A bill to prohibit the Export-Import Bank of the United States from providing financing to persons with seriously delinquent tax debt.

This bill would prohibit the Export-Import Bank of the United States from providing financing to individuals with seriously delinquent tax debt or for projects involving participants with such debt. The President would be permitted to waive this restriction if urgent and compelling circumstances significantly affecting U.S. interests require the financing. In the event of a waiver, the President must submit a report to Congress within 30 days explaining the rationale and providing supporting information for the decision.

This bill affects the Export-Import Bank of the United States, which would be prohibited from providing financing to certain entities. It specifically impacts individuals or organizations with seriously delinquent tax debt, as well as participants in projects where any member has such debt. Additionally, the President is affected by new requirements to report to Congress when waiving these prohibitions for urgent national interests.

• Prohibition on financing for persons with delinquent tax debt. The bill prevents the Export-Import Bank of the United States from providing financial assistance to any individual or entity with seriously delinquent tax debt.
• Restriction on financing for projects with tax-delinquent participants. The Export-Import Bank is prohibited from providing financing for any project in which a participant is identified as having seriously delinquent tax debt.
• Presidential waiver authority for urgent circumstances. The President may waive the financing prohibition if it is determined that urgent and compelling circumstances significantly affecting U.S. interests require the support.
• Congressional reporting requirements for waivers. If a waiver is granted, the President must submit a report to Congress within 30 days explaining the rationale and providing supporting information for the determination.

This bill places new restrictions on the existing financing authorities of the Export-Import Bank of the United States by prohibiting the agency from supporting individuals or projects involving seriously delinquent tax debt.

The bill aims to restrict the Export-Import Bank of the United States from extending financial assistance to individuals or projects involving participants with seriously delinquent tax debt, while providing a presidential waiver for urgent circumstances affecting U.S. interests.