22 U.S.C. § 9683 — Transfer of functions

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.