H. R. 302—326 
SEC. 1462. 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 congressional committees a reorganization 
plan regarding the following: 
(A) The transfer of agencies, personnel, assets, and 
obligations to the Corporation pursuant to this title. 
(B) Any consolidation, reorganization, or streamlining 
of agencies transferred to the Corporation pursuant to this 
title. 
(C) Any efficiencies or cost savings achieved or addi-
tional costs incurred as a result of the transfer of agencies, 
personnel, assets, and obligations to the Corporation pursu-
ant to this title, including reductions 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 consult with the appropriate congressional 
committees on such plan. 
(b) PLAN ELEMENTS.—The plan transmitted under subsection 
(a) shall contain, consistent with this division, 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 trans-
ferred to the Corporation under the plan. 
(2) Specification of the steps to be taken to organize the 
Corporation, including the delegation or assignment of functions 
transferred to the Corporation. 
(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 Cor-
poration of unexpended funds transferred in connection with 
transfers under the plan. 
(5) Specification of any proposed disposition of property, 
facilities, contracts, records, and other assets and obligations 
of agencies transferred under the plan. 
(6) Specification of the number of authorized positions and 
personnel employed before the end of the transition period 
that will be transferred to the Corporation, including plans 
to mitigate the impact of such transfers on the United States 
Agency for International Development. 
(c) REPORT ON COORDINATION.— 
(1) IN GENERAL.—The transfer of functions authorized by 
this section may occur only after the President and Chief Execu-
tive Officer of the Overseas Private Investment Corporation 
and the Administrator of the United States Agency for Inter-
national Development jointly submit to the Committee on For-
eign Affairs and Committee on Appropriations of the House 
of Representatives and Committee on Foreign Relations and 
Committee on Appropriations 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
H. R. 302—327 
this section have occurred to coordinate between the Corpora-
tion 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 before making any mate-
rial 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 described 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 subsection (d)), except that such date may not be earlier 
than 90 days after the date the President has transmitted 
the reorganization plan to the appropriate congressional 
committees pursuant to subsection (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. 1463. TRANSFER OF FUNCTIONS. 
(a) IN GENERAL.—Effective at the end of the transition period, 
there shall be transferred to the Corporation the functions, per-
sonnel, assets, and liabilities of— 
(1) the Overseas Private Investment Corporation, 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-Development Credit Authority guaranty 
programs authorized by the Foreign Assistance Act of 1961 
(22 U.S.C. 2151 et seq.) or other predecessor 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, with the concurrence of the Administrator of the 
United States Agency for International Development, 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 Microenterprise. 
(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 transferred to the Corporation 
or any other appropriate department or agency of the United 
States Government the loan accounts and the legal rights and 
responsibilities for the sovereign loan guaranty portfolio held 
by the United States Agency for International Development 
as in existence on the day before the date of the enactment 
of this Act. 
(2) INCLUSION IN REORGANIZATION PLAN.—The President 
shall include in the reorganization plan submitted under section
H. R. 302—328 
1462 a description of the transfer authorized under paragraph 
(1). 
(d) BILATERAL AGREEMENTS.—Any bilateral agreement of the 
United States in effect on the date of the enactment of this Act 
that serves as the basis for programs of the Overseas Private 
Investment Corporation and the Development Credit Authority 
shall be considered as satisfying the requirements of section 1431(a). 
(e) TRANSITION.—During the transition period, the agencies 
specified in subsection (a) shall— 
(1) continue to administer the assets and obligations of 
those agencies; and 
(2) carry out such programs and activities authorized under 
this division as may be determined by the President. 
SEC. 1464. TERMINATION OF OVERSEAS PRIVATE INVESTMENT COR-
PORATION AND OTHER SUPERCEDED AUTHORITIES. 
Effective at the end of the transition period— 
(1) the Overseas Private Investment Corporation is termi-
nated; and 
(2) title IV of chapter 2 of part I of the Foreign Assistance 
Act of 1961 (22 U.S.C. 2191 et seq.) (other than subsections 
(g), (l), (m), and (n) of section 237 of that Act) is repealed. 
SEC. 1465. TRANSITIONAL AUTHORITIES. 
(a) PROVISION OF ASSISTANCE BY OFFICIALS.—Until the transfer 
of an agency to the Corporation under section 1463, 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 
transfer and integration of the agency into the Corporation. 
(b) SERVICES AND PERSONNEL.—During the transition 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 period, pending 
the advice and consent of the Senate to the appointment of 
an officer required by this division to be appointed by and 
with such advice and consent, 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 end of the transition period (and who continues 
in office) or immediately before such designation, to act in 
such office until the same is filled as provided in this division. 
While so acting, such officers shall receive compensation at 
the higher of— 
(A) the rates provided by this division 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 division shall 
be construed to require the advice and consent of the Senate 
to the appointment by the President to a position in the Cor-
poration of any officer whose agency is transferred to the Cor-
poration pursuant to this title and whose duties following such 
transfer are germane to those performed before such transfer.
H. R. 302—329 
(d) TRANSFER OF PERSONNEL, ASSETS, OBLIGATIONS, AND FUNC-
TIONS.—Upon the transfer of an agency to the Corporation under 
section 1463— 
(1) the personnel, assets, and obligations held by or avail-
able in connection with the agency shall be transferred to 
the Corporation for appropriate allocation, subject to the 
approval of the Director of the Office of Management and 
Budget and in accordance 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 division or other 
law. 
SEC. 1466. SAVINGS PROVISIONS. 
(a) COMPLETED ADMINISTRATIVE ACTIONS.— 
(1) IN GENERAL.—Completed administrative actions of an 
agency shall not be affected by the enactment of this Act 
or the transfer of such agency to the Corporation under section 
1463, but shall continue in effect according to their terms 
until amended, 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 DEFINED.—In this 
subsection, the term ‘‘completed administrative action’’ includes 
orders, determinations, rules, regulations, personnel actions, 
permits, agreements, grants, contracts, certificates, policies, 
licenses, 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 notwithstanding the enactment of this Act or 
the transfer of the agency to the Corporation, unless discon-
tinued or modified under the same terms and conditions and 
to the same extent that such discontinuance could have 
occurred if such enactment or transfer had not occurred. 
(2) ORDERS.—Orders issued in proceedings described 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 division had not been enacted 
or the agency had not been transferred, and any such orders 
shall continue 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 con-
tinue notwithstanding the enactment of this Act or the transfer 
of an agency to the Corporation, and in such civil actions, pro-
ceedings 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 1463 in statutes,