Millennium Compacts for Regional Economic Integration Act 2016-06-28 Reported to Senate amended Millennium Compacts for Regional Economic Integration Act or the M-CORE Act

(Sec. 3) This bill amends he Millennium Challenge Act of 2003 to provide that a country that is eligible for assistance under such Act and the United States may enter into and have in effect at the same time not more than one additional compact if:

  • one or both of the compacts are or will be for purposes of regional economic integration, increased regional trade, or cross-border collaborations; and
  • the country is making considerable and demonstrable progress in implementing the terms of any existing compacts.

(Sec. 4) The bill provides that a country qualifying for candidate status as an eligible country with a per capita income that changes in the fiscal year such that the country would be reclassified from a low income country to a lower middle income country, or from a lower middle income country to a low income country, shall retain its candidacy status in its former income classification for such fiscal year and the two subsequent fiscal years.

(Sec. 5) A member of the corporation's board who is not a federal officer may continue to serve in each initial or additional appointment for up to one year until his or her successor is appointed.

(Sec. 6) The board, after entering into a compact, shall publish in the Federal Register a notice that the compact's summary and text are available on the corporation's Internet website and provide the website's address. (The board is currently required to publish a compact's summary and text in the Federal Register and on the corporation's Internet website.)

(Sec. 7) The bill prohibits assistance for a country that does not qualify as a candidate country for the fiscal year when such assistance is provided. (A candidate country is a country that: (1) satisfies specified low income- and assistance-related requirements; and (2) demonstrates a significant commitment to, but fails to meet, specified political, economic, and social criteria.)

(Sec. 8) Before the board selects an eligible country for a compact, the corporation shall provide the board with information on the country's treatment of civil society.

(Sec. 9) The corporation shall submit a study within 180 days assessing the feasibility of developing partnerships at the subnational level within candidate countries that would be complementary to and concurrent with national or regional investments.

]]> 2015-06-18 Introduced in Senate Millennium Compacts for Regional Economic Integration Act or the M-CORE Act

States that the purpose of this Act is to expand the Millennium Challenge Corporation's ability to develop compacts with nations, particularly in Africa, that promote regional economic integration and cross-border collaborations.

Amends the Millennium Challenge Act of 2003 to provide that an eligible country and the United States may enter into and have in effect at the same time not more than one additional Compact if:

  • one or both of the Compacts are or will be for purposes of regional economic integration, increased regional trade, or cross-border collaborations; and
  • the country is making considerable and demonstrable progress in implementing the terms of any existing Compacts.
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