M-CORE Act

[AI summary unavailable — showing source text] Millennium Compacts for Regional Economic Integration Act or the M-CORE Act This bill amends the Millennium Challenge Act of 2003 to establish beginning with FY2013 new assistance criteria for a low-income or a lower middle income candidate country eligible to enter into a Millennium Challenge Compact with the United States. Such a country must: have a per capita income equal to or less than the lower middle income country threshold established by the International Bank for Reconstruction and Development for the fiscal year; be among the 75 countries identified by the Bank as having the lowest per capita income; and not be ineligible to receive U.S. economic assistance under part I of the Foreign Assistance Act of 1961. Reclassification limits are set forth as follows: if the per capita income of a low-income candidate country changes during the fiscal year so that it would be reclassified as a lower middle income country, it shall be deemed to continue to meet the per capita income requirements for that fiscal year and the two subsequent fiscal years; and if the per capita income of a lower middle income candidate country changes during the fiscal year so that it would be reclassi…