Page:United States Statutes at Large Volume 107 Part 2.djvu/826

 107 STAT. 1776 PUBLIC LAW 103-160—NOV. 30, 1993 (2) The term "family members" has the meaning given such term in section 1072(c)(2) of the National Defense Authorization Act for Fiscal Year 1993 (Public Law 102-484; 106 Stat. 2510; 10 U.S.C. 133 note). (d) APPLICABILITY TO COAST GUARD.— The Secretary of Transportation shall implement with respect to the Coast Guard the requirements that are imposed by this section on the Secretary of Defense and the Inspector General of the Department of Defense. SEC. 1186. EXPORT LOAN GUARANTEES. (a) AUTHORITY TO PROVIDE LOAN GUARANTEES.— Subject to subsection (b) and subject to the availability of appropriations for this purpose, the President may carry out a program to issue guarantees during fiscal year 1994 against the risk of nonpayment arising out of loan financing of the sale of defense articles and defense services to any member nation of the North Atlantic Treaty Organization (other than the United States), Israel, Australia, Japan, or the Republic of Korea. The aggregate amount guaranteed under this section in such fiscal year may not exceed $1,000,000,000. (b) CERTIFICATION OF INTENT TO USE AUTHORITY. —The President may not issue guarantees under the loan guarantee program unless, not later than the end of the 180-day period beginning on the date of the enactment of this Act, the President certifies to Congress that— (1) the President intends to issue loan guarantees under the loan guarantee program; (2) the exercise of the authority provided under the program is consistent with the objectives of the Arms Export Control Act (22 U.S.C. 2751 et seq.); and (3) the exercise of the authority provided under the program is consistent with the policy of the United States regarding conventional arms sales and nonproliferation goals. (c) PROHIBITION ON USE OF CERTAIN FUNDS. —None of the funds authorized to be appropriated in this Act and made available for defense conversion, reinvestment, and transition assistance programs (as defined in section 1302(c)) may be used to finance the subsidy cost of loan guarantees issued under this section. (d) TERMS AND CONDITIONS.— (1) In issuing guarantees under the loan guarantee program for medium- and long-term loans for sales of defense articles or defense services, the President may not offer terms and conditions more beneficial than would be provided by the Export-Import Bank of the United States under similar circumstances in conjunction with the provision of guarantees for nondefense articles and services. (2) The issuance of loan guarantees for exports under the loan guarantee program shall be subject to all United States Government review procedures for arms sales to foreign governments and shall be consistent with United States policy on arms sales to those nations referred to in subsection (a). (e) SUBSIDY COST AND FUNDING.— (1) There is authorized to be appropriated for fiscal year 1994, $25,000,000 for the subsidy cost of the loan guarantees issued under this section. (2) Funds authorized to be available for the Export-Import Bank of the United States may not be used for the execution of the loan guarantee program. (f) EXECUTIVE AGENCY.— The Department of Defense shall be the executive agency responsible for administration of the loan

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