S. 4308

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[S. 4308 Introduced in Senate (IS)]

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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.''.
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