H.R. 4980 · 111th Congress
Kick OPIC Act of 2010
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Never voted on. It didn't reach a floor vote before the 111th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
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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.
What it does: CRS summary · Introduced in House · Mar 25, 2010
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.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Kick OPIC Act of 2010
Latest action (Mar 25, 2010): Referred to the House Committee on Foreign Affairs.
Policy area: Foreign Trade and International Finance · Origin: House · Introduced: Mar 25, 2010
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.