22 U.S.C. § 9682 — Reorganization plan

Page 2286 TITLE 22—FOREIGN RELATIONS AND INTERCOURSE § 9672 Editorial Notes REFERENCES IN TEXT This chapter, referred to in subsec. (i), was in the original ‘‘this division’’, meaning division F of Pub. L. 115–254, Oct. 5, 2018, 132 Stat. 3485, which is classified principally to this chapter. For complete classification of division F to the Code, see Short Title note set out under section 9601 of this title and Tables. § 9672. Additionality and avoidance of market distortion (a) In general Before the Corporation provides support for a project under subchapter II of this chapter, the Corporation shall ensure that private sector en- tities are afforded an opportunity to support the project. (b) Safeguards, policies, and guidelines The Corporation shall develop appropriate safeguards, policies, and guidelines to ensure that support provided by the Corporation under subchapter II of this chapter— (1) supplements and encourages, but does not compete with, private sector support; (2) operates according to internationally rec- ognized best practices and standards with re- spect to ensuring the avoidance of market dis- torting government subsidies and the crowd- ing out of private sector lending; and (3) does not have a significant adverse im- pact on United States employment. (Pub. L. 115–254, div. F, title V, § 1452, Oct. 5, 2018, 132 Stat. 3509.) § 9673. Prohibition on support in countries that support terrorism or violate human rights and with sanctioned persons (a) In general The Corporation is prohibited from providing support under subchapter II of this chapter for a government, or an entity owned or controlled by a government, if the Secretary of State has de- termined that the government— (1) has repeatedly provided support for acts of international terrorism for purposes of— (A) section 4813(c)(1)(A)(i) of title 50; (B) section 2371(a) of this title; (C) section 2780(d) of this title; or (D) any other relevant provision of law; or (2) has engaged in a consistent pattern of gross violations of internationally recognized human rights for purposes of section 2151n(a) or 2304(a)(2) of this title or any other relevant provision of law. (b) Prohibition on support of sanctioned persons The Corporation is prohibited from all deal- ings related to any project under subchapter II of this chapter prohibited under United States sanctions laws or regulations, including dealings with persons on the list of specially designated persons and blocked persons maintained by the Office of Foreign Assets Control of the Depart- ment of the Treasury, except to the extent oth- erwise authorized by the Secretary of the Treas- ury or the Secretary of State. (c) Prohibition on support of activities subject to sanctions The Corporation shall require any person re- ceiving support under subchapter II of this chap- ter to certify that the person, and any entity owned or controlled by the person, is in compli- ance with all United States sanctions laws and regulations. (Pub. L. 115–254, div. F, title V, § 1453, Oct. 5, 2018, 132 Stat. 3510.) § 9674. Applicability of certain provisions of law Subsections (g), (l), (m), and (n) of section 2197 of this title shall apply with respect to the Cor- poration to the same extent and in the same manner as such subsections applied with respect to the Overseas Private Investment Corporation on the day before October 5, 2018. (Pub. L. 115–254, div. F, title V, § 1454, Oct. 5, 2018, 132 Stat. 3510.) SUBCHAPTER VI—TRANSITIONAL PROVISIONS § 9681. Definitions In this subchapter: (1) Agency The term ‘‘agency’’ includes any entity, or- ganizational unit, program, or function. (2) Transition period The term ‘‘transition period’’ means the pe- riod— (A) beginning on October 5, 2018; and (B) ending on the effective date of the re- organization plan required by section 9682(e) of this title. (Pub. L. 115–254, div. F, title VI, § 1461, Oct. 5, 2018, 132 Stat. 3510.) Editorial Notes REFERENCES IN TEXT This subchapter, referred to in text, was in the origi- nal ‘‘this title’’, meaning title VI (§§ 1461–1470) of div. F of Pub. L. 115–254, Oct. 5, 2018, 132 Stat. 3510, which is classified principally to this subchapter and which re- pealed title IV of chapter 2 of part I of the Foreign As- sistance Act of 1961 (22 U.S.C. 2191 et seq.), other than subsections (g), (l), (m), and (n) of section 237 thereof (22 U.S.C. 2197(g), (l), (m), (n)), among other amendments. For complete classification of title VI to the Code, see Tables. § 9682. Reorganization plan (a) Submission of plan (1) In general Not later than 120 days after October 5, 2018, the President shall transmit to the appro- priate congressional committees a reorganiza- tion plan regarding the following: (A) The transfer of agencies, personnel, as- sets, and obligations to the Corporation pur- suant to this subchapter. (B) Any consolidation, reorganization, or streamlining of agencies transferred to the Corporation pursuant to this subchapter. (C) Any efficiencies or cost savings achieved or additional costs incurred as a re- sult of the transfer of agencies, personnel, assets, and obligations to the Corporation pursuant to this subchapter, including re- ductions in unnecessary or duplicative oper- ations, assets, and personnel. Page 2287 TITLE 22—FOREIGN RELATIONS AND INTERCOURSE § 9682 (2) Consultation Not later than 15 days before the date on which the plan is transmitted pursuant to this subsection, the President shall consult with the appropriate congressional committees on such plan. (b) Plan elements The plan transmitted under subsection (a) shall contain, consistent with this chapter, such elements as the President deems appropriate, in- cluding the following: (1) Identification of any functions of agen- cies transferred to the Corporation pursuant to this subchapter that will not be transferred to the Corporation under the plan. (2) Specification of the steps to be taken to organize the Corporation, including the dele- gation or assignment of functions transferred to the Corporation. (3) Specification of the funds available to each agency that will be transferred to the Corporation as a result of transfers under the plan. (4) Specification of the proposed allocations within the Corporation of unexpended funds transferred in connection with transfers under the plan. (5) Specification of any proposed disposition of property, facilities, contracts, records, and other assets and obligations of agencies trans- ferred under the plan. (6) Specification of the number of authorized positions and personnel employed before the end of the transition period that will be trans- ferred to the Corporation, including plans to mitigate the impact of such transfers on the United States Agency for International Devel- opment. (c) Report on coordination (1) In general The transfer of functions authorized by this section may occur only after the President and Chief Executive Officer of the Overseas Private Investment Corporation and the Ad- ministrator of the United States Agency for International Development jointly submit to the Committee on Foreign Affairs and Com- mittee on Appropriations of the House of Rep- resentatives and Committee on Foreign Rela- tions and Committee on Appropriations of the Senate a report in writing that contains the information required by paragraph (2). (2) Information required The information required by this paragraph includes a description in detail of the proce- dures to be followed after the transfer of func- tions authorized by this section have occurred to coordinate between the Corporation and the United States Agency for International Devel- opment in carrying out the functions so trans- ferred. (d) Modification of plan The President shall consult with the appro- priate congressional committees before making any material modification or revision to the plan before the plan becomes effective in accord- ance with subsection (e). (e) Effective date (1) In general The reorganization plan described in this section, including any modifications or revi- sions of the plan under subsection (c), shall be- come effective for an agency on the date speci- fied in the plan (or the plan as modified pursu- ant to subsection (d)), except that such date may not be earlier than 90 days after the date the President has transmitted the reorganiza- tion plan to the appropriate congressional committees pursuant to subsection (a). (2) Statutory construction Nothing in this subsection may be construed to require the transfer of functions, personnel, records, balances of appropriations, or other assets of an agency on a single date. (Pub. L. 115–254, div. F, title VI, § 1462, Oct. 5, 2018, 132 Stat. 3511.) Editorial Notes REFERENCES IN TEXT This subchapter, referred to in subsecs. (a)(1) and (b)(1), was in the original ‘‘this title’’, meaning title VI (§§ 1461–1470) of div. F of Pub. L. 115–254, Oct. 5, 2018, 132 Stat. 3510, which is classified principally to this sub- chapter. Section 1464(2) of title VI of div. F of Pub. L. 115–254 repealed title IV of chapter 2 of part I of the Foreign Assistance Act of 1961 (22 U.S.C. 2191 et seq.), other than subsections (g), (l), (m), and (n) of section 237 thereof (22 U.S.C. 2197(g), (l), (m), (n)), effective at the end of the transition period, as defined in section 9681 of this title. The reorganization plan described in this section was submitted on Mar. 8, 2019, with a pro- posed effective date of Oct. 1, 2019, and funding author- ized on Dec. 20, 2019. For complete classification of title VI to the Code, see Tables. This chapter, referred to in subsec. (b), was in the original ‘‘this division’’, meaning division F of Pub. L. 115–254, Oct. 5, 2018, 132 Stat. 3485, which is classified principally to this chapter. For complete classification of division F to the Code, see Short Title note set out under section 9601 of this title and Tables. Executive Documents DELEGATION OF FUNCTIONS AND AUTHORITIES UNDER THE BETTER UTILIZATION OF INVESTMENTS LEADING TO DE- VELOPMENT ACT OF 2018 Memorandum of President of the United States, Sept. 24, 2019, 84 F.R. 52353, provided: Memorandum for the President of the Overseas Pri- vate Investment Corporation [and] the Administrator of the United States Agency for International Develop- ment By the authority vested in me as President by the Constitution and the laws of the United States of America, including section 1462 of title VI of division F of Public Law 115–254 (section 9682 of title 22, United States Code) (the ‘‘Act’’), and section 301 of title 3, United States Code, I hereby delegate to the President of the Overseas Private Investment Corporation, in consultation with the Administrator of the United States Agency for International Development, the functions and authorities vested in the President by the Act to submit a reorganization plan, including any modifications or revisions thereto, and to consult with the appropriate congressional committees on such plan, including any modifications and revisions there- to. The President of the Overseas Private Investment Corporation is authorized and directed to publish this memorandum in the Federal Register. DONALD J. TRUMP. Page 2288 TITLE 22—FOREIGN RELATIONS AND INTERCOURSE § 9683 § 9683. Transfer of functions (a) In general Effective at the end of the transition period, there shall be transferred to the Corporation the functions, personnel, assets, and liabilities of— (1) the Overseas Private Investment Cor- poration, as in existence on the day before Oc- tober 5, 2018; and (2) the following elements of the United States Agency for International Development: (A) The Development Credit Authority. (B) The existing Legacy Credit portfolio under the Urban Environment Program and any other direct loan programs and non-De- velopment Credit Authority guaranty pro- grams authorized by the Foreign Assistance Act of 1961 (22 U.S.C. 2151 et seq.) or other predecessor Acts, as in existence on October 5, 2018, other than any sovereign loan guar- anties. (b) Additional transfer authority Effective at the end of the transition period, there is authorized to be transferred to the Cor- poration, with the concurrence of the Adminis- trator of the United States Agency for Inter- national Development, the functions, personnel, assets, and liabilities of the following elements of the United States Agency for International Development: (1) The Office of Private Capital and Micro- enterprise. (2) The enterprise funds. (c) Sovereign loan guaranty transfer (1) In general Effective at the end of the transition period, there is authorized to be transferred to the Corporation or any other appropriate depart- ment or agency of the United States Govern- ment the loan accounts and the legal rights and responsibilities for the sovereign loan guaranty portfolio held by the United States Agency for International Development as in existence on the day before October 5, 2018. (2) Inclusion in reorganization plan The President shall include in the reorga- nization plan submitted under section 9682 of this title a description of the transfer author- ized under paragraph (1). (d) Bilateral agreements Any bilateral agreement of the United States in effect on October 5, 2018, that serves as the basis for programs of the Overseas Private In- vestment Corporation and the Development Credit Authority shall be considered as satis- fying the requirements of section 9631(a) of this title. (e) Transition During the transition period, the agencies specified in subsection (a) shall— (1) continue to administer the assets and ob- ligations of those agencies; and (2) carry out such programs and activities authorized under this chapter as may be deter- mined by the President. (Pub. L. 115–254, div. F, title VI, § 1463, Oct. 5, 2018, 132 Stat. 3512.) Editorial Notes REFERENCES IN TEXT The Foreign Assistance Act of 1961, referred to in sub- sec. (a)(2)(B), is Pub. L. 87–195, Sept. 4, 1961, 75 Stat. 424, which is classified principally to chapter 32 (§ 2151 et seq.) of this title. For complete classification of this Act to the Code, see Short Title note set out under sec- tion 2151 of this title and Tables. This chapter, referred to in subsec. (e)(2), was in the original ‘‘this division’’, meaning division F of Pub. L. 115–254, Oct. 5, 2018, 132 Stat. 3485, which is classified principally to this chapter. For complete classification of division F to the Code, see Short Title note set out under section 9601 of this title and Tables. Statutory Notes and Related Subsidiaries ENHANCEMENT OF NONGOVERNMENTAL SECTOR IN POLAND AND HUNGARY Pub. L. 101–179, title III, § 302(b), Nov. 28, 1989, 103 Stat. 1311, provided that: ‘‘In accordance with its man- date to foster private initiative and competition and enhance the ability of private enterprise to make its full contribution to the development process, the Over- seas Private Investment Corporation shall support projects in Poland and Hungary which will result in en- hancement of the nongovernmental sector and reduc- tion of state involvement in the economy.’’ [For transfer of functions, personnel, assets, and li- abilities of the Overseas Private Investment Corpora- tion to the United States International Development Finance Corporation and treatment of related ref- erences, see this section and section 9686(d) of this title.] Pub. L. 101–179, title III, § 302(c), Nov. 28, 1989, 103 Stat. 1311, provided that: ‘‘If the Foreign Operations, Export Financing, and Related Programs Appropria- tions Act, 1990 [Pub. L. 101–167], contains the same amendment that is made by subsection (a) of this sec- tion [amending former section 2199(f) of this title by in- serting ‘‘, Poland, Hungary,’’ after ‘‘Yugoslavia’’], the amendment made by that Act shall not be effective.’’ § 9684. Termination of Overseas Private Invest- ment Corporation and other superceded au- thorities Effective at the end of the transition period— (1) the Overseas Private Investment Cor- poration is terminated; and (2) Omitted. (Pub. L. 115–254, div. F, title VI, § 1464, Oct. 5, 2018, 132 Stat. 3513.) Editorial Notes CODIFICATION Section is comprised of section 1464 of Pub. L. 115–254. Par. (2) of section 1464 of Pub. L. 115–254 repealed title IV of chapter 2 of part I of the Foreign Assistance Act of 1961 (22 U.S.C. 2191 et seq.), other than subsections (g), (l), (m), and (n) of section 237 thereof (22 U.S.C. 2197(g), (l), (m), (n)). § 9685. Transitional authorities (a) Provision of assistance by officials Until the transfer of an agency to the Corpora- tion under section 9683 of this title, any official having authority over, or functions relating to, the agency on the day before October 5, 2018, shall provide to the Corporation such assistance, including the use of personnel and assets, as the Corporation may request in preparing for the transfer and integration of the agency into the Corporation.