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) intro-
duced the following bill; which was referred to the Committee on Foreign 
Affairs 
A BILL 
To terminate the authorities of the Overseas Private 
Investment Corporation. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Kick OPIC Act of 
2010’’. 
SEC. 2. TERMINATION OF OVERSEAS PRIVATE INVESTMENT 
CORPORATION. 
(a) TERMINATION OF AUTHORITY TO MAKE NEW 
OBLIGATIONS.— 
VerDate Nov 24 2008 
06:48 Mar 27, 2010
Jkt 089200
PO 00000
Frm 00001
Fmt 6652
Sfmt 6201
E:\BILLS\H4980.IH
H4980
tjames on DSKG8SOYB1PROD with BILLS
(1) TERMINATION
OF
AUTHORITY.—Effective 
60 days after the date of the enactment of this Act, 
the Overseas Private Investment Corporation shall 
not issue any insurance, guaranties, or reinsurance, 
make any loan, or acquire any securities, under sec-
tion 234 of the Foreign Assistance Act of 1961, 
enter into any agreements for any other activity au-
thorized by such section 234, or enter into risk shar-
ing arrangements authorized by section 234A of that 
Act. 
(2) PRESERVATION
OF
EXISTING
CONTRACTS 
AND AGREEMENTS.—Paragraph (1) does not require 
the termination of any contract or other agreement 
entered into before such paragraph takes effect. 
(b) TERMINATION OF OPIC.—Effective upon the ex-
piration of the 180-day period beginning on the date of 
the enactment of this Act, the Overseas Private Invest-
ment Corporation is abolished. 
(c) TRANSFER OF OPERATIONS TO OMB.—The Di-
rector of the Office of Management and Budget shall, ef-
fective upon the expiration of the 180-day period begin-
ning on the date of the enactment of this Act, perform 
the functions of the Overseas Private Investment Corpora-
tion with respect to contracts and agreements described 
in subsection (a)(2) until the expiration of such contracts 
VerDate Nov 24 2008 
06:48 Mar 27, 2010
Jkt 089200
PO 00000
Frm 00002
Fmt 6652
Sfmt 6201
E:\BILLS\H4980.IH
H4980
tjames on DSKG8SOYB1PROD with BILLS
and agreements, but shall not renew any such contract 
or agreement. The Director shall take the necessary steps 
to wind up the affairs of the Corporation. 
(d) REPEAL OF AUTHORITIES.—Effective upon the 
expiration of the 180-day period beginning on the date of 
the enactment of this Act, title IV of chapter 2 of part 
I of the Foreign Assistance Act of 1961 (22 U.S.C. 2191 
and following) is repealed, but shall continue to apply with 
respect to functions performed by the Director of the Of-
fice of Management and Budget under subsection (c). 
(e) APPROPRIATIONS.—Funds available to the Cor-
poration shall, upon the effective date of the repeal made 
by subsection (d), be transferred to the Director of the 
Office of Management and Budget for use in performing 
the functions of the Corporation under subsection (c). 
Upon the expiration of the contracts and agreements with 
respect to which the Director is exercising such functions, 
any unexpended balances of the funds transferred under 
this subsection shall be deposited in the Treasury as mis-
cellaneous receipts. 
SEC. 3. SAVINGS PROVISIONS. 
(a) PRIOR DETERMINATIONS NOT AFFECTED.—The 
repeal made by section 2(d) of the provisions of law set 
forth in such section shall not affect any order, determina-
tion, regulation, or contract that has been issued, made, 
VerDate Nov 24 2008 
06:48 Mar 27, 2010
Jkt 089200
PO 00000
Frm 00003
Fmt 6652
Sfmt 6201
E:\BILLS\H4980.IH
H4980
tjames on DSKG8SOYB1PROD with BILLS