No official summary available for this bill.
[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 10323 Introduced in House (IH)]
<DOC>
118th CONGRESS
2d Session
H. R. 10323
To modify the prohibition on financing in the Export-Import Bank of the
United States, and for other purposes.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
December 6, 2024
Mr. Nickel (for himself and Mr. Clyburn) introduced the following bill;
which was referred to the Committee on Financial Services
_______________________________________________________________________
A BILL
To modify the prohibition on financing in the Export-Import Bank of the
United States, and for other purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Civil Nuclear Export Act of 2024''.
SEC. 2. MODIFICATION OF POWERS AND FUNCTIONS OF THE EXPORT-IMPORT BANK
OF THE UNITED STATES.
Section 2(b)(5) of the Export-Import Bank Act of 1945 (12 U.S.C.
635(b)(5)) is amended by inserting after the 1st sentence the
following: ``Notwithstanding clause (C) of the preceding sentence, the
Bank may guarantee, insure, or extend credit or participate in the
extension of credit in connection with any purchase of, or work
associated with the development of, civil nuclear reactors, the export
of which is otherwise permitted under an agreement made in accordance
with section 123 of the Atomic Energy Act of 1954 (42 U.S.C. 2153) or
any other applicable law of the United States.''.
SEC. 3. EXPANSION OF PROGRAM ON CHINA AND TRANSFORMATIONAL EXPORTS.
Section 2(l)(1)(B) of the Export-Import Bank Act of 1945 (12 U.S.C.
635(l)(1)(B)) is amended--
(1) by redesignating clause (xi) as clause (xii); and
(2) by inserting after clause (x) the following:
``(xi) Civil nuclear reactors, including
equipment, material, technologies, information,
and related goods and services.''.
SEC. 4. NUCLEAR LIABILITY COVERAGE.
Section 2 of the Export-Import Bank Act of 1945 (12 U.S.C. 635) is
amended by adding at the end the following:
``(m) Nuclear Liability Coverage.--
``(1) In general.--If there is a claim determination, the
Secretary of the Treasury shall, subject to paragraph (2), pay
the claim determination and any related costs from the general
fund of the Treasury, if--
``(A) the damage is determined to have resulted
from a nuclear incident at a nuclear facility that
received financial support from the Bank; and
``(B) the country in which the nuclear facility is
located was a party to the Convention on Supplementary
Compensation for Nuclear Damage at the time of the
initial disbursement of the financial support.
``(2) Maximum amount.--Any claim determination or related
costs paid under paragraph (1) with respect to a nuclear
incident may not exceed, in the aggregate, the maximum amount
of indemnification under section 170(d)(2)(B) of the Atomic
Energy Act of 1954 (42 U.S.C. 2210(d)(2)(B)) for the nuclear
incident (including for this purpose, legal costs approved by
the Bank).
``(3) Presidential authority to authorize payments.--To the
extent that the aggregate amount of claim determinations and
related costs resulting from a nuclear incident exceeds the
maximum amount described in paragraph (2), the President may
authorize, under such terms and conditions as the President may
direct, the payment of the claim determinations and related
costs, not exceeding an additional aggregate amount equal to
the amount set forth in paragraph (2), from the general fund of
the Treasury.
``(4) Certification to congress.--If a payment is not
authorized under paragraph (3) or the total amount of payments
so authorized are insufficient to satisfy the aggregate amount
of claim determinations, the President shall certify the claim
determinations to the Congress for appropriation of the
necessary funds.
``(5) Interpretation.--In this subsection:
``(A) Claim determination.--The term `claim
determination' means a judgment against the Bank or
settlement by the Bank resulting from a claim relating
to nuclear damage.
``(B) Nuclear damage.--The term `nuclear damage'
means any of the following:
``(i) Loss of life or personal injury.
``(ii) Loss of, or damage to, property.
``(iii) To the extent determined by the
relevant court, any of the following:
``(I) Economic loss arising from
loss or damage referred to in clause
(i) or (ii), insofar as not included in
those clauses, if incurred by a person
entitled to claim in respect of the
loss or damage.
``(II) The costs of measures to
reinstate impaired environment, unless
the impairment is insignificant, if the
measures are actually taken or to be
taken, and insofar as not included in
clause (ii).
``(III) Loss of income deriving
from an economic interest in any use or
enjoyment of the environment, incurred
as a result of significant impairment
of the environment, and insofar as not
included in clause (ii).
``(IV) The costs of preventive
measures, and further loss or damage
caused by the measures.
``(V) Any other economic loss, if
permitted by the general law on civil
liability law of the country in which
the nuclear incident occurs, to the
extent that the loss or damage arises
out of or results from ionizing
radiation emitted by any source of
radiation inside a nuclear
installation, or emitted from nuclear
fuel or radioactive products or waste
in, or of nuclear material coming from,
originating in, or sent to, a nuclear
installation, whether so arising from
the radioactive properties of such
matter, or from a combination of
radioactive properties with toxic,
explosive, or other hazardous
properties of such matter.
``(C) Nuclear incident.--The term `nuclear
incident' means any occurrence or series of occurrences
having the same origin which causes nuclear damage or,
but only with respect to preventive measures, creates a
grave and imminent threat of causing the damage.''.
SEC. 5. MODIFICATION OF LENDING CAP.
(a) In General.--Section 6(a) of the Export-Import Bank Act of 1945
(12 U.S.C. 635e(a)) is amended--
(1) in paragraph (1), by striking ``applicable amount.''
and inserting ``applicable amount, unless the aggregate amount
that is in excess of the applicable amount--
``(A) is attributed by the Bank to loans,
guarantees, and insurance under the Program on China
and Transformational Exports pursuant to section 2(l);
and
``(B) does not exceed $50,000,000,000.'';
(2) in paragraph (3)--
(A) in the header, by striking ``2'' and inserting
``4''; and
(B) by striking ``2 percent'' each place it appears
and inserting ``4 percent''; and
(3) by adding at the end the following:
``(5) Authority to attribute loans, guarantees, and
insurance.--The Bank may attribute any loan, guarantee, or
insurance issued under the Program on China and
Transformational Exports pursuant to section 2(l) toward the
aggregate amount that is in excess of the applicable amount
described in paragraph (1) of this subsection without regard to
the date on which the Bank issued such loan, guarantee, or
insurance.''.
(b) Modification of Monitoring of Default Rates.--Section 8(g) of
the Export-Import Bank Act of 1945 (12 U.S.C. 635g(g)) is amended--
(1) in paragraph (3), by striking ``2 percent'' each place
it appears and inserting ``4 percent'';
(2) in paragraph (4)(B), by striking ``2 percent'' and
inserting ``4 percent'';
(3) in paragraph (5)--
(A) in the header, by striking ``2'' and inserting
``4''; and
(B) by striking ``2 percent'' and inserting ``4
percent'';
(4) in paragraph (6), by striking ``2 percent'' and
inserting ``4 percent''; and
(5) by adding at the end the following:
``(7) Exclusion of transactions relating to the program on
china and transformational exports.--For the purposes of this
subsection, if financing provided under the Program on China
and Transformational Exports pursuant to section 2(l) results
in the default rate calculated under paragraph (1) of this
subsection equaling or exceeding 4 percent, the Bank may
exclude such financing, subject to the approval of the Board of
Directors.''.
<all>
Introduced in House
Introduced in House
Referred to the House Committee on Financial Services.
Llama 3.2 · runs locally in your browser
Ask anything about this bill. The AI reads the full text to answer.
Enter to send · Shift+Enter for new line