[Congressional Bills 108th Congress]
[From the U.S. Government Publishing Office]
[S. 1240 Introduced in Senate (IS)]







108th CONGRESS
  1st Session
                                S. 1240

   To establish the Millennium Challenge Corporation, and for other 
                               purposes.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             June 11, 2003

   Mr. Lugar introduced the following bill; which was read twice and 
             referred to the Committee on Foreign Relations

_______________________________________________________________________

                                 A BILL


 
   To establish the Millennium Challenge Corporation, and for other 
                               purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE; TABLE OF CONTENTS.

    (a) Short Title.--This Act may be cited as the ``Millennium 
Challenge Act of 2003''.
    (b) Table of Contents.--The table of contents for this Act is as 
follows:

Sec. 1. Short title; table of contents.
Sec. 2. Findings; purpose.
Sec. 3. Definitions.
                TITLE I--MILLENNIUM CHALLENGE ASSISTANCE

Sec. 101. Establishment and management of the Millennium Challenge 
                            Corporation.
Sec. 102. Authorization for Millennium Challenge assistance.
Sec. 103. Candidate country.
Sec. 104. Eligible country.
Sec. 105. Eligible entity.
Sec. 106. Millennium Challenge Contract.
Sec. 107. Suspension of assistance to an eligible country.
Sec. 108. Disclosure.
Sec. 109. Annual report to Congress.
 TITLE II--STRUCTURE, FUNCTION, AND POWERS OF THE MILLENNIUM CHALLENGE 
                              CORPORATION

Sec. 201. Chief executive officer.
Sec. 202. Millennium Challenge Board.
Sec. 203. Coordination with USAID.
Sec. 204. Powers of the Corporation.
Sec. 205. Principal office.
Sec. 206. Personnel authorities.
Sec. 207. Personnel outside the United States.
Sec. 208. Use of services of other agencies.
Sec. 209. Administrative authorities.
Sec. 210. Applicability of chapter 91 of title 31, United States code.
   TITLE III--THE MILLENNIUM CHALLENGE ACCOUNT AND AUTHORIZATION OF 
                             APPROPRIATIONS

Sec. 301. Establishment of the Millennium Challenge Account.
Sec. 302. Authorization of appropriations.

SEC. 2. FINDINGS; PURPOSE.

    (a) Findings.--Congress makes the following findings:
            (1) On March 14, 2002, President George W. Bush stated that 
        ``America supports the international development goals in the 
        U.N. Millennium Declaration, and believes that the goals are a 
        shared responsibility of developed and developing countries.'' 
        The President also called for a ``new compact for global 
        development, defined by new accountability for both rich and 
        poor nations'' and pledged support for increased assistance 
        from the United States through the establishment of a 
        Millennium Challenge Account for countries that govern justly, 
        invest in their own people, and encourage economic freedom.
            (2) The elimination of extreme poverty and the achievement 
        of the other international development goals of the United 
        Nations Millennium Declaration adopted by the United Nations 
        General Assembly on September 8, 2000, are important objectives 
        and it is appropriate for the United States to make development 
        assistance available in a manner that will assist in achieving 
        such goals.
            (3) The availability of financial assistance through a 
        Millennium Challenge Account, linked to performance by 
        developing countries, can contribute significantly to the 
        achievement of the international development goals of the 
        United Nations Millennium Declaration.
    (b) Purposes.--The purposes of this Act are--
            (1) to provide United States assistance for global 
        development through the Millennium Challenge Corporation, as 
        described in section 102; and
            (2) to provide such assistance in a manner that promotes 
        economic growth and the elimination of extreme poverty and 
        strengthens good governance, economic freedom, and investments 
        in people.

SEC. 3. DEFINITIONS.

    In this Act:
            (1) Board.--The term ``Board'' means the Millennium 
        Challenge Board established by section 202.
            (2) Candidate country.--The term ``candidate country'' 
        means a country that meets the criteria set out in section 103.
            (3) CEO.--The term ``CEO'' means the chief executive 
        officer of the Corporation.
            (4) Corporation.--The term ``Corporation'' means the 
        Millennium Challenge Corporation established by section 101.
            (5) Eligible country.--The term ``eligible country'' means 
        a candidate country that is determined, under section 104, as 
        being eligible to receive assistance under this Act.
            (6) Millennium challenge account.--The term ``Millennium 
        Challenge Account'' means the account established under section 
        301.

                TITLE I--MILLENNIUM CHALLENGE ASSISTANCE

SEC. 101. ESTABLISHMENT AND MANAGEMENT OF THE MILLENNIUM CHALLENGE 
              CORPORATION.

    (a) Establishment.--There is established in the executive branch a 
corporation within the meaning of section 103 of title 5, United States 
Code, to be known as the Millennium Challenge Corporation with the 
structure, function, and powers described in title II.
    (b) Management of the Corporation.--
            (1) In general.--The responsibility for the management of 
        the Corporation shall be vested in a chief executive officer, 
        who shall report to the Secretary of State.
            (2) Consultation.--The CEO shall consult with the Board in 
        carrying out the responsibility described in paragraph (1).

SEC. 102. AUTHORIZATION FOR MILLENNIUM CHALLENGE ASSISTANCE.

    (a) Authority.--The Corporation is authorized to provide assistance 
to an eligible entity consistent with the purposes of this Act set out 
in section 2(b) to conduct programs or projects consistent with the 
objectives of a Millennium Challenge Contract. Assistance provided 
under this Act may be provided notwithstanding any other provision of 
law.
    (b) Exception.--Assistance under this Act may not be used for 
military assistance or training.
    (c) Form of Assistance.--Assistance under this Act may be provided 
in the form of grants to eligible entities.
    (d) Coordination.--The provision of assistance under this Act shall 
be coordinated with other United States foreign assistance programs.
    (e) Applications.--An eligible entity seeking assistance under this 
Act to conduct programs or projects consistent with the objectives of a 
Millennium Challenge Contract shall submit a proposal for the use of 
such assistance to the Board in such manner and accompanied by such 
information as the Board may reasonably require.

SEC. 103. CANDIDATE COUNTRY.

    (a) In General.--A country is a candidate country for the purposes 
of this Act--
            (1) during fiscal year 2004, if such country is eligible to 
        receive loans from the International Development Association;
            (2) during fiscal year 2005, if the per capita income of 
        such country is less than the historical per capita income 
        cutoff of the International Development Association for that 
        year; and
            (3) during any fiscal year after 2005--
                    (A) for which more than $5,000,000,000 has been 
                appropriated to the Millennium Challenge Account, if 
                the country is classified as a lower middle income 
                country by the World Bank on the first day of such 
                fiscal year; or
                    (B) for which not more than $5,000,000,000 has been 
                appropriated to such Millennium Challenge Account, the 
                per capita income of such country is less than the 
                historical per capita income cutoff of the 
                International Development Association for that year.
    (b) Limitation on Assistance to Certain Candidate Countries.--In a 
fiscal year in which subparagraph (A) of subsection (a)(3) applies with 
respect to determining candidate countries, not more than 20 percent of 
the amounts appropriated to the Millennium Challenge Account shall be 
available for assistance to countries that would not be candidate 
countries if subparagraph (B) of subsection (a)(3) applied during such 
year.

SEC. 104. ELIGIBLE COUNTRY.

    (a) Determination by the Board.--The Board shall determine whether 
a candidate country is an eligible country by evaluating the 
demonstrated commitment of the government of the candidate country to--
            (1) just and democratic governance, including a 
        demonstrated commitment to--
                    (A) promote political pluralism and the rule of 
                law;
                    (B) respect human and civil rights;
                    (C) protect private property rights;
                    (D) encourage transparency and accountability of 
                government; and
                    (E) limit corruption;
            (2) economic freedom, including a demonstrated commitment 
        to economic policies that--
                    (A) encourage citizens and firms to participate in 
                global trade and international capital markets;
                    (B) promote private sector growth; and
                    (C) strengthen market forces in the economy; and
            (3) investments in the people of such country, including 
        improving the availability of educational opportunities and 
        health care for all citizens of such country.
    (b) Assessing Eligibility.--
            (1) In general.--To evaluate the demonstrated commitment of 
        a candidate country for the purposes of subsection (a), the 
        Board shall use objective and quantifiable indicators of a 
        candidate country's performance with respect to the criteria 
        described in paragraphs (1), (2), and (3) of such subsection.
            (2) Annual publication of indicators.--
                    (A) Initial publication.--Not later than 45 days 
                prior to the final publication of indicators under 
                subparagraph (B) in any year, the Board shall publish 
                in the Federal Register and make available on the 
                Internet the indicators that the Board proposes to use 
                for the purposes of paragraph (1) in such year.
                    (B) Final publication.--Not later than 15 days 
                prior to the selection of eligible countries in any 
                year, the Board shall publish in the Federal Register 
                and make available on the Internet the indicators that 
                are to be used for the purposes of paragraph (1) in 
                such year.
            (3) Consideration of public comment.--The Board shall 
        consider any comments on the proposed indicators published 
        under paragraph (2)(A) that are received within 30 days after 
        the publication of such indicators when selecting the 
        indicators to be used for the purposes of paragraph (1).

SEC. 105. ELIGIBLE ENTITY.

    (a) Assistance.--Any eligible entity may receive assistance under 
this Act to carry out a project in an eligible country for the purpose 
of making progress toward achieving an objective of a Millennium 
Challenge Contract.
    (b) Determinations of Eligibility.--The Board shall determine 
whether a person or governmental entity is an eligible entity for the 
purposes of this section.
    (c) Eligible Entities.--For the purposes of this section, an 
eligible entity is--
            (1) a government, including a local or regional government; 
        or
            (2) a nongovernmental organization or other private entity.

SEC. 106. MILLENNIUM CHALLENGE CONTRACT.

    (a) In General.--The Board shall invite the government of an 
eligible country to enter into a Millennium Challenge Contract with the 
Corporation. A Millennium Challenge Contract shall establish a 
multiyear plan for the eligible country to achieve specific objectives 
consistent with the purposes set out in section 2(b).
    (b) Content.--A Millennium Challenge Contract shall include--
            (1) specific objectives to be achieved by the eligible 
        country during the term of the Contract;
            (2) a description of the actions to be taken by the 
        government of the eligible country and the United States 
        Government for achieving such objectives;
            (3) the role and contribution of private entities, 
        nongovernmental organizations, and other organizations in 
        achieving such objectives;
            (4) a description of beneficiaries, to the extent possible 
        disaggregated by gender;
            (5) regular benchmarks for measuring progress toward 
        achieving such objectives;
            (6) a schedule for achieving such objectives;
            (7) a schedule of evaluations to be performed to determine 
        whether the country is meeting its commitments under the 
        Contract;
            (8) a statement that the Corporation intends to consider 
        the eligible country's performance in achieving such objectives 
        in making decisions about providing continued assistance under 
        the Contract;
            (9) the strategy of the eligible country to sustain 
        progress made toward achieving such objectives after the 
        expiration of the Contract;
            (10) a plan to ensure financial accountability for any 
        assistance provided to a person or government in the eligible 
        country under this Act; and
            (11) a statement that nothing in the Contract may be 
        construed to create a legally binding or enforceable obligation 
        on the United States Government or on the Corporation.
    (c) Requirement for Consultation.--The Corporation shall seek to 
ensure that the government of an eligible country consults with private 
entities and nongovernmental organizations in the eligible country for 
the purpose of ensuring that the terms of a Millennium Challenge 
Contract entered into by the Corporation and the eligible country--
            (1) reflect the needs of the rural and urban poor in the 
        eligible country; and
            (2) provide means to assist poor men and women in the 
        eligible country to escape poverty through their own efforts.

SEC. 107. SUSPENSION OF ASSISTANCE TO AN ELIGIBLE COUNTRY.

    The Secretary of State shall direct the CEO to suspend the 
provision of assistance to an eligible country under a Millennium 
Challenge Contract during any period for which such eligible country is 
ineligible to receive assistance under a provision of the Foreign 
Assistance Act of 1961 (22 U.S.C. 2151 et seq.).

SEC. 108. DISCLOSURE.

    (a) Requirement for Disclosure.--The Corporation shall make 
available to the public on a continuous basis and on the earliest 
possible date, the following information:
            (1) A list of the candidate countries determined to be 
        eligible countries during any year.
            (2) The text of each Millennium Challenge Contract entered 
        into by the Corporation.
            (3) For assistance provided under this Act--
                    (A) the name of each entity to which assistance is 
                provided;
                    (B) the amount of assistance provided to the 
                entity; and
                    (C) a description of the program or project for 
                which assistance was provided.
            (4) For each eligible country, an assessment of--
                    (A) the progress made during each year by an 
                eligible country toward achieving the objectives set 
                out in the Millennium Challenge Contract entered into 
                by the eligible country; and
                    (B) the extent to which assistance provided under 
                this Act has been effective in helping the eligible 
                country to achieve such objectives.
    (b) Dissemination.--The information required to be disclosed under 
subsection (a) shall be made available to the public by means of 
publication in the Federal Register and posting on the Internet, as 
well as by any other methods that the Board determines appropriate.

SEC. 109. ANNUAL REPORT TO CONGRESS.

    Not later than January 31 of each year, the President shall submit 
to Congress a report on the assistance provided under this Act during 
the prior fiscal year. The report shall include--
            (1) information regarding obligations and expenditures for 
        assistance provided to each eligible country in the prior 
        fiscal year;
            (2) a discussion, for each eligible country, of the 
        objectives of such assistance;
            (3) a description of the coordination of assistance under 
        this Act with other United States foreign assistance and 
        related trade policies;
            (4) a description of the coordination of assistance under 
        this Act with the contributions of other donors; and
            (5) any other information the President considers relevant 
        to assistance provided under this Act.

 TITLE II--STRUCTURE, FUNCTION, AND POWERS OF THE MILLENNIUM CHALLENGE 
                              CORPORATION

SEC. 201. CHIEF EXECUTIVE OFFICER.

    (a) In General.--The President shall appoint, by and with the 
advice and consent of the Senate, a chief executive officer of the 
Corporation.
    (b) Relationship to the Secretary of State.--The CEO shall report 
to and be under the direct authority and foreign policy guidance of the 
Secretary of State. The Secretary of State shall coordinate the 
provision of United States foreign assistance.
    (c) Duties.--The CEO shall, in consultation with the Board, direct 
the performance of all functions and the exercise of all powers of the 
Corporation, including--
            (1) ensuring program and policy coordination among agencies 
        of the United States Government in carrying out this Act;
            (2) ensuring that assistance under this Act is coordinated 
        with other United States economic assistance programs;
            (3) pursuing coordination with other countries and 
        international organizations with respect to assistance to 
        countries receiving assistance under this Act;
            (4) ensuring proper management, implementation, and 
        oversight by agencies of the United States Government 
        responsible for assistance under this Act; and
            (5) resolving policy, program, and funding disputes among 
        agencies of the United States Government involved in carrying 
        out this Act.
    (d) Executive Level II.--Section 5313 of title 5, United States 
Code, is amended by adding at the end the following:
            ``Chief Executive Officer, Millennium Challenge 
        Corporation.''.

SEC. 202. MILLENNIUM CHALLENGE BOARD.

    (a) Establishment of the Board.--There is established a Millennium 
Challenge Board.
    (b) Composition.--The Board shall be composed of the following 
members:
            (1) The Secretary of State, who shall serve as the Chair of 
        the Board.
            (2) The Secretary of the Treasury.
            (3) The Administrator of the United States Agency for 
        International Development.
            (4) The CEO.
            (5) The United States Trade Representative.
    (c) Functions of the Board.--The Board shall perform the functions 
specified to be carried out by the Board in this Act.

SEC. 203. COORDINATION WITH USAID.

    (a) Requirement for Coordination.--An employee of the Corporation 
assigned to a United States diplomatic mission or consular post or a 
United States Agency for International Development field mission in a 
foreign country shall, in a manner that is consistent with the 
authority of the Chief of Mission, coordinate the performance of the 
functions of the Corporation in such country with the officer in charge 
of the United States Agency of International Development programs 
located in such country.
    (b) USAID Programs.--The Administrator of the United States Agency 
for International Development shall seek to ensure that appropriate 
programs of the Agency play a primary role in preparing candidate 
countries to become eligible countries under section 104.

SEC. 204. POWERS OF THE CORPORATION.

    (a) Powers.--The Corporation--
            (1) shall have perpetual succession unless dissolved by an 
        Act of Congress;
            (2) may adopt, alter, and use a seal, which shall be 
        judicially noticed;
            (3) may prescribe, amend, and repeal such rules, 
        regulations, and procedures as may be necessary for carrying 
        out the functions of the Corporation;
            (4) may make and perform such contracts, grants, and other 
        agreements with any person or government however designated and 
        wherever situated, as may be necessary for carrying out the 
        functions of the Corporation;
            (5) may determine and prescribe the manner in which its 
        obligations shall be incurred and its expenses allowed and 
        paid, including expenses for representation;
            (6) may lease, purchase, or otherwise acquire, improve, and 
        use such real property wherever situated, as may be necessary 
        for carrying out the functions of the Corporation;
            (7) may accept cash gifts or donations of services or of 
        property (real, personal, or mixed), tangible or intangible, 
        for the purpose of carrying out the provisions of this Act;
            (8) may use the United States mails in the same manner and 
        on the same conditions as the executive departments of 
        Government;
            (9) may contract with individuals for personal services, 
        who shall not be considered Federal employees for any provision 
        of law administered by the Office of Personnel Management;
            (10) may hire or obtain passenger motor vehicles; and
            (11) shall have such other powers as may be necessary and 
        incident to carrying out this Act.
    (b) Contracting Authority.--The functions and powers authorized by 
this Act may be performed without regard to any provision of law 
regulating the making, performance, amendment, or modification of 
contracts, grants, and other agreements.

SEC. 205. PRINCIPAL OFFICE.

    The Corporation shall maintain its principal office in the 
metropolitan area of Washington, District of Columbia.

SEC. 206. PERSONNEL AUTHORITIES.

    (a) Requirement To Prescribe a Human Resources Management System.--
The CEO shall, jointly with the Director of the Office of Personnel 
Management, prescribe regulations that establish a human resources 
management system, including a retirement benefits program, for the 
Corporation.
    (b) Relationship to Other Laws.--
            (1) Inapplicability of certain laws.--Except as provided in 
        paragraph (2), the provisions of title 5, United States Code, 
        and of the Foreign Service Act of 1980 (22 U.S.C. 3901 et seq.) 
        shall not apply to the human resource management program 
        established pursuant to paragraph (1).
            (2) Application of certain laws.--The human resources 
        management system established pursuant to subsection (a) may 
        not waive, modify, or otherwise affect the application to 
        employees of the Corporation of the following provisions:
                    (A) Section 2301 of title 5, United States Code.
                    (B) Section 2302(b) of such title.
                    (C) Chapter 63 of such title (relating to leave).
                    (D) Chapter 72 of such title (relating to 
                antidiscrimination).
                    (E) Chapter 73 of such title (relating to 
                suitability, security, and conduct).
                    (F) Chapter 81 of such title (relating to 
                compensation for work injuries).
                    (G) Chapter 85 of such title (relating to 
                unemployment compensation).
                    (H) Chapter 87 of such title (relating to life 
                insurance).
                    (I) Chapter 89 of such title (relating to health 
                insurance).
                    (J) Chapter 90 of such title (relating to long-term 
                care insurance).
            (3) Relationship to retirement benefits laws.--The 
        retirement benefits program referred to in subsection (a) shall 
        permit the employees of the Corporation to be eligible, unless 
the CEO determines otherwise, for benefits under--
                    (A) subchapter III of chapter 83 and chapter 84 of 
                title 5, United States Code (relating to retirement 
                benefits); or
                    (B) chapter 8 of title I of the Foreign Service Act 
                of 1980 (22 U.S.C. 4041 et seq.) (relating to the 
                Foreign Service Retirement and Disability System).
    (c) Appointment and Termination.--Except as otherwise provided in 
this section, the CEO may, without regard to any civil service or 
Foreign Service law or regulation, appoint and terminate employees as 
may be necessary to enable the Corporation to perform its duties.
    (d) Compensation.--
            (1) Authority to fix compensation.--Subject to the 
        provisions of paragraph (2), the CEO may fix the compensation 
        of employees of the Corporation.
            (2) Limitations on compensation.--The compensation for an 
        employee of the Corporation may not exceed the lesser of--
                    (A) the rate of compensation established under 
                title 5, United States Code, or any Foreign Service law 
                for an employee of the Federal Government who holds a 
                position that is comparable to the position held by the 
                employee of the Corporation; or
                    (B) the rate of pay prescribed for level IV of the 
                Executive Schedule under section 5315 of title 5, 
                United States Code.
    (e) Term of Employment.--
            (1) In general.--Except as provided in paragraphs (2) and 
        (3), no individual may be employed by the Corporation for a 
        total period of employment that exceeds 5 years.
            (2) Excepted positions.--The CEO, and not more than 3 other 
        employees of the Corporation who are designated by the CEO, may 
        be employed by the Corporation for an unlimited period of 
        employment.
            (3) Waiver.--The CEO may waive the maximum term of 
        employment described in paragraph (1) if the CEO determines 
        that such waiver is essential to the achievement of the 
        purposes of this Act.
    (f) Authority for Temporary Employees.--The CEO may procure 
temporary and intermittent services under section 3109(b) of title 5, 
United States Code, at rates for individuals which do not exceed the 
daily equivalent of the annual rate of basic pay prescribed for level V 
of the Executive Schedule under section 5316 of such title.
    (g) Detail of Federal Employees to the Corporation.--Any Federal 
Government employee may be detailed to the Corporation on a fully or 
partially reimbursable or on a nonreimbursable basis, and such detail 
shall be without interruption or loss of civil service or Foreign 
Service status or privilege.
    (h) Reinstatement.--An employee of the Federal Government serving 
under a career or career conditional appointment, or the equivalent, in 
a Federal agency who transfers to or converts to an appointment in the 
Corporation with the consent of the head of the agency is entitled to 
be returned to the employee's former position or a position of like 
seniority, status, and pay without grade or pay reduction in the agency 
if the employee--
            (1) is being separated from the Corporation for reasons 
        other than misconduct, neglect of duty, or malfeasance; and
            (2) applies for return to the agency not later than 30 days 
        before the date of the termination of the employment in the 
        Corporation.

SEC. 207. PERSONNEL OUTSIDE THE UNITED STATES.

    (a) Assignment to United States Embassies.--An employee of the 
Corporation, including an individual detailed to or contracted by the 
Corporation, may be assigned to a United States diplomatic mission or 
consular post or a United States Agency for International Development 
field mission.
    (b) Privileges and Immunities.--The Secretary of State shall seek 
to ensure that an employee of the Corporation, including an individual 
detailed to or contracted by the Corporation, and the members of the 
family of such employee, while the employee is performing duties in any 
country or place outside the United States, enjoy the privileges and 
immunities that are enjoyed by a member of the Foreign Service, or the 
family of a member of the Foreign Service, as appropriate, of 
comparable rank and salary of such employee, if such employee or a 
member of the family of such employee is not a national of or 
permanently resident in such country or place.
    (c) Responsibility of Chief of Mission.--An employee of the 
Corporation, including an individual detailed to or contracted by the 
Corporation, and a member of the family of such employee, shall be 
subject to section 207 of the Foreign Service Act of 1980 (22 U.S.C. 
3927) in the same manner as United States Government employees while 
the employee is performing duties in any country or place outside the 
United States if such employee or member of the family of such employee 
is not a national of or permanently resident in such country or place.

SEC. 208. USE OF SERVICES OF OTHER AGENCIES.

    The Corporation may utilize the information services, facilities 
and personnel of, or procure commodities from, any agency of the United 
States Government on a fully or partially reimbursable or 
nonreimbursable basis under such terms and conditions as may be agreed 
to by the head of such agency and the Corporation for carrying out this 
Act.

SEC. 209. ADMINISTRATIVE AUTHORITIES.

    The Corporation is authorized to use any of the administrative 
authorities contained in the State Department Basic Authorities Act of 
1956 (22 U.S.C. 2651a et seq.) and the Foreign Assistance Act of 1961 
(22 U.S.C. 2151 et seq.) unless such authority is inconsistent with a 
provision of this Act.

SEC. 210. APPLICABILITY OF CHAPTER 91 OF TITLE 31, UNITED STATES CODE.

    The Corporation shall be subject to chapter 91 of title 31, United 
States Code.

   TITLE III--THE MILLENNIUM CHALLENGE ACCOUNT AND AUTHORIZATION OF 
                             APPROPRIATIONS

SEC. 301. ESTABLISHMENT OF THE MILLENNIUM CHALLENGE ACCOUNT.

    There is established on the books of the Treasury an account to be 
known as the Millennium Challenge Account that shall be administered by 
the CEO under the direction of the Board. All amounts made available to 
carry out the provisions of this Act shall be deposited into such 
Account and such amounts shall be available to carry out such 
provisions.

SEC. 302. AUTHORIZATION OF APPROPRIATIONS.

    (a) In General.--There are authorized to be appropriated to carry 
out the provisions of this Act $1,000,000,000 for fiscal year 2004, 
$2,300,000,000 for fiscal year 2005, and $5,000,000,000 for fiscal year 
2006.
    (b) Availability.--Funds appropriated under subsection (a)--
            (1) are authorized to remain available until expended, 
        subject to appropriations acts; and
            (2) are in addition to funds otherwise available for such 
        purposes.
    (c) Allocation of Funds.--
            (1) In general.--The Corporation may allocate or transfer 
        to any agency of the United States Government any of the funds 
        available for carrying out this Act. Such funds shall be 
        available for obligation and expenditure for the purposes for 
        which authorized, in accordance with authority granted in this 
        Act or under authority governing the activities of the agencies 
        of the United States Government to which such funds are 
        allocated or transferred.
            (2) Notification.--The notification requirements of section 
        634A(a) of the Foreign Assistance Act of 1961 (22 U.S.C. 2394-
        1(a)) shall apply to any allocation or transfer of funds made 
        pursuant to paragraph (1).
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