any determination of eligibility for a country under 
this section, the Chief Executive Officer—
(A) shall consult in-person with the appro-
priate congressional committees with respect to 
the establishment of eligibility criteria and meth-
odology that the Chief Executive Officer proposes 
to use for purposes of determining eligibility 
under this section; 
(B) shall establish such eligibility criteria 
and methodology; and
(C) shall prepare and transmit to such com-
mittees a written report that contains such eligi-
bility criteria and methodology. 
(2) REVISIONS
TO
CRITERIA
AND
METHOD-
OLOGY.—If the Chief Executive Officer proposes to use 
revised or different criteria from the criteria described 
in paragraph (1) in making a determination of eligi-
bility for a country under this section, then, not later 
than 15 days prior to making such determination, the 
Chief Executive Officer shall consult in-person with 
the appropriate congressional committees with respect 
to such revised or different criteria and methodology 
in accordance with paragraph (1)(A) and shall pre-
pare and transmit a written report in accordance 
with paragraph (1)(C).
(f) FORM OF ASSISTANCE; RECIPIENTS.—
(1) FORM OF ASSISTANCE.—Assistance provided 
under section 202 for a country shall be provided to 
one or more of the entities described in paragraph (2) 
on a nonrepayable basis and in accordance with a 
fair, open, and competitive selection process that re-
sults in the awarding of such assistance on a merit 
basis using selection criteria that are made public by 
the Corporation in advance and are otherwise in ac-
cordance with standard and customary best practices 
for the provision of similar types of assistance. 
(2) RECIPIENTS.—The entities referred to in 
paragraph (1) are the following: 
(A) The national government of the country. 
(B) Regional or local governmental units of 
the country. 
(C) Nongovernmental organizations, includ-
ing for-profit, not-for-profit, and voluntary orga-
nizations. 
(D) International organizations and trust 
funds. 
(g) CONGRESSIONAL NOTIFICATION.—The Chief Exec-
utive Officer may not make any grant or enter into any 
contract for assistance for a country under section 202 that 
exceeds $5,000,000 until 15 days after the date on which
the Chief Executive Officer provides notification of the pro-
posed grant or contract to the appropriate congressional 
committees in accordance with the procedures applicable to 
reprogramming notifications under section 634A of the For-
eign Assistance Act of 1961. 
SEC. 204. MILLENNIUM CHALLENGE COMPACT. 
(a) COMPACT.—The President, acting through the 
Chief Executive Officer of the Corporation, may provide as-
sistance to an eligible country under section 202 only if 
the country enters into a contract with the United States, 
to be known as a ‘‘Millennium Challenge Compact’’, that 
establishes a multi-year plan for achieving shared develop-
ment objectives in furtherance of the purposes of this title, 
and only if the President, acting through the Chief Execu-
tive Officer, provides to Congress notice regarding such 
Compact pursuant to subsection (h). 
(b) ELEMENTS.—
(1) IN GENERAL.—The Compact shall take into 
account the national development strategy of the eligi-
ble country and shall contain—
(A) the specific objectives that the country 
and the United States expect to achieve; 
(B) the responsibilities of the country and 
the United States in the achievement of such ob-
jectives;
(C) regular benchmarks to measure, where 
appropriate, progress toward achieving such ob-
jectives; 
(D) an identification of the intended bene-
ficiaries, disaggregated by income level, gender, 
and age, to the maximum extent practicable; 
(E) a multi-year financial plan, including 
the estimated amount of contributions by the 
Corporation and the country and proposed mech-
anisms to implement the plan and provide over-
sight, that describes how the requirements of sub-
paragraphs (A) through (D) will be met, includ-
ing identifying the role of civil society in the 
achievement of such requirements; 
(F) where appropriate, a description of the 
responsibility of other donors in the achievement 
of such objectives; and 
(G) a plan to ensure appropriate fiscal ac-
countability for the use of assistance provided 
under section 202. 
(2) LOWER MIDDLE INCOME COUNTRIES.—In ad-
dition to the elements described in subparagraphs (A) 
through (G) of paragraph (1), with respect to a lower 
middle income country described in section 203(b), 
the Compact shall identify an appropriate contribu-
tion from the country relative to its national budget, 
taking into account the prevailing economic condi-
tions, toward meeting the objectives of the Compact. 
Such contribution shall be in addition to government 
spending allocated for such purposes in the country’s 
budget for the year immediately preceding the estab-
lishment of the Compact and shall continue for the 
duration of the Compact. 
(c) DEFINITION.—In subsection (b), the term ‘‘national 
development strategy’’ means any strategy to achieve mar-
ket-driven economic growth that has been developed by the 
government of the country in consultation with a wide vari-
ety of civic participation, including nongovernmental orga-
nizations, private and voluntary organizations, academia, 
women and student organizations, local trade and labor 
unions, and the business community. 
(d) ADDITIONAL PROVISION RELATING TO PROHIBI-
TION ON TAXATION.—In addition to the elements described 
in subsection (b), each Compact shall contain a provision 
that states that assistance provided by the United States 
under the Compact shall be exempt from taxation by the 
government of the eligible country. 
(e) LOCAL INPUT.—In entering into a Compact, the 
United States and the eligible country—
(1) shall take into account the local-level perspec-
tives of the rural and urban poor in the eligible coun-
try; and 
(2) should consult with private and voluntary 
organizations, the business community, and other do-
nors, in the eligible country. 
(f) CONSULTATION.—During any discussions with a 
country for the purpose of entering into a Compact with 
the country, officials of the Corporation participating in 
such discussions shall, at a minimum, consult with appro-
priate officials of the United States Agency for Inter-
national Development, particularly with those officials re-
sponsible for the appropriate region or country on develop-
ment issues related to the Compact. 
(g) COORDINATION WITH OTHER DONORS.—To the 
maximum extent feasible, activities undertaken to achieve 
the objectives of the Compact shall be undertaken in coordi-
nation with the assistance activities of other donors. 
(h) CONGRESSIONAL AND PUBLIC NOTIFICATION.—Not 
later than 15 days prior to entering into a Compact with 
an eligible country, the President, acting through the Chief 
Executive Officer—
(1) shall consult in-person with the appropriate 
congressional committees with respect to the proposed 
Compact;
(2) shall provide notification of the proposed 
Compact to the appropriate congressional committees 
in accordance with the procedures applicable to re-
programming notifications under section 634A of the 
Foreign Assistance Act of 1961; 
(3) shall prepare and transmit to such commit-
tees a written report that contains a detailed sum-
mary of the proposed Compact and a copy of the full 
text of the Compact; and
(4) shall publish such detailed summary and full 
text of the proposed Compact in the Federal Register 
and on the Internet website of the Corporation. 
(i) ASSISTANCE FOR DEVELOPMENT OF COMPACT.—
Notwithstanding subsection (a), the Chief Executive Officer 
may enter into contracts or make grants for any eligible 
country for the purpose of facilitating the development of 
the Compact between the United States and the country. 
SEC. 205. SUSPENSION AND TERMINATION OF ASSISTANCE. 
(a) SUSPENSION OF ASSISTANCE.—
(1) IN GENERAL.—The President shall suspend 
assistance in whole or in part for a country under 
this title if the President determines that—
(A) the country is engaged in activities 
which are contrary to the national security in-
terests of the United States;
(B) the elected head of state of the country 
or any member of the country’s highest judicial 
tribunal has been removed from that office or 
forcibly detained through extra-constitutional 
processes; or 
(C) the country has failed to adhere to its 
responsibilities under the Compact. 
(2) REINSTATEMENT.—The President may rein-
state assistance for a country under this title only if 
the President determines that the country has dem-
onstrated a commitment to correcting each condition 
for which assistance was suspended under paragraph 
(1). 
(3) CONGRESSIONAL NOTIFICATION.—A suspen-
sion of assistance under paragraph (1), or a rein-
statement of assistance under paragraph (2), shall be 
effective beginning 15 days after the date on which the 
President transmits to the appropriate congressional 
committees a report that contains the determination 
of the President under paragraph (1) or paragraph 
(2), as the case may be. 
(b) TERMINATION OF ASSISTANCE.—
(1) IN GENERAL.—The President, acting through 
the Chief Executive Officer of the Corporation, shall 
terminate all assistance for a country under this title
if the President determines that the country has con-
sistently failed to adhere to its responsibilities under 
the Compact or has significantly failed to meet the re-
quirements of this title. 
(2) CONGRESSIONAL
NOTIFICATION.—A termi-
nation of assistance under paragraph (1) shall be ef-
fective beginning 15 days after the date on which the 
President, acting through the Chief Executive Officer, 
provides notification of the proposed termination of 
assistance to the congressional committees specified in 
section 634A(a) of the Foreign Assistance Act of 1961 
in accordance with the procedures applicable to re-
programming notifications under that section. 
SEC. 206. ANNUAL REPORT. 
(a) REPORT.—Not later than April 1, 2005, and not 
later than April 1 of each year thereafter, the Chief Execu-
tive Officer of the Corporation shall prepare and transmit 
to the appropriate congressional committees a report on the 
implementation of this title for the preceding year. 
(b) CONTENTS.—The report shall include the following: 
(1) A description and assessment of the eligi-
bility criteria and methodology utilized by the Chief 
Executive Officer to determine eligibility for each 
country under section 203.
(2) A description of the agreed upon measures of 
progress contained in each Compact. 
(3)(A) An analysis, on a country-by-country, 
project-by-project basis, of the impact of assistance 
provided under this title on the economic development 
of each country. 
(B) For each country, the analysis shall—
(i) to the maximum extent possible, be done 
on a sector-by-sector basis, gender basis, and per 
capita income basis, and identify trends within 
each of these bases; 
(ii) identify economic policy reforms condu-
cive to economic development that are supported 
by assistance provided under this title; 
(iii) describe, in quantified terms to the ex-
tent practicable, the progress made in achieving 
assistance objectives for the country; 
(iv) describe the amount and nature of eco-
nomic assistance provided by other major donors 
which further the purposes of this title; and 
(v) discuss the commitment and contribu-
tion of the country to achieving the assistance 
objectives contained in its Compact.
SEC. 207. PARTICIPATION OF CERTAIN UNITED STATES 
BUSINESSES. 
(a) PARTICIPATION.—To the maximum extent prac-
ticable, the President, acting through the Chief Executive 
Officer, shall ensure that United States small, minority-
owned, and disadvantaged business enterprises fully par-
ticipate in the provision of goods and services that are fi-
nanced with funds made available under this title. 
(b) REPORT.—The Chief Executive Officer shall pre-
pare and submit to the appropriate congressional commit-
tees an annual report that contains a description of the ex-
tent to which the requirement of subsection (a) has been met 
for the preceding year. 
SEC. 208. AUTHORIZATION OF APPROPRIATIONS; RELATED 
AUTHORITIES. 
(a) AUTHORIZATION OF APPROPRIATIONS.—There are 
authorized to be appropriated to the President, acting 
through the Chief Executive Officer of the Corporation, to 
carry out this division (other than title IV) $1,300,000,000 
for fiscal year 2004, $3,000,000,000 for fiscal year 2005, 
and $5,000,000,000 for fiscal year 2006. 
(b) ADDITIONAL
AUTHORITIES.—Amounts appro-
priated pursuant to the authorization of appropriations 
under subsection (a)—
(1) may be referred to as the ‘‘Millennium Chal-
lenge Account’’;
(2) are authorized to remain available until ex-
pended; and 
(3) are in addition to amounts otherwise avail-
able for such purposes. 
TITLE III—MILLENNIUM 
CHALLENGE CORPORATION 
SEC. 301. MILLENNIUM CHALLENGE CORPORATION. 
(a) ESTABLISHMENT.—There is hereby established in 
the executive branch a corporation to be known as the ‘‘Mil-
lennium Challenge Corporation’’ that shall be responsible 
for carrying out title II. 
(b) GOVERNMENT CORPORATION.—The Corporation 
shall be a Government corporation, as defined in section 
103 of title 5, United States Code. 
SEC. 302. CHIEF EXECUTIVE OFFICER. 
(a) APPOINTMENT.—The Corporation shall be headed 
by an individual who shall serve as Chief Executive Officer 
of the Corporation, who shall be appointed by the President, 
by and with the advice and consent of the Senate. 
(b) COMPENSATION AND RANK.—
(1) IN GENERAL.—The Chief Executive Officer 
shall be compensated at the rate provided for level II 
of the Executive Schedule under section 5313 of title 
5, United States Code, and shall have the equivalent 
rank of Deputy Secretary.
(2) AMENDMENT.—Section 5313 of title 5, 
United States Code, is amended by adding at the end 
the following: 
‘‘Chief Executive Officer, Millennium Challenge 
Corporation.’’. 
(c) AUTHORITIES AND DUTIES.—The Chief Executive 
Officer shall exercise the powers and discharge the duties 
of the Corporation and any other duties, as conferred on 
the Chief Executive Officer by the President.
(d) AUTHORITY TO APPOINT OFFICERS.—The Chief 
Executive Officer shall appoint all officers of the Corpora-
tion. 
SEC. 303. BOARD OF DIRECTORS. 
(a) IN GENERAL.—There shall be in the Corporation 
a Board of Directors. 
(b) DUTIES.—The Board may prescribe, amend, and 
repeal bylaws, rules, regulations, and procedures governing 
the manner in which the business of the Corporation may 
be conducted and in which the powers granted to it by law 
may be exercised. 
(c) MEMBERSHIP.—
(1) IN GENERAL.—The Board shall consist of—
(A) the Secretary of State, the Secretary of 
Treasury, the Administrator of the United States 
Agency for International Development, the Chief
Executive Officer of the Corporation, and the 
United States Trade Representative; and 
(B) four other individuals who shall be ap-
pointed by the President, by and with the advice 
and consent of the Senate, of which—
(i) one individual shall be appointed 
from among a list of individuals submitted 
by the majority leader of the House of Rep-
resentatives; 
(ii) one individual shall be appointed 
from among a list of individuals submitted 
by the minority leader of the House of Rep-
resentatives; 
(iii) one individual shall be appointed 
from among a list of individuals submitted 
by the majority leader of the Senate; and 
(iv) one individual shall be appointed 
from among a list of individuals submitted 
by the minority leader of the Senate. 
(2) EX-OFFICIO MEMBERS.—In addition to mem-
bers of the Board described in paragraph (1), the Di-
rector of the Office of Management and Budget, the 
President and Chief Executive Officer of the Overseas 
Private Investment Corporation, the Director of the 
Trade and Development Agency, and the Director of
the Peace Corps shall be non-voting members, ex offi-
cio, of the Board. 
(d) TERMS.—
(1) OFFICERS OF FEDERAL GOVERNMENT.—Each 
member of the Board described in paragraphs (1)(A) 
and (2) of subsection (c) shall serve for a term that 
is concurrent with the term of service of the individ-
ual’s position as an officer within the other Federal 
department or agency. 
(2) OTHER
MEMBERS.—Each member of the 
Board described in subsection (c)(1)(B) shall be ap-
pointed for a term of 3 years and may be reappointed 
for a term of an additional 2 years. 
(3) VACANCIES.—A vacancy in the Board shall 
be filled in the manner in which the original appoint-
ment was made. 
(e) CHAIRPERSON.—The Secretary of State shall serve 
as the Chairperson of the Board. 
(f) QUORUM.—A majority of the members of the Board 
shall constitute a quorum, which shall include at least one 
member of the Board described in subsection (c)(1)(B). 
(g) MEETINGS.—The Board shall meet at the call of 
the Chairperson. 
(h) COMPENSATION.—
(1) OFFICERS OF FEDERAL GOVERNMENT.—
(A) IN GENERAL.—A member of the Board 
described in paragraphs (1)(A) and (2) of sub-
section (c) may not receive additional pay, al-
lowances, or benefits by reason of their service on 
the Board. 
(B) TRAVEL EXPENSES.—Each such mem-
ber of the Board shall receive travel expenses, in-
cluding per diem in lieu of subsistence, in ac-
cordance with applicable provisions under sub-
chapter I of chapter 57 of title 5, United States 
Code. 
(2) OTHER MEMBERS.—
(A) IN GENERAL.—Except as provided in 
paragraph (2), a member of the Board described 
in subsection (c)(1)(B)—
(i) shall be paid compensation out of 
funds made available for the purposes of 
this title at the daily equivalent of the high-
est rate payable under section 5332 of title 
5, United States Code, for each day (includ-
ing travel time) during which the member 
is engaged in the actual performance of du-
ties as a member of the Board; and 
(ii) while away from the member’s 
home or regular place of business on nec-
essary travel, as determined by the Chief 
Executive Officer, in the actual performance 
of duties as a member of the Board, shall be 
paid per diem, travel, and transportation 
expenses in the same manner as is provided 
under subchapter I of chapter 57 of title 5, 
United States Code. 
(B) LIMITATION.—A member of the Council 
may not be paid compensation under subpara-
graph (A)(i) for more than thirty days in any 
calendar year. 
SEC. 304. INTERAGENCY COORDINATION. 
In carrying out the functions described in this title, 
and consistent with section 101 of the National Security 
Act of 1947 (50 U.S.C. 402), the President shall ensure co-
ordination of assistance authorized under title II with for-
eign economic assistance programs and activities carried 
out by other Federal departments and agencies. 
SEC. 305. POWERS OF THE CORPORATION; RELATED PROVI-
SIONS. 
(a) POWERS.—The Corporation—
(1) may adopt, alter, and use a corporate seal, 
which shall be judicially noticed; 
(2) may prescribe, amend, and repeal such rules, 
regulations, and procedures as are necessary for car-
rying out the functions of the Corporation and all 
Compacts; 
(3) may make and perform such contracts, 
grants, and other agreements with any individual, 
corporation, or other private or public entity, however 
designated and wherever situated, as may be nec-
essary for carrying out the functions of the Corpora-
tion;
(4) may determine and prescribe the manner in 
which its obligations shall be incurred and its ex-
penses allowed and paid, including expenses for rep-
resentation not exceeding $95,000 in any fiscal year; 
(5) may lease, purchase, or otherwise acquire, 
own, hold, improve, use or otherwise deal in and with 
such property (real, personal, or mixed) or any inter-
est therein, wherever situated, as may be necessary for 
carrying out the functions of the Corporation; 
(6) may accept gifts or donations of services or 
of property (real, personal, or mixed), tangible or in-
tangible, in furtherance of the purposes of this divi-
sion; 
(7) may hire or obtain passenger motor vehicles; 
(8) may use the United States mails in the same 
manner and on the same conditions as the Executive
departments (as defined in section 101 of title 5, 
United States Code); 
(9) may, with the consent of any Executive agen-
cy (as defined in section 105 of title 5, United States 
Code), use the information, services, facilities, and 
personnel of that agency on a full or partial reim-
bursement in carrying out the purposes of this divi-
sion; and 
(10) may sue and be sued, complain, and defend, 
in its corporate name in any court of competent ju-
risdiction. 
(b) OFFICES.—
(1) PRINCIPAL OFFICE.—The Corporation shall 
maintain its principal office in the metropolitan area 
of Washington, District of Columbia. 
(2) OTHER OFFICES.—The Corporation may es-
tablish other offices in any place or places outside the 
United States in which the Corporation may carry 
out any or all of its operations and business. 
(c) COOPERATION WITH OTHER FEDERAL DEPART-
MENTS AND AGENCIES.—In order to avoid unnecessary ex-
pense and duplication of functions, efforts, and activities 
between the Corporation and other Federal departments 
and agencies the Chief Executive Officer, or the Chief Exec-
utive Officer’s designee—
(1)(A) shall consult, to the maximum extent 
practicable, with the Administrator of the United 
States Agency for International Development, or the 
Administrator’s designee, in order to coordinate the 
activities of the Corporation and the Agency for Inter-
national Development; and 
(B) shall consult with the heads of other depart-
ments and agencies to ensure similar coordination of 
activities; 
(2)(A) shall ensure proper coordination of activi-
ties of the Corporation with the provision of develop-
ment assistance of relevant international financial in-
stitutions, including the International Bank for Re-
construction and Development, the International 
Monetary Fund, and the regional multilateral devel-
opment banks; and 
(B) shall provide to each United States Execu-
tive Director (or other United States representative) 
to the relevant international financial institutions a 
copy of each proposed Compact between the United 
States and an eligible country and a copy of each 
such final Compact. 
(d) POSITIONS WITH FOREIGN GOVERNMENTS.—When 
approved by the Corporation, in furtherance of its purposes, 
employees of the Corporation (including individuals de-
tailed to the Corporation) may accept and hold offices or 
positions to which no compensation is attached with govern-
ments or governmental agencies of foreign countries or with 
international organizations. 
SEC. 306. TRANSPARENCY AND ACCOUNTABILITY OF THE 
CORPORATION. 
The Corporation and its officers and employees shall 
be subject to the provisions of section 552 of title 5, United 
States Code (relating to freedom of information). 
SEC. 307. DETAIL OF PERSONNEL TO THE CORPORATION; 
OTHER AUTHORITIES AND LIMITATIONS. 
(a) DETAIL
OF PERSONNEL.—Upon request of the 
Chief Executive Officer of the Corporation, the head of an 
agency may detail any employee of such agency to the Cor-
poration on a fully or partially reimbursable basis. Any 
employee so detailed remains, for the purpose of preserving 
such employee’s allowances, privileges, rights, seniority, and 
other benefits, an employee of the agency from which de-
tailed. 
(b) LIMITATION ON TOTAL SERVICE.—
(1) IN GENERAL.—Except as provided in para-
graph (2), no individual may serve in or under the 
Corporation (whether as an employee of the Corpora-
tion, a detailee to the Corporation, or a combination 
thereof) for a total period exceeding 5 years.
(2) EXCEPTIONS.—
(A) EXTENSION
AUTHORITY.—The Chief 
Executive Officer may extend the 5-year period 
under paragraph (1) for up to an additional 3 
years, in the case of any particular individual, 
if the Chief Executive Officer determines that 
such extension is essential to the achievement of 
the purposes of this division. 
(B) OFFICERS.—Nothing in this subsection 
shall limit the period for which an individual 
may serve as an officer of the Corporation ap-
pointed pursuant to section 302(d) nor shall any 
period of service as such an officer be taken into 
account for purposes of applying this subsection. 
(c) REEMPLOYMENT RIGHTS.—
(1) IN GENERAL.—An employee of an agency 
who is serving under a career or career conditional 
appointment (or the equivalent), and who, with the 
consent of the head of such agency, transfers to the 
Corporation, is entitled to be reemployed in such em-
ployee’s former position or a position of like seniority, 
status, and pay in such agency, if such employee—
(A) is separated from the Corporation—
(i) by reason of the application of sub-
section (b); or
(ii) for any other reason, other than 
misconduct, neglect of duty, or malfeasance; 
and
(B) applies for reemployment not later than 
90 days after the date of separation from the 
Corporation. 
(2) SPECIFIC RIGHTS.—An employee who satis-
fies paragraph (1) is entitled to be reemployed (in ac-
cordance with such paragraph) within 30 days after 
applying for reemployment and, on reemployment, is 
entitled to at least the rate of basic pay to which such 
employee would have been entitled had such employee 
never transferred. 
(d) BASIC PAY.—The Chief Executive Officer may fix 
the rate of basic pay of employees of the Corporation with-
out regard to the provisions of—
(1) chapter 51 of title 5, United States Code (re-
lating to the classification of positions), and 
(2) subchapter III of chapter 53 of such title (re-
lating to General Schedule pay rates), 
except that no employee of the Corporation may receive a 
rate of basic pay that exceeds the rate for level II of the 
Executive Schedule under section 5313 of such title. 
(e) ASSIGNMENT TO UNITED STATES EMBASSIES.—An 
employee of the Corporation, including an individual de-
tailed to or contracted by the Corporation, may be assigned 
to a United States diplomatic mission or consular post, or 
United States Agency for International Development field 
mission. 
(f) PRIVILEGES AND IMMUNITIES.—The Secretary of 
State shall seek to ensure that an employee of the Corpora-
tion, including an individual detailed to or contracted by 
the Corporation, and the members of the family of such em-
ployee, while the employee is performing duties in any 
country or place outside the United States, enjoy the privi-
leges and immunities that are enjoyed by a member of the 
Foreign Service, or the family of a member of the Foreign 
Service, as appropriate, of comparable rank and salary of 
such employee, if such employee or a member of the family 
of such employee is not a national of or permanently resi-
dent in such country or place. 
(g) RESPONSIBILITY OF CHIEF OF MISSION.—An em-
ployee of the Corporation, including an individual detailed 
to or contracted by the Corporation, and a member of the 
family of such employee, shall be subject to section 207 of 
the Foreign Service Act of 1980 (22 U.S.C. 3927) in the 
same manner as United States Government employees while 
the employee is performing duties in any country or place 
outside the United States if such employee or member of
the family of such employee is not a national of or perma-
nently resident in such country or place. 
(h) ALLOCATION OF FUNDS.—
(1) IN GENERAL.—The Corporation may allocate 
or transfer to the United States Agency for Inter-
national Development or any other agency any part 
of any funds available for carrying out the purposes 
of this division. Such funds shall be available for obli-
gation and expenditure for the purposes for which au-
thorized, in accordance with authority granted in this 
title or under authority governing the activities of the 
agencies of the United States Government to which 
such funds are allocated or transferred. 
(2) CONGRESSIONAL NOTIFICATION.—The Chief 
Executive Officer shall notify the appropriate congres-
sional committees not later than 15 days prior to a 
transfer of funds under paragraph (1) that exceeds 
$5,000,000. 
(3) USE OF SERVICES.—For carrying out the 
purposes of this division, the Corporation may utilize 
the services and facilities of, or procure commodities 
from, any agency under such terms and conditions as 
may be agreed to by the head of the agency and the 
Corporation.
(i) FUNDING LIMITATION.—Of the funds allocated 
under subsection (h) in any fiscal year, not more than 7 
percent of such funds may be used for administrative ex-
penses. 
(j) OTHER AUTHORITIES.—Except to the extent incon-
sistent with the provisions of this division, the administra-
tive authorities under chapters 1 and 2 of part III of the 
Foreign Assistance Act of 1961 shall apply to the provision 
of assistance under this division to the same extent and in 
the same manner as such authorities apply to the provision 
of economic assistance under part I of such Act. 
(k) APPLICABILITY
OF GOVERNMENT CORPORATION 
CONTROL ACT.—
(1) IN GENERAL.—The Corporation shall be sub-
ject to the provisions of chapter 91 of subtitle VI of 
title 31, United States Code, except that the Corpora-
tion shall not be authorized to issue obligations or 
offer obligations to the public. 
(2) CONFORMING AMENDMENT.—Section 9101(3) 
of title 31, United States Code, is amended by adding 
at the end the following: 
‘‘(Q) the Millennium Challenge Corpora-
tion.’’
(l) INSPECTOR GENERAL.—
(1) IN GENERAL.—The Inspector General of the 
United States Agency for International Development 
shall serve as Inspector General of the Corporation, 
and, in acting in such capacity, may conduct re-
views, investigations, and inspections of all aspects of 
the operations and activities of the Corporation. 
(2) AUTHORITY OF THE BOARD.—In carrying 
out its responsibilities under this subsection, the In-
spector General shall report to the Board of Directors. 
(3) REIMBURSEMENT.—The Corporation shall 
reimburse the United States Agency for International 
Development for all expenses incurred by the Inspec-
tor General in connection with the Inspector Gen-
eral’s responsibilities under this subsection. 
(m) COMPTROLLER GENERAL.—
(1) IN GENERAL.—The Comptroller General shall 
conduct audits, evaluations, and investigations of the 
Corporation. 
(2) SCOPE.—The activities and financial trans-
actions of the Corporation for any fiscal year during 
which Federal funds are available to finance any por-
tion of its operations may be evaluated, investigated, 
or audited by the Comptroller General in accordance 
with such rules and regulations as may be prescribed 
by the Comptroller General.
(3) ACCESS AND RECORDS.—Any evaluation, in-
vestigation, or audit shall be conducted at the place 
or places where pertinent information of the Corpora-
tion is normally kept. The representatives of the Gen-
eral Accounting Office shall have access to all books, 
accounts, financial records, reports, files, and other 
papers or property belonging to or in use by the Cor-
poration and necessary to facilitate the evaluation, 
investigation, or audit; and full facilities for verifying 
transactions with the balances and securities held by 
depositories, fiscal agents, and custodians shall be af-
forded to such representatives. All such books, ac-
counts, financial records, reports, files, and other pa-
pers or property of the Corporation shall remain in 
the possession and custody of the Corporation 
throughout the period beginning on the date such pos-
session or custody commences and ending three years 
after such date, but the General Accounting Office 
may require the retention of such books, accounts, fi-
nancial records, reports, files, papers, or property for 
a longer period under section 3523(c) of title 31, 
United States Code. 
(4) REPORT.—A report of such audit, evalua-
tion, or investigation shall be made by the Comp-
troller General to the appropriate congressional com-
mittees and to the President, together with such rec-
ommendations with respect thereto as the Comptroller 
General shall deem advisable. 
(n) DEFINITIONS.—For purposes of this section—
(1) the term ‘‘agency’’ means an Executive agen-
cy, as defined by section 105 of title 5, United States 
Code; and 
(2) the term ‘‘detail’’ means the assignment or 
loan of an employee, without a change of position, 
from the agency by which such employee is employed 
to the Corporation. 
SEC. 308. MILLENNIUM CHALLENGE ADVISORY COUNCIL. 
(a) ESTABLISHMENT.—There is hereby established in 
the executive branch an advisory council to the Corporation 
to be known as the Millennium Challenge Advisory Council. 
(b) FUNCTIONS.—
(1) GENERAL
FUNCTIONS.—The Council shall 
advise and consult with the Chief Executive Officer of 
the Corporation and the Board of Directors with re-
spect to policies and programs designed to further the 
purposes of this division and shall periodically report 
to the Congress with respect to the activities of the 
Corporation. In addition, the Council shall review on 
an annual basis the criteria and methodology used to 
determine eligibility of countries for assistance under
title II and make recommendations to the Chief Exec-
utive Officer and the Board to improve the effective-
ness of such criteria and methodology in order to 
achieve the purposes of this division. 
(2) ADDITIONAL
FUNCTIONS.—Members of the 
Council shall (subject to subsection (d)(1)) conduct 
on-site inspections, and make examinations, of the ac-
tivities of the Corporation in the United States and 
in other countries in order to—
(A) evaluate the accomplishments of the 
Corporation; 
(B) assess the potential capabilities and the 
future role of the Corporation; 
(C) make recommendations to the Chief Ex-
ecutive Officer, the Board of Directors, and Con-
gress, for the purpose of guiding the future direc-
tion of the Corporation and of helping to ensure 
that the purposes and programs of the Corpora-
tion are carried out in ways that are economical, 
efficient, responsive to changing needs in devel-
oping countries and to changing relationships 
among people, and in accordance with law; and 
(D) make such other evaluations, assess-
ments, and recommendations as the Council con-
siders appropriate.
(4) INFECTIOUS
DISEASES.—The term ‘‘infec-
tious diseases’’ means HIV/AIDS, tuberculosis, and 
malaria. 
SEC. 1105. PEACE CORPS NATIONAL ADVISORY COUNCIL. 
Section 12 of the Peace Corps Act (22 U.S.C. 2511; 
relating to the Peace Corps National Advisory Council) is 
amended—
(1) in subsection (b)(2)—
(A) in subparagraph (C), by striking ‘‘and’’ 
after the semicolon; 
(B) by redesignating subparagraph (D) as 
subparagraph (E); and 
(C) by inserting after subparagraph (C) the 
following: 
‘‘(D) make recommendations for utilizing the ex-
pertise of returned Peace Corps volunteers and former 
Peace Corps staff in fulfilling the goals of the Peace 
Corps; and’’; 
(2) in subsection (c)(2)—
(A) in subparagraph (A)—
(i) in the first sentence—
(I) by striking ‘‘fifteen’’ and in-
serting ‘‘eleven’’; and 
(II) by striking ‘‘President, by 
and with the advice and consent of the