§7703 Establishment and Management of the Millennium Challenge Corporation

Summary

Creates the Millennium Challenge Corporation as a government-owned company inside the executive branch to run the programs in this chapter. The Corporation has a Chief Executive Officer who manages day-to-day work, answers to the Board, and is paid at Executive Schedule Level II with the rank of Deputy Secretary. The President picks the CEO with the Senate’s approval, though the Board can unanimously name a qualified federal officer to act as CEO until that happens. With the Board’s OK, the CEO hires the Corporation’s other officers. The Board of Directors runs the Corporation and makes its rules. The Board includes the Secretary of State (who is the Chair), the Secretary of the Treasury, the USAID Administrator, the Corporation’s CEO, the U.S. Trade Representative, and four experts chosen by the President with Senate approval. Each of the four must come from lists given by the majority and minority leaders of both the House and Senate. The federal officers serve on the Board while they hold their jobs. The four experts serve three-year terms, may be reappointed for two more years, and can stay until a successor is named or for up to one year after their term ends. A majority is needed to hold business, and usually that majority must include at least one of the four experts except during the 135-day period starting January 23, 2004. Federal officer members get no extra pay but get travel costs. The four expert members get daily pay and travel expenses, but pay is limited to no more than 90 days in a year.