SEC. 102. ELECTRONIC PAY STUBS FOR TREASURY EM-
PLOYEES. 
(a) IN GENERAL.—For pay periods ending in fiscal 
year 2011 and any fiscal year thereafter, the Secretary 
of the Treasury shall, in coordination with the Office of 
Personnel Management, issue electronic pay stubs to em-
ployees of the Department of the Treasury who receive 
their pay by electronic funds transfer. 
(b) ELECTRONIC FUNDS TRANSFER DEFINED.—For 
purposes of this section, the term ‘‘electronic funds trans-
fer’’ has the meaning given such term by section 3332 of 
title 31, United States Code. 
SEC. 103. TERMINATION OF ADVANCED EARNED INCOME 
CREDIT. 
(a) IN GENERAL.—Chapter 25 of the Internal Rev-
enue Code of 1986 is amended by striking section 3507 
(relating to advance payment of earned income credit). 
(b) CONFORMING AMENDMENTS.— 
(1) Section 32 of such Code is amended by 
striking subsection (g). 
(2) Section 6012(a) of such Code is amended 
by striking paragraph (8) and redesignating para-
graph (9) as paragraph (8). 
(3) Section 6051(a) of such Code is amended 
by striking paragraph (7). 
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(4) Section 6302 of such Code is amended by 
striking subsection (i). 
(5) The table of sections for chapter 25 of such 
Code is amended by striking the item relating to sec-
tion 3507. 
(c) EFFECTIVE DATE.—The amendments made by 
this section shall apply to taxable years beginning after 
the date of the enactment of this Act. 
TITLE II—HUD SAVINGS 
SEC. 201. RENT SUBSIDIES UNDER HUD SECTION 8 HOUS-
ING CHOICE VOUCHER PROGRAM FOR ONE- 
PERSON HOUSEHOLDS. 
Paragraph (1) of section 8(o) of the United States 
Housing Act of 1937 (42 U.S.C. 1437f(o)(1)) is amended 
by adding at the end the following new subparagraph: 
‘‘(F) SINGLE
PERSON
FAMILIES.—In deter-
mining the amount of monthly assistance under this 
subsection for any family that consists of a single 
person who is initially provided such assistance after 
the date of the enactment of the Reduce and End 
our Deficits Using Commonsense Eliminations in 
the Treas-HUD and OPIC Programs Act or who 
moves to a new dwelling unit after such date of en-
actment, the payment standard used shall be the 
payment standard for the market area for an effi-
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ciency dwelling unit and the payment standard for 
a one-bedroom dwelling unit or any larger dwelling 
unit may not be used.’’. 
TITLE III—OPIC TERMINATION 
SEC. 301. SHORT TITLE. 
This title may be cited as the ‘‘OPIC Repeal Act’’. 
SEC. 302. TERMINATION OF OVERSEAS PRIVATE INVEST-
MENT CORPORATION. 
(a) TERMINATION OF AUTHORITY TO MAKE NEW 
OBLIGATIONS.— 
(1) TERMINATION
OF
AUTHORITY.—Effective 
on the date of the enactment of this Act, the Over-
seas Private Investment Corporation shall not issue 
any insurance, guaranties, or reinsurance, make any 
loan, or acquire any securities, under section 234 of 
the Foreign Assistance Act of 1961, enter into any 
agreements for any other activity authorized by such 
section 234, or enter into risk sharing 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 the date of the enactment of this 
Act. 
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(b) TERMINATION OF OPIC.—Effective September 
30, 2011, the Overseas Private Investment Corporation is 
abolished. 
(c) TRANSFER OF OPERATIONS TO AID.—The Ad-
ministrator of the Agency for International Development 
shall, effective October 1, 2011, perform the functions of 
the Overseas Private Investment Corporation with respect 
to contracts and agreements described in subsection (a)(2) 
until the expiration of such contracts and agreements, but 
shall not renew any such contract or agreement. The Ad-
ministrator shall take the necessary steps to wind up the 
affairs of the Corporation. 
(d) REPEAL OF AUTHORITIES.—Effective September 
30, 2011, 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 Administrator of the Agency 
for International Development under subsection (c). 
(e) APPROPRIATIONS.—Funds available to the Over-
seas Private Investment Corporation shall, upon the effec-
tive date of the repeal made by subsection (d), be trans-
ferred to the Administrator of the Agency for Inter-
national Development for use in performing the functions 
of the Corporation under subsection (c). Upon the expira-
tion of the contracts and agreements with respect to which 
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the Administrator is exercising such functions, any unex-
pended balances of the funds transferred under this sub-
section shall be deposited in the Treasury as miscellaneous 
receipts. 
SEC. 303. SAVINGS PROVISIONS. 
(a) PRIOR DETERMINATIONS NOT AFFECTED.—The 
repeal made by section 302(d) of the provisions of law set 
forth in such subsection shall not affect any order, deter-
mination, regulation, or contract that has been issued, 
made, or allowed to become effective under such provisions 
before the effective date of the repeal. All such orders, de-
terminations, regulations, and contracts shall continue in 
effect until modified, superseded, terminated, set aside, or 
revoked in accordance with law by the President, the Ad-
ministrator of the Agency for International Development, 
another authorized official, or a court of competent juris-
diction, or by operation of law. 
(b) PENDING PROCEEDINGS.— 
(1) EFFECT ON PENDING PROCEEDINGS.— 
(A) IN
GENERAL.—The repeal made by 
section 302(d) shall not affect any proceedings, 
including notices of proposed rulemaking, pend-
ing on the effective date of the repeal, before 
the Overseas Private Investment Corporation, 
except that no insurance, reinsurance, guar-
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