Signed Legislation: Surface Transportation Reauthorization and Reform Act of 2015 (Part 22)

Read part I of  Surface Transportation Reauthorization and Reform Act of 2015

SEC. 41008. REPORT TO CONGRESS.

(a) In General- Not later than April 15 of each year for 10 years beginning on the date of enactment of this Act, the Executive Director shall submit to Congress a report detailing the progress accomplished under this title during the previous fiscal year.

(b) Contents- The report described in subsection (a) shall assess the performance of each participating agency and lead agency based on the best practices described in section 41002(c)(2)(B).

(c) Opportunity To Include Comments- Each council member, with input from the respective agency CERPO, shall have the opportunity to include comments concerning the performance of the agency in the report described in subsection (a).

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SEC. 41009. FUNDING FOR GOVERNANCE, OVERSIGHT, AND PROCESSING OF ENVIRONMENTAL REVIEWS AND PERMITS.

(a) In General- The heads of agencies listed in section 41002(b)(2)(B), with the guidance of the Director of the Office of Management and Budget and in consultation with the Executive Director, may, after public notice and opportunity for comment, issue regulations establishing a fee structure for project proponents to reimburse the United States for reasonable costs incurred in conducting environmental reviews and authorizations for covered projects.

(b) Reasonable Costs- As used in this section, the term `reasonable costs' shall include costs to implement the requirements and authorities required under sections 41002 and 41003, including the costs to agencies and the costs of operating the Council.

(c) Fee Structure- The fee structure established under subsection (a) shall--

(1) be developed in consultation with affected project proponents, industries, and other stakeholders;

(2) exclude parties for which the fee would impose an undue financial burden or is otherwise determined to be inappropriate; and

(3) be established in a manner that ensures that the aggregate amount of fees collected for a fiscal year is estimated not to exceed 20 percent of the total estimated costs for the fiscal year for the resources allocated for the conduct of the environmental reviews and authorizations covered by this title, as determined by the Director of the Office of Management and Budget.

(d) Environmental Review and Permitting Improvement Fund-

(1) IN GENERAL- All amounts collected pursuant to this section shall be deposited into a separate fund in the Treasury of the United States to be known as the `Environmental Review Improvement Fund' (referred to in this section as the `Fund').

(2) AVAILABILITY- Amounts in the Fund shall be available to the Executive Director, without appropriation or fiscal year limitation, solely for the purposes of administering, implementing, and enforcing this title, including the expenses of the Council.

(3) TRANSFER- The Executive Director, with the approval of the Director of the Office of Management and Budget, may transfer amounts in the Fund to other agencies to facilitate timely and efficient environmental reviews and authorizations for proposed covered projects.

(e) Effect on Permitting- The regulations adopted pursuant to subsection (a) shall ensure that the use of funds accepted under subsection (d) will not impact impartial decision-making with respect to environmental reviews or authorizations, either substantively or procedurally.

(f) Transfer of Appropriated Funds-

(1) IN GENERAL- The heads of agencies listed in section 41002(b)(2)(B) shall have the authority to transfer, in accordance with section 1535 of title 31, United States Code, funds appropriated to those agencies and not otherwise obligated to other affected Federal agencies for the purpose of implementing the provisions of this title.

(2) LIMITATION- Appropriations under title 23, United States Code and appropriations for the civil works program of the Army Corps of Engineers shall not be available for transfer under paragraph (1).

SEC. 41010. APPLICATION.

This title applies to any covered project for which--

(1) a notice is filed under section 41003(a)(1); or

(2) an application or other request for a Federal authorization is pending before a Federal agency 90 days after the date of enactment of this Act.

SEC. 41011. GAO REPORT.

Not later than 3 years after the date of enactment of this Act, the Comptroller General of the United States shall submit to Congress a report that includes an analysis of whether the provisions of this title could be adapted to streamline the Federal permitting process for smaller projects that are not covered projects.

TITLE XLII--ADDITIONAL PROVISIONS

SEC. 42001. DETERMINATION OF CERTAIN SPENDING AND TAX BURDENS BY STATE.

(a) Calculation of Federal Revenue Contributions by State-

(1) IN GENERAL- The Secretary of Treasury, acting through the Commissioner of the Internal Revenue Service, shall calculate the Federal tax burden of each State for each calendar year.

(2) CALCULATION OF FEDERAL TAX BURDEN- For purposes of calculating the Federal tax burden of each State under paragraph (1), the Secretary shall--

(A) treat Federal taxes paid by an individual as a burden on the State in which such individual resides; and

(B) treat Federal taxes paid by a legal business entity as a burden on each State in which economic activity of such entity is performed in the same proportion that the economic activity of such entity in such State bears to the economic activity of such entity in all the States.

(3) REPORT- Not later than the date that is 180 days after the beginning of each calendar year, the Secretary of the Treasury shall--

(A) submit to Congress a report containing the results of the calculations described in sections 1 and 2 with respect to such calendar year; and

(B) publish the report on a publicly accessible website of the Internal Revenue Service.

(b) Annual Report on the Flow of Transportation Funds by State-

(1) IN GENERAL- Not later than the first Monday in February of each year, the Secretary of Transportation shall, in consultation with the Secretary of the Treasury, submit to the Committee on Banking, Housing, and Urban Affairs and the Committee on Appropriations of the Senate and the Committee on Transportation and Infrastructure, and the Committee on Ways and Means of the House of Representatives a report that includes--

(A) a description of the total amount of the funds authorized by this Act which were obligated with respect to each State during the last ending fiscal year;

(B) a description of the total amount of revenue contributed from each State to the Highway Trust Fund during such fiscal year.

(2) DETERMINATION OF STATE AMOUNTS- For purposes of this subsection--

(A) IN GENERAL- the State with respect to which an amount is obligated and the State from which revenue is contributed shall be determined under principles similar to the principles for determining the Federal tax burden of each State under subsection (a).

(B) SPECIAL RULE FOR GENERAL FUND TRANSFERS- For purposes of paragraph (1)(B), any transfer from the general fund of the Treasury to the Highway Trust Fund during any fiscal year shall be taken into account as revenue contributed from each State in proportion to each State's Federal tax burden (as determined under subsection (a)) for the calendar year in which such fiscal year began.

SEC. 42002. GAO REPORT ON REFUNDS TO REGISTERED VENDORS OF KEROSENE USED IN NONCOMMERCIAL AVIATION.

Not later than 180 days after the date of the enactment of this Act, the Comptroller General of the United States shall--

(1) conduct a study regarding payments made to vendors of kerosene used in noncommercial aviation under section 6427(l)(4)(C)(ii) of the Internal Revenue Code of 1986; and

(2) submit to the appropriate committees of Congress a report describing the results of such study, which shall include estimates of--

(A) the number of vendors of kerosene used in noncommercial aviation who are registered under section 4101 of such Code;

(B) the number of vendors of kerosene used in noncommercial aviation who are not so registered;

(C) the number of vendors described in subparagraph (A) who receive payments under section 6427(l)(4)(C)(ii) of such Code;

(D) the excess of--

(i) the amount of payments which would be made under section 6427(l)(4)(C)(ii) of such Code if all vendors of kerosene used in noncommercial aviation were registered and filed claims for such payments, over

(ii) the amount of payments actually made under such section; and

(E) the number of cases of diesel truck operators fraudulently using kerosene taxed for use in aviation.

TITLE XLIII--REQUIREMENTS REGARDING RULE MAKINGS

SEC. 43001. REQUIREMENTS REGARDING RULE MAKINGS.

For each publication in the Federal Register required to be made by law and pertaining to a rule made to carry out this Act or the amendments made by this Act, the agency making the rule shall include in such publication a list of information on which the rule is based, including data, scientific and economic studies, and cost-benefit analyses, and identify how the public can access such information online.

DIVISION E--EXPORT-IMPORT BANK OF THE UNITED STATES

SEC. 50001. SHORT TITLE.

This division may be cited as the `Export-Import Bank Reform and Reauthorization Act of 2015'.

TITLE LI--TAXPAYER PROTECTION PROVISIONS AND INCREASED ACCOUNTABILITY

SEC. 51001. REDUCTION IN AUTHORIZED AMOUNT OF OUTSTANDING LOANS, GUARANTEES, AND INSURANCE.

Section 6(a) of the Export-Import Bank Act of 1945 (12 U.S.C. 635e(a)) is amended--

(1) by redesignating paragraph (3) as paragraph (4); and

(2) by striking paragraph (2) and inserting the following:

`(2) APPLICABLE AMOUNT DEFINED- In this subsection, the term `applicable amount', for each of fiscal years 2015 through 2019, means $135,000,000,000.

`(3) FREEZING OF LENDING CAP IF DEFAULT RATE IS 2 PERCENT OR MORE- If the rate calculated under section 8(g)(1) is 2 percent or more for a quarter, the Bank may not exceed the amount of loans, guarantees, and insurance outstanding on the last day of that quarter until the rate calculated under section 8(g)(1) is less than 2 percent.'.

SEC. 51002. INCREASE IN LOSS RESERVES.

(a) In General- Section 6 of the Export-Import Bank Act of 1945 (12 U.S.C. 635e) is amended--

(1) by redesignating subsection (b) as subsection (c); and

(2) by inserting after subsection (a) the following:

`(b) Reserve Requirement- The Bank shall build to and hold in reserve, to protect against future losses, an amount that is not less than 5 percent of the aggregate amount of disbursed and outstanding loans, guarantees, and insurance of the Bank.'.

(b) Effective Date- The amendment made by subsection (a) shall take effect on the date that is one year after the date of the enactment of this Act.

SEC. 51003. REVIEW OF FRAUD CONTROLS.

Section 17(b) of the Export-Import Bank Reauthorization Act of 2012 (12 U.S.C. 635a-6(b)) is amended to read as follows:

`(b) Review of Fraud Controls- Not later than 4 years after the date of the enactment of the Export-Import Bank Reform and Reauthorization Act of 2015, and every 4 years thereafter, the Comptroller General of the United States shall--

`(1) review the adequacy of the design and effectiveness of the controls used by the Export-Import Bank of the United States to prevent, detect, and investigate fraudulent applications for loans and guarantees and the compliance by the Bank with the controls, including by auditing a sample of Bank transactions; and

`(2) submit a written report regarding the findings of the review and providing such recommendations with respect to the controls described in paragraph (1) as the Comptroller General deems appropriate to--

`(A) the Committee on Banking, Housing, and Urban Affairs and the Committee on Appropriations of the Senate; and

`(B) the Committee on Financial Services and the Committee on Appropriations of the House of Representatives.'.

SEC. 51004. OFFICE OF ETHICS.

Section 3 of the Export-Import Bank Act of 1945 (12 U.S.C. 635a) is amended by adding at the end the following:

`(k) Office of Ethics-

`(1) ESTABLISHMENT- There is established an Office of Ethics within the Bank, which shall oversee all ethics issues within the Bank.

`(2) HEAD OF OFFICE-

`(A) IN GENERAL- The head of the Office of Ethics shall be the Chief Ethics Officer, who shall report to the Board of Directors.

`(B) APPOINTMENT- Not later than 180 days after the date of the enactment of the Export-Import Bank Reform and Reauthorization Act of 2015, the Chief Ethics Officer shall be--

`(i) appointed by the President of the Bank from among persons--

`(I) with a background in law who have experience in the fields of law and ethics; and

`(II) who are not serving in a position requiring appointment by the President of the United States before being appointed to be Chief Ethics Officer; and

`(ii) approved by the Board.

`(C) DESIGNATED AGENCY ETHICS OFFICIAL- The Chief Ethics Officer shall serve as the designated agency ethics official for the Bank pursuant to the Ethics in Government Act of 1978 (5 U.S.C. App. 101 et seq.).

`(3) DUTIES- The Office of Ethics has jurisdiction over all employees of, and ethics matters relating to, the Bank. With respect to employees of the Bank, the Office of Ethics shall--

`(A) recommend administrative actions to establish or enforce standards of official conduct;

`(B) refer to the Office of the Inspector General of the Bank alleged violations of--

`(i) the standards of ethical conduct applicable to employees of the Bank under parts 2635 and 6201 of title 5, Code of Federal Regulations;

`(ii) the standards of ethical conduct established by the Chief Ethics Officer; and

`(iii) any other laws, rules, or regulations governing the performance of official duties or the discharge of official responsibilities that are applicable to employees of the Bank;

`(C) report to appropriate Federal or State authorities substantial evidence of a violation of any law applicable to the performance of official duties that may have been disclosed to the Office of Ethics; and

`(D) render advisory opinions regarding the propriety of any current or proposed conduct of an employee or contractor of the Bank, and issue general guidance on such matters as necessary.'.

SEC. 51005. CHIEF RISK OFFICER.

Section 3 of the Export-Import Bank Act of 1945 (12 U.S.C. 635a), as amended by section 91004, is further amended by adding at the end the following:

`(l) Chief Risk Officer-

`(1) IN GENERAL- There shall be a Chief Risk Officer of the Bank, who shall--

`(A) oversee all issues relating to risk within the Bank; and

`(B) report to the President of the Bank.

`(2) APPOINTMENT- Not later than 180 days after the date of the enactment of the Export-Import Bank Reform and Reauthorization Act of 2015, the Chief Risk Officer shall be--

`(A) appointed by the President of the Bank from among persons--

`(i) with a demonstrated ability in the general management of, and knowledge of and extensive practical experience in, financial risk evaluation practices in large governmental or business entities; and

`(ii) who are not serving in a position requiring appointment by the President of the United States before being appointed to be Chief Risk Officer; and

`(B) approved by the Board.

`(3) DUTIES- The duties of the Chief Risk Officer are--

`(A) to be responsible for all matters related to managing and mitigating all risk to which the Bank is exposed, including the programs and operations of the Bank;

`(B) to establish policies and processes for risk oversight, the monitoring of management compliance with risk limits, and the management of risk exposures and risk controls across the Bank;

`(C) to be responsible for the planning and execution of all Bank risk management activities, including policies, reporting, and systems to achieve strategic risk objectives;

`(D) to develop an integrated risk management program that includes identifying, prioritizing, measuring, monitoring, and managing internal control and operating risks and other identified risks;

`(E) to ensure that the process for risk assessment and underwriting for individual transactions considers how each such transaction considers the effect of the transaction on the concentration of exposure in the overall portfolio of the Bank, taking into account fees, collateralization, and historic default rates; and

`(F) to review the adequacy of the use by the Bank of qualitative metrics to assess the risk of default under various scenarios.'.

SEC. 51006. RISK MANAGEMENT COMMITTEE.

(a) In General- Section 3 of the Export-Import Bank Act of 1945 (12 U.S.C. 635a), as amended by sections 91004 and 91005, is further amended by adding at the end the following:

`(m) Risk Management Committee-

`(1) ESTABLISHMENT- There is established a management committee to be known as the `Risk Management Committee'.

`(2) MEMBERSHIP- The membership of the Risk Management Committee shall be the members of the Board of Directors, with the President and First Vice President of the Bank serving as ex officio members.

`(3) DUTIES- The duties of the Risk Management Committee shall be--

`(A) to oversee, in conjunction with the Office of the Chief Financial Officer of the Bank--

`(i) periodic stress testing on the entire Bank portfolio, reflecting different market, industry, and macroeconomic scenarios, and consistent with common practices of commercial and multilateral development banks; and

`(ii) the monitoring of industry, geographic, and obligor exposure levels; and

`(B) to review all required reports on the default rate of the Bank before submission to Congress under section 8(g).'.

(b) Termination of Audit Committee- Not later than 180 days after the date of the enactment of this Act, the Board of Directors of the Export-Import Bank of the United States shall revise the bylaws of the Bank to terminate the Audit Committee established by section 7 of the bylaws.

SEC. 51007. INDEPENDENT AUDIT OF BANK PORTFOLIO.

(a) Audit- The Inspector General of the Export-Import Bank of the United States shall conduct an audit or evaluation of the portfolio risk management procedures of the Bank, including a review of the implementation by the Bank of the duties assigned to the Chief Risk Officer under section 3(l) of the Export-Import Bank Act of 1945, as amended by section 51005.

(b) Report- Not later than 1 year after the date of the enactment of this Act, and not less frequently than every 3 years thereafter, the Inspector General shall submit to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives a written report containing all findings and determinations made in carrying out subsection (a).

SEC. 51008. PILOT PROGRAM FOR REINSURANCE.

(a) In General- Notwithstanding any provision of the Export-Import Bank Act of 1945 (12 U.S.C. 635 et seq.), the Export-Import Bank of the United States (in this section referred to as the `Bank') may establish a pilot program under which the Bank may enter into contracts and other arrangements to share risks associated with the provision of guarantees, insurance, or credit, or the participation in the extension of credit, by the Bank under that Act.

(b) Limitations on Amount of Risk-Sharing-

(1) PER CONTRACT OR OTHER ARRANGEMENT- The aggregate amount of liability the Bank may transfer through risk-sharing pursuant to a contract or other arrangement entered into under subsection (a) may not exceed $1,000,000,000.

(2) PER YEAR- The aggregate amount of liability the Bank may transfer through risk-sharing during a fiscal year pursuant to contracts or other arrangements entered into under subsection (a) during that fiscal year may not exceed $10,000,000,000.

(c) Annual Reports- Not later than 1 year after the date of the enactment of this Act, and annually thereafter through 2019, the Bank shall submit to Congress a written report that contains a detailed analysis of the use of the pilot program carried out under subsection (a) during the year preceding the submission of the report.

(d) Rule of Construction- Nothing in this section shall be construed to affect, impede, or revoke any authority of the Bank.

(e) Termination- The pilot program carried out under subsection (a) shall terminate on September 30, 2019.

TITLE LII--PROMOTION OF SMALL BUSINESS EXPORTS

SEC. 52001. INCREASE IN SMALL BUSINESS LENDING REQUIREMENTS.

(a) In General- Section 2(b)(1)(E)(v) of the Export-Import Bank Act of 1945 (12 U.S.C. 635(b)(1)(E)(v)) is amended by striking `20 percent' and inserting `25 percent'.

(b) Effective Date- The amendment made by subsection (a) shall apply with respect to fiscal year 2016 and each fiscal year thereafter.

SEC. 52002. REPORT ON PROGRAMS FOR SMALL- AND MEDIUM-SIZED BUSINESSES.

(a) In General- Section 8 of the Export-Import Bank Act of 1945 (12 U.S.C. 635g) is amended by adding at the end the following:

`(k) Report on Programs for Small- and Medium-Sized Businesses- The Bank shall include in its annual report to Congress under subsection (a) a report on the programs of the Bank for United States businesses with less than $250,000,000 in annual sales.'.

(b) Effective Date- The amendment made by subsection (a) shall apply with respect to the report of the Export-Import Bank of the United States submitted to Congress under section 8 of the Export-Import Bank Act of 1945 (12 U.S.C. 635g) for the first year that begins after the date of the enactment of this Act.

TITLE LIII--MODERNIZATION OF OPERATIONS

SEC. 53001. ELECTRONIC PAYMENTS AND DOCUMENTS.

Section 2(b)(1) of the Export-Import Bank Act of 1945 (12 U.S.C. 635(b)(1)) is amended by adding at the end the following:

`(M) Not later than 2 years after the date of the enactment of the Export-Import Bank Reform and Reauthorization Act of 2015, the Bank shall implement policies--

`(i) to accept electronic documents with respect to transactions whenever possible, including copies of bills of lading, certifications, and compliance documents, in such manner so as not to undermine any potential civil or criminal enforcement related to the transactions; and

`(ii) to accept electronic payments in all of its programs.'.

SEC. 53002. REAUTHORIZATION OF INFORMATION TECHNOLOGY UPDATING.

Section 3(j) of the Export-Import Act of 1945 (12 U.S.C. 635a(j)) is amended--

(1) in paragraph (1), in the matter preceding subparagraph (A), by striking `2012, 2013, and 2014' and inserting `2015 through 2019';

(2) in paragraph (2)(B), by striking `(I) the funds' and inserting `(i) the funds'; and

(3) in paragraph (3), by striking `2012, 2013, and 2014' and inserting `2015 through 2019'.

TITLE LIV--GENERAL PROVISIONS

SEC. 54001. EXTENSION OF AUTHORITY.

(a) In General- Section 7 of the Export-Import Bank Act of 1945 (12 U.S.C. 635f) is amended by striking `2014' and inserting `2019'.

(b) Dual-Use Exports- Section 1(c) of Public Law 103-428 (12 U.S.C. 635 note) is amended by striking `September 30, 2014' and inserting `the date on which the authority of the Export-Import Bank of the United States expires under section 7 of the Export-Import Bank Act of 1945 (12 U.S.C. 635f)'.

(c) Sub-Saharan Africa Advisory Committee- Section 2(b)(9)(B)(iii) of the Export-Import Bank Act of 1945 (12 U.S.C. 635(b)(9)(B)(iii)) is amended by striking `September 30, 2014' and inserting `the date on which the authority of the Bank expires under section 7'.

(d) Effective Date- The amendments made by this section shall take effect on the earlier of the date of the enactment of this Act or June 30, 2015.

SEC. 54002. CERTAIN UPDATED LOAN TERMS AND AMOUNTS.

(a) Loan Terms for Medium-Term Financing- Section 2(a)(2)(A) of the Export-Import Bank Act of 1945 (12 U.S.C. 635(a)(2)(A)) is amended--

(1) in clause (i), by striking `; and' and inserting a semicolon; and

(2) by adding at the end the following:

`(iii) with principal amounts of not more than $25,000,000; and'.

(b) Competitive Opportunities Relating to Insurance- Section 2(d)(2) of the Export-Import Bank Act of 1945 (12 U.S.C. 635(d)(2)) is amended by striking `$10,000,000' and inserting `$25,000,000'.

(c) Export Amounts for Small Business Loans- Section 3(g)(3) of the Export-Import Bank Act of 1945 (12 U.S.C. 635a(g)(3)) is amended by striking `$10,000,000' and inserting `$25,000,000'.

(d) Consideration of Environmental Effects- Section 11(a)(1)(A) of the Export-Import Bank Act of 1945 (12 U.S.C. 635i-5(a)(1)(A)) is amended by striking `$10,000,000 or more' and inserting the following: `$25,000,000 (or, if less than $25,000,000, the threshold established pursuant to international agreements, including the Common Approaches for Officially Supported Export Credits and Environmental and Social Due Diligence, as adopted by the Organisation for Economic Co-operation and Development Council on June 28, 2012, and the risk-management framework adopted by financial institutions for determining, assessing, and managing environmental and social risk in projects (commonly referred to as the `Equator Principles')) or more'.

(e) Effective Date- The amendments made by this section shall apply with respect to fiscal year 2016 and each fiscal year thereafter.

TITLE LV--OTHER MATTERS

SEC. 55001. PROHIBITION ON DISCRIMINATION BASED ON INDUSTRY.

Section 2 of the Export-Import Bank Act of 1945 (6 U.S.C. 635 et seq.) is amended by adding at the end the following:

`(k) Prohibition on Discrimination Based on Industry-

`(1) IN GENERAL- Except as provided in this Act, the Bank may not--

`(A) deny an application for financing based solely on the industry, sector, or business that the application concerns; or

`(B) promulgate or implement policies that discriminate against an application based solely on the industry, sector, or business that the application concerns.

`(2) APPLICABILITY- The prohibitions under paragraph (1) apply only to applications for financing by the Bank for projects concerning the exploration, development, production, or export of energy sources and the generation or transmission of electrical power, or combined heat and power, regardless of the energy source involved.'.

SEC. 55002. NEGOTIATIONS TO END EXPORT CREDIT FINANCING.

(a) In General- Section 11 of the Export-Import Bank Reauthorization Act of 2012 (12 U.S.C. 635a-5) is amended--

(1) in subsection (a)--

(A) in the matter preceding paragraph (1), by striking `Secretary of the Treasury (in this section referred to as the `Secretary')' and inserting `President'; and

(B) in paragraph (1)--

(i) by striking `(OECD)' and inserting `(in this section referred to as the `OECD')'; and

(ii) by striking `ultimate goal of eliminating' and inserting `possible goal of eliminating, before the date that is 10 years after the date of the enactment of the Export-Import Bank Reform and Reauthorization Act of 2015,';

(2) in subsection (b), by striking `Secretary' each place it appears and inserting `President'; and

(3) by adding at the end the following:

`(c) Report on Strategy- Not later than 180 days after the date of the enactment of the Export-Import Bank Reform and Reauthorization Act of 2015, the President shall submit to Congress a proposal, and a strategy for achieving the proposal, that the United States Government will pursue with other major exporting countries, including OECD members and non-OECD members, to eliminate over a period of not more than 10 years subsidized export-financing programs, tied aid, export credits, and all other forms of government-supported export subsidies.

`(d) Negotiations With Non-OECD Members- The President shall initiate and pursue negotiations with countries that are not OECD members to bring those countries into a multilateral agreement establishing rules and limitations on officially supported export credits.

`(e) Annual Reports on Progress of Negotiations- Not later than 180 days after the date of the enactment of the Export-Import Bank Reform and Reauthorization Act of 2015, and annually thereafter through calendar year 2019, the President shall submit to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives a report on the progress of any negotiations described in subsection (d).'.

(b) Effective Date- The amendments made by paragraphs (1) and (2) of subsection (a) shall apply with respect to reports required to be submitted under section 11(b) of the Export-Import Bank Reauthorization Act of 2012 (12 U.S.C. 635a-5(b)) after the date of the enactment of this Act.

SEC. 55003. STUDY OF FINANCING FOR INFORMATION AND COMMUNICATIONS TECHNOLOGY SYSTEMS.

(a) Analysis of Information and Communications Technology Industry Use of Bank Products- The Export-Import Bank of the United States (in this section referred to as the `Bank') shall conduct a study of the extent to which the products offered by the Bank are available and used by companies that export information and communications technology services and related goods.

(b) Elements- In conducting the study required by subsection (a), the Bank shall examine the following:

(1) The number of jobs in the United States that are supported by the export of information and communications technology services and related goods, and the degree to which access to financing will increase exports of such services and related goods.

(2) The reduction in the financing by the Bank of exports of information and communications technology services from 2003 through 2014.

(3) The activities of foreign export credit agencies to facilitate the export of information and communications technology services and related goods.

(4) Specific proposals for how the Bank could provide additional financing for the exportation of information and communications technology services and related goods through risk-sharing with other export credit agencies and other third parties.

(5) Proposals for new products the Bank could offer to provide financing for exports of information and communications technology services and related goods, including--

(A) the extent to which the Bank is authorized to offer new products;

(B) the extent to which the Bank would need additional authority to offer new products to meet the needs of the information and communications technology industry;

(C) specific proposals for changes in law that would enable the Bank to provide increased financing for exports of information and communications technology services and related goods in compliance with the credit and risk standards of the Bank;

(D) specific proposals that would enable the Bank to provide increased outreach to the information and communications technology industry about the products the Bank offers; and

(E) specific proposals for changes in law that would enable the Bank to provide the financing to build information and communications technology infrastructure, in compliance with the credit and risk standards of the Bank, to allow for market access opportunities for United States information and communications technology companies to provide services on the infrastructure being financed by the Bank.

(c) Report- Not later than 180 days after the date of the enactment of this Act, the Bank shall submit to Congress a report that contains the results of the study required by subsection (a).

Read part XXIII of  Surface Transportation Reauthorization and Reform Act of 2015

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