Title 22 — Foreign Relations and Intercourse
Chapter 103 — Better Utilization of Investments Leading to Development
§ 9683. Transfer of functions
Statutory text
In general
Effective at the end of the transition period, there shall be transferred to the Corporation the functions, personnel, assets, and liabilities of—
the Overseas Private Investment Corporation, as in existence on the day before ; and
the following elements of the United States Agency for International Development:
The Development Credit Authority.
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 , other than any sovereign loan guaranties.
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:
The Office of Private Capital and Microenterprise.
The enterprise funds.
Sovereign loan guaranty transfer
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 .
Inclusion in reorganization plan
The President shall include in the reorganization plan submitted under section 9682 of this title a description of the transfer authorized under paragraph (1).
Bilateral agreements
Any bilateral agreement of the United States in effect on , 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 9631(a) of this title.
Transition
During the transition period, the agencies specified in subsection (a) shall—
continue to administer the assets and obligations of those agencies; and
carry out such programs and activities authorized under this chapter as may be determined by the President.
Legislative history
Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.
Better Utilization of Investments Leading to Development Act of 2018
Pub. L. 115–254 div. F title VI § 1463 · 132 Stat. 3187
Enacted · 22 U.S.C. § 9683
(Pub. L. 115–254, div. F, title VI, § 1463, Oct. 5, 2018, 132 Stat. 3512.)
Source evidence
Code source credit
(Pub. L. 115–254, div. F, title VI, § 1463, Oct. 5, 2018, 132 Stat. 3512.)Enacted provision · exact public law section
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, personnel, 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 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.
1 of 1 references resolved to an enrolled provision
Editorial Notes
References in Text
The Foreign Assistance Act of 1961, referred to in subsec. (a)(2)(B), is Pub. L. 87–195, , 75 Stat. 424, which is classified principally to chapter 32 (§ 2151 et seq.) of this title. For complete classification of this Act to the Code, see Short Title note set out under section 2151 of this title and Tables.
This chapter, referred to in subsec. (e)(2), was in the original “this division”, meaning division F of Pub. L. 115–254, , 132 Stat. 3485, which is classified principally to this chapter. For complete classification of division F to the Code, see Short Title note set out under section 9601 of this title and Tables.
Statutory Notes and Related Subsidiaries
Enhancement of Nongovernmental Sector in Poland and Hungary
Pub. L. 101–179, title III, § 302(b), , 103 Stat. 1311, provided that: “In accordance with its mandate to foster private initiative and competition and enhance the ability of private enterprise to make its full contribution to the development process, the Overseas Private Investment Corporation shall support projects in Poland and Hungary which will result in enhancement of the nongovernmental sector and reduction of state involvement in the economy.”
[For transfer of functions, personnel, assets, and liabilities of the Overseas Private Investment Corporation to the United States International Development Finance Corporation and treatment of related references, see this section and section 9686(d) of this title.]
Pub. L. 101–179, title III, § 302(c), , 103 Stat. 1311, provided that: “If the Foreign Operations, Export Financing, and Related Programs Appropriations Act, 1990 [Pub. L. 101–167], contains the same amendment that is made by subsection (a) of this section [amending former section 2199(f) of this title by inserting “, Poland, Hungary,” after “Yugoslavia”], the amendment made by that Act shall not be effective.”
Credits
(Pub. L. 115–254, div. F, title VI, § 1463, , 132 Stat. 3512.)