22 U.S.C. § 2185 — Trade credit insurance program for Po-

Page 675 TITLE 22—FOREIGN RELATIONS AND INTERCOURSE § 2185 1 So in original. Probably should be ‘‘has’’. VIII (§ 2349aa et seq.) of subchapter II of this chapter, and references to subchapter II are deemed to exclude such parts. See section 202(b) of Pub. L. 92–226, set out as a note under section 2346 of this title, and sections 2348c and 2349aa–5 of this title. EFFECTIVE DATE OF 1985 AMENDMENT Amendment by Pub. L. 99–83 effective Oct. 1, 1985, see section 1301 of Pub. L. 99–83, set out as a note under sec- tion 2151–1 of this title. § 2185. Trade credit insurance program for Po- land (a) General authority (1) Assurance to Export-Import Bank of repay- ment The President is authorized to provide guar- antees to the Bank for liabilities described in paragraph (2) in order to satisfy the require- ment of section 2(b)(1)(B) of the Export-Import Bank Act of 1945 (12 U.S.C. 635(b)(1)(B)) that the Bank have 1 reasonable assurance of repay- ment. (2) Liabilities which may be guaranteed The liabilities that may be guaranteed under paragraph (1) are liabilities incurred by the Bank in connection with guarantees or insur- ance provided under the Export-Import Bank Act of 1945 [12 U.S.C. 635 et seq.] for financing for transactions involving the export of goods and services for the use of the private sector in Poland. (b) Guarantees available only for short-term guarantees and insurance Guarantees provided under subsection (a) shall be for short-term guarantees and insurance ex- tended by the Bank which shall be repayable within a period not to exceed one year from the date of arrival at the port of importation of the goods and services covered by such guarantees or insurance. (c) Agreement on criteria and procedures Guarantees or insurance extended by the Bank and guaranteed pursuant to subsection (a) shall be provided by the Bank in accordance with cri- teria and procedures agreed to by the Adminis- trator and the Bank. (d) Reserve fund The agreement referred to in subsection (c) shall also provide for the establishment of a re- serve fund by the administering agency, with such funds made available to the reserve as the Administrator deems necessary to discharge li- abilities under guarantees provided under sub- section (a). (e) Discharge of liabilities (1) Funds which may be used Such amounts of the funds made available to carry out part IV of subchapter II of this chap- ter (relating to the economic support fund) as the President determines are necessary may be made available to discharge liabilities under guarantees entered into under sub- section (a). (2) Crediting of subsequent payments To the extent that any of the funds made available pursuant to paragraph (1) are paid out for a claim arising out of liabilities guar- anteed under subsection (a), amounts received after the date of such payment, with respect to such claim, shall be credited to the reserve fund established pursuant to subsection (d), shall be merged with the funds in such reserve, and shall be available for the purpose of pay- ments by the Administrator to the Bank for guarantees under subsection (a). (f) Appropriations action required Commitments to guarantee under subsection (a) are authorized only to the extent and in the amounts provided in advance in appropriations Acts. (g) Limitation on outstanding commitments The aggregate amount of outstanding commit- ments under subsection (a) may not exceed $200,000,000 of contingent liability for loan prin- cipal during any fiscal year. (h) Omitted (i) Administrative and technical assistance The Bank shall provide, without reimburse- ment, such administrative and technical assist- ance to the administering agency as the Bank and the Administrator determine appropriate to assist the administering agency in carrying out this section. (j) Fees and premiums The Bank is authorized to charge fees and pre- miums, in connection with guarantees or insur- ance guaranteed by the administering agency under subsection (a), that are commensurate (in the judgment of the Bank) with the Bank’s ad- ministrative costs and the risks covered by the agency’s guarantees. Any amounts received by the Bank in excess of the estimated costs in- curred by the Bank in administering such guar- antees or insurance— (1) shall be credited to the reserve fund es- tablished pursuant to subsection (d), (2) shall be merged with the funds in such re- serve, and (3) shall be available for the purpose of pay- ments by the administering agency to the Bank for guarantees under subsection (a). (k) Restrictions not applicable Prohibitions on the use of foreign assistance funds for assistance for Poland shall not apply with respect to the funds made available to carry out this section. (l) Expiration of authority The President may not enter into any com- mitments to guarantee under subsection (a) after September 30, 1992. (m) Definitions For purposes of this section— (1) the term ‘‘administering agency’’ means the Agency for International Development; (2) the term ‘‘Administrator’’ means the Ad- ministrator of the Agency for International Development; and (3) the term ‘‘Bank’’ means the Export-Im- port Bank of the United States. (Pub. L. 87–195, pt. I, § 225, as added Pub. L. 101–179, title III, § 304(a), Nov. 28, 1989, 103 Stat. 1312.) Page 676 TITLE 22—FOREIGN RELATIONS AND INTERCOURSE § 2186 Editorial Notes REFERENCES IN TEXT The Export-Import Bank Act of 1945, referred to in subsec. (a)(2), is act July 31, 1945, ch. 341, 59 Stat. 526, which is classified generally to subchapter I (§ 635 et seq.) of chapter 6A of Title 12, Banks and Banking. For complete classification of this Act to the Code, see Short Title note set out under section 635 of Title 12 and Tables. CODIFICATION Subsec. (h) of this section, which required the Admin- istrator and the President of the Bank, every 6 months, to prepare and transmit to the Speaker of the House of Representatives and the Chairman of the Committee on Foreign Relations of the Senate a report on the amount and extension of guarantees and insurance provided by the Bank and guaranteed under this section during the preceding 6-month period, terminated, effective May 15, 2000, pursuant to section 3003 of Pub. L. 104–66, as amended, set out as a note under section 1113 of Title 31, Money and Finance. See, also, page 148 of House Document No. 103–7. Statutory Notes and Related Subsidiaries CONFORMING REFERENCE Pub. L. 101–179, title III, § 304(c), Nov. 28, 1989, 103 Stat. 1314, provided that: ‘‘With respect to Poland, any reference in the Foreign Operations, Export Financing, and Related Programs Appropriations Act, 1990 [Pub. L. 101–167, Nov. 21, 1989, 103 Stat. 1195], to section 224 of the Foreign Assistance Act of 1961 [22 U.S.C. 2184] shall be deemed to be a reference to section 225 of that Act [22 U.S.C. 2185] (as enacted by this section).’’ Executive Documents DELEGATION OF FUNCTIONS For delegation of functions of President under this section, see Ex. Ord. No. 12163, Sept. 29, 1979, 44 F.R. 56673, as amended, set out as a note under section 2381 of this title. § 2186. Loan guarantees to Israel program (a) In general Subject to the terms and conditions of this section, during the period beginning October 1, 1992, and ending September 30, 1997, the Presi- dent is authorized to issue guarantees against losses incurred in connection with loans to Israel made as a result of Israel’s extraordinary humanitarian effort to resettle and absorb im- migrants into Israel from the republics of the former Soviet Union, Ethiopia and other coun- tries. In the event that less than the full amount authorized to be issued under subsection (b) of this section is issued in such period, the author- ity to issue the balance of such guarantees shall be available in the fiscal year ending on Sep- tember 30, 1998. (b) Fiscal year levels The President is authorized to issue guaran- tees in furtherance of the purposes of this sec- tion. Subject to subsection (d), the total prin- cipal amount of guarantees which may be issued by the President under this section shall be up to $10,000,000,000 which may be issued as follows: (1) in fiscal year 1993, up to $2,000,000,000 may be issued on October 1, 1992 or thereafter; (2) subject to subsection (d), in fiscal years 1994 through 1997, up to $2,000,000,000 in each fiscal year may be issued on October 1 or thereafter. (3) If less than the full amount of guarantees authorized to be made available in a fiscal year pursuant to paragraphs (1) and (2) of this subsection is issued to Israel during that fiscal year, the authority to issue the balance of such guarantees shall extend to any subse- quent fiscal year ending on or before Sep- tember 30, 1998. (4)(A) Not later than September 1 of each year during the period in which the President is authorized to issue loan guarantees under subsection (a), beginning in fiscal year 1993, the President shall notify the appropriate con- gressional committees in writing of his inten- tions regarding the exercise of that authority for the fiscal year beginning on October 1 of that year, including a statement of the total principal amount of guarantees, if any, that the President proposes to issue for that fiscal year. (B) For purposes of this paragraph, the term ‘‘appropriate congressional committees’’ means the Committee on Appropriations and the Committee on Foreign Relations of the Senate and the Committee on Appropriations and the Committee on Foreign Affairs of the House of Representatives. (c) Use of guarantees Guarantees may be issued under this section only to support activities in the geographic areas which were subject to the administration of the Government of Israel before June 5, 1967. (d) Limitation on guarantee amount The amount of authorized but unissued guar- antees that the President is authorized to issue as specified in subsection (b) shall be reduced by an amount equal to the amount extended or es- timated to have been extended by the Govern- ment of Israel during the previous year for ac- tivities which the President determines are in- consistent with the objectives of this section or understandings reached between the United States Government and the Government of Israel regarding the implementation of the loan program. The President shall submit a report to Congress no later than September 30 of each fis- cal year during the pendency of the program specifying the amount calculated under this subsection and that will be deducted from the amount of guarantees authorized to be issued in the next fiscal year. (e) Fees (1) Fees charged for the loan guarantee pro- gram under this section each year shall be an aggregate annual origination fee equal to the es- timated subsidy cost of the guarantees issued under this section for that year, calculated by the Office of Management and Budget for the Federal Credit Reform Act of 1990 [2 U.S.C. 661 et seq.]. This shall also include an amount for the administrative expenses of the Agency for Inter- national Development in administering the pro- gram under this section. All such fees shall be paid by the Government of Israel to the Govern- ment of the United States. Funds made avail- able for Israel under part 4 of subchapter II of this chapter, may be utilized by the Government