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Week Ending December 8, 2006

S.3938 An original bill to reauthorize the Export-Import Bank of the United States.

The Congressionally created Export Import Bank provides financing for a number of import and export schemes. This bill reauthorizes the Bank.

The Sub-Saharan Africa Advisory Committee is extended through 2011 as is the authority to provide financing for the export of non-lethal defense articles of services that have a primary end use for civilian purposes.

The President of the Bank is required to report to Congress on sensitive commercial sectors and products with respect to the provision of financing support if such support is deemed unlikely due to the potential for an adverse economic impact on the US.

A small business division is to be established to outreach to small businesses and facilitate their export interests.

Bank guarantees, insurance or extensions of funds are prohibited from being used in the development of promotion of any railway connection or railway-related connection that does not traverse or connect with Armenia and does traverse or connect Baku, Azerbaijan, Tbilisi, Georgia and Kars, Turkey.

One amendment eliminated the requirement that the Bank seek comments from the International Trade Commission.

Sponsor:  Senator Mike Crapo (ID)

Vote: Passed Senate December 6, 2006 by Unanimous Consent. Passed House by voice vote December 6, 2006

Cost to the taxpayers: No cost data given.

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