HR 5881 — American Territories Exporting Act of 2020

(a) Establishment as independent agency The Export-Import Bank of the United States shall constitute an independent agency of the United States and neither the Bank nor any of its functions, powers, or duties shall be transferred to or consolidated with any other department, agency, or corporation of the Government unless the Congress shall otherwise by law provide. (b) President and First Vice President of the Bank; appointment; duties There shall be a President of the Export-Import Bank of the United States, who shall be appointed by the President of the United States by and with the advice and consent of the Senate, and who shall serve as chief executive officer of the Bank. There shall be a First Vice President of the Bank, who shall be appointed by the President of the United States by and with the advice and consent of the Senate, who shall serve as President of the Bank during the absence or disability of or in the event of a vacancy in the office of President of the Bank, and who shall at other times perform such functions as the President of the Bank may from time to time prescribe. (c) Board of Directors; composition; oath; terms; duties; quorum; bylaws (1) There shall be a Board of Directors of the Bank consisting of the President of the Export-Import Bank of the United States, who shall serve as Chairman, the First Vice President who shall serve as Vice Chairman, and three additional persons appointed by the President of the United States by and with the advice and consent of the Senate. (2) Of the five members of the Board, not more than three shall be members of any one political party. (3) Omitted (4) Before entering upon his duties, each of the directors shall take an oath faithfully to discharge the duties of his office. (5) The directors, in addition to their duties as members of the Board, shall perform such additional duties and may hold such other offices in the administration of the Bank as the President of the Bank may from time to time prescribe. (6) (A) A quorum of the Board of Directors shall consist of at least three members. (B) (i) If there is an insufficient number of directors to constitute a quorum under subparagraph (A) for 120 consecutive days during the term of a President of the United States, a temporary Board, consisting of the following members, shall act in the stead of the Board of Directors: (I) The United States Trade Representative. (II) The Secretary of the Treasury. (III) The Secretary of Commerce. (IV) The members of the Board of Directors. (ii) If, at a meeting of the temporary Board— (I) a member referred to in clause (i)(IV) is present, the meeting shall be chaired by such a member, consistent with Bank bylaws; or (II) no such member is present, the meeting shall be chaired by the United States Trade Representative. (iii) A member described in subclause (I), (II), or (III) of clause (i) may delegate the authority of the member to vote on whether to authorize a transaction, whose value does not exceed $100,000,000, to— (I) if the member is the United States Trade Representative, the Deputy United States Trade Representative; or (II) if the member is referred to in such subclause (II) or (III), the Deputy Secretary of the department referred to in the subclause. (iv) If the temporary Board consists of members of only one political party, the President of the United States shall, to the extent practicable, appoint to the temporary Board a qualified member of a different political party who occupies a position requiring nomination by the President, by and with the consent of the Senate. (v) The temporary board may not change or amend Bank policies, procedures, bylaws, or guidelines. (vi) The temporary Board shall expire at the end of the term of the President of the United States in office at the time the temporary Board was constituted or upon restoration of a quorum of the Board of Directors as defined in subparagraph (A). (vii) With respect to a transaction that equals or exc...

(a) Annual submission of report The Export-Import Bank of the United States shall transmit to the Congress annually a complete and detailed report of its operations. Such report shall be as of the close of business on the last day of each fiscal year. (b) Report on allocation of sums set aside for small business exports (1) The Bank shall include in its annual report to the Congress a report on the allocation of the sums set aside for small business exports pursuant to section 635(b)(1)(E) of this title. (2) Such report shall specify— (A) the total number and dollar volume of loans made from the sums set aside; (B) the number and dollar volume of loans made through the consortia program under section 635(b)(1)(E)(vii) of this title; (C) the amount of guarantees and insurance provided for small business exports; (D) the number of recipients of financing from the sums set aside who have not previously participated in the Bank’s programs; (E) the number of commitments entered into in amounts less than $500,000; and (F) any recommendations for increasing the participation of banks and other institutions in the programs authorized under section 635(b)(1)(E) of this title. (3) For the purpose of this subsection, the Bank’s report shall be transmitted to the Committee on Small Business of the Senate and the Committee on Small Business of the House of Representatives. (c) Technology to assist small businesses The Bank shall include in its annual report to the Congress under subsection (a) of this section for each of fiscal years 2002 through 2006 a report on the efforts made by the Bank to carry out subparagraphs (E)(x) and (J) of section 635(b)(1) of this title, and on how the efforts are assisting small business concerns (as defined in section 632(a) of title 15). (d) Number of small business suppliers of Bank users The Bank shall estimate on the basis of an annual survey or tabulation the number of entities that are suppliers of users of the Bank and that are small business concerns (as defined in section 632(a) of title 15) located in the United States, and shall include the estimate in its annual report to the Congress under subsection (a) of this section. (e) Outreach to certain small businesses The Bank shall include in its annual report to the Congress under subsection (a) of this section a description of outreach efforts made by the Bank to any socially and economically disadvantaged small business concerns (as defined in section 637(a)(4) of title 15), small business concerns (as defined in section 632(a) of title 15) owned by women, and small business concerns (as defined in section 632(a) of title 15) employing fewer than 100 employees. (f) Additional reports Not later than March 31 of each year, the Bank shall submit to the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate reports on— (1) the extent to which the Bank has been able to use the authority provided, and has complied with the mandates contained, in section 635(b)(1)(E) of this title, and to the extent the Bank has been unable to fully use such authority and comply with such mandates, a report on the reasons for the Bank’s inability to do so and the steps the Bank is taking to remedy such inability; (2) the extent to which financing has been made available to small business concerns (described in subsection (e)) to enable them to participate in exports by major contractors, including through access to the supply chains of the contractors through direct or indirect funding; (3) the specific measures the Bank will take in the upcoming year to achieve the small business objectives of the Bank, including expanded outreach, product improvements, and related actions; (4) the progress made by the Bank in supporting exports by socially and economically disadvantaged small business concerns (defined in section 637(a)(4) of title 15) and small business concerns (as defined in section 6...