Kick OPIC Act of 2010 - Prohibits the Overseas Private Investment Corporation (OPIC) from issuing insurance, guaranties, or reinsurance, making loan, acquiring securities, or entering into risk sharing arrangements under the Foreign Assistance Act of 1961, effective 60 days after enactment of this Act. Abolishes OPIC 180 days after enactment.
Requires the Director of the Office of Management and Budget (OMB) to perform the functions of OPIC with respect to any outstanding contracts and agreements until their expiration and to take necessary steps to wind up the affairs of OPIC. Sets forth provisions regarding the termination of OPIC authorities, the transfer of funds, and the effect on prior determinations and pending proceedings.
[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4980 Introduced in House (IH)]
111th CONGRESS
2d Session
H. R. 4980
To terminate the authorities of the Overseas Private Investment
Corporation.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
March 25, 2010
Mr. Patrick J. Murphy of Pennsylvania (for himself and Mr. Flake)
introduced the following bill; which was referred to the Committee on
Foreign Affairs
_______________________________________________________________________
A BILL
To terminate the authorities of the Overseas Private Investment
Corporation.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Kick OPIC Act of 2010''.
SEC. 2. TERMINATION OF OVERSEAS PRIVATE INVESTMENT CORPORATION.
(a) Termination of Authority To Make New Obligations.--
(1) Termination of authority.--Effective 60 days after the
date of the enactment of this Act, the Overseas 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 such paragraph takes
effect.
(b) Termination of OPIC.--Effective upon the expiration of the 180-
day period beginning on the date of the enactment of this Act, the
Overseas Private Investment Corporation is abolished.
(c) Transfer of Operations to OMB.--The Director of the Office of
Management and Budget shall, effective upon the expiration of the 180-
day period beginning on the date of the enactment of this Act, 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 Director shall take the
necessary steps to wind up the affairs of the Corporation.
(d) Repeal of Authorities.--Effective upon the expiration of the
180-day period beginning on the date of the enactment of this Act,
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 Director of the Office of
Management and Budget under subsection (c).
(e) Appropriations.--Funds available to the Corporation shall, upon
the effective date of the repeal made by subsection (d), be transferred
to the Director of the Office of Management and Budget for use in
performing the functions of the Corporation under subsection (c). Upon
the expiration of the contracts and agreements with respect to which
the Director is exercising such functions, any unexpended balances of
the funds transferred under this subsection shall be deposited in the
Treasury as miscellaneous receipts.
SEC. 3. SAVINGS PROVISIONS.
(a) Prior Determinations Not Affected.--The repeal made by section
2(d) of the provisions of law set forth in such section shall not
affect any order, determination, 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,
determinations, regulations, and contracts shall continue in effect
until modified, superseded, terminated, set aside, or revoked in
accordance with law by the President, the Director of the Office of
Management and Budget, or other authorized official, a court of
competent jurisdiction, or by operation of law.
(b) Pending Proceedings.--
(1) Effect on pending proceedings.--
(A) In general.--The repeal made by section 2(d)
shall not affect any proceedings, including notices of
proposed rulemaking, pending on the effective date of
the repeal, before the Overseas Private Investment
Corporation, except that no insurance, reinsurance,
guarantee, or loan may be issued pursuant to any
application pending on such effective date. Such
proceedings, to the extent that they relate to
functions performed by the Director of the Office of
Management and Budget after such repeal, shall be
continued. Orders shall be issued in such proceedings,
appeals shall be taken therefrom, and payments shall be
made pursuant to such orders, as if this Act had not
been enacted; and orders issued in any such proceedings
shall continue in effect until modified, terminated,
superseded, or revoked by the Director of the Office of
Management and Budget, by a court of competent
jurisdiction, or by operation of law.
(B) Construction.--Nothing in this subsection shall
be deemed to prohibit the discontinuance or
modification of any proceeding described in
subparagraph (A) under the same terms and conditions
and to the same extent that such proceeding could have
been discontinued or modified if this Act had not been
enacted.
(2) Regulations for transfer of proceedings.--The Director
of the Office of Management and Budget is authorized to issue
regulations providing for the orderly transfer of proceedings
continued under paragraph (1).
(c) Actions.--Except as provided in subsection (e)--
(1) the provisions of this Act shall not affect suits
commenced before the effective date of the repeal made by
section 2(d); and
(2) in all such suits, proceedings shall be had, appeals
taken, and judgments rendered in the same manner and effect as
if this Act had not been enacted.
(d) Liabilities Incurred.--No suit, action, or other proceeding
commenced by or against an individual in the official capacity of such
individual as an officer of the Overseas Private Investment Corporation
shall abate by reason of the enactment of this Act. No cause of action
by or against the Overseas Private Investment Corporation, or by or
against any officer thereof in the official capacity of such officer,
shall abate by reason of the enactment of this Act.
(e) Parties.--If, before the effective date of the repeal made by
section 2(d), the Overseas Private Investment Corporation or an officer
thereof in the official capacity of such officer, is a party to a suit,
then such suit shall be continued with the Director of the Office of
Management and Budget substituted or added as a party.
(f) Review.--Orders and actions of the Director of the Office of
Management and Budget in the exercise of functions of the Overseas
Private Investment Corporation shall be subject to judicial review to
the same extent and in the same manner as if such orders and actions
had been issued or taken by the Overseas Private Investment
Corporation. Any statutory requirements relating to notice, hearings,
action upon the record, or administrative review that apply to any
function of the Overseas Private Investment Corporation shall apply to
the exercise of such function by the Director of the Office of
Management and Budget.
SEC. 4. TECHNICAL AND CONFORMING AMENDMENTS.
(a) Title 5, United States Code.--(1) Section 5314 of title 5,
United States Code, is amended by striking
``President, Overseas Private Investment Corporation.''.
(2) Section 5315 of title 5, United States Code, is amended by
striking
``Executive Vice President, Overseas Private Investment
Corporation.''.
(3) Section 5316 of title 5, United States Code, is amended by
striking
``Vice Presidents, Overseas Private Investment Corporation
(3).''.
(b) Other Amendments and Repeals.--(1) Section 222(a) of the
Foreign Assistance Act of 1961 (22 U.S.C. 2182) is amended by inserting
after ``section 238(c)'' the following: ``as in effect on the day
before the effective date of the repeal of that section made by section
2(d) of the OPIC Abolition Act''.
(2) Section 222A of the Foreign Assistance Act of 1961 (22 U.S.C.
2182a) is amended--
(A) by striking subsections (f) and (g); and
(B) by redesignating subsections (h) and (i) as subsections
(f) and (g), respectively.
(3) Section 499B(b) of the Foreign Assistance Act of 1961 (22
U.S.C. 2296b(b)) is amended--
(A) by striking paragraph (2); and
(B) by redesignating paragraph (3) as paragraph (2).
(4) Section 2301(b)(9) of the Export Enhancement Act of 1988 (15
U.S.C. 4721(b)(9)) is amended by striking ``the Overseas Private
Investment Corporation,''.
(5) Section 2312(d)(1) of the Export Enhancement Act of 1988 (15
U.S.C. 4727(d)(1)) is amended--
(A) by striking subparagraph (K); and
(B) by redesignating subparagraphs (L) and (M) as
subparagraphs (K) and (L), respectively.
(6) Section 5402(b) of the Omnibus Trade and Competitiveness Act of
1988 (15 U.S.C. 4902(b)) is amended--
(A) in paragraph (12), by adding ``and'' after the
semicolon;
(B) by striking paragraph (13); and
(C) by redesignating paragraph (14) as paragraph (13).
(7) Section 625(a) of the Higher Education Act of 1965 (20 U.S.C.
1131c(a)) is amended by striking ``the Overseas Private Investment
Corporation,''.
(8) Section 481(e)(4)(A) of the Foreign Assistance Act of 1961 (22
U.S.C. 2291(e)(4)(A)) is amended by striking ``(including programs
under title IV of chapter 2, relating to the Overseas Private
Investment Corporation)''.
(9) Section 202(b)(2)(B) of the Cuban Liberty and Democratic
Solidarity (LIBERTAD) Act of 1996 (22 U.S.C. 6062(b)(2)(B)) is
amended--
(A) by striking clause (iv); and
(B) by redesignating clauses (v), (vi), and (vii) as
clauses (iv), (v), and (vi), respectively.
(10) Section 103(7)(A) of the Victims of Trafficking and Violence
Protection Act of 2000 (22 U.S.C. 7102(7)(A)) is amended--
(A) in clause (vii), by adding ``and'' after the semicolon;
(B) by striking clause (viii); and
(C) by redesignating clause (ix) as clause (viii).
(11) Section 405(a)(10) of the International Religious Freedom Act
of 1998 (22 U.S.C. 6445(a)(10)) is amended by striking ``, the Overseas
Private Investment Corporation,''.
(12) Section 732(b) of the Global Environmental Protection
Assistance Act of 1989 (22 U.S.C. 7902(b)) is amended by striking ``the
Overseas Private Investment Corporation,''.
(13) Section 916(a)(2) of the Energy Independence and Security Act
of 2007 (42 U.S.C. 17336(a)(2)) is amended--
(A) by striking subparagraph (I); and
(B) by redesignating subparagraphs (J) through (M) as
subparagraphs (I) through (L), respectively.
(14) Section 6(d)(1) of the Belarus Democracy Act of 2004 (22
U.S.C. 5811 note) is amended by striking ``and the Overseas Private
Investment Corporation''.
(15) The following provisions of law are repealed:
(A) Section 5(b)(2) of the Overseas Private Investment
Corporation Amendments Act of 1981 (22 U.S.C. 2194a).
(B) Section 5 of the Taiwan Relations Act (22 U.S.C. 3304).
(C) Section 2(c)(12) of the Support for East European
Democracy (SEED) Act of 1989 (22 U.S.C. 5401(c)(12)).
(D) Section 9101(3)(H) of title 31, United States Code.
(E) Section 123 of the African Growth and Opportunity Act
(19 U.S.C. 3733), and the item relating to that section in the
table of contents of that Act.
(F) Section 104 of the Africa: Seeds of Hope Act of 1998
(22 U.S.C. 2293), and the item relating to that section in the
table of contents for that Act.
(G) Section 914 of the Energy Independence and Security Act
of 2007 (42 U.S.C. 17334), and the item relating to that
section in the table of contents for that Act.
(c) Effective Date.--The amendments and repeals made by this
section shall take effect upon the expiration of the 180-day period
beginning on the date of the enactment of this Act.
<all>
Introduced in House
Introduced in House
Referred to the House Committee on Foreign Affairs.
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