H.R. 3847: Export-Import Bank Reform Act

114th Congress · introduced 2015-10-28 · Foreign Trade and International Finance · Latest: Referred to the House Committee on Financial Services.

federal

Follow this bill, step by step

Where it came from: introduced 2015-10-28 · official record
Who proposed it: Rep. Issa, Darrell E. [R-CA-49] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Referred to the House Committee on Financial Services. Not final yet: this can still change. We check for updates every day.
If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

Export-Import Bank Reform Act

Plain summary

Reform Exports and Expand the American Economy Act This bill amends the Export-Import Bank Act of 1945 to require the Board of Governors of the Federal Reserve System to report to Congress: (1) semiannually on the terms and conditions (including interest rates, maturities, and credit standards) that private financial institutions apply in providing export finance; and (2) annually on the steps the Bank has taken to adjust the pricing of products offered, and the credit standards used, to avoid crowding out private export finance. The Bank's Board of Directors must include in their annual report to Congress any recommendations about countries with whom and in which it should not be doing business. The Chief Ethics Officer shall draft a Code of Ethics prescribing strict and definite standards of official conduct for all Bank directors, officers, and employees, including conflict-of-interest prohibitions. If the Bank issues any report to Congress or any congressional committee containing accounting information that is not prepared using generally accepted accounting principles (GAAPs), the Bank must issue a second report with the same accounting information prepared using GAAPs. The Bank shall be lender of last resort to privately owned foreign applicants (other than financial institutions), which must first try to obtain competitive financing for the transaction in question without support from the Overseas Private Investment Corporation or the Small Business Administration. Bank directors who are neither Chairman nor Vice Chairman of the Board shall constitute the Board's Audit Committee. The President must report to specified congressional committees on Bank programs that may be fully or partially privatized. The Bank's Inspector General shall audit the Bank's portfolio risk management procedures, including its implementation of the duties assigned to the Chief Risk Officer. The Bank must retain at least 30% of total net earnings as a provision for possible losses. Two terms shall be the term limit for any Bank President. The absolute limit, regardless of fiscal year, for the aggregate amount of outstanding Bank loans, guarantees, and insurance, shall be $130 billion. The requirement that the Bank urge the Foreign Credit Insurance Association to cover 100% of any loss with respect to exports valued at less than $100,000 is repealed. Bank policies must give fair consideration to making loans and providing guarantees for the export of goods and services by medium-sized enterprises. The authority of the President under the Enterprise for the Americas Initiative to sell, reduce, or cancel certain loans for the debt relief of eligible countries in Latin America and the Caribbean is repealed. The Bank shall adjust all dollar amounts specified in the Export-Import Bank Act of 1945 for inflation.

Congressional Research Service summary (Introduced in House), quoted unchanged (nonpartisan). Read the source.

What a vote does

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A “Nay” vote

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What does this mean? (plain words)

Official text

Export-Import Bank Reform Act

Source: Congressional Research Service summary (Introduced in House)

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Rep. Issa, Darrell E. [R-CA-49] · 2 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Sponsor's campaign money: Rep. Issa, Darrell E. [R-CA-49] reported raising $2.2 million (2025–2026). Details. Shown for context only; it does not mean any donor supported this bill.

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Words on this page, explained (3)

Ballot initiative: A proposed law or constitutional amendment that citizens place on the ballot by gathering enough voter signatures, so voters decide it directly. About half the states allow some form of it.
Bill: A proposed law. It becomes law only if it passes the legislature and is signed by the president or governor (or a veto is overridden).
Fiscal year: The 12-month period a government uses for its budget. The federal fiscal year runs from October 1 to September 30 and is named for the calendar year in which it ends. Most states use July 1 to June 30.

Plain meanings written from linked sources. All words.

Sources

Congressional Research Service summary (Introduced in House)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-114hr3847.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/114/hr>

Record fed-us-cong114-hr3847 · catalog fed-us-congress-bills-cong114 · updated 2026-11-15 by psicol fed-bills-cong114