HR 2541 · 98th Congress · Foreign Trade and International Finance

Export-Import Bank Act Amendments of 1983

Introduced 1983-04-13· Sponsored by Rep. Neal, Stephen L. [D-NC-5]· House

Bill Progress

Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: For Further Action See H.R.2842.(1983-04-28)

Plain Language Summary

[AI summary unavailable — showing source text] Export-Import Bank Act Amendments of 1983 - Amends the Export-Import Bank Act of 1945 to extend the authority of the Export-Import Bank of the United States until September 30, 1985. Declares that it is the policy of the United States to insist that participants in the Guidelines for Officially Supported Export Credits honor their pledge not to offer "tied aid credit" containing a grant element less than the minimum specified in the Guidelines. Defines "tied aid credit" to mean credit which is: (1) provided for development aid purposes; (2) financed by public funds or, as a mixed credit, partly from public and partly from private funds; and (3) tied to the purchase of exports from the country granting the credit. Declares that the United States shall try to negotiate an increase in the minimum grant element of tied aid credits. Establishes the Competitive Tied Aid Fund. Requires the money in the Fund to be used to cover a portion of the subsidy contained in any credit granted by the Bank. Permits the Bank to extend such credit only if the Board of Directors and the Secretary of the Treasury determine that: (1) the credit will help U.S. exports competing with exports assisted by for…

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