February 26, 2025
Mrs. Kim (for herself and Mrs. Beatty) introduced the following bill; which was referred to the Committee on Financial Services
To amend the Export-Import Bank Act of 1945 to exclude certain financing from the calculation of the default rate for purposes of determining when the lending cap under such Act applies, and for other purposes.
Section 1. Short title
This Act may be cited as the Strengthening Exports Against China Act
.
Sec. 2. Exclusion of certain financing
Section 6(a)(3) of the Export-Import Bank Act of 1945 (12 U.S.C. 635e(a)(3)) is amended—
(1)
by striking If
and inserting the following:
(A) In general
If; and
(2)
by adding at the end the following:
(B) Exclusion of certain financing
For purposes of this paragraph, the rate calculated under section 8(g)(1) shall not include an entity in default if the Bank determines that the financing provided to the entity—
(i)
facilitates the replacement of or competition with a product or service provided by—
(I)
an entity on the Entity List maintained by the Bureau of Industry and Security of the Department of Commerce and set forth in Supplement No. 4 to part 744 of title 15, Code of Federal Regulations; or
(II)
a person—
(aa)
on the list of specially designated nationals and blocked persons maintained by the Office of Foreign Assets Control of the Department of the Treasury; or
(bb)
with respect to which one or more persons described in item (aa), individually or in the aggregate, directly or indirectly, hold at least 50 percent of the outstanding voting interest; or
(ii)
was provided pursuant to the Program on China and Transformational Exports established under section 2(l).