§7703 Establishment and management of the Millennium Challenge Corporation

Summary

Creates the Millennium Challenge Corporation inside the executive branch as a government-owned corporation to run the programs in this chapter. The President appoints the Chief Executive Officer with the Senate’s approval. Until that happens, the Board can unanimously pick a temporary acting official who already holds a Senate-confirmed federal job. The CEO reports to the Board, runs the Corporation, hires the staff with the Board’s approval, is paid at the rate for level II of the Executive Schedule (section 5313 of title 5), and has the same rank as a Deputy Secretary. Creates a Board of Directors that carries out Board duties in the chapter and sets its own rules. The Board includes the Secretary of State (who is the Chair), the Secretary of the Treasury, the USAID Administrator, the Corporation CEO, the U.S. Trade Representative, and four other presidential appointees with international experience who must be confirmed by the Senate. Each of those four must come from lists sent by the House and Senate majority and minority leaders (one each). Agency members serve while they hold their jobs. The four appointees serve 3 years, may be reappointed for 2 more years, and may stay until a successor is named or up to 1 year after their term ends. Vacancies are filled the same way. The Chair calls meetings. A majority is a quorum, and normally at least one of the four appointees must be part of that majority, except during the 135-day period beginning January 23, 2004. Agency members get no extra pay but get travel expenses. The four appointees get a daily pay rate equal to the highest rate under section 5332 of title 5 for days worked, plus travel and per diem, but not for more than 90 days in a year.