Competitive Tied Aid Fund Act

(Reported to House from the Committee on Foreign Affairs with amendment, H. Rept. 99-457 (Part II))

Competitive Tied Aid Fund Act - Amends the Export-Import Bank Act of 1945 to require the Secretary of the Treasury to establish a Competitive Tied Aid Fund in the Treasury. Authorizes using the Fund to make available to U.S. exporters financing which is competitive with the advantageous financing provided to their competitors from countries engaging in predacious official export financing and to supplement the financing of U.S. exports to foreign markets which are actual or potential export markets for any country that: (1) engages in predacious official export financing through the use of tied or partially untied aid credits; and (2) impedes negotiations to eliminate the use of such credits for commercial purposes. Declares that the Secretary: (1) should avoid using the Fund to finance only one or two export projects; (2) should seek to use the Fund to finance only U.S. exports that would be reasonably competitive in the absence of the predatory export financing practices of the other country; and (3) shall ensure that the Fund is used only to assist certain U.S. entities or entities wholly owned by U.S. citizens.

Authorizes the amounts in the Fund to be used only with the approval of a majority of the members of the National Advisory Council on International Monetary and Financial Policies (the Council). Sets forth the duties of the Council.

Directs the Secretary to report on a quarterly basis to the Congress on the activities carried out under this Act.

Requires the Export-Import Bank, until the funds authorized by this Act become available for expenditure, to make aggressive use of tied aid credits. Requires the Bank to be reimbursed for the cost of any such credits.

Authorizes appropriations to the Fund for FY 1987.

Terminates the authorities (relating to mixed credit programs) contained in this Act and the Trade and Development Enhancement Act of 1983 when the Secretary certifies to the Congress that a majority of the members of the Council have determined that: (1) the United States has reached an agreement with member countries of the Organization for Economic Cooperation and Development which ends abuses of tied and partially united aid credits; and (2) those countries are honoring the agreement.

Amends the Trade and Development Enhancement Act of 1983 to eliminate the limitation on the type of funds that the Agency for International Development may use to support mixed credits.