AN
ACT Relating to the small business export finance assistance center; and
amending RCW 43.210.020, 43.210.030, and 43.210.040.
BE IT
ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:
Sec.
1. RCW
43.210.020 and 1990 1st ex.s. c 17 s 66 are each amended to read as follows:
A
nonprofit corporation, to be known as the small business export finance
assistance center, and branches subject to its authority, may be formed under
chapter 24.03 RCW for the following public purposes:
(1)
To assist small and medium-sized businesses in both urban and rural areas in
the financing of export transactions.
(2)
To provide, singly or in conjunction with other organizations, information and
assistance to these businesses about export opportunities and financing
alternatives.
(((3)
To provide information to and assist those businesses interested in exporting
products, including the opportunities available to them in organizing export
trading companies under the United States export trading company act of 1982,
for the purpose of increasing their comparative sales volume and ability to
export their products to foreign markets.))
Sec.
2. RCW
43.210.030 and 1995 c 399 s 106 are each amended to read as follows:
The small business export finance assistance center and its
branches shall be governed and managed by a board of ((nineteen)) seven
directors appointed by the governor, with the advice of the board, and
confirmed by the senate. The directors shall serve terms of ((six years
except that two of the original directors shall serve for two years and two of
the original directors shall serve for)) four years following the terms
of service established by the initial appointments after the effective date of
this section. Three appointees, including directors on the effective date of
this section who are reappointed, must serve initial terms of two years and, if
a director is reappointed that director may serve a consecutive four-year
term. Four appointees, including directors on the effective date of this
section who are reappointed, must serve initial terms of four years and, if a
director is reappointed that director may serve a consecutive four-year term.
After the initial appointments, directors may serve two consecutive terms.
The directors may provide for the payment of their expenses. The directors
shall include ((a)) the director of community, trade, and economic
development or the director's designee; representatives of ((a
not-for-profit corporation formed for the purpose of facilitating economic
development, at least two representatives of state financial institutions
engaged in the financing of export transactions, a representative of a port
district, and a representative of organized labor. Of the remaining board
members, there shall be one representative of business from the area west of
Puget Sound, one representative of business from the area east of Puget Sound
and west of the Cascade range, one representative of business from the area
east of the Cascade range and west of the Columbia river, one representative of
business from the area east of the Columbia river, the director of the
department of community, trade, and economic development, and the director of
the department of agriculture. One of the directors shall be a representative
of the public selected from the area in the state west of the Cascade mountain
range and one director shall be a representative of the public selected from
that area of the state east of the Cascade mountain range. One director shall
be a representative of the public at large. The directors shall be broadly
representative of geographic areas of the state, and the representatives of
businesses shall represent at least four different industries in different
sized businesses as follows: (a) One representative of a company employing
fewer than one hundred persons; (b) one representative of a company employing
between one hundred and five hundred persons; (c) one representative of a
company employing more than five hundred persons; (d) one representative from
an export management company; and (e) one representative from an agricultural
or food processing company)) a large financial institution engaged in
financing export transactions in the state of Washington; a small financial
institution engaged in financing export transactions in the state of
Washington; a large exporting company domiciled in the state of Washington; a
small exporting company in the state of Washington; organized labor in a trade
involved in international commerce; and a representative at large. To the
extent possible, appointments to the board shall reflect geographical balance
and the diversity of the state population. Any vacancies on the board due
to the expiration of a term or for any other reason shall be filled by
appointment by the governor for the unexpired term.
Sec.
3. RCW
43.210.040 and 1987 c 505 s 43 are each amended to read as follows:
(1)
The small business export finance assistance center formed under RCW 43.210.020
and 43.210.030 shall have the powers granted under chapter 24.03 RCW. In
exercising such powers, the center may:
(a)
Solicit and accept grants, contributions, and any other financial assistance
from the federal government, federal agencies, and any other sources to carry
out its purposes;
(b)
((Make loans to Washington businesses with annual sales of twenty-five
million dollars or less for the purpose of financing exports of goods or
services by those businesses to buyers in foreign countries. Loans by the
small business export finance assistance center under this chapter shall not
compete with nor be a substitute for available loans by a bank or other
financial institution and shall only be considered upon a financial
institution's assurance that such loan is not available;
(c)
Provide loan guarantees on loans made by financial institutions to businesses
with annual sales of one hundred million dollars or less for the purpose of
financing exports of goods or services by those businesses to buyers in foreign
countries;
(d)
Establish and regulate the terms and conditions of any such loans and loan guarantees
and charges for interest and services connected therewith;
(e))) Provide
assistance to businesses with annual sales of two hundred million dollars or
less in obtaining loans and guarantees of loans made by financial institutions
for the purpose of financing export of goods or services from the state of
Washington;
(c)
Provide export ((financial)) finance and risk mitigation
counseling to Washington exporters with annual sales of ((one)) two
hundred million dollars or less, provided that such counseling is not practicably
available from a Washington for-profit business. For such counseling, the
center may charge ((such)) reasonable fees as it determines are
necessary((.));
(((f)))
(d) Provide assistance in obtaining export credit insurance or alternate
forms of foreign risk mitigation to facilitate the export of goods and services
from the state of Washington;
(e)
Be available as a teaching resource to both public and private sponsors of workshops
and programs relating to the financing and risk mitigation aspects of exporting
products and services from the state of Washington;
(f)
Develop a comprehensive inventory of export-financing resources, both public
and private, including information on resource applicability to specific
countries and payment terms;
(g)
Contract with the federal government and its agencies to become a program
administrator for federally provided ((country risk)) loan guarantee
and export credit insurance programs ((and for the purposes of this
chapter)); and
(((g)))
(h) Take whatever action may be necessary to accomplish the purposes set
forth in this chapter.
(2)
The center may not use any Washington state funds or funds which come from the
public treasury of the state of Washington to make loans or to make any payment
under a loan guarantee agreement. Under no circumstances may the center use
any funds received under RCW 43.210.050 to make or assist in making any loan or
to pay or assist in paying any amount under a loan guarantee agreement. Debts
of the center shall be center debts only and may be satisfied only from the
resources of the center. The state of Washington shall not in any way be
liable for such debts.
(3)
The small business export finance assistance center shall make every effort to
seek nonstate funds for its continued operation.
(4)
The small business export finance assistance center may receive such gifts,
grants, and endowments from public or private sources as may be made from time
to time, in trust or otherwise, for the use and benefit of the purposes of the
small business export finance assistance center and expend the same or any
income therefrom according to the terms of the gifts, grants, or endowments.
