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105th Congress > House > Vote 464
Clerk session vote number: 470
Sponsor: CASTLE, Michael Newbold (R-DE)
Description: H.R.1370 BY CASTLE (R-DE) -- EXPORT-IMPORT BANK UNITED STATES REAUTHORIZATION ACT OF 1997 (HOUSE REJECTED THE MCDERMOTT MOTION TO RISE. .)
Bill summary: Amends the Export-Import Bank Act of 1945 to extend the authority of the Export-Import Bank of the United States through FY 2001. Reauthorizes the Bank's tied aid credit program.
(Sec. 3) Extends, through FY 2001, the Bank's authority to extend credit for the sale to a foreign country of nonlethal defense articles or services the primary end use of which will be for civilian purposes.
(Sec. 4) Revises Bank procedures governing the denial of the extension of credit to foreign countries based on
the national interest to: (1) require the President to consult with specified congressional committees before determining that such a denial is in the U.S. national interest; and (2) require written notification to the President of the Bank of such determination, including the applications or categories of applications for credit which should be denied.
(Sec. 5) Directs the General Counsel of the Bank to designate an attorney to serve as Assistant General Counsel for Administration, whose duties shall include oversight of and advice to Bank directors, officers, and employees on ethics, conflicts of interest, personnel, and other administrative matters.
(Sec. 6) Requires the Board of Directors of the Bank to: (1) take prompt measures to promote the expansion of its loan, guarantee, and insurance programs in sub-Saharan Africa; (2) establish an advisory committee to advise it on the implementation of policies and programs to support such expansion; and (3) report annually to the Congress on steps it has taken to implement such policies and programs and any advisory committee recommendations.
(Sec. 7) Revises the composition of the Advisory Committee of the Bank to include the appointment of not less than two members from the labor community.
(Sec. 8) Directs the Chairman of the Bank to: (1) implement a program to provide information about its programs to companies which have not previously participated in them; and (2) report to the Congress on such activities within one year of enactment of this Act.
(Sec. 9) Directs the Board of Directors of the Bank to implement procedures to ensure that, in selecting firms to which to provide financial assistance, preference is given to those that have shown a commitment to reinvestment and job creation in the United States.
(Sec. 10) Directs the Board of Directors of the Bank to give preference to entities that adhere to certain environmental and fair employment principles under a corporate code of conduct when determining whether to guarantee, insure, or extend credit to an entity (except a small business) with respect to the export of any good or service to China.
Directs the Bank to work with the Clearinghouse on Corporate Responsibility that is being developed by the Department of Commerce to ensure that recipients of such assistance are made aware of, and have access to, resources and organizations that can assist them in developing and monitoring global codes of corporate conduct.
(Sec. 11) Changes the name of the Export-Import Bank of the United States to the United States Export Bank.
(Sec. 12) Requires the President to notify the Bank of any transfer by Russia of an SS-N-22 or SS-N-26 missile system to China. Directs the Bank, upon notification, to deny any guarantee, insurance, or extension of credit in connection with the export of any good or service to Russia.
(Sec. 13) Prohibits the Bank from guaranteeing, insuring, or extending credit with respect to the export of any good or service to an entity that: (1) employs children in violation of U.S. law regarding child labor; or (2) has not made a binding commitment to not employ children in such manner.
Bill titles: To reauthorize the Export-Import Bank of the United States.
Links for more info on the vote: congress.gov
