[Federal Register Volume 72, Number 166 (Tuesday, August 28, 2007)]
[Rules and Regulations]
[Pages 49192-49193]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E7-16142]


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MILLENNIUM CHALLENGE CORPORATION

22 CFR Part 1300


Organization and Functions of the Millennium Challenge 
Corporation

AGENCY: Millennium Challenge Corporation.

ACTION: Interim final rule.

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SUMMARY: This document establishes a new chapter in the Code of Federal 
Regulations for the Millennium Challenge Corporation and provides 
information on the Millennium Challenge Corporation's organization, 
functions and operations.

DATES: Effective August 28, 2007.

FOR FURTHER INFORMATION CONTACT: John C. Mantini, Assistant General 
Counsel for Administration.

ADDRESSES: Office of the General Counsel, Millennium Challenge 
Corporation, 875 Fifteenth Street, NW., Washington, DC 20005-2221.

SUPPLEMENTARY INFORMATION: The Millennium Challenge Corporation 
establishes a new Chapter XIII in Title 22 of the Code of Federal 
Regulations to read ``Chapter XIII--Millennium Challenge Corporation''.
    This interim final rule informs the public about the structure, 
function, operations, and quorum requirements of the Millennium 
Challenge Corporation.

Regulatory Impact

1. Administrative Procedures Act

    In promulgating this rule, the Millennium Challenge Corporation 
finds that notice and public comment are not necessary. Section 
553(b)(3)(A) of Title 5, United States Code, provides that when 
regulations involve matters of agency organization, procedure, or 
practice, the agency may publish regulations in final form. In 
addition, the Millennium Challenge Corporation finds, in accordance 
with 5 U.S.C. 553(d), that a delayed effective date is unnecessary. 
Accordingly, these regulations are effective upon publication.

2. Paperwork Reduction Act

    This interim final rule does not contain any information collection 
requirements that require the approval of the Office of Management and 
Budget under the Paperwork Reduction Act (44 U.S.C. 3501 et seq.)

3. Unfunded Mandates Reform Act of 1995

    This interim final rule does not require the preparation of an 
assessment statement in accordance with the Unfunded Mandates Reform 
Act of 1995, 2 U.S.C. 1531. This rule does not include a Federal 
mandate that may result in the expenditure by State, local, and tribal 
governments, in the aggregate, or by the private sector, of $100 
million or more (adjusted annually for inflation) in any one year.

List of Subjects in 22 CFR Part 1300

    Organization and functions (Government agencies).

0
For the reasons stated in the preamble, the Millennium Challenge 
Corporation establishes a new Chapter XIII, consisting of part 1300, in 
title 22 to read as follows:

CHAPTER XIII--MILLENNIUM CHALLENGE CORPORATION

PART 1300--ORGANIZATION AND FUNCTIONS OF THE MILLENNIUM CHALLENGE 
CORPORATION

Sec.
1300.1 Purpose.
1300.2 Organization.
1300.3 Functions.
1300.4 Operations.
1300.5 Quorum and voting requirements.
1300.6 Office location.

    Authority: 5 U.S.C. 552, as amended.


Sec.  1300.1  Purpose.

    This part describes the organization, functions and operation of 
the Millennium Challenge Corporation (MCC). MCC is a government 
corporation (as defined in 5 U.S.C. 103) established by the Millennium 
Challenge Act of 2003 (Pub. L. 108-199, 118 Stat. 211.) Information 
about MCC is available from its Web site, http://www.mcc.gov.


Sec.  1300.2  Organization.

    (a) MCC's Board consists of: (1) The Secretary of State, the 
Secretary of the Treasury, the Administrator of the United States 
Agency for International Development, the United States Trade 
Representative; and the Chief Executive Officer of the Corporation; and 
(2) four other individuals with relevant international experience from 
the private sector; appointed by the President with the advice and 
consent of the Senate.
    (b) MCC's staff is comprised of the following administrative units:
    (1) The Office of the Chief Executive Officer;
    (2) The Department of Accountability;
    (3) The Department of Administration and Finance;
    (4) The Department of Congressional and Public Affairs;
    (5) The Department of Operations;
    (6) The Department of Policy and International Relations; and
    (7) The Office of the General Counsel.


Sec.  1300.3  Functions.

    (a) MCC provides United States assistance for global development; 
and
    (b) Provides 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.  1300.4  Operations.

    In exercising its functions, duties, and responsibilities, MCC 
utilizes:
    (a) MCC staff, consisting of specialized offices performing

[[Page 49193]]

specialized, administrative, legal and financial work for the Board.
    (b) Rules published in the Federal Register and codified in this 
title of the Code of Federal Regulations.
    (c) Meetings of the Board of Directors conducted pursuant to the 
Government in the Sunshine Act or voting by notation as provided in 
section 1300.5(b).


Sec.  1300.5  Quorum and voting requirements.

    (a) Quorum requirements. A majority of the members of the Board 
shall constitute a quorum, which shall include at least one private 
sector member of the Board.
    (b) Voting. The Board votes on items of business in meetings 
conducted pursuant to the Government in the Sunshine Act.


Sec.  1300.6  Office location.

    The principal offices of the Millennium Challenge Corporation are 
located at 875 Fifteenth Street, NW., Washington, DC 20005-2221.

    Dated: August 10, 2007.
William G. Anderson, Jr.,
Vice President and General Counsel, Millennium Challenge Corporation.
 [FR Doc. E7-16142 Filed 8-27-07; 8:45 am]
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