22 USC 9683 - Transfer of functions

U.S Code last checked for updates: Nov 22, 2024

§ 9683.

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 October 5, 2018; 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 October 5, 2018, 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

(2)

Inclusion in reorganization plan

(d)

Bilateral agreements

(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 chapter as may be determined by the President.

(Pub. L. 115–254, div. F, title VI, § 1463, Oct. 5, 2018, 132 Stat. 3512.)

cite as: 22 USC 9683