millennium challenge corporation

millennium challenge corporationSec. 7057. (a) The Chief Executive Officer of the Millennium Challenge Corporation shall, not later than 45 days after enactment of this Act, submit to the Committee on Appropriations a report on the proposed uses, on a country-by-country basis, of all funds appropriated under the heading “Millennium Challenge Corporation” in this Act or prior Acts making appropriations for the Department of State, foreign operations, and related programs projected to be obligated and expended in fiscal year 2009 and subsequent fiscal years.(b) The report required in paragraph (a) shall be updated on a semi-annual basis and shall include, at a minimum, a description of—(1) compacts in development, including the status of negotiations and the approximate range of value of the proposed compact;(2) compacts in implementation, including the projected expenditure and disbursement of compact funds during fiscal year 2009 and subsequent fiscal years as determined by the country compact;(3) threshold country programs in development, including the approximate range of value of the threshold country agreement;(4) major programmatic changes to existing compacts funded by this Act or prior Acts making appropriations for the Department of State, foreign operations, and related programs;(5) threshold country programs in implementation; and(6) use of administrative funds.(c) The Chief Executive Officer of the Millennium Challenge Corporation shall notify the Committees on Appropriations not later than 15 days prior to signing any new country compact or new threshold country program; terminating or suspending any country compact or threshold country program; or commencing negotiations for any new compact or threshold country program.123 STAT. 896