S4308Referred to Committee

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

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Introduced
In Committee
3
Passed One Chamber
4
Passed Both
5
Signed into Law
119th
Congress
2026-04-15
Introduced
0
Cosponsors
S
ⓘ
Type

Sponsor

John Kennedy
John Kennedy
Republican · LA · Senator
Votes with party: 33.3% (318 recorded votes)

Full profile: /officials/K000393

Source: Congress.gov · FEC

Cosponsors (0)

Members who have signed on to support this bill since introduction. Source: Congress.gov.

No cosponsors on record. Bills can pass without cosponsors — this often means the sponsor introduced the bill alone, either because it's a messaging bill, a chairman's mark, or simply early in the legislative cycle.

Latest Action

The most recent step in the bill's legislative path. Committee Activity below shows referrals and reports; the full action-by-action history including floor proceedings lives at Congress.gov →

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

2026-04-15

Source: Congress.gov

Committee Activity

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Plain-English Summary

This bill prohibits the Export-Import Bank of the United States from providing financing to a person with seriously delinquent tax debt or for a project in which any participant has seriously delinquent tax debt. The bill allows the President to waive this prohibition if the President (1) determines that there are urgent and compelling circumstances significantly affecting U.S. interests that require the financing to be provided; and (2) submits to Congress, within 30 days after making the determination, a report that includes the rationale for the determination and relevant supporting information.

Plain-English rewrite of the Congressional Research Service summary published on Congress.gov. Cached and reviewed.

Subjects

Foreign Trade and International Finance

Full Bill Text

Verbatim text published on Congress.gov via GovInfo. Use Cmd+F / Ctrl+F to search within this excerpt.

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [S. 4308 Introduced in Senate (IS)] <DOC> 119th CONGRESS 2d Session S. 4308 To prohibit the Export-Import Bank of the United States from providing financing to persons with seriously delinquent tax debt. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES April 15 (legislative day, April 14), 2026 Mr. Kennedy introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs _______________________________________________________________________ A BILL To prohibit the Export-Import Bank of the United States from providing financing to persons with seriously delinquent tax debt. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. PROHIBITION ON FINANCING BY EXPORT-IMPORT BANK OF THE UNITED STATES FOR PERSONS WITH SERIOUSLY DELINQUENT TAX DEBT. Section 2 of the Export-Import Bank Act of 1945 (12 U.S.C. 635) is amended by adding at the end the following: ``(m) Prohibition on Financing for Persons With Seriously Delinquent Tax Debt.-- ``(1) In general.--The Bank may not provide financing to any person with seriously delinquent tax debt or for any project if any person participating in the project has seriously delinquent tax debt. ``(2) Determinations of debt.--For purposes of paragraph (1), the Bank shall determine if a person has seriously delinquent tax debt-- ``(A) using information available through the System for Award Management website and data-analytical approaches; and ``(B) in consultation with the Commissioner of Internal Revenue. ``(3) Waiver.--The President of the United States may waive the prohibition under paragraph (1) with respect to a person if the President-- ``(A) determines that there are urgent and compelling circumstances significantly affecting the interests of the United States that require the financing to be provided; and ``(B) not later than 30 days after making that determination, submits to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives a report that includes the rationale for the determination and relevant information supporting the determination. ``(4) Seriously delinquent tax debt defined.--In this subsection, the term `seriously delinquent tax debt'-- ``(A) means a Federal tax liability that has been assessed by the Secretary of the Treasury under the Internal Revenue Code of 1986 and may be collected by the Secretary by levy or by a proceeding in court; and ``(B) does not include-- ``(i) a debt that is being paid in a timely manner pursuant to an agreement under section 6159 or section 7122 of such Code; ``(ii) a debt with respect to which a collection due process hearing under section 6330 of such Code, or relief under subsection (a), (b), or (f) of section 6015 of such Code, is requested or pending; ``(iii) a debt with respect to which a continuous levy has been issued under section 6331 of such Code (or, in the case of an applicant for employment, a debt with respect to which the applicant agrees to be subject to such a levy); and ``(iv) a debt with respect to which such a levy is released under section 6343(a)(1)(D) of such Code.''. <all>
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