§ 635q. — Establishment of tied aid credit program in United States ExportImport Bank.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC635q]
TITLE 12--BANKS AND BANKING
CHAPTER 6A--EXPORT-IMPORT BANK OF THE UNITED STATES
SUBCHAPTER III--TIED AID CREDIT EXPORT SUBSIDIES
Sec. 635q. Establishment of tied aid credit program in United
States Export-Import Bank
(a) Establishment and elements of program; cooperation with Trade and
Development Agency and private institutions and entities
(1) The Chairman of the Export-Import Bank of the United States
shall establish, within the Export-Import Bank of the United States, a
program of tied aid credits for United States exports.
(2) The program shall be carried out in cooperation with the Trade
and Development Agency and with private financial institutions or
entities, as appropriate.
(3) The program may include--
(A) the combined use of the credits, loans, or guarantees
offered by the Export-Import Bank of the United States with
concessional financing or grants made available under section
635r(d) of this title, by methods including the blending of the
financing of, or parallel financing by, the Bank and the Trade and
Development Agency; and
(B) the combined use of credits, loans, or guarantees offered by
the Bank, with financing offered by private financial institutions
or entities, by methods including the blending of the financing of,
or parallel financing by, the Bank and private institutions or
entities.
(b) Purpose of program
The purpose of the tied aid credit program under this section is to
offer or arrange for financing for the export of United States goods and
services which is substantially as concessional as foreign financing for
which there is reasonable proof that such foreign financing is being
offered to, or arranged for, a bona fide foreign competitor for a United
States export sale.
(c) Fund
The Chairman of the Bank is authorized to establish a fund, as
necessary, for carrying out the tied aid credit program described in
this section.
(d) Availability of concessional financing or grants
Concessional financing or grants made available under section
635r(d) of this title for the purposes of the mixed financing program
established under this section shall be made available in accordance
with the provisions of section 635r(c) of this title.
(Pub. L. 98-181, title VI, Sec. 644, Nov. 30, 1983, 97 Stat. 1264; Pub.
L. 100-418, title II, Sec. 2204(c)(1)(A), Aug. 23, 1988, 102 Stat. 1330;
Pub. L. 102-549, title II, Sec. 202(c)(1), Oct. 28, 1992, 106 Stat.
3658.)
Amendments
1992--Subsec. (a)(2), (3)(A). Pub. L. 102-549 substituted
``Development Agency'' for ``Development Program''.
1988--Subsec. (a)(2). Pub. L. 100-418, Sec. 2204(c)(1)(A)(i),
substituted ``Trade and Development Program'' for ``Agency for
International Development''.
Subsec. (a)(3)(A). Pub. L. 100-418, Sec. 2204(c)(1)(A)(ii),
substituted ``made available under section 635r(d) of this title'' for
``offered by the Agency for International Development'' and ``Trade and
Development Program'' for ``Agency for International Development''.
Subsec. (d). Pub. L. 100-418, Sec. 2204(c)(1)(A)(iii), substituted
``made available under section 635r(d) of this title'' for ``offered by
the Agency for International Development'' and ``section 635r(c) of this
title'' for ``subsections (c) and (d) of section 635r of this title''.
Transition Provisions
Section 2204(d)(2) of Pub. L. 100-418 provided that:
``(A) The Administrator of the Agency for International Development
shall transfer to the Director of the Trade and Development Program [now
Trade and Development Agency] all records, contracts, applications, and
any other documents or information in connection with the functions
transferred by virtue of the amendments made by subsection (c)(1)
[amending sections 635q and 635r of this title].
``(B) All determinations, regulations, and contracts--
``(i) which have been issued, made, granted, or allowed to
become effective by the President, the Agency for International
Development, or by a court of competent jurisdiction, in the
performance of the functions transferred by virtue of the amendments
made by subsection (c)(1), and
``(ii) which are in effect at the time this section takes
effect,
shall continue in effect according to their terms until modified,
terminated, superseded, set aside, or revoked in accordance with the law
by the President, the Director of the Trade and Development Program [now
Trade and Development Agency], or other authorized official, by a court
of competent jurisdiction, or by operation of law.
``(C)(i) The amendments made by subsection (c)(1) shall not affect
any proceedings, including notices of proposed rulemaking, or any
application for any financial assistance, which is pending on the
effective date of this section [Aug. 23, 1988] before the Agency for
International Development in the exercise of functions transferred by
virtue of the amendments made by subsection (c)(1). Such proceedings and
applications, to the extent that they relate to functions so
transferred, shall be continued.
``(ii) Orders shall be issued in such proceedings, appeals shall be
taken therefrom, and payments shall be made pursuant to such orders, as
if this section [amending sections 635q, 635r, and 635s of this title,
section 5314 of Title 5, Government Organization and Employees, and
section 2421 of Title 22, Foreign Relations and Intercourse, and
enacting provisions set out as a note under section 2421 of Title 22]
had not been enacted. Orders issued in any such proceedings shall
continue in effect until modified, terminated, superseded, or revoked by
the Director of the Trade and Development Program [now Trade and
Development Agency] or other authorized official, by a court of
competent jurisdiction, or by operation of law.
``(iii) Nothing in this subparagraph shall be deemed to prohibit the
discontinuance or modification of any such proceeding under the same
terms and conditions and to the same extent that such proceeding could
have been discontinued or modified if this section had not been enacted.
``(iv) The Director of the Trade and Development Program [now Trade
and Development Agency] is authorized to issue regulations providing for
the orderly transfer to the Trade and Development Program of proceedings
continued under this subparagraph.
``(D) With respect to any function transferred by virtue of the
amendments made by subsection (c)(1) and exercised on or after the
effective date of this section [Aug. 23, 1988], reference in any other
Federal law to the Agency for International Development or any officer
shall be deemed to refer to the Trade and Development Program [now Trade
and Development Agency] or other official to which such function is so
transferred.''
Section Referred to in Other Sections
This section is referred to in section 635s of this title.
