(C) Two members shall be appointed by
the minority leader of the Senate, of whom one
shall be a Member of the Senate and one shall
be appointed from private life.
(D) Two members shall be appointed by
the Speaker of the House of Representative, of
whom one shall be a Member of the House and
one shall be appointed from private life.
(E) Two members shall be appointed by
the minority leader of the House of Representa-
tives, of whom one shall be a member of the
House and one shall be appointed from private
life.
(3) CHAIRPERSON.—The Commission shall elect
a chairperson from among its members.
(4) QUORUM; 
VACANCIES.—After its initial
meeting, the Commission shall meet upon the call of
the chairperson or a majority of its members. Seven
members of the Commission shall constitute a
quorum. Any vacancy in the Commission shall not
affect its powers but shall be filled in the manner in
which the original appointment was made.
(5) 
APPOINTMENT
OF
MEMBERS; 
INITIAL
MEETING.—
(A) It is the sense of the Congress that
members of the Commission should be ap-
pointed not later than 60 days after the date of
the enactment of this Act.
(B) If at the end of the 60-day period de-
scribed in subparagraph (A) seven or more
members of the Commission have been ap-
pointed, those members who have been ap-
pointed may meet and select a chairperson who
thereafter shall have authority to begin the op-
erations of the Commission, including the hiring
of staff.
(c) FUNCTIONS OF THE COMMISSION.—The func-
tions of the Commission shall be—
(1) to conduct an investigation of the impact on
United States economic and foreign policy interests
of the programs of the International Trade Adminis-
tration of the Department of Commerce, the Export-
Import Bank of the United States, the Overseas Pri-
vate Investment Corporation, the Trade and Devel-
opment Agency, and any other Federal Government
agencies and programs designed to promote foreign
export and investment opportunities for United
States business concerns; and
(2) to submit to the Congress and the President
a report containing such recommendations concern-
ing the operations and structure of the agencies and
programs described in paragraph (1) as the Com-
mission shall determine on the basis of its investiga-
tion, including proposing new rules, regulations, pro-
cedures, or legislation.
(d) SCOPE OF COMMISSION’S WORK.—In carrying
out the investigation required under subsection (c)(1), the
Commission shall consider, but not be limited to, the fol-
lowing matters relating to the programs and agencies list-
ed in that subsection:
(1) The impact of those programs and agencies
on United States foreign policy and national secu-
rity.
(2) The impact of those programs and agencies
on United States economic interests, including em-
ployment, the balance of trade, and United States
trade negotiating objectives.
(3) The scope and risks of any liabilities in-
curred by the United States Government as a result
of the operation of those programs.
(4) The level of any fees charged by those pro-
grams and agencies for the services they provide,
and any alternative funding mechanisms.
(5) The export and investment promotion ac-
tivities of other major industrial nations, and how
any such activities compare to the United States
programs and activities investigated under sub-
section (c)(1).
(e) POWERS OF THE COMMISSION.—
(1) IN GENERAL.—(A) The Commission or, on
the authorization of the Commission, any sub-
committee or member thereof, may, for the purpose
of carrying out the provisions of this section—
(i) hold such hearings and sit and act at
such times and places, take such testimony, re-
ceive such evidence, administer such oaths, and
(ii) require, by subpoena or otherwise, the
attendance and testimony of such witnesses and
the production of such books, records, cor-
respondence, memoranda, papers, and docu-
ments,
as the Commission or such designated subcommittee
or designated member may deem advisable.
(B) Subpoenas issued under subparagraph
(A)(ii) may be issued under the signature of the
chairperson of the Commission, the chairperson of
any designated subcommittee, or any designated
member, and may be served by any person des-
ignated by such chairperson, subcommittee chair-
person, or member. The provisions of sections 102
through 104 of the Revised Statutes of the United
States (2 U.S.C. 192 through 194) shall apply in
the case of any failure of any witness to comply with
any subpoena or to testify when summoned under
the authority of this section.
(2) CONTRACTING.—The Commission may, to
such extent and in such amounts as are provided in
appropriation Acts, enter into contracts to enable
the Commission to discharge its duties under this
section.
(3) INFORMATION FROM FEDERAL AGENCIES.—
The Commission is authorized to secure directly
from any executive department, bureau, agency,
board, commission, office, independent establish-
ment, or instrumentality of the Government, infor-
mation, suggestions, estimates, and statistics for the
purposes of this section. Each such department, bu-
reau, agency, board, commission, office, establish-
ment, or instrumentality shall, to the extent author-
ized by law, furnish such information, suggestions,
estimates, and statistics directly to the Commission,
upon the request of the chairperson.
(4) ASSISTANCE FROM FEDERAL AGENCIES.—
(A) The Trade Promotion Coordinating Committee
is authorized to provide to the Commission, on a re-
imbursable or nonreimbursable basis, administrative
services, funds, facilities, staff, and other support
services for the performance of the Commission’s
functions.
(B) The Administrator of General Services shall
provide to the Commission, on a reimbursable basis,
such administrative support services as the Commis-
sion may request.
(C) In addition to the assistance set forth in
subparagraphs (A) and (B), departments and agen-
cies of the United States are authorized to provide
to the Commission such services, funds, facilities,
staff, and other support services as they may deem
advisable and as may be authorized by law.
(5) GIFTS.—The Commission may accept, use,
and dispose of gifts or donations of services or prop-
erty.
(6) POSTAL SERVICES.—The Commission may
use the United States mails in the same manner and
under the same conditions as departments and agen-
cies of the United States.
(f) STAFF OF THE COMMISSION.—
(1) IN GENERAL.—The chairperson, in accord-
ance with rules agreed upon by the Commission,
may appoint and fix the compensation of a staff di-
rector and such other personnel as may be necessary
to enable the Commission to carry out its functions,
without regard to the provisions of title 5, United
States Code, governing appointments in the competi-
tive service, and without regard to the provisions of
chapter 51, and subchapter III of chapter 53 of such
title relating to classification and General Schedule
pay rates, except that an individual so appointed
may not receive pay in excess of the annual rate of
pay payable for level V of the Executive Schedule
under section 5316 of title 5, United States Code.
Any Federal Government employee may be detailed
to the Commission without reimbursement from the
Commission, and such detailee shall retain the
rights, status, and privileges of his or her regular
employment without interruption.
(2) CONSULTANT SERVICES.—The Commission
is authorized to procure the services of experts and
consultants in accordance with section 3109 of title
5, United States Code, but at rates not to exceed the
daily equivalent of the annual rate of pay payable
for level IV of the Executive Schedule under section
5315 of title 5, United States Code.
(g) COMPENSATION AND TRAVEL EXPENSES.—
(1) COMPENSATION.—(A) Except as provided
in subparagraph (B), each member of the Commis-
sion may be compensated at the daily equivalent of
the annual rate of pay payable for level IV of the
Executive Schedule under section 5315 of title 5,
United States Code, for each day during which that
member is engaged in the actual performance of the
duties of the Commission.
(B) Members of the Commission who are offi-
cers or employees of the United States or Members
of Congress shall receive no additional pay on ac-
count of their service on the Commission.
(2) TRAVEL
EXPENSES.—While away from
their homes or regular places of business in the per-
formance of services for the Commission, members
of the Commission shall be allowed travel expenses,
including per diem in lieu of subsistence, in the
same manner as persons employed intermittently in
the Government service are allowed expenses under
section 5703(b) of title 5, United States Code.
(h) SECURITY CLEARANCES FOR COMMISSION MEM-
BERS
AND STAFF.—The appropriate executive depart-
ments and agencies shall cooperate with the Commission
in expeditiously providing to the members and staff of the
Commission appropriate security clearances in a manner
consistent with existing procedures and requirements, ex-
cept that no person shall be provided with access to classi-
fied information pursuant to this subsection who would
not otherwise qualify for such security clearance.
(i) 
FINAL
REPORT
OF
COMMISSION; 
TERMI-
NATION.—
(1) FINAL
REPORT.—Not later than 1 year
after the date of the first meeting of the Commis-
sion, the Commission shall submit to the Congress
its report under subsection (c)(1).
(2) TERMINATION.—(A) The Commission, and
all the authorities of this section, shall terminate on
the date which is 60 days after the date on which
its final report is required to be transmitted under
paragraph (1).
(B) The Commission may use the 60-day period
referred to in subparagraph (A) for the purpose of
concluding its activities, including providing testi-
mony to committees of Congress concerning its final
report and disseminating that report.
SEC. 8. CREATION OF INSPECTOR GENERAL FOR OPIC AND
TRADE AND DEVELOPMENT AGENCY.
(a) INSPECTOR GENERAL.—Section 8G(a)(2) of the
Inspector General Act of 1978 (5 U.S.C. App.) is amended
by inserting ‘‘the Overseas Private Investment Corpora-
tion,’’ after ‘‘the National Science Foundation,’’.
(b) ESTABLISHMENT OF OFFICE.—There shall be es-
tablished and maintained in OPIC an Office of Inspector
General by no later than 90 days after the date of the
enactment of this Act.
(c) RESPONSIBILITY OVER TRADE AND DEVELOP-
MENT AGENCY.—The Inspector General of OPIC shall
carry out the responsibilities and duties of an Inspector
General under the Inspector General Act of 1978 with re-
spect to the Trade and Devlopment Agency. The exercise
of responsibilities and duties under the preceding sentence
shall, for purposes of subsection (e), be a transfer of func-
tions to the Inspector General of OPIC, and to the Office
of Inspector General of OPIC, pursuant to this section.
(d) CONFORMING AMENDMENT.—Section 8B of the
Inspector General Act of 1978 is amended by adding at
the end the following: ‘‘Effective 90 days after the date
of the enactment of the Jobs and Exports Renewal Act
of 1997, the authority of the Inspector General of the
Agency for International Development over the Overseas
Private Investment Corporation and the Trade and Devel-
opment Agency shall terminate, except for responsibilities
under this section regarding security activities.’’.
(e) SAVINGS PROVISIONS.—
(1) TRANSFERS.—Any proceedings or other
matters relating to OPIC or the Trade and Develop-
ment Agency that are pending in the Office of In-
spector General of the Agency for International De-
velopment 90 days after the date of the enactment
of this Act shall be transferred to the Office of the
Inspector General of OPIC.
(2) CONTINUITY
OF
LEGAL
FORCE
AND
EF-
FECT.—All orders, determinations, rules, regula-
tions, permits, grants, contracts, certificates, li-
censes, and privileges—
(A) which have been issued, made, grant-
ed, or allowed to become effective by the Presi-
dent, any Federal department or agency or offi-
cial thereof, or by a court of competent jurisdic-
tion, in the performance of functions which are
transferred pursuant to this section to the Of-
fice of Inspector General of OPIC, and
(B) which are in effect at the time this Act
takes effect,
shall continue in effect according to their terms until
modified, terminated, superseded, set aside, or re-
(5) CONTINUATION
OF
PROCEEDINGS
WITH
SUBSTITUTION OF PARTIES.—If, before the end of
the 90-day period described in subsection (b), the
Inspector General of the Agency for International
Development, in his or her official capacity, is a
party to a suit with respect to any function trans-
ferred pursuant to this section to the Inspector Gen-
eral of OPIC, then at the end of that 90-day period
such suit shall be continued with the Inspector Gen-
eral of OPIC substituted or added as a party.
(e) REFERENCE.—With respect to any function
transferred pursuant to this section and exercised after
the end of the 90-day period described in subsection (b),
reference in any other Federal law to the Office of Inspec-
tor General of the Agency for International Development
or any officer thereof with respect to any function so
transferred shall be deemed to refer to the Office of In-
spector General or OPIC or officer thereof.
SEC. 9. BOARD OF DIRECTORS.
Section 233(b) of the Foreign Assistance Act of 1961
(22 U.S.C. 2193(b)) is amended—
(1) by striking the second and third sentences;
(2) in the fourth sentence by striking ‘‘(other
than the President of the Corporation, appointed
(2) by striking the period at the end of para-
graph (6) and inserting a semicolon; and
(3) by adding at the end the following:
‘‘(7) identifying means for providing more co-
ordinated and comprehensive export promotion serv-
ices to, and on behalf of, small and medium-sized
businesses; and
‘‘(8) establish a set of priorities to promote
United States exports to, and free market reforms
in, the Middle East, Africa, Latin America, and
other emerging markets, that are designed to stimu-
late job growth both in the United States and those
regions and emerging markets.’’.
SEC. 11. IMPLEMENTATION OF PRIMARY OBJECTIVES.
The Trade Promotion Coordinating Committee
shall—
(1) identify the areas of overlap and duplication
among Federal export promotion activities and re-
port on the actions taken or efforts currently under-
way to eliminate such overlap and duplication;
(2) report on actions taken or efforts currently
underway to promote better coordination between
State, Federal, and private sector export promotion
activities, including collocation, cost sharing between
Federal, State, and private sector export promotion
programs, and sharing of market research data; and
(3) by not later than September 30, 1998, in-
clude the matters addressed in paragraphs (1) and
(2) in the annual report required to be submitted
under section 2312(f) of the Export Enhancement
Act of 1988 (15 U.S.C. 4727(f)).
SEC. 12. TECHNICAL AMENDMENT.
Section 234 of the Foreign Assistance Act of 1961
(22 U.S.C. 2194) is amended—
(1) by redesignating the subsection (c) entitled
‘‘CREATION
OF FUND
FOR ACQUISITION
OF EQ-
UITY’’ as paragraph (5) under subsection (g) of sec-
tion 234;
(2) by aligning the text with the text of para-
graph (4) of subsection (g); and
(3) by amending the heading to read as follows:
‘‘(5) CREATION OF FUND FOR ACQUISITION OF
EQUITY.—’’.
Æ