HR 5604 · 97th Congress · Commerce

A bill to encourage exports by facilitating the formation and operation of export trading companies, export trade associations, and the expansion of export trade services generally.

Introduced 1982-02-24· Sponsored by Rep. McDade, Joseph M. [R-PA-10]· House

Bill Progress

Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to Subcommittee on International Economic Policy and Trade.(1982-03-04)

Plain Language Summary

[AI summary unavailable — showing source text] Title I: Export Trading Companies - Export Trading Company Act of 1981 - Directs the Secretary of Commerce to promote export trading companies by providing information and by facilitating contracts between producers of exportable goods and export trading companies. Authorizes any banking organization to invest specified amounts in export trading companies upon notifying, but without obtaining the prior approval of, the appropriate Federal banking agency, if such investment does not cause any export trading company to become a subsidiary of such organization. Allows greater investment by Edge Act Corporations not engaged in banking. Permits any banking organization to invest beyond such limitations with prior approval of the appropriate Federal banking agency. Requires prior notification of such agencies in specified circumstances. Sets forth further limitations on export trading companies and investments by banking organizations. Specifies factors to be taken into consideration by the banking agencies. Permits such agencies to impose conditions in approving applications to invest in export trading companies. Requires such agencies to report to the appropriate congressional committe…

Summarized by Claude AI · Non-partisan · For informational purposes only

Cosponsors (1)

1 Democrat