 7iii7 ,biomedical sciences4 7iv7 ,wireless communications equipment 7including #e;,g or subsequent wireless technologies74 7v7 ,quantum computing4 7vi7 ,renewable energy1 energy efficiency1 and energy storage4 7vii7 ,semiconductor and semiconductor machinery manufacturing4 7viii7 ,emerging financial technologies1 including technologies that facilitate-- 7,i7 financial inclusion through increased access to capital and financial services2 7,,ii7 data security and privacy2 7,,iii7 payments1 the transfer of funds1 and associated messaging services2 and 7,,iv7 efforts to combat money laundering and the financing of terrorism4 7ix7 ,associated services necessary for use of any of the foregoing exports4 7#b7 ,covered countries ,in this subsection1 the term covered country means any country that-- 7,a7 the ,secretary of the ,treasury designates as a covered country in a report to the ,committee on ,financial ,services of the ,house of ,representatives and the ,committee on ,banking1 ,housing1 and ,urban ,development of the ,senate2 and 7,b7 is not a participant in the ,arrangement on ,officially ,supported ,export ,credits of the ,organization for ,economic ,cooperation and ,development 7in this subsection referred to as the ,arrangement72 and 7,c7 is not in substantial compliance with the financial terms and conditions of the ,arrangement4 7#c7 ,financing 7,a7 ,in general ,it shall be a goal of the ,agency to reserve not less than #bj percent of the applicable amount 7as defined in section #f7;a77#b77 for support made pursuant to the ,program on ,china and ,transformational ,exports4 7,b7 ,exception ,the ,secretary of the ,treasury may reduce or eliminate the #bj percent goal in subparagraph 7,a71 on reporting to the ,committee on ,financial ,services of the ,house of ,representatives and the ,committee on ,banking1 ,housing1 and ,urban ,affairs of the ,senate that the ,people's ,republic of ,china is in substantial compliance with-- 7i7 the financial terms and conditions of the ,arrangement2 and 7ii7 the rules and principles of the ,paris ,club4 7,c7 ,sunset and report ,the program established under paragraph 7#a7 shall expire on ,september #cj1 #bjbf4 ,not later than #d years after enactment of this subsection1 the ,president of the ,agency shall submit a report to the ,committee on ,financial ,services of the ,house of ,representatives and the ,committee on ,banking1 ,housing1 and ,urban ,affairs of the ,senate assessing the following3 7i7 ,the capacity and demand of ,united ,states entities to export goods and services in the areas described in paragraph 7#a77;,b7 in consultation with the ,secretary of ,commerce4 7ii7 ,the availability of private-sector financing for exports in the areas4 7iii7 ,the feasibility and advisability of continuing the goal of subparagraph 7,a7 of this paragraph with respect to paragraph 7#a77;,b7 after ,september #cj1 #bjbf4 7,d7 ,national advisory council on international financial and monetary problems ,the ,national ,advisory ,council on ,international ,financial and ,monetary ,problems shall ensure that ,agency authorizations pursuant to the ,program on ,china and ,transformational ,exports are considered or reviewed expeditiously1 consistent with the other credit standards required by law4 4 7b7 ,required reporting ,section #h of such ,act 7#ab ,u4,s4,c4 #fce;g7 is amended by adding at the end the following3 7l7 ,report on authorizations under the program on china and transformational exports ,the ,agency shall include in its annual report to ,congress under subsection 7a7 a narrative and financial summary of the authorizations made under the ,program on ,china and ,transformational ,exports4 4 7c7 ,rule of construction ,nothing in section #b7l77#a77;,b7 of the ,export-,import ,bank ,act of #aide shall be construed to weaken any export controls affecting critical technologies 7as defined in section #gba7;a77#f77;,a7 of the ,defense ,production ,act of #aiej 7#ej ,u4,s4,c4 #defe7;a77#f77;,a7774 #ajd4 ,strengthening support for ,u4,s4 small businesses 7a7 ,increasing small business threshold ,section #b7;b77#a77;,e77v7 of the ,export-,import ,bank ,act of #aide 7#ab ,u4,s4,c4 #fce7;b77#a77;,e77v77 is amended-- 7#a7 by striking #be percent of such authority for each fiscal year and inserting #be percent of such authority for each of fiscal years #bjbj1 #bjba1 and #bjbb1 and #cj percent of such authority for each fiscal year thereafter2 and 7#b7 by adding at the end the following3 ,for the purpose of calculating the amounts of authority required under this clause1 the ,agency shall1 with respect to insurance1 exclude unutilized authorizations that terminated during the fiscal year44 7b7 ,small business policy ,section #b7;b77#a77;,e77i77,i7 of such ,act 7#ab ,u4,s4,c4 #fce7;b77#a77;,e77i77,i77 is amended to read as follows3 7,i7 ,it is further the policy of the ,united ,states to encourage the participation of small business 7including women-owned businesses1 minority- owned businesses1 veteran-owned businesses1 businesses owned by persons with disabilities1 and businesses in rural areas7 and start-up businesses in international commerce1 and to educate the public about how to export goods using the ,united ,states ,export ,finance ,agency4 4 #aje4 ,office of ,minority and ,women ,inclusion 7a7 ,in general ,section #c7;i7 of the ,export-,import ,bank ,act of #aide 7#ab ,u4,s4,c4 #fce;a7i77 is amended to read as follows3 7i7 ,office of minority and women inclusion 7#a7 ,establishment ,the ,agency shall establish an ,office of ,minority and ,women ,inclusion which shall be responsible for carrying out this subsection and all matters relating to diversity in management1 employment1 and business activities in accordance with such standards and requirements as the ,director of the ,office shall establish4 7#b7 ,transfer of responsibilities ,the ,agency shall ensure that1 to the extent that the responsibilities described in paragraph 7#a7 7or comparable responsibilities7 were1 as of the date of the enactment of this subsection1 performed by another office of the ,agency1 the responsibilities shall be transferred to the ,office4 7#c7 ,duties with respect to civil rights laws ,the responsibilities described in paragraph 7#a7 shall not include enforcement of statutes1 regulations1 or executive orders pertaining to civil rights1 except that the ,director of the ,office shall coordinate with the ,president of the ,agency1 or the designee of the ,president of the ,agency1 regarding the design and implementation of any remedies resulting from violations of the statutes1 regulations1 or executive orders4 7#d7 ,director 7,a7 ,in general ,the ,director of the ,office shall be appointed by1 and shall report directly to1 the ,president of the ,agency4 ,the position of ,director of the ,office shall be a career reserved position in the ,senior ,executive ,service1 as that position is defined in section #cacb of title #e1 ,united ,states ,code1 or an equivalent designation4 7,b7 ,duties ,the ,director shall-- 7i7 develop standards for equal employment opportunity and the racial1 ethnic1 and gender diversity of the workforce and senior management of the ,agency2 7ii7 develop standards for increased participation of minority-owned and women-owned businesses in the programs and contracts of the ,agency1 including standards for coordinating technical assistance to the businesses2 and 7iii7 enhance the outreach activities of the ,agency with respect to1 and increase the total amount of loans1 guarantees1 and insurance provided by the ,agency to support exports by socially and economically disadvantaged small business concerns 7as defined in section #h7;a77#d7 of the ,small ,business ,act7 and small business concerns owned by women4 7,c7 ,other duties ,the ,director shall advise the ,president of the ,agency on the impact of the policies of the ,agency on minority-owned and women-owned businesses4 7#e7 ,inclusion in all levels of business activities 7,a7 ,contracts ,the ,director of the ,office shall develop and implement standards and procedures to ensure1 to the maximum extent possible1 the inclusion and utilization of minorities 7as defined in section #abjd7;c7 of the ,financial ,institutions ,reform1 ,recovery1 and ,enforcement ,act of #aihi 7#ab ,u4,s4,c4 #ahaa note77 and women1 and minority- and women-owned businesses 7as such terms are defined in section #ba;,a7r77#d7 of the ,federal ,home ,loan ,bank ,act 7#ab ,u4,s4,c4 #adda;a7r77#d77 in all business and activities of the ,agency at all levels1 including in procurement1 insurance1 and all types of contracts4 ,the processes established by the ,agency for review and evaluation for contract proposals and to hire service providers shall include a component that gives consideration to the diversity of the applicant4 7,b7 ,applicability ,this subsection shall apply to all contracts for services of any kind1 including all contracts for all business and activities of the ,agency1 at all levels4 7,c7 ,outreach ,the ,agency shall establish a minority outreach program to ensure the inclusion 7to the maximum extent possible7 in contracts entered into by the enterprises of minorities and women and businesses owned by minorities and women1 including financial institutions1 investment banking firms1 underwriters1 accountants1 brokers1 and providers of legal services4 7#f7 ,diversity in agency workforce ,the ,agency shall take affirmative steps to seek diversity in its workforce at all levels of the ,agency consistent with the demographic diversity of the ,united ,states1 in a manner consistent with applicable law1 including-- 7,a7 to the extent the ,agency engages in recruitment efforts to fill vacancies-- 7i7 recruiting at historically ,black colleges and universities1 ,hispanic-serving institutions1 women's colleges1 and colleges that typically serve majority minority populations2 and 7ii7 recruiting at job fairs in urban communities1 and placing employment advertisements in newspapers and magazines oriented toward women and people of color2 7,b7 partnering with organizations that are focused on developing opportunities for minorities and women to place talented young minorities and women in industry internships1 summer employment1 and full-time positions2 and 7,c7 by use of any other mass media communications that the ,director of the ,office determines necessary4 4 7b7 ,inclusion in annual report ,section #h of such ,act 7#ab ,u4,s4,c4 #fce;g71 as amended by section #ajc7;b7 of this ,act1 is amended by adding at the end the following3 7m7 ,office of ,minority and ,women ,inclusion ,the ,agency shall include in its annual report to the ,congress under subsection 7a7 a report from the ,office of ,minority and ,women ,inclusion regarding the actions taken by the ,agency and the ,office pursuant to section #c7;i71 which shall include-- 7#a7 a statement of the total amounts paid by the ,agency to contractors since the most recent report under this subsection2 7#b7 the percentage of the amounts described in paragraph 7#a7 that were paid to contractors as described in section #c7;i77#e77;,a72 7#c7 the successes achieved and challenges faced by the ,agency in operating minority and women outreach programs2 7#d7 the challenges the ,agency may face in hiring qualified minority and women employees and contracting with qualified minority-owned and women-owned businesses2 and 7#e7 any other information1 findings1 conclusions1 and recommendations for legislative or ,agency action1 as the ,director of the ,office deems appropriate4 4 #ajf4 ,support for ,united ,states territories 7a7 ,creation of the ,office of ,territorial ,exporting ,section #c of the ,export-,import ,bank ,act of #aide 7#ab ,u4,s4,c4 #fce;a7 is amended by adding at the end the following3 7n7 ,office of territorial exporting ,the ,president of the ,agency shall establish an ,office of ,territorial ,exporting1 and shall hire such staff as may be necessary1 including at least #a staffer responsible for liaising with ,puerto ,rico1 to perform the functions of the ,office1 which shall be to promote the export of goods and services from the territories1 conduct outreach1 education1 and disseminate information concerning export opportunities and the availability of ,agency support for such activities1 and to increase the total amount of loans1 guarantees1 and insurance provided by the ,agency benefitting the territories4 ,in this ,act1 the term territory means the ,commonwealth of ,puerto ,rico1 the ,united ,states ,virgin ,islands1 ,guam1 the ,commonwealth of the ,northern ,mariana ,islands1 and ,american ,samoa4 4 7b7 ,annual report ,section #h of such ,act 7#ab ,u4,s4,c4 #fce;g71 as amended by sections #ajc7;b7 and #aje7;b7 of this ,act1 is amended by adding at the end the following3 7n7 ,report on activities in the territories ,the ,agency shall include in its annual report to ,congress under subsection 7a7 a report on the steps taken by the ,agency in the period covered by the report to increase-- 7#a7 awareness of the ,agency and its services in the territories2 and 7#b7 the provision of ,agency support to export businesses in the territories4 4 #ajg4 ,promoting renewable energy exports 7a7 ,office of financing for renewable energy1 energy efficiency and energy storage exports ,section #b7;b77#a77;,c7 of the ,export-,import ,bank ,act of #aide 7#ab ,u4,s4,c4 #fce7;b77#a77;,c77 is amended to read as follows3 7,c7 ,office of financing for renewable energy1 energy efficiency and energy storage ,the ,president of the ,agency shall establish an office whose functions shall be to promote the export of goods and services to be used in the development1 production1 and distribution of renewable energy resources1 and energy efficiency and energy storage technologies1 and disseminate information concerning export opportunities and the availability of ,agency support for such activities1 to increase the total amount of loans1 guarantees1 and insurance provided by the ,agency to support exports related to renewable energy1 energy efficiency1 and energy storage4 4 7b7 ,financing for renewable energy1 energy efficiency1 and energy storage technologies ,section #b7;b77#a77,k7 of such ,act 7#ab ,u4,s4,c4 #fce7;b77#a77,k77 is amended by inserting 1 energy efficiency and energy storage4 ,it shall be a goal of the ,agency to ensure that not less than #e percent of the applicable amount 7as defined in section #f7;a77#b77 is made available each fiscal year for the financing of renewable energy1 energy efficiency and energy storage technology exports before the period4 7c7 ,annual report ,section #h of such ,act 7#ab ,u4,s4,c4 #fce;g71 as amended by sections #ajc7;b71 #aje7;b71 and #ajf7;b7 of this ,act1 is amended by adding at the end the following3 7o7 ,efforts of agency ,to promote export of goods and services related to renewable energy sources1 energy efficiency1 and energy storage ,a description of the activities of the ,agency with respect to enhancing outreach and financing renewable energy1 energy efficiency1 and energy storage projects undertaken under section #b7;b77#a77,k72 an assessment of its success and failure in meeting the goal set out in section #b7;b77#a77,k72 where applicable1 the specific measures the ,agency will take in the upcoming year to make progress towards meeting the goal outlined in section #b7;b77#a77,k71 including expanded outreach1 product improvements1 and related actions2 and an analysis comparing the level of support extended by the ,agency for renewable energy1 energy efficiency and energy storage projects with the level of support so extended for the preceding fiscal year4 4 7d7 ,sense of the ,congress regarding ,agency accountability ,it is the sense of the ,congress that-- 7#a7 the ,board of ,directors of the ,united ,states ,export ,finance ,agency 7in this section referred to as the ,agency7 should1 after a public consultation process1 establish a formal1 transparent1 and independent accountability mechanism to review1 investigate1 offer independent dispute resolution to resolve1 and publicly report on allegations by affected parties of any failure of the ,agency to follow its own policies and procedures with regard to the environmental and social effects of projects1 and on situations where the ,agency is alleged to have failed in ensuring the borrower is fulfilling its obligations in financing agreements with respect to the policies and procedures2 7#b7 the accountability mechanism should be able to provide advice to management on policies1 procedures1 guidelines1 resources1 and systems established to ensure adequate review and monitoring of the environmental and social effects of projects2 7#c7 in carrying out its mandate1 the confidentiality of sensitive business information should be respected1 as appropriate1 and1 in consultation with affected parties1 project sponsors1 ,agency management1 and other relevant parties1 a flexible process should be followed aimed primarily at correcting project failures and achieving better results on the ground2 7#d7 the accountability mechanism should be independent of the line operations of management1 and report its findings and recommendations directly to the ,board of ,directors of the ,agency and annually to the ,congress2 7#e7 the annual report of the ,agency should include a detailed accounting of the activities of the accountability mechanism for the year covered by the report and the remedial actions taken by the ,agency in response to the findings of the accountability mechanism2 7#f7 in coordination with the accountability mechanism1 the ,agency and relevant parties should engage in proactive outreach to communities affected or potentially affected by ,agency financing and activities to provide information on the existence and availability of the accountability mechanism2 7#g7 the ,president of the ,agency should1 subject to the approval of the ,board of ,directors of the ,agency1 through an open and competitive process1 including solicitation of input from relevant stakeholders1 appoint a director of the accountability mechanism1 who would be responsible for the day-to-day operations of the mechanism1 and a panel of not less than #c experts1 including the director1 who would also serve as chair of the panel2 and 7#h7 ,agency employees should be ineligible to serve as the accountability mechanism chair or on the panel of experts until at least #e years have elapsed from their time of employment at the ,agency1 and should be barred from future employment at the ,agency after their tenure with the accountability mechanism4 #ajh4 ,alternative procedures during quorum lapse 7a7 ,in general ,section #c7;c77#f7 of the ,export-,import ,bank ,act of #aide 7#ab ,u4,s4,c4 #fce;a7c77#f77 is amended-- 7#a7 by inserting 7,a7 after 7#f72 and 7#b7 by adding at the end the following3 7,b7 7i7 ,if a quorum of the ,board of ,directors has not been in place for #ij consecutive days during the term of a ,president1 a temporary ,board1 consisting of the following members1 shall act in the stead of the ,board of ,directors3 7,i7 ,the ,united ,states ,trade ,representative1 who shall serve as ,chairperson of the ,temporary ,board4 7,,ii7 ,the ,secretary of the ,treasury4 7,,iii7 ,the ,secretary of ,commerce4 7,,iv7 ,the members of the ,board of ,directors4 7ii7 ,a member described in subclause 7,i71 7,,ii71 or 7,,iii7 of clause 7i7 may delegate the authority of the member to vote on whether to authorize a transaction1 whose value does not exceed #ajj1jjj1jjj1 to-- 7,i7 if the member is in ,united ,states ,trade ,representative1 the ,deputy ,united ,states ,trade ,representative2 or 7,,ii7 if the member is referred to in such subclause 7,,ii7 or 7,,iii71 the ,deputy ,secretary of the department referred to in the subclause4 7iii7 ,if the temporary ,board consists only of members of #a political party1 the ,president of the ,united ,states shall1 to the extent practicable1 appoint to the temporary ,board a qualified member of a different political party who occupies a position requiring nomination by the ,president1 by and with the advice and consent of the ,senate4 7iv7 ,the temporary ,board may approve transactions over #be1jjj1jjj only by a unanimous vote of the temporary ,board1 and may not change or amend ,agency policies1 procedures1 bylaws1 or guidelines4 7v7 ,the temporary ,board shall expire at the end of the term of the ,president in office at the time the temporary ,board was constituted4 7vi7 ,with respect to a transaction that equals or exceeds #ajj1jjj1jjj1 the ,chairperson of the ,temporary ,board shall ensure that the ,agency complies with section #b7;b77#c74 4 7b7 ,sunset ,the amendments made by subsection 7a7 shall have no force or effect after the #g-year period that begins with the date of the enactment of this ,act4 #aji4 ,information technology systems ,section #c7;j7 of the ,export-,import ,bank ,act of #aide 7#ab ,u4,s4,c4 #fce;a7j77 is amended-- 7#a7 in paragraph 7#a71 by striking all that precedes subparagraph 7,a7 and inserting the following3 7#a7 ,in general ,subject to paragraphs 7#c7 and 7#d71 the ,agency may use an amount equal to #a4be percent of the surplus of the ,agency during fiscal years #bjbj through #bjbf to-- 2 and 7#b7 by striking paragraph 7#c7 and inserting the following3 7#c7 ,limitation ,the aggregate of the amounts used in accordance with paragraph 7#a7 for fiscal years #bjbj through #bjbf shall not exceed #bh1jjj1jjj4 4 #aaj4 ,administratively determined pay ,section #c of the ,export-,import ,bank ,act of #aide 7#ab ,u4,s4,c4 #fce;a71 as amended by the preceding provisions of this ,act1 is amended by adding at the end the following3 7o7 ,compensation of employees 7#a7 ,rates of pay ,subject to paragraph 7#b71 the ,board of ,directors of the ,agency1 consistent with standards established by the ,director of the ,office of ,minority and ,women ,inclusion1 may set and adjust rates of basic pay for employees and new hires of the ,agency without regard to the provisions of chapter #ea and subchapter ,,iii of chapter #ec of title #e1 ,united ,states ,code1 except that no employee of the ,agency may receive a rate of basic pay that exceeds the rate for level ,,iii of the ,executive ,schedule under section #ecac of such title4 7#b7 ,limitations ,the ,board of ,directors of the ,agency may not apply paragraph 7#a7 to more than #ce employees at any point in time4 ,nothing in paragraph 7#a7 may be construed to apply to any position of a confidential or policy-determining character that is excepted from the competitive service under section #ccjb of title #e1 ,united ,states ,code1 7pursuant to section ,c of subpart ,c of part #bac of title #e of the ,code of ,federal ,regulations7 or to any position that would otherwise be subject to section #ecaa or #ecgf of title #e1 ,united ,states ,code4 4 #aaa4 ,survey on blockchain use in the operations of ,united ,states exporters ,within #cfj days after the date of the enactment of this ,act1 and annually thereafter for the succeeding #e years1 the ,president of the ,united ,states ,export ,finance ,agency shall submit to the ,committee on ,financial ,services of the ,house of ,representatives and the ,committee on ,banking1 ,housing1 and ,urban ,affairs of the ,senate a written report that includes the following3 7#a7 ,a survey of ,united ,states exporters benefitting from ,agency support regarding the use of blockchain in their operations1 including their management of supply chains1 contracts1 and payments4 7#b7 ,an assessment of the effects of blockchain on reliability1 transparency1 and security in the operations4 7#c7 ,any policy recommendations to improve the development1 use1 and security of blockchain in the operations of ,united ,states exporters4 ,,ii ,improving ,agency operations and enhancing transparency and accountability #bja4 ,annual testimony ,the ,export-,import ,bank ,act of #aide 7#ab ,u4,s4,c4 #fce-fce;i-#i7 is amended by inserting after section #h;,a the following3 #h;,b4 ,annual testimony ,for each fiscal year through fiscal year #bjbf1 after submitting the annual report to ,congress under section #h7;a7 for the fiscal year1 the ,president of the ,united ,states ,export ,finance ,agency shall1 on request1 appear before the ,committee on ,financial ,services of the ,house of ,representatives and the ,committee on ,banking1 ,housing1 and ,urban ,affairs of the ,senate to present testimony on-- 7#a7 the activities of the ,agency in the fiscal year covered by the report1 particularly activities pursuant to the ,project on ,china and ,transformational ,exports2 7#b7 the actions taken by ,agency management to strengthen the ability of the ,agency to comply with all statutory requirements1 and with ,agency policies and procedures1 including policies and procedures relating to anti-fraud controls1 underwriting standards1 and additionality2 7#c7 the results of the most recent ,federal ,employee ,viewpoint ,survey or other comparable research on staff perspectives at the ,agency2 7#d7 the status of ,agency efforts in the preceding fiscal year to meaningfully address recommendations proposed by the ,inspector ,general1 ,united ,states ,export ,finance ,agency2 and 7#e7 outreach efforts to increase small business awareness and use of the ,agency1 including efforts undertaken pursuant to section #c7;i74 4 #bjb4 ,independent audit of regional export finance centers 7a7 ,audit ,the ,inspector ,general of the ,united ,states ,export ,finance ,agency shall conduct an audit of the operation of the ,regional ,export ,finance ,centers of the ,agency1 including a review of-- 7#a7 whether the metrics used by the ,office of ,small ,business to evaluate regional office employees adhere to guidance issued by the ,united ,states ,office of ,personnel ,management and the ,civil ,service ,reform ,act2 7#b7 whether metrics used by the ,office of ,small ,business to evaluate regional office employees are sufficiently tailored to performance requirements2 7#c7 whether metrics have unintended consequences in the use of ,agency programs2 and 7#d7 metrics are aligned with the requirements of section #b7;b77#a77;,e77v7 of the ,export-,import ,bank ,act of #aide4 7b7 ,report ,not later than #ahj days after the audit required by subsection 7a7 is completed1 the ,agency shall submit to the ,committee on ,banking1 ,housing1 and ,urban ,affairs of the ,senate and the ,committee on ,financial ,services of the ,house of ,representatives a written report detailing the ,agency's plan to address deficiencies outlined in the audit4 #bjc4 ,risk ,management ,committee 7a7 ,in general ,section #c7m7 of the ,export-,import ,bank ,act of #aide 7#ab ,u4,s4,c4 #fce;a7m77 is amended to read as follows3 7m7 ,risk management committee 7#a7 ,membership2 chair ,there shall be a ,risk ,management ,committee consisting of the ,directors of the ,agency other than the ,chairman or the ,vice ,chairman4 ,the ,chairman of the ,board of ,directors of the ,agency shall designate a member of the ,risk ,management ,committee to serve as chair of the ,risk ,management ,committee4 ,if1 because of #a or more vacancies in the offices of the ,directors other than the ,chairman or the ,vice ,chairman1 the ,risk ,management ,committee would have only #a or #b members1 the ,general ,counsel shall also serve as a member of the ,risk ,management ,committee1 but shall not serve as chair4 ,if the ,chairman and the ,vice ,chairman are the only ,directors in office1 the ,risk ,management ,committee shall consist of the ,chairman and the ,general ,counsel1 and the ,general ,counsel shall serve as chair4 7#b7 ,duties ,the ,risk ,management ,committee shall report to the ,board of ,directors1 and shall be responsible for providing assistance to the ,board in-- 7,a7 fulfilling the accounting and reporting responsibilities of the ,board2 7,b7 determining that the ,agency has adequate administrative and financial controls2 7,c7 reviewing the financial statements prepared by management for distribution to the ,congress and the public2 7,d7 providing direction over the internal audit function and the independent accountants2 7,e7 overseeing1 in conjunction with the ,office of the ,chief ,financial ,officer of the ,agency-- 7i7 periodic stress testing on the entire ,agency portfolio1 reflecting different market1 industry1 and macroeconomic scenarios1 and consistent with best practices of commercial and multilateral development banks2 and 7ii7 the monitoring of industry1 geographic1 and obligor exposure levels2 and 7,f7 reviewing all required reports on the default rate of the ,agency before submission to ,congress under section #h7;g74 7#c7 ,quorum #b members of the ,risk ,management ,committee shall constitute a quorum4 4 7b7 ,conforming repeal ,section #eajjf of the ,fixing ,america's ,surface ,transportation ,act 7#abi ,stat4 #agff2 ,public ,law #ajd-id7 is hereby repealed4 #bjd4 ,ensuring ,agency compliance with additionality requirements 7a7 ,written documentation requirements ,not later than #ahj days after the date of the enactment of this ,act1 the ,board of ,directors of the ,united ,states ,export ,finance ,agency shall1 with respect to an authorization in connection with a transaction equal to or in excess of #be1jjj1jjj-- 7#a7 adopt and implement policies and procedures to ensure that the ,agency includes written documentation of the determination and verification of additionality in its records1 including-- 7,a7 a description of attempts by relevant parties to a transaction to obtain private-sector financing2 7,b7 an explanation of how the level of ,agency financing responds to limitations in the availability or terms of private capital2 and 7,c7 an assessment1 to the extent practicable1 of the availability and terms of competing financing by a foreign export credit agency2 7#b7 consult with the ,chief ,information ,officer and the ,inspector ,general of the ,agency to implement appropriate recordkeeping practices for the written documentation1 as well as for any other documentation required by ,agency policies and procedures2 and 7#c7 submit to the ,committee on ,financial ,services of the ,house of ,representatives and the ,committee on ,banking1 ,housing1 and ,urban ,affairs of the ,senate a written report that includes a copy of the policies and procedures of the ,agency regarding additionality1 and an explanation of how the ,agency uses the determination and verification of additionality to evaluate applications for support4 assistance4 7b7 ,,gao reviews of agency policies and procedures for additionality determination and verification ,in each of calendar years #bjbj1 #bjbb1 and #bjbd1 and #bjbf1 the ,comptroller ,general of the ,united ,states shall review the policies and procedures of the ,united ,states ,export ,finance ,agency relating to how the ,agency makes a judgment that a transaction is unlikely to proceed without support from the ,agency1 and the documentation supporting such a judgment1 and submit the result of the review to the ,committee on ,financial ,services of the ,house of ,representatives and the ,committee on ,banking1 ,housing1 and ,urban ,affairs of the ,senate1 along with any recommendations to strengthen ,agency policies and processes to determine additionality and prevent the ,agency from competing with private capital1 as described in section #b7;b77#a77;,b7 of the ,export-,import ,bank ,act of #aide4 7c7 ,additional information required ,to be provided to ,congress before approving certain support ,section #b7;b77#c77;,b7 of the ,export-,import ,bank ,act of #aide 7#ab ,u4,s4,c4 #fce7;b77#c77;,b77 is amended by inserting 1 a determination by the ,agency as to whether financing by the ,agency fully meets the additionality policies of the ,agency1 and a non-confidential summary of the facts and conclusions reached in a detailed economic impact analysis or similar study conducted pursuant to subsection 7e77#g7 before the period4 #bje4 ,reinsurance program ,section #eajjh of the ,fixing ,america's ,surface ,transportation ,act 7#ab ,u4,s4,c4 #fce note7 is amended-- 7#a7 in the section heading1 by striking ,pilot2 7#b7 in subsection 7a71 by striking pilot2 and 7#c7 by striking subsections 7c7 through 7e7 and inserting the following3 7c7 ,factors for consideration in reinsurance pools ,in implementing this section1 the ,agency shall1 with respect to a reinsurance pool1 pursue appropriate objectives to reduce risk and costs to the ,agency1 including by the following1 to the extent practicable3 7#a7 ,ensuring a reasonable diversification of risks4 7#b7 ,including larger exposures where the possibility of default raises overall portfolio risk for the ,agency4 7#c7 ,excluding transactions from the pool that are covered by first-loss protection4 7#d7 ,excluding transactions from the pool that are collateralized at a rate greater than standard market practice4 7#e7 ,diversifying reinsurance pools by industry and other appropriate factors4 7#f7 ,exploring different time periods of coverage4 7#g7 ,exploring both excess of loss structures on a per-borrower as well as an aggregate basis4 7d7 ,biennial reports ,not later than #a year after the date of the enactment of this subsection1 and every #b years thereafter through #bjbf1 the ,agency shall submit to the ,committee on ,financial ,services of the ,house of ,representatives and the ,committee on ,banking1 ,housing1 and ,urban ,affairs of the ,senate a written report that contains an assessment of the use of the program carried out under subsection 7a7 since the most recent report under this subsection4 7e7 ,rule of construction ,nothing in this section shall be construed to limit any authority of the ,agency described in section #b7;a77#a7 of the ,export-,import ,bank ,act of #aide4 4 #bjf4 ,report on new ,agency policies1 procedures1 and bylaws ,not later than #ij days after the date of the enactment of this ,act1 the ,president of the ,united ,states ,export ,finance ,agency shall transmit to the ,committee on ,financial ,services of the ,house of ,representatives and the ,committee on ,banking1 ,housing1 and ,urban ,affairs of the ,senate a copy of all policies1 procedures1 and bylaws of the ,agency approved by the ,board of ,directors of the ,agency that are in effect on such date of enactment4 ,within #cj days after the ,board of ,directors of the ,united ,states ,export ,finance ,agency adopts or amends such a policy1 procedure1 or bylaw1 the ,president of the ,agency shall transmit a copy of the adopted or amended policy1 procedure1 or bylaw to the ,committee on ,financial ,services of the ,house of ,representatives and the ,committee on ,banking1 ,housing1 and ,urban ,affairs of the ,senate4 #bjg4 ,report on travel practices of ,agency employees ,not later than #ahj days after the date of the enactment of this ,act1 and annually thereafter for the succeeding #g years1 the ,president of the ,united ,states ,export ,finance ,agency shall submit to the ,committee on ,financial ,services of the ,house of ,representatives and the ,committee on ,banking1 ,housing1 and ,urban ,affairs of the ,senate a written report that provides details on authorized travel by ,agency officers and employees in the preceding year1 including the following3 7#a7 ,travel start date and end date4 7#b7 ,destination or destinations4 7#c7 ,the department and division employing the traveler4 7#d7 ,obligated travel costs4 7#e7 ,class of travel4 7#f7 ,the amount of any reimbursed travel costs or other forms of sponsorship4 #bjh4 ,report on steps taken to correct deficiencies related to information security ,not later than #ahj days after the date of the enactment of this ,act1 the ,president of the ,united ,states ,export ,finance ,agency shall submit to the ,committee on ,financial ,services of the ,house of ,representatives and the ,committee on ,banking1 ,housing1 and ,urban ,affairs of the ,senate a written report on the steps the ,agency is taking to correct the deficiencies in policies1 procedures1 and programs identified in the ,independent ,audit of the ,united ,states ,export ,finance ,agency's ,information ,security ,program ,effectiveness for ,fiscal ,year #bjah 7,,oig-,,ar-#ai-jc74 #bji4 ,additional requirements involving certain transactions 7a7 ,in general ,section #b7;b7 of the ,export-,import ,bank ,act of #aide 7#ab ,u4,s4,c4 #fce7;b77 is amended by adding at the end the following3 7#ad7 7,a7 ,if the outstanding loans1 guarantees1 and insurance authorized by the ,agency in association with a ,united ,states exporter or a ,united ,states lender equals or exceeds the prescribed amount at any point in a fiscal year1 the ,president of the ,agency shall transmit to the ,committee on ,financial ,services of the ,house of ,representatives and the ,committee on ,banking1 ,housing1 and ,urban ,affairs of the ,senate a detailed description of policies and practices by the ,united ,states exporter or ,united ,states lender1 as the case may be1 regarding-- 7i7 diversity in management1 employment1 and business activities1 including data pertaining to-- 7,i7 equal employment opportunity and the racial1 ethnic1 and gender diversity of the workforce and senior management2 7,,ii7 outreach programs to hire qualified women and minority employees and contract with qualified minority-owned and women-owned businesses2 7,,iii7 the participation of women-owned and minority-owned businesses in procurement and contracting1 including as suppliers and subcontractors2 and 7,,iv7 developments with respect to this clause1 including job creation for women and minority employees1 suppliers1 and contractors1 resulting from the policies and practices described in this subparagraph during the preceding year2 and 7ii7 outreach efforts to small businesses during the preceding year1 including efforts that-- 7,i7 raise awareness of small business procurement and contracting opportunities2 7,,ii7 educate small businesses involved in procurement and contracting on the objectives and activities of the ,agency1 with the purpose of expanding direct small business exports financed by the ,agency2 and 7,,iii7 developments resulting from the outreach efforts described in this clause during the preceding year1 including the number of small businesses contracted with and the number of jobs created1 as well as any other benefits to the communities of the exporter1 lender1 or related small businesses1 as the case may be4 7,b7 ,on authorization of financing that equals or exceeds #ajj1jjj1jjj during the fiscal year involving the exporter or lender described in subparagraph 7,a71 the ,president of the ,agency shall transmit to the ,committee on ,financial ,services of the ,house of ,representatives and the ,committee on ,banking1 ,housing1 and ,urban ,affairs of the ,senate a report that includes-- 7i7 an economic impact analysis or similar study of the transaction performed by the ,agency1 in a manner consistent with the procedures described in subsection 7e77#g71 which shall include consideration of the views of the public and interested parties and an assessment of adverse effects on ,united ,states employment1 if any1 that may result from ,agency financing involving a foreign competitor of a ,united ,states entity2 and 7ii7 an assessment of how the ,agency determined the need for financing of the transaction1 including-- 7,i7 a description of attempts by relevant parties to the transaction to obtain private-sector financing1 including a description of the written documentation of the attempts1 or an explanation for the lack of any such attempt2 and 7,,ii7 7aa7 an explanation of why private-sector financing is not available or not economically viable for the transaction2 or 7bb7 a certification that the ,agency received sufficient information to conclude that financing is necessary to counter official export credit provided by a foreign government for a similar transaction involving the same foreign obligor4 7,c7 ,in this paragraph1 the term prescribed amount means an amount equal to #bj percent of the outstanding loans1 guarantees1 and insurance of the ,agency1 as calculated on the #ast day of the fiscal year4 4 7b7 ,section #h of such ,act 7#ab ,u4,s4,c4 #fce;g71 as amended by title ,i of this ,act1 is amended by adding at the end the following3 7p7 ,addition to annual report ,the ,agency shall include in its annual report to the ,congress under subsection 7a7 information on the #aj ,united ,states exporters benefitting from the highest level of ,agency support and #aj foreign obligors utilizing the highest level of ,agency support during the reporting period1 including the share of total authorizations by value1 and the industry or industrial sector1 connected with each such exporter and obligor4 4 #baj4 ,anti-fraud reforms ,section #b of the ,export-,import ,bank ,act of #aide 7#ab ,u4,s4,c4 #fce7 is amended-- 7#a7 in subsection 7f71 by striking the period and inserting3 1 and shall deny an application for assistance if-- 7#a7 the ,agency has substantial credible evidence that the end user1 borrower1 lender1 or exporter has committed an act of fraud or corruption in connection with the application2 or 7#b7 the end user1 borrower1 lender1 or exporter has been convicted of an act of fraud or corruption in connection with an application for support from the ,agency made in the preceding #e years4 ,the ,agency may proceed with an application described under paragraph 7#a7 or 7#b7 of this subsection only if an end user1 borrower1 lender1 or exporter can be fully excluded from the transaction4 2 and 7#b7 in subsection 7i71 by striking should require and inserting shall require4 ,,iii ,foreign policy considerations #cja4 ,chinese government-owned enterprises 7a7 ,in general ,section #b of the ,export-,import ,bank ,act of #aide 7#ab ,u4,s4,c4 #fce71 as amended by section #ajc7;a7 of this ,act1 is amended by adding at the end the following3 7m7 ,restriction on financing for entities owned or controlled by the chinese government 7#a7 ,in general ,an authorization approved by the ,board of ,directors after the effective date of this subsection may not take effect if a loan1 guarantee1 or insurance is approved for the benefit of any foreign entity that is at least #be percent owned1 directly or indirectly1 by the government of the ,people's ,republic of ,china1 unless the ,united ,states ,trade ,representative1 in consultation with appropriate ,federal agencies1 completes a due diligence review and certifies the financing1 in accordance with paragraph 7#c71 in a report to the ,committee on ,financial ,services of the ,house of ,representatives and the ,committee on ,banking1 ,housing1 and ,urban ,affairs of the ,senate4 ,for the purposes of identifying whether a foreign entity is at least #be percent owned1 directly or indirectly1 by the government of the ,people's ,republic of ,china1 the ,board of ,directors may rely on any of the following3 7,a7 ,information required of or provided by a party to the transaction4 7,b7 ,any information provided to the ,agency by a ,federal department or agency4 7#b7 ,limitation on financing of local costs ,the ,agency may not approve financing for a transaction if more than #ae percent of local costs with respect to the transaction that are incurred in the ,people's ,republic of ,china would be covered by the financing4 7#c7 ,due diligence review and report ,for the purposes of the report described in paragraph 7#a71 the ,united ,states ,trade ,representative shall present the findings of the due diligence review1 but may not provide the certification referred to in paragraph 7#a71 if-- 7,a7 the foreign entity provides goods1 services1 or other material or financial support in connection with any of the following policies and operations of the government of the ,people's ,republic of ,china3 7i7 ,any military or intelligence operations2 7ii7 ,activities pursuant to the ,belt and ,road ,initiative 7or any successor or comparable activity of that government72 7iii7 ,the abuse of human rights1 including the restriction of freedom of expression and the mistreatment of ethnic or religious minorities in ,china2 7iv7 ,any other policy or operation that1 in the determination of the ,president1 may threaten the national interest of the ,united ,states2 7,b7 the ,united ,states ,trade ,representative finds that the transaction would not provide a meaningful net economic benefit for the ,united ,states2 7,c7 the foreign entity knowingly engages in the theft of ,united ,states intellectual property or the illicit transfer of technology from a ,united ,states person2 7,d7 the transaction described in paragraph 7#a7 involves the export of critical technologies 7as defined under section #gba7;a77#f7 of the ,defense ,production ,act of #aiej7 to the foreign entity2 or 7,e7 the leadership of the foreign entity engages in a significant act or acts of corruption or money laundering1 or has committed a violation of the ,foreign ,corrupt ,practices ,act of #aigg1 the ,arms ,export ,control ,act1 the ,international ,emergency ,economic ,powers ,act1 or the ,export ,administration ,act of #aigi4 7#d7 ,timing and form of report ,the report described in paragraph 7#c7 shall be submitted not later than #de days after approval by the ,board of ,directors1 except that the ,united ,states ,trade ,representative may extend the required time in which to submit the report by one #ae-;day period on notifying the ,committee on ,financial ,services of the ,house of ,representatives and the ,committee on ,banking1 ,housing1 and ,urban ,affairs of the ,senate that the extension is necessary4 ,the report described in paragraph 7#c7 shall be submitted in unclassified form but may contain a classified annex4 7#e7 ,procedures for chinese government-controlled entities ,the requirements of paragraph 7#a7 shall apply to any foreign entity1 notwithstanding the level of ownership by the government of the ,people's ,republic of ,china1 if the ,agency has reason to believe that the foreign entity is controlled by the government of the ,people's ,republic of ,china4 7#f7 ,exemption ,paragraphs 7#a7 and 7#b7 shall not apply to the following if-- 7,a7 financing would enable exports directly by ,united ,states small business concerns2 or 7,b7 financing is required for the export of humanitarian goods or services1 including lifesaving1 rescue1 and medical equipment 7such as ambulances1 firefighting vehicles1 hospital supplies1 and medical devices74 7#g7 ,presidential waiver ,the ,president may waive any requirement of paragraph 7#a7 or 7#b7 for up to #a year at a time1 on reporting in writing to the ,committee on ,financial ,services of the ,house of ,representative and the ,committee on ,banking1 ,housing1 and ,urban ,affairs of the ,senate that the waiver is essential to the national interest of the ,united ,states1 with a detailed explanation of the reasons therefor4 4 7b7 ,sunset ,the amendment made by subsection 7a7 shall have no force or effect on and after the earlier of-- 7#a7 the date that is #cj days after the ,secretary of the ,treasury submits a report to the ,committee on ,financial ,services of the ,house of ,representatives and the ,committee on ,banking1 ,housing1 and ,urban ,affairs of the ,senate certifying that the ,people's ,republic of ,china is in substantial compliance with-- 7,a7 the financial terms and conditions of the ,arrangement on ,officially ,supported ,export ,credits of the ,organization for ,economic ,cooperation and ,development2 and 7,b7 the rules and principles of the ,paris ,club2 or 7#b7 the date that is #cj days after the ,president of the ,united ,states ,export ,finance ,agency reports to the ,committee on ,financial ,services of the ,house of ,representatives and the ,committee on ,banking1 ,housing1 and ,urban ,affairs of the ,senate that the ,board of ,directors of the ,agency has voted in favor of terminating the requirement for a certification in section #b7m77#a7 of the ,export-,import ,bank ,act of #aide1 except that the ,board of ,directors may not hold such a vote before the date that is #e years after the date of the enactment of this ,act4 #cjb4 ,international negotiations on export subsidies 7a7 ,in general ,section #aa7;a77#a7 of the ,export-,import ,bank ,reauthorization ,act of #bjab 7#ab ,u4,s4,c4 #fce;a-#e7;a77#a77 is amended by striking with possible goal of eliminating1 before the date that is #aj years after ,december #d1 #bjae1 and inserting with the goal of eliminating1 before the date that is #aj years after the date of the enactment of the ,united ,states ,export ,finance ,agency ,act of #bjai4 7b7 ,progress report ,section #aa7;e7 of such ,act 7#ab ,u4,s4,c4 #fce;a-#e7;e77 is amended by striking #bjai and inserting #bjbf4 7c7 ,conduct of negotiations ,section #aa of such ,act 7#ab ,u4,s4,c4 #fce;a-#e7 is amended-- 7#a7 in each of subsections 7a7 and 7d71 by striking ,the ,president and inserting ,not less frequently than twice per calendar year1 the ,secretary of the ,treasury1 in consultation with the ,president of the ,united ,states ,export ,finance ,agency and the ,united ,states ,trade ,representative12 and 7#b7 in each of subsections 7b71 7c71 and 7e71 by striking ,president each place it appears and inserting ,secretary of the ,treasury4 #cjc4 ,prohibition on financing for exports involving state sponsors of terrorism ,section #b7;b77#b7 of the ,export-,import ,bank ,act of #aide 7#ab ,u4,s4,c4 #fce7;b77#b77 is amended-- 7#a7 in the paragraph heading1 by inserting after ,marxist-,leninist ,countries the following3 and ,state ,sponsors of ,terrorism2 and 7#b7 in subparagraph 7,a71 by inserting after ,marxist-,leninist country each place it appears or a state sponsor of terrorism4 ,,iv ,miscellaneous provisions #dja4 ,miscellaneous updates relating to the ,united ,states ,export ,finance ,agency 7a7 ,section #b7;a77#c7 of the ,export-,import ,bank ,act of #aide 7#ab ,u4,s4,c4 #fce7;a77#c77 is amended-- 7#a7 by adding and at the end of subparagraph 7,b72 7#b7 by striking 2 and at the end of subparagraph 7,c7 and inserting a period2 and 7#c7 by striking subparagraph 7,d74 7b7 ,section #b7;b77#a77;,h7 of such ,act 7#ab ,u4,s4,c4 #fce7;b77#a77;,h77 is amended in each of clauses 7ii7 and 7iii7 by striking including and all that follows and inserting including ,united ,states allies and partners eligible for assistance from the ,international ,bank for ,reconstruction and ,development and the ,international ,development ,association44 7c7 ,section #b7;b77#a77;,i7 of such ,act 7#ab ,u4,s4,c4 #fce7;b77#a77;,i77 is amended by striking the #bnd sentence4 7d7 ,section #b7;b77#c77;,a77iii7 of such ,act 7#ab ,u4,s4,c4 #fce7;b77#c77;,a77iii77 is amended by inserting 1 the ,united ,states exporter1 before and4 7e7 ,section #b7;b77#c77;,b7 of such ,act 7#ab ,u4,s4,c4 #fce7;b77#c77;,b77 is amended by inserting a description1 to the extent practicable1 of any private financing1 used or unused1 available for the transaction1 to the extent known1 before the amount4 7f7 ,section #c7;d77#a77;,b7 of such ,act 7#ab ,u4,s4,c4 #fce;a7d77#a77;,b77 is amended by inserting high technology1 before and4 7g7 ,section #c7;j77#b77;,b77ii7 of such ,act 7#ab ,u4,s4,c4 #fce;a7j77#b77;,b77ii77 is amended-- 7#a7 by inserting 1 interest1 and claim before expenses2 and 7#b7 by inserting including broker commissions before the period4 7h7 ,section #h7;b77#c7 of such ,act 7#ab ,u4,s4,c4 #fce;g7b77#c77 is amended-- 7#a7 by striking ,committee on ,small ,business the #ast place it appears and inserting ,committees on ,banking1 ,housing1 and ,urban ,affairs and on ,small ,business2 and 7#b7 by striking ,committee on ,small ,business the #bnd place it appears and inserting ,committees on ,financial ,services and on ,small ,business4 7i7 7#a7 ,section #h of such ,act 7#ab ,u4,s4,c4 #fce;g71 as amended by the preceding provisions of this ,act1 is amended-- 7,a7 by striking subsection 7c7 and redesignating subsections 7d7 through 7o7 as subsections 7c7 through 7p71 respectively2 and 7,b7 in paragraph 7#b7 of subsection 7e7 7as so redesignated by subparagraph 7,a7 of this paragraph71 by striking 7e7 and inserting 7d74 7#b7 ,section #f7;a77#c7 of such ,act 7#ab ,u4,s4,c4 #fce;e7a77#c77 is amended by striking #h7;g77#a7 each place it appears and inserting #h7;f77#a74 7j7 ,section #aj7;b77#d7 of such ,act 7#ab ,u4,s4,c4 #fce;i-#c7;b77#d77 is amended by striking may and inserting shall1 on request4 #djb4 ,prohibition on financing for certain aviation-related vehicles ,section #b7;b7 of the ,export-,import ,bank ,act of #aide 7#ab ,u4,s4,c4 #fce7;b771 as amended by section #bji7;a7 of this ,act1 is amended by adding at the end the following3 7#ae7 ,prohibition on financing for certain aviation-,related vehicles ,the ,board of ,directors of the ,agency may not give approval to a transaction involving an aviation-related vehicle during any period in which the ,federal ,government has prohibited its operation4 4