A bill to prohibit the Export-Import Bank of the United States from providing financing to persons with seriously delinquent tax debt.

No Ex-Im financing for tax-delinquent businesses

If enacted, the bill would bar the Export-Import Bank from providing financing to any person who has "seriously delinquent tax debt." It would also bar financing for any project if any project participant has such debt. The Bank would determine delinquency using the System for Award Management (SAM), data-analytical approaches, and consultation with the Commissioner of Internal Revenue. "Seriously delinquent tax debt" would mean an assessed federal tax liability that the IRS can collect by levy or court, but the bill would exclude debts being paid under an installment agreement (section 6159) or an offer-in-compromise (section 7122); debts with a pending collection due process hearing (section 6330) or certain relief requests under section 6015(a),(b),(f); debts subject to a continuous levy under section 6331 (including when an employment applicant agrees to such a levy); and debts with levies released under section 6343(a)(1)(D). The President could waive the prohibition for urgent and compelling circumstances affecting U.S. interests, but would have to send a report with the rationale and supporting information to the Senate Committee on Banking, Housing, and Urban Affairs and the House Committee on Financial Services within 30 days. If enacted, the rule would take effect upon enactment.