HR 4980 · 111th Congress · Foreign Trade and International Finance

Kick OPIC Act of 2010

Introduced 2010-03-25· Sponsored by Rep. Murphy, Patrick J. [D-PA-8]· House

Bill Progress

Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to the House Committee on Foreign Affairs.(2010-03-25)

Plain Language Summary

[AI summary unavailable — showing source text] 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.…

Summarized by Claude AI · Non-partisan · For informational purposes only

Cosponsors (2)

2 Republicans