H.R. 5782 – Reduce and End our Deficits Using Commonsense Eliminations in the Treas-HUD and…

111th CONGRESS

2d Session

H. R. 5782

IN THE HOUSE OF REPRESENTATIVES

July 20, 2010

Mr. Adler of New Jersey (for himself, Mr. Peters, Mr. Himes, and Mr. Welch) introduced the following bill; which was referred to the Committee on Ways and Means, and in addition to the Committees on Financial Services and Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned

A BILL

To implement cost savings within the Department of the Treasury and the Department of Housing and Urban Development, and to terminate the Overseas Private Investment Corporation.

Short title; table of contents

(a)

Short title

This Act may be cited as the Reduce and End our Deficits Using Commonsense Eliminations in the Treas-HUD and OPIC Programs Act.

(b)

Table of contents

The table of contents for this Act is as follows:

Sec. 1. Short title; table of contents.

Title I—Treasury savings

Sec. 101. Limitations on obligation of funds for Bureau of the Public Debt and Financial Management Service.

Sec. 102. Electronic pay stubs for Treasury employees.

Sec. 103. Termination of advanced earned income credit.

Title II—HUD Savings

Sec. 201. Rent subsidies under HUD section

8 housing choice voucher program for one-person households.

Title III—OPIC Termination

Sec. 301. Short title.

Sec. 302. Termination of Overseas Private Investment Corporation.

Sec. 303. Savings provisions.

Sec. 304. Technical and conforming amendments.

Treasury savings

101.

Limitations on obligation of funds for Bureau of the Public Debt and Financial Management Service

(a)

Bureau of Public Debt

The total amount obligated in each of fiscal years 2011 through 2015 by the Bureau of the Public Debt in the Department of the Treasury shall not exceed $186,244,000.

(b)

Financial Management Service

The total amount obligated in each of fiscal years 2011 through 2015 by the Financial Management Service in the Department of the Treasury shall not exceed $235,132,000.

102.

Electronic pay stubs for Treasury employees

(a)

In general

For pay periods ending in fiscal year 2011 and any fiscal year thereafter, the Secretary of the Treasury shall, in coordination with the Office of Personnel Management, issue electronic pay stubs to employees of the Department of the Treasury who receive their pay by electronic funds transfer.

(b)

Electronic funds transfer defined

For purposes of this section, the term electronic funds transfer has the meaning given such term by section 3332 of title 31, United States Code.

103.

Termination of advanced earned income credit

(a)

In general

Chapter 25 of the Internal Revenue Code of 1986 is amended by striking section 3507 (relating to advance payment of earned income credit).

(b)

Conforming amendments

(1)

Section 32 of such Code is amended by striking subsection (g).

(2)

Section 6012(a) of such Code is amended by striking paragraph (8) and redesignating paragraph (9) as paragraph (8).

(3)

Section 6051(a) of such Code is amended by striking paragraph (7).

(4)

Section 6302 of such Code is amended by striking subsection (i).

(5)

The table of sections for chapter 25 of such Code is amended by striking the item relating to section 3507.

(c)

Effective date

The amendments made by this section shall apply to taxable years beginning after the date of the enactment of this Act.

HUD Savings

201.

Rent subsidies under HUD section 8 housing choice voucher program for one-person households

Paragraph (1) of section 8(o) of the United States Housing Act of 1937 (42 U.S.C. 1437f(o)(1)) is amended by adding at the end the following new subparagraph:

(F)

Single person families

In determining the amount of monthly assistance under this subsection for any family that consists of a single person who is initially provided such assistance after the date of the enactment of the Reduce and End our Deficits Using Commonsense Eliminations in the Treas-HUD and OPIC Programs Act or who moves to a new dwelling unit after such date of enactment, the payment standard used shall be the payment standard for the market area for an efficiency dwelling unit and the payment standard for a one-bedroom dwelling unit or any larger dwelling unit may not be used.

III

OPIC Termination

301.

Short title

This title may be cited as the OPIC Repeal Act.

302.

Termination of Overseas Private Investment Corporation

(a)

Termination of Authority To Make New Obligations

(1)

Termination of authority

Effective on the date of the enactment of this Act, the Overseas Private Investment Corporation shall not issue any insurance, guaranties, or reinsurance, make any loan, or acquire any securities, under section 234 of the Foreign Assistance Act of 1961, enter into any agreements for any other activity authorized by such section 234, or enter into risk sharing arrangements authorized by section 234A of that Act.

(2)

Preservation of existing contracts and agreements

Paragraph (1) does not require the termination of any contract or other agreement entered into before the date of the enactment of this Act.

(b)

Termination of OPIC

Effective September 30, 2011, the Overseas Private Investment Corporation is abolished.

(c)

Transfer of Operations to AID

The Administrator of the Agency for International Development shall, effective October 1, 2011, perform the functions of the Overseas Private Investment Corporation with respect to contracts and agreements described in subsection (a)(2) until the expiration of such contracts and agreements, but shall not renew any such contract or agreement. The Administrator shall take the necessary steps to wind up the affairs of the Corporation.

(d)

Repeal of Authorities

Effective September 30, 2011, title IV of chapter 2 of part I of the Foreign Assistance Act of 1961 (22 U.S.C. 2191 and following) is repealed, but shall continue to apply with respect to functions performed by the Administrator of the Agency for International Development under subsection (c).

(e)

Appropriations

Funds available to the Overseas Private Investment Corporation shall, upon the effective date of the repeal made by subsection (d), be transferred to the Administrator of the Agency for International Development for use in performing the functions of the Corporation under subsection (c). Upon the expiration of the contracts and agreements with respect to which the Administrator is exercising such functions, any unexpended balances of the funds transferred under this subsection shall be deposited in the Treasury as miscellaneous receipts.

303.

Savings provisions

(a)

Prior Determinations Not Affected

The repeal made by section 302(d) of the provisions of law set forth in such subsection shall not affect any order, determination, regulation, or contract that has been issued, made, or allowed to become effective under such provisions before the effective date of the repeal. All such orders, determinations, regulations, and contracts shall continue in effect until modified, superseded, terminated, set aside, or revoked in accordance with law by the President, the Administrator of the Agency for International Development, another authorized official, or a court of competent jurisdiction, or by operation of law.

(b)

Pending proceedings

(1)

Effect on pending proceedings

(A)

In general

The repeal made by section 302(d) shall not affect any proceedings, including notices of proposed rulemaking, pending on the effective date of the repeal, before the Overseas Private Investment Corporation, except that no insurance, reinsurance, guarantee, or loan may be issued pursuant to any application pending on such effective date. Such proceedings, to the extent that they relate to functions performed by the Administrator of the Agency for International Development after such repeal, shall be continued. Orders shall be issued in such proceedings, appeals shall be taken therefrom, and payments shall be made pursuant to such orders, as if this section had not been enacted; and orders issued in any such proceedings shall continue in effect until modified, terminated, superseded, or revoked by the Administrator of the Agency for International Development, by a court of competent jurisdiction, or by operation of law.

(B)

Construction

Nothing in this paragraph shall be deemed to prohibit the discontinuance or modification of any proceeding described in subparagraph (A) under the same terms and conditions and to the same extent that such proceeding could have been discontinued or modified if this section had not been enacted.

(2)

Regulations for transfer of proceedings

The Administrator of the Agency for International Development may issue regulations providing for the orderly transfer of proceedings continued under paragraph (1).

(c)

Actions

Except as provided in subsection (e)—

(1)

the provisions of this section shall not affect suits commenced before the effective date of the repeal made by section 302(d); and

(2)

in all such suits, proceedings shall be had, appeals taken, and judgments rendered in the same manner and effect as if this section had not been enacted.

(d)

Liabilities Incurred

No suit, action, or other proceeding commenced by or against an individual in the official capacity of such individual as an officer of the Overseas Private Investment Corporation shall abate by reason of the enactment of this section. No cause of action by or against the Overseas Private Investment Corporation, or by or against any officer thereof in the official capacity of such officer, shall abate by reason of the enactment of this section.

(e)

Parties

If, before the effective date of the repeal made by section 302(d), the Overseas Private Investment Corporation or an officer thereof in the official capacity of such officer, is a party to a suit, then such suit shall be continued with the Administrator of the Agency for International Development substituted or added as a party.

(f)

Review

Orders and actions of the Administrator of the Agency for International Development in the exercise of functions of the Overseas Private Investment Corporation shall be subject to judicial review to the same extent and in the same manner as if such orders and actions had been issued or taken by the Overseas Private Investment Corporation. Any statutory requirements relating to notice, hearings, action upon the record, or administrative review that apply to any function of the Overseas Private Investment Corporation shall apply to the exercise of such function by the Administrator of the Agency for International Development.

304.

Technical and conforming amendments

(a)

Title 5, United States Code

(1)

Section 5314 of title 5, United States Code, is amended by striking:

President, Overseas Private Investment Corporation.

(2)

Section 5315 of title 5, United States Code, is amended by striking:

Executive Vice President, Overseas Private Investment Corporation.

(3)

Section 5316 of title 5, United States Code, is amended by striking:

Vice Presidents, Overseas Private Investment Corporation (3).

(b)

Other Amendments and Repeals

(1)

Section 222(a) of the Foreign Assistance Act of 1961 (22 U.S.C. 2182) is amended by inserting after section 238(c) the following: as in effect on the day before the effective date of the repeal of that section made by section 302(d) of the OPIC Repeal Act.

(2)

Section 222A of the Foreign Assistance Act of 1961 (22 U.S.C. 2182a) is amended—

(A)

by striking subsections (f) and (g); and

(B)

by redesignating subsections (h) and (i) as subsections (f) and (g), respectively.

(3)

Section 499B(b) of the Foreign Assistance Act of 1961 (22 U.S.C. 2296b(b)) is amended—

(A)

by striking paragraph (2); and

(B)

by redesignating paragraph (3) as paragraph (2).

(4)

Section 2301(b)(9) of the Export Enhancement Act of 1988 (15 U.S.C. 4721(b)(9)) is amended by striking the Overseas Private Investment Corporation,.

(5)

Section 2312(d)(1) of the Export Enhancement Act of 1988 (15 U.S.C. 4727(d)(1)) is amended—

(A)

by striking subparagraph (K); and

(B)

by redesignating subparagraphs (L) and (M) as subparagraphs (K) and (L), respectively.

(6)

Section 5402(b) of the Omnibus Trade and Competitiveness Act of 1988 (15 U.S.C. 4902(b)) is amended—

(A)

in paragraph (12), by adding and after the semicolon;

(B)

by striking paragraph (13); and

(C)

by redesignating paragraph (14) as paragraph (13).

(7)

Section 625(a) of the Higher Education Act of 1965 (20 U.S.C. 1131c(a)) is amended by striking the Overseas Private Investment Corporation,.

(8)

Section 481(e)(4)(A) of the Foreign Assistance Act of 1961 (22 U.S.C. 2291(e)(4)(A)) is amended by striking (including programs under title IV of chapter 2, relating to the Overseas Private Investment Corporation).

(9)

Section 202(b)(2)(B) of the Cuban Liberty and Democratic Solidarity (LIBERTAD) Act of 1996 (22 U.S.C. 6062(b)(2)(B)) is amended—

(A)

by striking clause (iv); and

(B)

by redesignating clauses (v), (vi), and (vii) as clauses (iv), (v), and (vi), respectively.

(10)

Section 103(7)(A) of the Victims of Trafficking and Violence Protection Act of 2000 (22 U.S.C. 7102(7)(A)) is amended—

(A)

in clause (vii), by adding and after the semicolon;

(B)

by striking clause (viii); and

(C)

by redesignating clause (ix) as clause (viii).

(11)

Section 405(a)(10) of the International Religious Freedom Act of 1998 (22 U.S.C. 6445(a)(10)) is amended by striking , the Overseas Private Investment Corporation,.

(12)

Section 732(b) of the Global Environmental Protection Assistance Act of 1989 (22 U.S.C. 7902(b)) is amended by striking the Overseas Private Investment Corporation,.

(13)

Section 916(a)(2) of the Energy Independence and Security Act of 2007 (42 U.S.C. 17336(a)(2)) is amended—

(A)

by striking subparagraph (I); and

(B)

by redesignating subparagraphs (J) through (M) as subparagraphs (I) through (L), respectively.

(14)

Section 6(d)(1) of the Belarus Democracy Act of 2004 (22 U.S.C. 5811 note) is amended by striking and the Overseas Private Investment Corporation.

(15)

The following provisions of law are repealed:

(A)

Section 5(b)(2) of the Overseas Private Investment Corporation Amendments Act of 1981 (22 U.S.C. 2194a).

(B)

Section 5 of the Taiwan Relations Act (22 U.S.C. 3304).

(C)

Section 2(c)(12) of the Support for East European Democracy (SEED) Act of 1989 (22 U.S.C. 5401(c)(12)).

(D)

Section 9101(3)(H) of title 31, United States Code.

(E)

Section 123 of the African Growth and Opportunity Act (19 U.S.C. 3733), and the item relating to that section in the table of contents of that Act.

(F)

Section 104 of the Africa: Seeds of Hope Act of 1998 (22 U.S.C. 2293), and the item relating to that section in the table of contents for that Act.

(G)

Section 914 of the Energy Independence and Security Act of 2007 (42 U.S.C. 17334), and the item relating to that section in the table of contents for that Act.

(c)

Effective Date

The amendments and repeals made by this subsection shall take effect on October 1, 2011.

Reduce and End our Deficits Using Commonsense Eliminations in the Treas-HUD and OPIC Programs Act

Legislative Activity

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