MILLENNIUM CHALLENGE CORPORATION

MILLENNIUM CHALLENGE CORPORATIONSec. 699I. (a) Section 607(b) of the Millennium Challenge Act of 2003 (22 U.S.C. 7706) is amended—(1) in paragraph (2)(B) by striking “and the sustainable management of natural resources”; and(2) in paragraph (3)—(A) in subparagraph (A), by striking “and”;(B) in subparagraph (B), by striking the period and inserting “; and”; and(C) by adding the following subparagraph:“(C) promote the protection of biodiversity and the transparent and sustainable management and use of natural resources.”.(b)(1) The Chief Executive Officer of the Millennium Challenge Corporation shall, not later than 30 days following enactment of this Act, submit to the Committees 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 foreign operations, export financing, and related programs projected to 121 STAT. 2373 be obligated and expended in fiscal year 2008 and subsequent fiscal years.(2) The report required in paragraph (1) shall include, at a minimum, a description of—(A) compacts in development, including the status of negotiations and the approximate range of value of the proposed compact;(B) compacts in implementation, including the projected expenditure and disbursement of compact funds during fiscal year 2008 and subsequent fiscal years as determined by the country compact;(C) threshold country programs in development, including the approximate range of value of the threshold country agreement;(D) threshold country programs in implementation;(E) use of administrative funds.(3) 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.(4) The report required in paragraph (1) shall be updated on a quarterly basis.