§8519 — Title 22 Foreign Relations and Intercourse | U.S. Code

Summary

Require the President to send a report to the relevant congressional committees within 90 days after July 1, 2010 about any foreign export credit agency activity that is like the activities in section 5 of the Iran Sanctions Act of 1996 (as amended). The President must update that report when new information arrives. If the Export-Import Bank plans cofinancing (like loans, guarantees, other credits, insurance, or reinsurance) that will include a foreign export credit agency named in that report, the President must notify those congressional committees at least 30 days before approval, or 15 days in extraordinary cases. The notice must name the agency and who will get the financing.

Title 22, §8519

Foreign Relations and Intercourse — Source: USLM XML via OLRC

(a)(1)Not later than 90 days after July 1, 2010, the President shall submit to the appropriate congressional committees a report on any activity of an export credit agency of a foreign country that is an activity comparable to an activity described in subsection (a) or (b) of section 5 of the Iran Sanctions Act of 1996, as amended by section 102 of this Act.

(2)The President shall update the report required by paragraph (1) as new information becomes available with respect to the activities of export credit agencies of foreign countries.

(b)Not later than 30 days (or, in extraordinary circumstances, not later than 15 days) before the Export-Import Bank of the United States approves cofinancing (including loans, guarantees, other credits, insurance, and reinsurance) in which an export credit agency of a foreign country identified in the report required by subsection (a) will participate, the President shall submit to the appropriate congressional committees a report identifying—

(1)the export credit agency of the foreign country; and

(2)the beneficiaries of the financing.

Notes & Related Subsidiaries

Termination of SectionFor termination of section, see section 8551(a) of this title.

Editorial Notes

References in Text

section 5 of the Iran Sanctions Act of 1996, as amended by section 102 of this Act, referred to in subsec. (a)(1), is section 5 of Pub. L. 104–172, as amended by section 102 of Pub. L. 111–195, which is set out as a note under section 1701 of Title 50, War and National Defense.

Executive Documents

Delegation of Functions For delegation of functions of President under this section, see Memorandum of President of the United States, Sept. 23, 2010, 75 F.R. 67025, set out as a note under section 8501 of this title.

§8519 Reports on Certain Activities of Foreign Export Credit Agencies and of the Export-import Bank of the United States