22 U.S.C. § 8519 — Reports on certain activities of foreign export credit agencies and of the Export-Import Bank of the United States

submitted 16 years ago by Pub. L. 111-195 to r/title-22-FOREIGN-RELATIONS-AND-INTERCOURSE · 202 words · no verdicts yet

in plain englishAI-generated · not legal advice

The President must report to Congress on foreign export-credit agencies' activities that resemble Iran-sanctionable conduct. The President must update that report as new information comes in. Before the Export-Import Bank co-finances a deal with such an agency, the President must tell Congress who's involved.

(a) Report on foreign export credit agencies. (1) Within 90 days after July 1, 2010, the President must give Congress a report on any activity by a foreign country's export credit agency that is comparable to activities described in section 5(a) or 5(b) of the Iran Sanctions Act of 1996, as amended. (2) The President must update this report as new information about these agencies' activities comes in. (b) Report on certain Export-Import Bank financing. At least 30 days before the deal (or 15 days in extraordinary circumstances), if the Export-Import Bank of the United States approves co-financing — such as loans, guarantees, other credit, insurance, or reinsurance — with a foreign export credit agency named in the report from (a), the President must give Congress a report naming (1) that foreign export credit agency, and (2) who benefits from the financing.

the actual law source: uscode.house.gov ↗public domain

(a) Report on certain activities of export credit agencies of foreign countries

(1) In general

Not later than 90 days after July 1, 2010, the President shall submit to the appropriate congressional committees a report on any activity of an export credit agency of a foreign country that is an activity comparable to an activity described in subsection (a) or (b) of section 5 of the Iran Sanctions Act of 1996, as amended by section 102 of this Act.

(2) Updates

The President shall update the report required by paragraph (1) as new information becomes available with respect to the activities of export credit agencies of foreign countries.

(b) Report on certain financing by the Export-Import Bank of the United States

Not later than 30 days (or, in extraordinary circumstances, not later than 15 days) before the Export-Import Bank of the United States approves cofinancing (including loans, guarantees, other credits, insurance, and reinsurance) in which an export credit agency of a foreign country identified in the report required by subsection (a) will participate, the President shall submit to the appropriate congressional committees a report identifying—

(1)

the export credit agency of the foreign country; and

(2)

the beneficiaries of the financing.

Source credit: (Pub. L. 111–195, title I, § 111, July 1, 2010, 124 Stat. 1339.)

history & why it existsrecord from the source credit

2010Enacted · Pub. L. 111-195 · 124 Stat. 1339

A history note hasn’t been published yet. The record shows enactment by Pub. L. 111-195 on 2010-07-01.

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