To expand the limited prohibition against the financing, by the Export-Import Bank of the United States, of the export of defense articles or services.

Amends the Export-Import Bank Act of 1945 to prohibit, except under specified circumstances, the Export-Import Bank from using any of its funds or borrowing authority to extend credit for the sale of defense articles and services to any country. (Currently, only to economically less developed countries.)

 
 HR 1635 IH
102d CONGRESS
1st Session
 H. R. 1635
To expand the limited prohibition against the financing, by the Export-Import
Bank of the United States, of the export of defense articles or services.
IN THE HOUSE OF REPRESENTATIVES
March 22, 1991
Mr. MOODY introduced the following bill; which was referred jointly to the
Committees on Banking, Finance and Urban Affairs and Foreign Affairs
A BILL
To expand the limited prohibition against the financing, by the Export-Import
Bank of the United States, of the export of defense articles or services.
  Be it enacted by the Senate and House of Representatives of the United
  States of America in Congress assembled,
SECTION 1. EXPANSION OF LIMITED PROHIBITION AGAINST THE FINANCING, BY THE
EXPORT-IMPORT BANK OF THE UNITED STATES, OF THE EXPORT OF DEFENSE ARTICLES
OR SERVICES.
  (a) IN GENERAL- Section 2(b)(6)(A) of the Export-Import Bank Act of 1945
  (12 U.S.C. 635(b)(6)(A)) is amended to read as follows:
  `(6)(A) Notwithstanding any other provision of law, the Bank shall not,
  except as provided in subparagraph (B), use any funds or borrowing authority
  to participate in the extension of credit in connection with any agreement
  to sell defense articles and services entered into with any country.'.
  (b) CONFORMING REPEAL AND AMENDMENT-
  (1) REPEAL- Section 32 of the Arms Export Control Act (22 U.S.C. 2772)
  is hereby repealed.
  (2) AMENDMENT- Section 2(b)(6)(B) of the Export-Import Bank Act of 1945
  (12 U.S.C. 635(b)(6)(B)) is amended by striking `, and section 32 of the
  Arms Export Control Act,'.