22 USC 7703 - Establishment and management of the Millennium Challenge Corporation

U.S Code last checked for updates: May 05, 2024

§ 7703.

Establishment and management of the Millennium Challenge Corporation

(a)

Establishment

(b)

Chief Executive Officer

(1)

In general

(2)

Appointment

(A)

In general

(B)

Interim CEO

(3)

Relationship to Board

(4)

Compensation and rank

(A)

In general

(B)

Omitted

(5)

Authorities and duties

(6)

Authority to appoint officers

(c)

Board of Directors

(1)

Establishment

(2)

Duties

(3)

Membership

The Board shall consist of—

(A)

the Secretary of State, the Secretary of the Treasury, the Administrator of the United States Agency for International Development, the Chief Executive Officer of the Corporation, and the United States Trade Representative; and

(B)

four other individuals with relevant international experience who shall be appointed by the President, by and with the advice and consent of the Senate, of which—

(i)

one individual should be appointed from among a list of individuals submitted by the majority leader of the House of Representatives;

(ii)

one individual should be appointed from among a list of individuals submitted by the minority leader of the House of Representatives;

(iii)

one individual should be appointed from among a list of individuals submitted by the majority leader of the Senate; and

(iv)

one individual should be appointed from among a list of individuals submitted by the minority leader of the Senate.

(4)

Terms

(A)

Officers of the Federal Government

(B)

Other members

Each member of the Board described in paragraph (3)(B)—

(i)

shall be appointed for a term of 3 years;

(ii)

may be reappointed for a term of an additional 2 years; and

(iii)

may continue to serve in each such appointment until the earlier of—

(I)

the date on which his or her successor is appointed; or

(II)

the date that is 1 year after the expiration of his or her appointment or reappointment, as the case may be.

(C)

Vacancies

(5)

Chairperson

(6)

Quorum

(7)

Meetings

(8)

Compensation

(A)

Officers of the Federal Government

(i)

In general

(ii)

Travel expenses

(B)

Other members

(i)

In general

Except as provided in clause (ii), a member of the Board described in paragraph (3)(B)—

(I)

shall be paid compensation out of funds made available for the purposes of this chapter at the daily equivalent of the highest rate payable under section 5332 of title 5 for each day (including travel time) during which the member is engaged in the actual performance of duties as a member of the Board; and

(II)

while away from the member’s home or regular place of business on necessary travel in the actual performance of duties as a member of the Board, shall be paid per diem, travel, and transportation expenses in the same manner as is provided under subchapter I of chapter 57 of title 5.

(ii)

Limitation

(Pub. L. 108–199, div. D, title VI, § 604, Jan. 23, 2004, 118 Stat. 212; Pub. L. 115–167, title II, § 202, Apr. 23, 2018, 132 Stat. 1279.)

cite as: 22 USC 7703