§7703 Establishment and Management of the Millennium Challenge Corporation

Summary

Creates a government agency called the Millennium Challenge Corporation in the executive branch to carry out this chapter. The agency must have a Chief Executive Officer (CEO) who runs it. The President appoints the CEO with the Senate’s approval, unless the Board unanimously picks an interim federal officer (who was also appointed by the President with Senate approval) in writing to serve until a permanent CEO is confirmed. The CEO reports to the Board, is paid at Executive Schedule level II under section 5313 of title 5, has the rank of a Deputy Secretary, manages the Corporation, and — with Board approval — appoints the Corporation’s officers. Creates a Board of Directors that sets rules and performs the Board duties in this chapter. The Board includes the Secretary of State (who is the Chair), the Secretary of the Treasury, the USAID Administrator, the MCC CEO, the U.S. Trade Representative, and four private individuals with international experience appointed by the President with Senate approval. Each of those four must come from lists given by the House majority leader, House minority leader, Senate majority leader, and Senate minority leader (one from each). Federal members serve on the Board while they hold their government jobs. The four private members serve 3-year terms, may be reappointed for 2 more years, and may stay until a successor is named or for 1 year after their term ends. A majority of members is a quorum, but except during the 135-day period beginning January 23, 2004, the quorum must include at least one of the four private members. The Chair calls meetings. Federal members get no extra pay but do get travel expenses; the four private members are paid the daily equivalent of the highest rate under section 5332 of title 5 for days worked and receive travel and per diem like federal rules, but they may not be paid for more than 90 days in any calendar year.