WHEREAS, The economy of New York State and opportunities for employment within the State are increasingly dependent upon the export of New York State goods and services and the growth of export markets for those goods and services;

WHEREAS, New York State exporters find it increasingly difficult to compete with foreign exporters which benefit from governmentally supported financing programs;

WHEREAS, The Governor's Advisory Panel on Export Finance recommended the establishment of a State export financing entity to encourage and facilitate the export to foreign markets of New York products and services; and

WHEREAS, It is necessary to continue the analysis of the requirements of the export industry and the extent to which the State can provide resources to assist exporters;

NOW, THEREFORE, I, Hugh L. Carey, Governor of the State of New York, by virtue of the authority vested in me by the Constitution and the Laws of the State of New York, do hereby order as follows:

I. Commission on Export Finance

There is hereby created within the Executive Department a commission of 10 persons to be known as the Commission on Export Finance (the “commission”). The members of the commission shall be appointed by the Governor and a chairman and vice-chairman of the commission shall be named by the Governor. The members of the commission shall receive no compensation but shall be entitled to reimbursement for any necessary expenses incurred in connection with the performance of their duties.

II. Powers and Responsibilities

1. The commission shall review, evaluate and make appropriate recommendations on proposed legislation to secure the establishment of a State-sponsored export financing entity with the power to provide export finance assistance through participating banks; develop insurance and guarantee programs for New York State exporters; and provide export counseling services.

2. In formulating its recommendations, the commission shall take into consideration the following:

3. The commission shall advise the Governor concerning matters germane to the establishment of an export financing entity with appropriate recommendations. The commission shall make recommendations and suggestions for legislative and administrative actions necessary for the establishment of the entity.

4. For the accomplishment of its purposes, the commission shall be authorized and empowered to undertake any studies, inquiries, surveys or analyses it may deem relevant through its own personnel, or in cooperation with or by agreement with any other public or private agency.