AUTHORITY TO CANCEL OR CREDIT EXPORT BONDS WITHOUT SUBMISSION OF RECORDS.

SEC. 1412. AUTHORITY TO CANCEL OR CREDIT EXPORT BONDS WITHOUT SUBMISSION OF RECORDS. (a) In General.—Section 5175(c) (relating to cancellation of credit of export bonds) is amended by striking “on the submission of’ and all that follows and inserting “if there is such proof of exportation as the Secretary may by regulations require.”. (b) Effective Date.—The amendment made by subsection (a) shall take effect on the 1st day of the 1st calendar quarter that begins at least 180 days after the date of the enactment of this Act.