In this task, you are given text for US Congressional and California state bills, your task is to generate a summary for this bill.

SECTION 1. SHORT TITLE.

This Act may be cited as the ''African Development Foundation Act
of 2007''.

SEC. 2. RENAMING OF FOUNDATION.

(a) Renaming.--Section 503(a) of the African Development Foundation
Act (22 U.S.C. 290h-1(a)) is amended by striking ''African Development
Foundation'' and inserting ''United States African Development
Foundation''.
(b) References.--Any reference in any law, regulation, map,
document, paper, or other record of the United States to the African
Development Foundation shall be considered to be a reference to the
United States African Development Foundation.

SEC. 3. FUNCTIONS OF THE FOUNDATION.

(a) Entities Eligible To Receive Grants, Loans, and Loan
Guarantees.--Paragraph (1) of subsection (a) of section 505 of such Act
(22 U.S.C. 290h-3(a)(1)) is amended by inserting after ''other entity''
the following: ''(including small- and medium-sized enterprises)''.
(b) Use of Grant and Loan Funds.--Subparagraph (A) of such
paragraph (22 U.S.C. 290h-3(a)(1)(A)) is amended by striking ''local
development institutions and the support of development efforts
initiated by communities themselves'' and inserting ''local development
institutions, including capital and technical assistance funds that
promote the purposes of this title, and the support of development
efforts initiated by communities themselves or their members''.
(c) Increased Limitation on Funding of Individual Projects.--
Paragraph (2) of such subsection (22 U.S.C. 290h-3(a)(2)) is amended by
striking ''$250,000.'' and inserting ''$400,000. This funding
limitation may be exceeded only in exceptional circumstances and with
the approval of the Board of Directors and notification to Congress.
Approval of the Board of Directors and notification to Congress shall
not be required in the case of an increase of less than $50,000 that is
necessary to maintain the original value of an award in local
currency.''.
(d) Community Project Priorities.--Subsection (b) of such section
(22 U.S.C. 290h-3(b)) is amended--
(1) in the first sentence, by striking ''making grants,
loans, and loan guarantees'' and all that follows through
''development'' and inserting ''making awards under subsection
(a), the Foundation shall give priority to projects which
community groups and small- and medium-sized enterprises
undertake to foster development at the community level''; and
(2) in the second sentence, by striking ''make such grants,
loans, and loan guarantees'' and inserting ''make awards''.
(e) Authority To Make Awards to Non-African Entities.--Such section
is further amended by adding at the end the following new subsection:
''(c) Authority To Make Awards to Non-African Entities.--Upon the
approval of the Board of Directors and notification to Congress, the
Foundation may make an award to a small- or medium-sized enterprise
that is not wholly-owned and controlled by indigenous Africans if it
meets the following requirements:
''(1) Ownership of the entity is predominantly vested in
one or more individuals who are indigenous to Africa and who
are representative and knowledgeable of, and have a history of
responding to, the needs and aspirations of the poor.
''(2) Management and daily business operations of the
entity are controlled by one or more individuals who are
indigenous to and reside in Africa.''.
(f) Authority To Provide Training and Other Technical Assistance.--
Such section, as amended by subsection (e), is further amended by
adding at the end the following new subsection:
''(d) Authority To Provide Training and Other Technical
Assistance.--The Foundation may provide training and other assistance
to entities described in subsection (a) and to entities described in
subsection (c), subject to the requirements of such subsection, in
order to carry out the purposes specified in section 504.''.

SEC. 4. POWERS OF FOUNDATION.

Section 506(a) of such Act (22 U.S.C. 290h-4(a)) is amended--
(1) by redesignating paragraphs (9), (10), (11), and (12)
as paragraphs (10), (12), (13), and (14), respectively;
(2) by inserting after paragraph (8) the following new
paragraph:
''(9) may make advance payments in an African country in
accordance with lease or rental agreements for periods of time
determined by law or custom;''; and
(3) by inserting after paragraph (10), as redesignated by
paragraph (2) of this section, the following new paragraph:
''(11) may maintain bank accounts outside the United States
Treasury and retain any interest earned on such accounts in
furtherance of the purposes of this Act;''.

SEC. 5. MANAGEMENT OF FOUNDATION.

(a) Reimbursement of Transportation Expenses.--Subsection (b) of
section 507 of such Act (22 U.S.C. 290h-5(b)) is amended by inserting
after ''transportation expenses'' the following: ''(in accordance with
the Federal Travel Regulations (chapters 300 through 304 of title 41,
Code of Federal Regulations))''.
(b) Limited Authority To Make Appointments Without Regard to
Certain Civil Service Laws.--Subsection (d) of such section (22 U.S.C.
290h-5(d)) is amended by adding at the end the following new paragraph:
''(3) Subject to the full time equivalent (FTE) ceiling of the
Foundation, the president may, without regard to civil service laws
governing appointments in the competitive service, provide time-limited
appointments lasting up to 4 years to not more than 4 individuals.
Individuals so appointed shall be subject to termination without regard
to chapter 75 of title 5, United States Code.''.
(c) Elimination of Requirement To Establish Advisory Council.--
Subsection (e) of such section is amended--
(1) in paragraph (1), by striking ''shall'' and inserting
''may''; and
(2) in paragraph (2), by striking ''The Board'' and
inserting ''If an advisory council is established under
paragraph (1), the Board''.
African Development Foundation Act of 2007 - Amends the African Development Foundation Act to rename the African Development Foundation as the United States African Development Foundation.

Increases individual project funding limits.

Authorizes the Foundation to make awards to qualifying small- or medium-sized entities that are not wholly owned or controlled African entities.

Authorizes (current law requires) the Foundation's Board of Directors to establish an advisory council.