Page:United States Statutes at Large Volume 120.djvu/3307

 120 STAT. 3276

President. Deadline.

PUBLIC LAW 109–438—DEC. 20, 2006

the appeal in writing not later than 20 days after the meeting at which the Board of Directors considered the application. ‘‘(V) The Bank shall not grant final approval of an application for any tied aid credit (or a commitment letter based on that approval) if the President of the United States, after consulting with the President of the Bank and the Secretary, determines within 30 days of an appeal by the Secretary under subclause (IV) that the extension of the tied aid credit would materially impede achieving the purposes described in subsection (a)(6). If no such Presidential determination is made during the 30-day period, the approval by the Bank of the application (or related commitment letter) that was the subject of such appeal shall become final.’’. (b) CLARIFICATION OF USE OF TIED AID CREDIT FUND TO MATCH.—Section 10 of the Export-Import Bank Act of 1945 (12 U.S.C. 635i–3) is amended— (1) in subsection (a), in paragraph (6)— (A) in the matter preceding subparagraph (A), by inserting ‘‘, including those that are not a party to the Arrangement,’’ after ‘‘countries’’; (B) in subparagraph (B), by adding ‘‘and’’ at the end; and (C) by inserting after subparagraph (B) the following: ‘‘(C) promoting compliance with Arrangement rules among foreign export credit agencies that are not a party to the Arrangement;’’; and (2) in subsection (b), in paragraph (5)(B)— (A) in clause (i)— (i) in subclause (I), by striking ‘‘and’’ and by inserting ‘‘, and to seek compliance by those countries that are not a party to the Arrangement’’ before the period; and (ii) in subclause (III), by adding at the end the following: ‘‘In cases where information about a specific offer of foreign tied aid (or untied aid used to promote exports as if it were tied aid) is not available in a timely manner, or is unavailable because the foreign export credit agency involved is not subject to the reporting requirements under the Arrangement, then the Bank may decide to use the Tied Aid Credit Fund based on credible evidence of a history of such offers under similar circumstances or other forms of credible evidence.’’. SEC. 11. PROHIBITION ON ASSISTANCE TO DEVELOP OR PROMOTE CERTAIN RAILWAY CONNECTIONS AND RAILWAYRELATED CONNECTIONS.

Section 2(b) of the Export-Import Act of 1945 (12 U.S.C. 635(b)) is amended by adding at the end the following new paragraph: ‘‘(13) PROHIBITION ON ASSISTANCE TO DEVELOP OR PROMOTE CERTAIN RAILWAY CONNECTIONS AND RAILWAY-RELATED CONNECTIONS.—The Bank shall not guarantee, insure, or extend (or participate in the extension of) credit in connection with the export of

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