(3) develop standards for, and a method for en-
suring, appropriate financial performance of the 
Corporation’s portfolio; and 
(4) develop standards for, and a method for en-
suring, appropriate development performance of the 
Corporation’s portfolio, including— 
(A) measurement of the projected and ex 
post development impact of a project; and 
(B) the information necessary to comply 
with section 403. 
(c) PUBLIC AVAILABILITY OF CERTAIN INFORMA-
TION.—The Corporation shall make available to the public 
on a regular basis information about support provided by 
the Corporation under title II and performance metrics 
about such support on a country-by-country basis. 
(d) COLLABORATION.—In developing the perform-
ance measurement system required by subsection (a), the 
Corporation shall consult with stakeholders and other in-
terested parties engaged in sustainable economic growth 
and development. 
SEC. 403. ANNUAL REPORT. 
(a) IN GENERAL.—After the end of each fiscal year, 
the Corporation shall submit to the appropriate congres-
sional committees a complete and detailed report of its op-
erations during that fiscal year, including an assessment 
of— 
(1) the economic and social development im-
pact, including with respect to matters described in 
subsections (d) and (e) of section 501, of projects 
supported by the Corporation under title II; 
(2) the extent to which the operations of the 
Corporation complement or are compatible with the 
development assistance programs of the United 
States and qualifying sovereign entities; 
(3) the Corporation’s institutional linkages with 
other relevant United States Government depart-
ment and agencies, including efforts to strengthen 
such linkages; and 
(4) the compliance of projects supported by the 
Corporation under title II with human rights, envi-
ronmental, labor, and social policies, or other such 
related policies that govern the Corporation’s sup-
port for projects, promulgated or otherwise adminis-
tered by the Corporation. 
(b) ELEMENTS.—Each annual report required by 
subsection (a) shall include analyses of the effects of 
projects supported by the Corporation under title II, in-
cluding— 
(1) reviews and analyses of—
(A) the desired development outcomes for 
projects and whether or not the Corporation is 
meeting the associated metrics, goals, and de-
velopment objectives, including, to the extent 
practicable, in the years after conclusion of 
projects; and 
(B) the effect of the Corporation’s support 
on access to capital and ways in which the Cor-
poration is addressing identifiable market gaps 
or inefficiencies and what impact, if any, such 
support has on access to credit for a specific 
project, country, or sector; 
(2) an explanation of any partnership arrange-
ment or cooperation with a qualifying sovereign enti-
ty in support of each project; 
(3) projections of— 
(A) development outcomes, and whether or 
not support for projects are meeting the associ-
ated performance measures, both during the 
start-up phase and over the duration of the 
support, and to the extent practicable, measures 
of such development outcomes should be on a 
gender-disaggregated basis, such as changes in 
employment, access to financial services, enter-
prise development and growth, and composition
of executive boards and senior leadership of en-
terprises receiving support under title II; and 
(B) the value of private sector assets 
brought to bear relative to the amount of sup-
port provided by the Corporation and the value 
of any other public sector support; and 
(4) an assessment of the extent to which lessons 
learned from the monitoring and evaluation activities 
of the Corporation, and from annual reports from 
previous years compiled by the Corporation, have 
been applied to projects. 
SEC. 404. PUBLICLY AVAILABLE PROJECT INFORMATION. 
The Corporation shall— 
(1) maintain a user-friendly, publicly available, 
machine-readable database with detailed country- 
level information, including a description of the sup-
port provided by the Corporation under title II; and 
(2) include a clear link to information about 
each project supported by the Corporation under 
title II on the internet website of the Department of 
State, ‘‘ForeignAssistance.gov’’, or a successor 
website or other online publication. 
SEC. 405. ENGAGEMENT WITH INVESTORS. 
(a) IN GENERAL.—The Corporation, acting through 
the Chief Development Officer, shall, in cooperation with
the Administrator of the United States Agency for Inter-
national Development— 
(1) develop a strategic relationship with private 
sector entities focused at the nexus of business op-
portunities and development priorities; 
(2) engage such entities and reduce business 
risks primarily through direct transaction support 
and facilitating investment partnerships; 
(3) develop and support tools, approaches, and 
intermediaries that can mobilize private finance at 
scale in the developing world; 
(4) pursue projects of all sizes, especially those 
that are small but designed for work in the most un-
derdeveloped areas, including countries with chronic 
suffering as a result of extreme poverty, fragile insti-
tutions, or a history of violence; and 
(5) pursue projects consistent with the policy of 
the United States described in section 101 and the 
Joint Strategic Plan and the Mission Country Devel-
opment Cooperation Strategies of the United States 
Agency for International Development. 
(b) ASSISTANCE.—To achieve the goals described in 
subsection (a), the Corporation shall— 
(1) develop risk mitigation tools;
(2) provide transaction structuring support for 
blended finance models; 
(3) support intermediaries linking capital sup-
ply and demand; 
(4) coordinate with other Federal agencies to 
support or accelerate transactions; 
(5) convene financial, donor, civil society, and 
public sector partners around opportunities for pri-
vate finance within development priorities; 
(6) offer strategic planning and programming 
assistance to catalyze investment into priority sec-
tors; 
(7) provide transaction structuring support; 
(8) deliver training and knowledge management 
tools for engaging private investors; 
(9) partner with private sector entities that pro-
vide access to capital and expertise; and 
(10) identify and screen new investment part-
ners. 
(c) TECHNICAL ASSISTANCE.—The Corporation shall 
coordinate with the United States Agency for Inter-
national Development and other agencies and depart-
ments, as necessary, on projects and programs supported 
by the Corporation that include technical assistance.
SEC. 406. NOTIFICATION OF SUPPORT TO BE PROVIDED BY 
THE CORPORATION. 
(a) IN GENERAL.—Not later than 15 days prior to 
the Corporation making a financial commitment associ-
ated with the provision of support under title II in an 
amount in excess of $10,000,000, the Chief Executive Of-
ficer of the Corporation shall submit to the Committee on 
Foreign Affairs and the Committee on Appropriations of 
the House of Representatives and the Committee on For-
eign Relations and the Committee on Appropriations of 
the Senate a report in writing that contains the informa-
tion required by subsection (b). 
(b) INFORMATION REQUIRED.—The information re-
quired by this subsection includes— 
(1) the amount of each such financial commit-
ment; 
(2) an identification of the recipient or bene-
ficiary; and 
(3) a description of the project, activity, or 
asset and the development goal or purpose to be 
achieved by providing support by the Corporation. 
TITLE V—CONDITIONS, RESTRIC-
TIONS, AND PROHIBITIONS 
SEC. 501. LIMITATIONS AND PREFERENCES. 
(a) LIMITATION ON SUPPORT FOR SINGLE ENTI-
TY.—No entity receiving support from the Corporation
under title II may receive more than an amount equal to 
5 percent of the Corporation’s maximum contingent liabil-
ity authorized under section 303. 
(b) PREFERENCE
FOR SUPPORT
FOR PROJECTS 
SPONSORED BY UNITED STATES PERSONS.— 
(1) IN GENERAL.—The Corporation should give 
preferential consideration to projects sponsored by 
or involving private sector entities that are United 
States persons. 
(2) UNITED STATES PERSON DEFINED.—In this 
subsection, the term ‘‘United States person’’ 
means— 
(A) a United States citizen; or 
(B) an entity significantly beneficially 
owned by individuals described in subparagraph 
(A). 
(c) PREFERENCE FOR SUPPORT IN COUNTRIES IN 
COMPLIANCE WITH INTERNATIONAL TRADE OBLIGA-
TIONS.— 
(1) CONSULTATIONS
WITH
UNITED
STATES 
TRADE REPRESENTATIVE.—Not less frequently than 
annually, the Corporation shall consult with the 
United States Trade Representative with respect to 
the status of countries eligible to receive support 
from the Corporation under title II and the compli-
ance of those countries with their international trade 
obligations. 
(2) PREFERENTIAL CONSIDERATION.—The Cor-
poration shall give preferential consideration to pro-
viding support under title II for projects in countries 
in compliance with or making substantial progress 
coming into compliance with their international 
trade obligations. 
(d) WORKER RIGHTS.— 
(1) IN GENERAL.—The Corporation should sup-
port projects under title II in countries that are tak-
ing steps to adopt and implement laws that extend 
internationally recognized worker rights (as defined 
in section 507 of the Trade Act of 1974 (19 U.S.C. 
2467)) to workers in that country, including any 
designated zone in that country. 
(2) REQUIRED
CONTRACT
LANGUAGE.—The 
Corporation shall also include the following lan-
guage, in substantially the following form, in all con-
tracts which the Corporation enters into with eligible 
investors to provide support under title II: ‘‘The per-
son receiving support agrees not to take actions to 
prevent employees of the foreign enterprise from 
lawfully exercising their right of association and 
their right to organize and bargain collectively. The
person further agrees to observe applicable laws re-
lating to a minimum age for employment of children, 
acceptable conditions of work with respect to min-
imum wages, hours of work, and occupational health 
and safety, and not to use forced labor or the worst 
forms of child labor (as defined in section 507 of the 
Trade Act of 1974 (19 U.S.C. 2467(6))). The per-
son is not responsible under this paragraph for the 
actions of a foreign government.’’. 
(e) ENVIRONMENTAL
AND SOCIAL IMPACT.—The 
Board shall not vote in favor of any project proposed to 
be supported by the Corporation under title II that is like-
ly to have significant adverse environmental or social im-
pacts that are sensitive, diverse, or unprecedented, un-
less— 
(1) at least 60 days before the date of the vote, 
an environmental and social impact assessment or 
initial environmental and social audit, analyzing the 
environmental and social impacts of the proposed 
project and of alternatives to the proposed project, 
is completed; and 
(2) such assessment or audit has been made 
available to the public of the United States, locally 
affected groups in the country in which the project
will be carried out, and nongovernmental organiza-
tions in that country. 
(f) WOMEN’S ECONOMIC EMPOWERMENT.—In uti-
lizing its authorities under title II, the Corporation should 
consider the impacts of its support on women’s economic 
opportunities and outcomes and make efforts to mitigate 
gender gaps and maximize development impact by working 
to improve women’s economic opportunities. 
(g) PREFERENCE FOR PROVISION OF SUPPORT IN 
COUNTRIES EMBRACING PRIVATE ENTERPRISE.— 
(1) IN GENERAL.—The Corporation should give 
preferential consideration to projects for which sup-
port under title II may potentially be provided in 
countries the governments of which have dem-
onstrated consistent support for economic policies 
that promote the development of private enterprise, 
both domestic and foreign, and maintaining the con-
ditions that enable private enterprise to make its full 
contribution to the development of such countries, 
including— 
(A) market-based economic policies; 
(B) protecting private property rights; 
(C) respect for the rule of law; and 
(D) systems to combat corruption and 
bribery.
(2) SOURCES OF INFORMATION.—The Corpora-
tion should rely on both third-party indicators and 
United States Government information, such as the 
Department of State’s Investment Climate State-
ments, the Department of Commerce’s Country 
Commercial Guides, or the Millennium Challenge 
Corporation’s Constraints Analysis, to assess wheth-
er countries meet the conditions described in para-
graph (1). 
(h) CONSIDERATION OF FOREIGN BOYCOTT PARTICI-
PATION.—In providing support for projects under title II, 
the Corporation shall consider, using information readily 
available, whether the project is sponsored by or substan-
tially affiliated with any person taking or knowingly agree-
ing to take actions, or having taken or knowingly agreed 
to take actions within the past 3 years, which demonstrate 
or otherwise evidence intent to comply with, further, or 
support any boycott fostered or imposed by any foreign 
country, or request to impose any boycott by any foreign 
country, against a country which is friendly to the United 
States and which is not itself the object of any form of 
boycott pursuant to United States law or regulation.
SEC. 502. ADDITIONALITY AND AVOIDANCE OF MARKET 
DISTORTION. 
(a) IN GENERAL.—Before the Corporation provides 
support for a project under title II, the Corporation shall 
ensure that private sector entities are afforded an oppor-
tunity 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 Cor-
poration under title II— 
(1) supplements and encourages, but does not 
compete with, private sector support; 
(2) operates according to internationally recog-
nized best practices and standards with respect to 
ensuring the avoidance of market distorting govern-
ment subsidies and the crowding out of private sec-
tor lending; and 
(3) does not have a significant adverse impact 
on United States employment. 
SEC. 503. PROHIBITION ON SUPPORT IN SANCTIONED 
COUNTRIES AND WITH SANCTIONED PER-
SONS. 
(a) IN GENERAL.—The Corporation is prohibited 
from providing support under title II in a country the gov-
ernment of which the Secretary of State has determined
has repeatedly provided support for acts of international 
terrorism for purposes of— 
(1) section 6(j)(1)(A) of the Export Administra-
tion Act of 1979 (50 U.S.C. 4605(j)(1)(A)) (as con-
tinued in effect pursuant to the International Emer-
gency Economic Powers Act (50 U.S.C. 1701 et 
seq.)); 
(2) section 620A(a) of the Foreign Assistance 
Act of 1961 (22 U.S.C. 2371(a)); 
(3) section 40(d) of the Arms Export Control 
Act (22 U.S.C. 2780(d)); or 
(4) any other provision of law. 
(b) PROHIBITION ON SUPPORT OF SANCTIONED PER-
SONS.—The Corporation is prohibited from supporting a 
project under title II that directly benefits any entity sub-
ject to sanctions imposed by the United States. 
(c) PROHIBITION ON SUPPORT OF ACTIVITIES SUB-
JECT TO SANCTIONS.—The Corporation shall require any 
entity or party receiving support under title II to certify 
it, any entity owned or controlled by the entity or party, 
or any entity or party which owns or otherwise manages 
the entity or party receiving support, does not conduct any 
activities subject to sanctions imposed by the United 
States.
SEC. 504. PENALTIES FOR MISREPRESENTATION, FRAUD, 
AND BRIBERY. 
Subsections (g), (l), and (n) of section 237 of the 
Foreign Assistance Act of 1961 (22 U.S.C. 2197) shall 
apply with respect to the Corporation 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 the date of the enactment of this Act. 
TITLE VI—TRANSITIONAL 
PROVISIONS 
SEC. 601. DEFINITIONS. 
In this title: 
(1) AGENCY.—The term ‘‘agency’’ includes any 
entity, organizational unit, program, or function. 
(2) TRANSITION
PERIOD.—The term ‘‘transi-
tion period’’ means the period— 
(A) beginning on the date of the enactment 
of this Act; and 
(B) ending on the effective date of the re-
organization plan required by section 602(e). 
SEC. 602. REORGANIZATION PLAN. 
(a) SUBMISSION OF PLAN.— 
(1) IN
GENERAL.—Not later than 120 days 
after the date of the enactment of this Act, the 
President shall transmit to the appropriate congres-
sional committees a reorganization plan regarding 
the following: 
(A) The transfer of agencies, personnel, 
assets, and obligations to the Corporation pur-
suant to this title. 
(B) Any consolidation, reorganization, or 
streamlining of agencies transferred to the Cor-
poration pursuant to this title. 
(C) Any efficiencies or cost savings 
achieved as a result of the transfer of agencies, 
personnel, assets, and obligations to the Cor-
poration pursuant to this title, including reduc-
tions in unnecessary or duplicative operations, 
assets, and personnel. 
(2) CONSULTATION.—Not later than 15 days 
before the date on which the plan is transmitted 
pursuant to this subsection, the President shall con-
sult with the appropriate congressional committees 
on such plan. 
(b) PLAN ELEMENTS.—The plan transmitted under 
subsection (a) shall contain, consistent with this Act, such 
elements as the President deems appropriate, including 
the following: 
(1) Identification of any functions of agencies 
transferred to the Corporation pursuant to this title
that will not be transferred to the Corporation under 
the plan. 
(2) Specification of the steps to be taken to or-
ganize the Corporation, including the delegation or 
assignment of functions transferred to the Corpora-
tion. 
(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 trans-
ferred in connection with transfers under the plan. 
(5) Specification of any proposed disposition of 
property, facilities, contracts, records, and other as-
sets and obligations of agencies transferred under 
the plan. 
(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 Over-
seas Private Investment Corporation and the Admin-
istrator of the United States Agency for Inter-
national Development jointly submit to the Com-
mittee on Foreign Affairs and Committee on Appro-
priations of the House of Representatives and Com-
mittee on Foreign Relations and Committee on Ap-
propriations 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 procedures to be followed after the 
transfer of functions authorized by this section have 
occurred to coordinate between the Corporation and 
the United States Agency for International Develop-
ment in carrying out the functions so transferred. 
(d) MODIFICATION OF PLAN.—The President shall 
consult with the appropriate congressional committees be-
fore making any material modification or revision to the 
plan before the plan becomes effective in accordance with 
subsection (e). 
(e) EFFECTIVE DATE.— 
(1) IN GENERAL.—The reorganization plan de-
scribed in this section, including any modifications 
or revisions of the plan under subsection (c), shall 
become effective for an agency on the date specified 
in the plan (or the plan as modified pursuant to sub-
section (d)), except that such date may not be ear-
lier than 90 days after the date the President has 
transmitted the reorganization plan to the appro-
priate congressional committees pursuant to sub-
section (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. 
SEC. 603. TRANSFER OF FUNCTIONS. 
(a) IN GENERAL.—Effective at the end of the transi-
tion period, there shall be transferred to the Corporation 
the functions, personnel, assets, and liabilities of— 
(1) the Overseas Private Investment Corpora-
tion, as in existence on the day before the date of 
the enactment of this Act; 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-Devel-
opment Credit Authority guaranty programs 
authorized by the Foreign Assistance Act of 
1961 (22 U.S.C. 2151 et seq.) or other prede-
cessor Acts, as in existence on the date of the
enactment of this Act, other than any sovereign 
loan guaranties. 
(b) ADDITIONAL TRANSFER AUTHORITY.—Effective 
at the end of the transition period, there is authorized to 
be transferred to the Corporation 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 Microen-
terprise. 
(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 trans-
ferred to the Corporation or any other appropriate 
department or agency of the United States Govern-
ment the loan accounts and the legal rights and re-
sponsibilities for the sovereign loan guaranty port-
folio held by the United States Agency for Inter-
national Development as in existence on the day be-
fore the date of the enactment of this Act. 
(2) INCLUSION
IN
REORGANIZATION
PLAN.— 
The President shall include in the reorganization 
plan submitted under section 602 a description of 
the transfer authorized under paragraph (1).
(d) BILATERAL AGREEMENTS.—Any bilateral agree-
ment of the United States in effect on the date of the 
enactment of this Act that serves as the basis for pro-
grams of the Overseas Private Investment Corporation 
and the Development Credit Authority shall be considered 
as satisfying the requirements of section 301(a). 
(e) TRANSITION.—During the transition period, the 
agencies specified in subsection (a) shall— 
(1) continue to administer the assets and obli-
gations of those agencies; and 
(2) carry out such programs and activities au-
thorized under this Act as may be determined by the 
President. 
SEC. 604. TERMINATION OF OVERSEAS PRIVATE INVEST-
MENT 
CORPORATION 
AND 
OTHER 
SUPERCEDED AUTHORITIES. 
Effective at the end of the transition period— 
(1) the Overseas Private Investment Corpora-
tion is terminated; and 
(2) title IV of chapter 2 of part I of the For-
eign Assistance Act of 1961 (22 U.S.C. 2191 et 
seq.) (other than subsections (g), (l), and (n) of sec-
tion 237 of that Act) is repealed.
SEC. 605. TRANSITIONAL AUTHORITIES. 
(a) PROVISION
OF ASSISTANCE
BY OFFICIALS.— 
Until the transfer of an agency to the Corporation under 
section 603, any official having authority over or functions 
relating to the agency on the day before the date of the 
enactment of this Act shall provide to the Corporation 
such assistance, including the use of personnel and assets, 
as the Corporation may request in preparing for the trans-
fer and integration of the agency into the Corporation. 
(b) SERVICES AND PERSONNEL.—During the transi-
tion period, upon the request of the Corporation, the head 
of any executive agency may, on a reimbursable or non- 
reimbursable basis, provide services or detail personnel to 
assist with the transition. 
(c) ACTING OFFICIALS.— 
(1) IN
GENERAL.—During the transition pe-
riod, pending the advice and consent of the Senate 
to the appointment of an officer required by this Act 
to be appointed by and with such advice and con-
sent, the President may designate any officer whose 
appointment was required to be made by and with 
such advice and consent and who was such an officer 
before the date of the enactment of this Act (and 
who continues in office) or immediately before such 
designation, to act in such office until the same is
filled as provided in this Act. While so acting, such 
officers shall receive compensation at the higher of— 
(A) the rates provided by this Act for the 
respective offices in which they act; or 
(B) the rates provided for the offices held 
at the time of designation. 
(2) RULE OF CONSTRUCTION.—Nothing in this 
Act shall be construed to require the advice and con-
sent of the Senate to the appointment by the Presi-
dent to a position in the Corporation of any officer 
whose agency is transferred to the Corporation pur-
suant to this title and whose duties following such 
transfer are germane to those performed before such 
transfer. 
(d) TRANSFER OF PERSONNEL, ASSETS, OBLIGA-
TIONS, AND FUNCTIONS.—Upon the transfer of an agency 
to the Corporation under section 603— 
(1) the personnel, assets, and obligations held 
by or available in connection with the agency shall 
be transferred to the Corporation for appropriate al-
location, subject to the approval of the Director of 
the Office of Management and Budget and in ac-
cordance with section 1531(a)(2) of title 31, United 
States Code; and 
(2) the Corporation shall have all functions—
(A) relating to the agency that any other 
official could by law exercise in relation to the 
agency immediately before such transfer; and 
(B) vested in the Corporation by this Act 
or other law. 
SEC. 606. SAVINGS PROVISIONS. 
(a) COMPLETED ADMINISTRATIVE ACTIONS.— 
(1) IN
GENERAL.—Completed administrative 
actions of an agency shall not be affected by the en-
actment of this Act or the transfer of such agency 
to the Corporation under section 603, but shall con-
tinue in effect according to their terms until amend-
ed, modified, superseded, terminated, set aside, or 
revoked in accordance with law by an officer of the 
United States or a court of competent jurisdiction, 
or by operation of law. 
(2) COMPLETED ADMINISTRATIVE ACTION DE-
FINED.—In this subsection, the term ‘‘completed ad-
ministrative action’’ includes orders, determinations, 
rules, regulations, personnel actions, permits, agree-
ments, grants, contracts, certificates, policies, li-
censes, registrations, and privileges. 
(b) PENDING PROCEEDINGS.— 
(1) IN GENERAL.—Pending proceedings in an 
agency, including notices of proposed rulemaking,
and applications for licenses, permits, certificates, 
grants, and financial assistance, shall continue not-
withstanding the enactment of this Act or the trans-
fer of the agency to the Corporation, unless discon-
tinued or modified under the same terms and condi-
tions and to the same extent that such discontinu-
ance could have occurred if such enactment or trans-
fer had not occurred. 
(2) ORDERS.—Orders issued in proceedings de-
scribed in paragraph (1), and appeals therefrom, 
and payments made pursuant to such orders, shall 
issue in the same manner and on the same terms as 
if this Act had not been enacted or the agency had 
not been transferred, and any such orders shall con-
tinue in effect until amended, modified, superseded, 
terminated, set aside, or revoked by an officer of the 
United States or a court of competent jurisdiction, 
or by operation of law. 
(c) PENDING CIVIL ACTIONS.—Pending civil actions 
shall continue notwithstanding the enactment of this Act 
or the transfer of an agency to the Corporation, and in 
such civil actions, proceedings shall be had, appeals taken, 
and judgments rendered and enforced in the same manner 
and with the same effect as if such enactment or transfer 
had not occurred.
(d) REFERENCES.—References relating to an agency 
that is transferred to the Corporation under section 603 
in statutes, Executive orders, rules, regulations, directives, 
or delegations of authority that precede such transfer or 
the date of the enactment of this Act shall be deemed to 
refer, as appropriate, to the Corporation, to its officers, 
employees, or agents, or to its corresponding organiza-
tional units or functions. Statutory reporting requirements 
that applied in relation to such an agency immediately be-
fore the effective date of this Act shall continue to apply 
following such transfer if they refer to the agency by 
name. 
(e) EMPLOYMENT PROVISIONS.— 
(1) REGULATIONS.—The Corporation may, in 
regulations prescribed jointly with the Director of 
the Office of Personnel Management, adopt the 
rules, procedures, terms, and conditions, established 
by statute, rule, or regulation before the date of the 
enactment of this Act, relating to employment in any 
agency transferred to the Corporation under section 
603. 
(2) EFFECT OF TRANSFER ON CONDITIONS OF 
EMPLOYMENT.—Except as otherwise provided in this 
Act, or under authority granted by this Act, the 
transfer pursuant to this title of personnel shall not
alter the terms and conditions of employment, in-
cluding compensation, of any employee so trans-
ferred. 
(f) STATUTORY REPORTING REQUIREMENTS.—Any 
statutory reporting requirement that applied to an agency 
transferred to the Corporation under this title immediately 
before the date of the enactment of this Act shall continue 
to apply following that transfer if the statutory require-
ment refers to the agency by name. 
SEC. 607. OTHER TERMINATIONS. 
Except as otherwise provided in this Act, whenever 
all the functions vested by law in any agency have been 
transferred pursuant to this title, each position and office 
the incumbent of which was authorized to receive com-
pensation at the rates prescribed for an office or position 
at level II, III, IV, or V of the Executive Schedule under 
subchapter II of chapter 53 of title 5, United States Code, 
shall terminate. 
SEC. 608. INCIDENTAL TRANSFERS. 
The Director of the Office of Management and Budg-
et, in consultation with the Corporation, is authorized and 
directed to make such additional incidental dispositions of 
personnel, assets, and liabilities held, used, arising from, 
available, or to be made available, in connection with the
functions transferred by this title, as the Director may de-
termine necessary to accomplish the purposes of this Act. 
SEC. 609. REFERENCE. 
With respect to any function transferred under this 
title (including under a reorganization plan under section 
602) and exercised on or after the date of the enactment 
of this Act, reference in any other Federal law to any de-
partment, commission, or agency or any officer or office 
the functions of which are so transferred shall be deemed 
to refer to the Corporation or official or component of the 
Corporation to which that function is so transferred. 
SEC. 610. CONFORMING AMENDMENTS. 
(a) EXEMPT PROGRAMS.—Section 255(g) of the Bal-
anced Budget and Emergency Deficit Control Act of 1985 
(2 U.S.C. 905(g)) is amended by striking ‘‘Overseas Pri-
vate Investment Corporation, Noncredit Account (71– 
4184–0–3–151).’’ and inserting ‘‘United States Inter-
national Development Finance Corporation.’’. 
(b) EXECUTIVE SCHEDULE.—Title 5, United States 
Code, is amended— 
(1) in section 5314, by striking ‘‘President, 
Overseas Private Investment Corporation.’’; 
(2) in section 5315, by striking ‘‘Executive Vice 
President, Overseas Private Investment Corpora-
tion.’’; and
(3) in section 5316, by striking ‘‘Vice Presi-
dents, Overseas Private Investment Corporation 
(3).’’. 
(c) OFFICE
OF INTERNATIONAL TRADE
OF
THE 
SMALL BUSINESS ADMINISTRATION.—Section 22 of the 
Small Business Act (15 U.S.C. 649) is amended— 
(1) in subsection (b), in the matter preceding 
paragraph (1), by striking ‘‘the President of the 
Overseas Private Investment Corporation, Director’’ 
and inserting ‘‘the Board of Directors of the United 
States International Development Finance Corpora-
tion, the Director’’; and 
(2) by striking ‘‘Overseas Private Investment 
Corporation’’ each place it appears and inserting 
‘‘United States International Development Finance 
Corporation’’. 
(d) UNITED STATES
AND FOREIGN COMMERCIAL 
SERVICE.—Section 2301 of the Export Enhancement Act 
of 1988 (15 U.S.C. 4721) is amended by striking ‘‘Over-
seas Private Investment Corporation’’ each place it ap-
pears and inserting ‘‘United States International Develop-
ment Finance Corporation’’. 
(e) 
TRADE
PROMOTION
COORDINATING
COM-
MITTEE.—Section 2312(d)(1)(K) of the Export Enhance-
ment Act of 1988 (15 U.S.C. 4727(d)(1)(K)) is amended
by striking ‘‘Overseas Private Investment Corporation’’ 
and inserting ‘‘United States International Development 
Finance Corporation’’. 
(f) INTERAGENCY TRADE DATA ADVISORY COM-
MITTEE.—Section 5402(b) of the Omnibus Trade and 
Competitiveness Act of 1988 (15 U.S.C. 4902(b)) is 
amended by striking ‘‘the President of the Overseas Pri-
vate Investment Corporation’’ and inserting ‘‘the Chief 
Executive Officer of the United States International De-
velopment Finance Corporation’’. 
(g) MISUSE OF NAMES OF FEDERAL AGENCIES.— 
Section 709 of title 18, United States Code, is amended 
by striking ‘‘ ‘Overseas Private Investment’, ‘Overseas Pri-
vate Investment Corporation’, or ‘OPIC’,’’ and inserting 
‘‘ ‘United States International Development Finance Cor-
poration’ or ‘DFC’ ’’. 
(h) ENGAGEMENT ON CURRENCY EXCHANGE RATE 
AND ECONOMIC POLICIES.—Section 701(c)(1)(A) of the 
Trade Facilitation and Trade Enforcement Act of 2015 
(19 U.S.C. 4421(c)(1)(A)) is amended by striking ‘‘Over-
seas Private Investment Corporation’’ and inserting 
‘‘United States International Development Finance Cor-
poration’’. 
(i) INTERNSHIPS WITH INSTITUTE
FOR INTER-
NATIONAL PUBLIC POLICY.—Section 625 of the Higher
Education Act of 1965 (20 U.S.C. 1131c(a)) is amended 
by striking ‘‘Overseas Private Investment Corporation’’ 
and inserting ‘‘United States International Development 
Finance Corporation’’. 
(j) FOREIGN ASSISTANCE ACT OF 1961.—The For-
eign Assistance Act of 1961 (22 U.S.C. 2151 et seq.) is 
amended— 
(1) 
in 
section 
449B(b)(2) 
(22 
U.S.C. 
2296b(b)(2)), by striking ‘‘Overseas Private Invest-
ment Corporation’’ and inserting ‘‘United States 
International Development Finance Corporation’’; 
and 
(2) 
in 
section 
481(e)(4)(A) 
(22 
U.S.C. 
2291(e)(4)(A)), in the matter preceding clause (i), 
by striking ‘‘(including programs under title IV of 
chapter 2, relating to the Overseas Private Invest-
ment Corporation)’’ and inserting ‘‘(and any support 
under title II of the Better Utilization of Invest-
ments Leading to Development Act of 2018, relating 
to the United States International Development Fi-
nance Corporation)’’. 
(k) ELECTRIFY AFRICA ACT OF 2015.—Sections 5 
and 7 of the Electrify Africa Act of 2015 (Public Law 
114–121; 22 U.S.C. 2293 note) are amended by striking 
‘‘Overseas Private Investment Corporation’’ each place it
appears and inserting ‘‘United States International Devel-
opment Finance Corporation’’. 
(l) FOREIGN AID TRANSPARENCY AND ACCOUNT-
ABILITY ACT OF 2016.—Section 2(3) of the Foreign Aid 
Transparency and Accountability Act of 2016 (Public Law 
114–191; 22 U.S.C. 2394c note) is amended— 
(1) in subparagraph (A), by striking ‘‘except 
for’’ and all that follows through ‘‘chapter 3’’ and 
insert ‘‘except for chapter 3’’; 
(2) in subparagraph (C), by striking ‘‘and’’ at 
the end; 
(3) in subparagraph (D), by striking the period 
at the end and inserting ‘‘; and’’; and 
(4) by adding at the end the following: 
‘‘(E) the Better Utilization of Investments 
Leading to Development Act of 2018.’’. 
(m) SUPPORT FOR EAST EUROPEAN DEMOCRACY 
(SEED) PROGRAM.—The Support for East European De-
mocracy (SEED) Act of 1989 (22 U.S.C. 5401 et seq.) 
is amended— 
(1) in section 2(c) (22 U.S.C. 5401(c)), by 
striking paragraph (12) and inserting the following: 
‘‘(12) UNITED STATES INTERNATIONAL DEVEL-
OPMENT FINANCE CORPORATION.—Programs of the
(B) in subsection (a), in the matter pre-
ceding paragraph (1), by striking ‘‘Overseas 
Private Investment Corporation’’ and inserting 
‘‘United States International Development Fi-
nance Corporation’’; and 
(C) in subsection (b), in the matter pre-
ceding paragraph (1), by striking ‘‘Overseas 
Private Investment Corporation shall include in 
its annual report required under section 240A 
of the Foreign Assistance Act of 1961 (22 
U.S.C. 2200a)’’ and inserting ‘‘United States 
International Development Finance Corporation 
shall include in its annual report required under 
section 403 of the Better Utilization of Invest-
ments Leading to Development Act of 2018’’; 
and 
(2) 
in 
section 
916(a)(2)(I) 
(42 
U.S.C. 
17336(a)(2)(I)), by striking ‘‘Overseas Private In-
vestment Corporation:’’ and inserting ‘‘United 
States International Development Finance Corpora-
tion;’’.
(w) EFFECTIVE DATE.—The amendments made by 
this section shall take effect at the end of the transition 
period. 
Passed the House of Representatives July 17, 2018. 
Attest: 
Clerk.
115TH CONGRESS 
2D SESSION 
H. R. 5105 
AN ACT 
To establish the United States International Devel-
opment Finance Corporation, and for other pur-
poses.