,i #aafth ,,congress #b;d ,session ,h4 ,r4 #hafc ,,in ,,the ,,house ,,of ,,representatives ,september #d1 #bjbj ,mr4 ,barr introduced the following bill2 which was referred to the ,committee on ,financial ,services ,a ,,bill ,to limit support for deals with ,chinese state-owned enterprises1 to increase the set-aside goal for the ,program on ,china and ,transformational ,exports1 and for other purposes4 #a4 ,short title ,this ,act may be cited as the ,countering ,china ,through ,american ,export ,competitiveness ,act4 #b4 ,limitation on support for deals with ,chinese state-owned enterprises ,section #djh of division ,i of the ,further ,consolidated ,appropriations ,act1 #bjbj 7#ab ,u4,s4,c4 #fce note2 ,public ,law #aaf-id7 is amended to read as follows3 #djh4 ,limitation on support for deals with ,chinese state-owned enterprises 7a7 ,in general ,the ,export-,import ,bank of the ,united ,states 7in this section referred to as the ,bank7 shall not guarantee1 insure1 or extend 7or participate in the extension of7 credit for which the end user1 lender1 or obligor is the government of the ,people's ,republic of ,china1 except that the ,bank may provide a working capital guarantee or export credit insurance to a ,united ,states exporter4 ,in the case of such a transaction that involves an amount greater than or equal to #be1jjj1jjj1 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 ,states1 who may consult with the ,secretary of ,state1 the ,secretary of the ,treasury1 the ,secretary of ,commerce1 the ,secretary of ,defense1 the ,united ,states ,trade ,representative1 and the heads of other interested ,executive agencies1 a determination that the provision of the guarantee or insurance would not violate the national security interests of the ,united ,states4 7b7 ,national interest report 7#a7 ,in general ,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 #be1jjj1jjj1 pursuant to subsection 7a71 the ,president of the ,bank shall-- 7,a7 report 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 ,bank has obtained from the ,president of the ,united ,states and any other relevant department or agency1 as deemed appropriate by the ,president of the ,united ,states1 a determination that the provision of the guarantee or insurance would not violate the national security interests of the ,united ,states2 7,b7 include a verification from the ,bank that the transaction does not violate any export law of the ,united ,states2 and 7,c7 include a summary of the transaction and the consultation4 7#b7 ,form ,the report described in paragraph 7#a7 shall be submitted in unclassified form but may include a classified annex4 7c7 ,definition of government of the ,people's ,republic of ,china ,in this section1 the term government of the ,people's ,republic of ,china means any person that the ,bank has reason to believe is-- 7#a7 the state and the government of the ,people's ,republic of ,china1 including any political subdivision1 agency1 or instrumentality thereof2 7#b7 any entity controlled1 directly or indirectly1 by any of the foregoing1 including any partnership1 association1 or other entity in which any of the foregoing owns a #ej percent or greater interest or a controlling interest1 and any entity which is otherwise controlled by any of the foregoing2 7#c7 any person that is or has been acting or purporting to act1 directly or indirectly1 for or on behalf of any of the foregoing2 and 7#d7 any other person that the ,secretary of the ,treasury has notified the ,bank is included in any of the foregoing4 4 #c4 ,increase in reserve goal for the ,program on ,china and ,transformational ,exports ,section #b7l77#c7 of the ,export-,import ,bank ,act of #aide 7#ab ,u4,s4,c4 #fce7l77#c77 is amended in each of subparagraphs 7,a7 and 7,b7 by striking #bj and inserting #cc4 #d4 ,suspension of loan authority under the ,program on ,china and ,transformational ,exports while default rate is excessive 7a7 ,in general ,section #b7l7 of the ,export-,import ,bank ,act of #aide 7#ab ,u4,s4,c4 #fce7l77 is amended by adding at the end the following3 7#d7 ,freezing of loans under the ,program on ,china and ,transformational ,exports if default rate for loans under that program is #e percent or more ,if the rate calculated under section #h7;g77#a7 with respect to loans under section #b7l7 is #e percent or more for a quarter1 the ,bank may not exceed the amount of loans under such section that are outstanding on the last day of that quarter until the rate calculated under section #h7;g77#a7 with respect to loans under such section is less than #e percent4 4 7b7 ,conforming amendment ,section #f7;a77#c7 of such ,act 7#ab ,u4,s4,c4 #fce;e7a77#c77 is amended by adding at the end the following3 ,if the rate calculated under section #h7;g77#a7 with respect to loans under section #b7l7 is #b percent or more for a quarter1 then loans under section #b7l7 shall not be taken into account for the quarter for purposes of this paragraph44 #e4 ,advisory committee for ,program on ,china and ,transformational ,exports 7a7 ,in general ,section #b7;b7 of the ,export-,import ,bank ,act of #aide 7#ab ,u4,s4,c4 #fce7;b77 is amended by inserting after paragraph 7#ab7 the following3 7#ad7 7,a7 ,the ,board of ,directors of the ,bank shall take prompt measures1 consistent with the credit standards otherwise required by law1 to promote the expansion of the financial commitments of the ,bank in accordance with the ,program on ,china and ,transformational ,exports under the loan1 guarantee1 and insurance programs of the ,bank4 7,b7 7i7 ,the ,board of ,directors shall establish and use an advisory committee to advise the ,board of ,directors on the development and implementation of policies and programs designed to support the expansion described in subparagraph 7,a74 7ii7 ,at least #a member of the advisory committee shall be a member of the ,u4,s4-,china ,economic and ,security ,review ,commission4 7iii7 ,the advisory committee shall make recommendations to the ,board of ,directors on how the ,bank can facilitate greater support by ,united ,states commercial banks for trade in accordance with the ,program on ,china and ,transformational ,exports4 7iv7 ,the advisory committee shall terminate on the date on which the authority of the ,bank expires under section #g4 4 7b7 ,reports to the ,congress ,within #f months after the date of the enactment of this ,act1 and annually thereafter1 the ,board of ,directors of the ,export-,import ,bank of the ,united ,states shall submit to the ,congress a report on the steps that the ,board has taken to implement section #b7;b77#ad77;,b7 of the ,export-,import ,bank ,act of #aide 7as added by subsection 7a7 of this section7 and any recommendations of the advisory committee established pursuant to such section #b7;b77#ad77;,b74 #f4 ,waiver of domestic content requirements for certain transactions subject to the ,program on ,china and ,transformational ,exports ,section #b7l7 of the ,export-,import ,bank ,act of #aide 7#ab ,u4,s4,c4 #fce7l771 as amended by section #d7;a7 of this ,act1 is amended by adding at the end the following3 7#e7 ,waiver of domestic content requirements 7,a7 ,in general ,the ,bank may waive some or all of the domestic content requirements that would otherwise apply to a transaction described in paragraph 7#a77;,b71 if the ,bank determines that doing so would be in the national security interest of the ,united ,states1 and shall establish a process for requesting such a waiver4 7,b7 ,reports to the ,congress ,not less frequently than twice each year1 the ,bank 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 report specifying the transactions for which a waiver is provided under subparagraph 7,a7 during the period covered by the report4 4