Regional Export Promotion Act of 2026

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [S. 4820 Introduced in Senate (IS)]

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119th CONGRESS 2d Session S. 4820

To amend the Export-Import Bank Act of 1945 to codify and expand the Regional Export Promotion Program of the Export-Import Bank of the United States.

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IN THE SENATE OF THE UNITED STATES

June 17, 2026

Ms. Alsobrooks (for herself and Mr. McCormick) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs

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A BILL

To amend the Export-Import Bank Act of 1945 to codify and expand the Regional Export Promotion Program of the Export-Import Bank of the United States.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

This Act may be cited as the ``Regional Export Promotion Act of 2026''.

SEC. 2. CODIFICATION OF REGIONAL EXPORT PROMOTION PROGRAM.

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) Regional Export Promotion Program.-- ``(1) In general.--The Bank shall carry out a Regional Export Promotion Program (in this subsection referred to as the `Program') under which the Bank works in partnership with eligible members from regions of the United States to expand export opportunities for businesses in those regions. ``(2) Eligible members.--For purposes of the Program, eligible members are State, county, and local nonprofit economic development entities, including-- ``(A) State, county, and city governments; ``(B) local nonprofit economic development entities funded through institutions of higher education; ``(C) small business development centers established pursuant to section 21 of the Small Business Act (15 U.S.C. 648); and ``(D) world trade centers.''.

SEC. 3. PILOT PROGRAM TO EXPAND FOCUS OF REGIONAL EXPORT PROMOTION PROGRAM ON SMALL BUSINESSES.

(a) In General.--Subsection (m) of section 2 of the Export-Import Bank Act of 1945, as added by section 2, is further amended by adding at the end the following: ``(3) Pilot program to expand focus of program on small businesses.-- ``(A) In general.--The Bank shall implement a pilot program to expand the Program to increase the footprint of the Bank in regions with high concentrations of small business concerns. ``(B) Priority for certain entities.--In selecting new partners for the Program under the pilot program required by subparagraph (A), the Bank shall prioritize entering into agreements with-- ``(i) State and local economic development agencies serving HUBZones (as defined in section 31(b) of the Small Business Act (15 U.S.C. 657a(b))); ``(ii) community development financial institutions (as defined in section 103 of the Community Development Banking and Financial Institutions Act of 1994 (12 U.S.C. 4702)); ``(iii) minority depository institutions (as defined in section 308 of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (Public Law 101-73; 12 U.S.C. 1463 note)); ``(iv) local chambers of commerce; and ``(v) local community banks and credit unions. ``(C) Assistance.--Under the pilot program required by subparagraph (A), the Bank shall provide-- ``(i) specialized training and marketing collateral; ``(ii) short-term export credit insurance products specifically designed for small business accounts; and ``(iii) in the case of entities that have not used products of the Bank before, streamlined application processes. ``(D) Duration.--The pilot program required by subparagraph (A) shall terminate on the date that is 5 years after the pilot program commences. ``(E) Small business concern defined.--In this subsection, the term `small business concern' has the meaning given that term in section 3 of the Small Business Act (15 U.S.C. 632).''. (b) Report to Congress.--Not later than one year after the commencement of the pilot program required by paragraph (3) of section 2(m) of the Export-Import Bank Act of 1945, as added by subsection (a), and annually thereafter for 5 years, the President of the Export-Import Bank of the United States shall submit 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-- (1) detailing the number of new regular partners of the Bank developed under the pilot program, disaggregated by entity type; (2) detailing the total volume and dollar amount of Bank products utilized by small business concerns (as defined in section 3 of the Small Business Act (15 U.S.C. 632)) as a direct result of referrals from those partners; (3) assessing the elements of the pilot program that were most successful and the elements that could use improvement; and (4) making recommendations with respect to whether new appropriations or other funding for the pilot program would be helpful or would have made the pilot program more successful. <all>