I 

111TH CONGRESS 

2D SESSION H. R. 4980 

To terminate the authorities of the Overseas Private Investment Corporation. 

IN THE HOUSE OF REPRESENTATIVES 

MARCH 25, 2010 

Mr. PATRICK J. MURPHY of Pennsylvania (for himself and Mr. FLAKE) introduced the following bill; which was referred to the Committee on Foreign 

Affairs 

A BILL 

To terminate the authorities of the Overseas Private 

Investment Corporation. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Kick OPIC Act of 

5 2010’’. 

6 SEC. 2. TERMINATION OF OVERSEAS PRIVATE INVESTMENT 

7 CORPORATION. 

8 (a) TERMINATION OF AUTHORITY TO MAKE NEW

9 OBLIGATIONS.— 


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1 (1) TERMINATION OF AUTHORITY.—Effective 

2 60 days after the date of the enactment of this Act, 

3 the Overseas Private Investment Corporation shall 

4 not issue any insurance, guaranties, or reinsurance, 

5 make any loan, or acquire any securities, under sec6 tion 234 of the Foreign Assistance Act of 1961, 

7 enter into any agreements for any other activity au8 thorized by such section 234, or enter into risk shar9 ing arrangements authorized by section 234A of that 

10 Act. 

11 (2) PRESERVATION OF EXISTING CONTRACTS

12 AND AGREEMENTS.—Paragraph (1) does not require 

13 the termination of any contract or other agreement 

14 entered into before such paragraph takes effect. 

15 (b) TERMINATION OF OPIC.—Effective upon the ex16 piration of the 180-day period beginning on the date of 

17 the enactment of this Act, the Overseas Private Invest18 ment Corporation is abolished. 

19 (c) TRANSFER OF OPERATIONS TO OMB.—The Di20 rector of the Office of Management and Budget shall, ef21 fective upon the expiration of the 180-day period begin22 ning on the date of the enactment of this Act, perform 

23 the functions of the Overseas Private Investment Corpora24 tion with respect to contracts and agreements described 

25 in subsection (a)(2) until the expiration of such contracts 


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1 and agreements, but shall not renew any such contract 

2 or agreement. The Director shall take the necessary steps 

3 to wind up the affairs of the Corporation. 

4 (d) REPEAL OF AUTHORITIES.—Effective upon the 

5 expiration of the 180-day period beginning on the date of 

6 the enactment of this Act, title IV of chapter 2 of part 

7 I of the Foreign Assistance Act of 1961 (22 U.S.C. 2191 

8 and following) is repealed, but shall continue to apply with 

9 respect to functions performed by the Director of the Of10 fice of Management and Budget under subsection (c). 

11 (e) APPROPRIATIONS.—Funds available to the Cor12 poration shall, upon the effective date of the repeal made 

13 by subsection (d), be transferred to the Director of the 

14 Office of Management and Budget for use in performing 

15 the functions of the Corporation under subsection (c). 

16 Upon the expiration of the contracts and agreements with 

17 respect to which the Director is exercising such functions, 

18 any unexpended balances of the funds transferred under 

19 this subsection shall be deposited in the Treasury as mis20 cellaneous receipts. 

21 SEC. 3. SAVINGS PROVISIONS. 

22 (a) PRIOR DETERMINATIONS NOT AFFECTED.—The 

23 repeal made by section 2(d) of the provisions of law set 

24 forth in such section shall not affect any order, determina25 tion, regulation, or contract that has been issued, made, 


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1 or allowed to become effective under such provisions before 

2 the effective date of the repeal. All such orders, determina3 tions, regulations, and contracts shall continue in effect 

4 until modified, superseded, terminated, set aside, or re5 voked in accordance with law by the President, the Direc6 tor of the Office of Management and Budget, or other au7 thorized official, a court of competent jurisdiction, or by 

8 operation of law. 

9 (b) PENDING PROCEEDINGS.— 

10 (1) EFFECT ON PENDING PROCEEDINGS.— 

11 (A) IN GENERAL.—The repeal made by 

12 section 2(d) shall not affect any proceedings, in13 cluding notices of proposed rulemaking, pending 

14 on the effective date of the repeal, before the 

15 Overseas Private Investment Corporation, ex16 cept that no insurance, reinsurance, guarantee, 

17 or loan may be issued pursuant to any applica18 tion pending on such effective date. Such pro19 ceedings, to the extent that they relate to func20 tions performed by the Director of the Office of 

21 Management and Budget after such repeal, 

22 shall be continued. Orders shall be issued in 

23 such proceedings, appeals shall be taken there24 from, and payments shall be made pursuant to 

25 such orders, as if this Act had not been enVerDate Nov 24 2008 06:48 Mar 27, 2010 Jkt 089200 PO 00000 Frm 00004 Fmt 6652 Sfmt 6201 E:\BILLS\H4980.IH H4980

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1 acted; and orders issued in any such pro2 ceedings shall continue in effect until modified, 

3 terminated, superseded, or revoked by the Di4 rector of the Office of Management and Budg5 et, by a court of competent jurisdiction, or by 

6 operation of law. 

7 (B) CONSTRUCTION.—Nothing in this sub8 section shall be deemed to prohibit the dis9 continuance or modification of any proceeding 

10 described in subparagraph (A) under the same 

11 terms and conditions and to the same extent 

12 that such proceeding could have been discon13 tinued or modified if this Act had not been en14 acted. 

15 (2) REGULATIONS FOR TRANSFER OF PRO16 CEEDINGS.—The Director of the Office of Manage17 ment and Budget is authorized to issue regulations 

18 providing for the orderly transfer of proceedings 

19 continued under paragraph (1). 

20 (c) ACTIONS.—Except as provided in subsection 

21 (e)— 

22 (1) the provisions of this Act shall not affect 

23 suits commenced before the effective date of the re24 peal made by section 2(d); and 


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1 (2) in all such suits, proceedings shall be had, 

2 appeals taken, and judgments rendered in the same 

3 manner and effect as if this Act had not been en4 acted. 

5 (d) LIABILITIES INCURRED.—No suit, action, or 

6 other proceeding commenced by or against an individual 

7 in the official capacity of such individual as an officer of 

8 the Overseas Private Investment Corporation shall abate 

9 by reason of the enactment of this Act. No cause of action 

10 by or against the Overseas Private Investment Corpora11 tion, or by or against any officer thereof in the official 

12 capacity of such officer, shall abate by reason of the enact13 ment of this Act. 

14 (e) PARTIES.—If, before the effective date of the re15 peal made by section 2(d), the Overseas Private Invest16 ment Corporation or an officer thereof in the official ca17 pacity of such officer, is a party to a suit, then such suit 

18 shall be continued with the Director of the Office of Man19 agement and Budget substituted or added as a party. 

20 (f) REVIEW.—Orders and actions of the Director of 

21 the Office of Management and Budget in the exercise of 

22 functions of the Overseas Private Investment Corporation 

23 shall be subject to judicial review to the same extent and 

24 in the same manner as if such orders and actions had been 

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1 poration. Any statutory requirements relating to notice, 

2 hearings, action upon the record, or administrative review 

3 that apply to any function of the Overseas Private Invest4 ment Corporation shall apply to the exercise of such func5 tion by the Director of the Office of Management and 

6 Budget. 

7 SEC. 4. TECHNICAL AND CONFORMING AMENDMENTS. 

8 (a) TITLE 5, UNITED STATES CODE.—(1) Section 

9 5314 of title 5, United States Code, is amended by strik10 ing 

11 ‘‘President, Overseas Private Investment Cor12 poration.’’. 

13 (2) Section 5315 of title 5, United States Code, is 

14 amended by striking 

15 ‘‘Executive Vice President, Overseas Private In16 vestment Corporation.’’. 

17 (3) Section 5316 of title 5, United States Code, is 

18 amended by striking 

19 ‘‘Vice Presidents, Overseas Private Investment 

20 Corporation (3).’’. 

21 (b) OTHER AMENDMENTS AND REPEALS.—(1) Sec22 tion 222(a) of the Foreign Assistance Act of 1961 (22 

23 U.S.C. 2182) is amended by inserting after ‘‘section 

24 238(c)’’ the following: ‘‘as in effect on the day before the 


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1 effective date of the repeal of that section made by section 

2 2(d) of the OPIC Abolition Act’’. 

3 (2) Section 222A of the Foreign Assistance Act of 

4 1961 (22 U.S.C. 2182a) is amended— 

5 (A) by striking subsections (f) and (g); and 

6 (B) by redesignating subsections (h) and (i) as 

7 subsections (f) and (g), respectively. 

8 (3) Section 499B(b) of the Foreign Assistance Act 

9 of 1961 (22 U.S.C. 2296b(b)) is amended— 

10 (A) by striking paragraph (2); and 

11 (B) by redesignating paragraph (3) as para12 graph (2). 

13 (4) Section 2301(b)(9) of the Export Enhancement 

14 Act of 1988 (15 U.S.C. 4721(b)(9)) is amended by strik15 ing ‘‘the Overseas Private Investment Corporation,’’. 

16 (5) Section 2312(d)(1) of the Export Enhancement 

17 Act of 1988 (15 U.S.C. 4727(d)(1)) is amended— 

18 (A) by striking subparagraph (K); and 

19 (B) by redesignating subparagraphs (L) and 

20 (M) as subparagraphs (K) and (L), respectively. 

21 (6) Section 5402(b) of the Omnibus Trade and Com22 petitiveness Act of 1988 (15 U.S.C. 4902(b)) is amend23 ed— 

24 (A) in paragraph (12), by adding ‘‘and’’ after 

25 the semicolon; 


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1 (B) by striking paragraph (13); and 

2 (C) by redesignating paragraph (14) as para3 graph (13). 

4 (7) Section 625(a) of the Higher Education Act of 

5 1965 (20 U.S.C. 1131c(a)) is amended by striking ‘‘the 

6 Overseas Private Investment Corporation,’’. 

7 (8) Section 481(e)(4)(A) of the Foreign Assistance 

8 Act of 1961 (22 U.S.C. 2291(e)(4)(A)) is amended by 

9 striking ‘‘(including programs under title IV of chapter 

10 2, relating to the Overseas Private Investment Corpora11 tion)’’. 

12 (9) Section 202(b)(2)(B) of the Cuban Liberty and 

13 Democratic Solidarity (LIBERTAD) Act of 1996 (22 

14 U.S.C. 6062(b)(2)(B)) is amended— 

15 (A) by striking clause (iv); and 

16 (B) by redesignating clauses (v), (vi), and (vii) 

17 as clauses (iv), (v), and (vi), respectively. 

18 (10) Section 103(7)(A) of the Victims of Trafficking 

19 and Violence Protection Act of 2000 (22 U.S.C. 

20 7102(7)(A)) is amended— 

21 (A) in clause (vii), by adding ‘‘and’’ after the 

22 semicolon; 

23 (B) by striking clause (viii); and 

24 (C) by redesignating clause (ix) as clause (viii). 


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1 (11) Section 405(a)(10) of the International Reli2 gious Freedom Act of 1998 (22 U.S.C. 6445(a)(10)) is 

3 amended by striking ‘‘, the Overseas Private Investment 

4 Corporation,’’. 

5 (12) Section 732(b) of the Global Environmental 

6 Protection Assistance Act of 1989 (22 U.S.C. 7902(b)) 

7 is amended by striking ‘‘the Overseas Private Investment 

8 Corporation,’’. 

9 (13) Section 916(a)(2) of the Energy Independence 

10 and Security Act of 2007 (42 U.S.C. 17336(a)(2)) is 

11 amended— 

12 (A) by striking subparagraph (I); and 

13 (B) by redesignating subparagraphs (J) 

14 through (M) as subparagraphs (I) through (L), re15 spectively. 

16 (14) Section 6(d)(1) of the Belarus Democracy Act 

17 of 2004 (22 U.S.C. 5811 note) is amended by striking 

18 ‘‘and the Overseas Private Investment Corporation’’. 

19 (15) The following provisions of law are repealed: 

20 (A) Section 5(b)(2) of the Overseas Private In21 vestment Corporation Amendments Act of 1981 (22 

22 U.S.C. 2194a). 

23 (B) Section 5 of the Taiwan Relations Act (22 

24 U.S.C. 3304). 


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1 (C) Section 2(c)(12) of the Support for East 

2 European Democracy (SEED) Act of 1989 (22 

3 U.S.C. 5401(c)(12)). 

4 (D) Section 9101(3)(H) of title 31, United 

5 States Code. 

6 (E) Section 123 of the African Growth and Op7 portunity Act (19 U.S.C. 3733), and the item relat8 ing to that section in the table of contents of that 

9 Act. 

10 (F) Section 104 of the Africa: Seeds of Hope 

11 Act of 1998 (22 U.S.C. 2293), and the item relating 

12 to that section in the table of contents for that Act. 

13 (G) Section 914 of the Energy Independence 

14 and Security Act of 2007 (42 U.S.C. 17334), and 

15 the item relating to that section in the table of con16 tents for that Act. 

17 (c) EFFECTIVE DATE.—The amendments and re18 peals made by this section shall take effect upon the expi19 ration of the 180-day period beginning on the date of the 

20 enactment of this Act. 

Æ 


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