---
kind: "section"
citation: "22 U.S.C. § 7703"
title: "22"
title_heading: "Foreign Relations and Intercourse"
number: "7703"
heading: "Establishment and management of the Millennium Challenge Corporation"
release: "119-102"
date: "2026-07-12"
url: "https://uscodex.org/usc/22/7703"
units:
  - "Chapter 84 — Millennium Challenge"
---

# §7703. Establishment and management of the Millennium Challenge Corporation

- (a) **Establishment—** There is established in the executive branch a [corporation](/usc/22/7702.md?p=6) to be known as the “Millennium Challenge [Corporation](/usc/22/7702.md?p=6)” that shall be responsible for carrying out this chapter. The [Corporation](/usc/22/7702.md?p=6) shall be a government [corporation](/usc/22/7702.md?p=6), as defined in [section 103 of title 5](/usc/5/103.md).
- (b) **Chief Executive Officer—**
  - (1) **In general—** There shall be in the [Corporation](/usc/22/7702.md?p=6) a [Chief Executive Officer](/usc/22/7702.md?p=4) who shall be responsible for the management of the [Corporation](/usc/22/7702.md?p=6).
  - (2) **Appointment—**
    - (A) **In general—** Except as provided in [subparagraph (B)](#b-2-B), the [Chief Executive Officer](/usc/22/7702.md?p=4) shall be appointed by the President, by and with the advice and consent of the Senate.
    - (B) **Interim CEO—** The members of the [Board](/usc/22/7702.md?p=2) of Directors described in [subsection (c)(3)(A)](#c-3-A) may designate by unanimous consent in writing an individual who is an officer within any Federal department or agency (and who has been appointed to such position by the President, by and with the advice and consent of the Senate) to carry out the duties described in this subsection until the [Chief Executive Officer](/usc/22/7702.md?p=4) is appointed pursuant to [subparagraph (A)](#b-2-A).
  - (3) **Relationship to Board—** The [Chief Executive Officer](/usc/22/7702.md?p=4) shall report to and be under the direct authority of the [Board](/usc/22/7702.md?p=2).
  - (4) **Compensation and rank—**
    - (A) **In general—** The [Chief Executive Officer](/usc/22/7702.md?p=4) shall be compensated at the rate provided for level II of the Executive Schedule under [section 5313 of title 5](/usc/5/5313.md) and shall have the equivalent rank of Deputy [Secretary](/usc/22/277d–43.md?p=5).
    - (B) **Omitted—**
  - (5) **Authorities and duties—** The [Chief Executive Officer](/usc/22/7702.md?p=4) shall be responsible for the management of the [Corporation](/usc/22/7702.md?p=6) and shall exercise the powers and discharge the duties of the [Corporation](/usc/22/7702.md?p=6).
  - (6) **Authority to appoint officers—** In consultation and with approval of the [Board](/usc/22/7702.md?p=2), the [Chief Executive Officer](/usc/22/7702.md?p=4) shall appoint all officers of the [Corporation](/usc/22/7702.md?p=6).
- (c) **Board of Directors—**
  - (1) **Establishment—** There shall be in the [Corporation](/usc/22/7702.md?p=6) a [Board](/usc/22/7702.md?p=2) of Directors.
  - (2) **Duties—** The [Board](/usc/22/7702.md?p=2) shall perform the functions specified to be carried out by the [Board](/usc/22/7702.md?p=2) in this chapter and may prescribe, amend, and repeal bylaws, rules, regulations, and procedures governing the manner in which the business of the [Corporation](/usc/22/7702.md?p=6) may be conducted and in which the powers granted to it by law may be exercised.
  - (3) **Membership—** The [Board](/usc/22/7702.md?p=2) shall consist of—
    - (A) the Secretary of State, the [Secretary](/usc/22/277d–43.md?p=5) of the Treasury, the [Administrator](/usc/22/277d–43.md?p=1) of the United States Agency for International Development, the [Chief Executive Officer](/usc/22/7702.md?p=4) of the [Corporation](/usc/22/7702.md?p=6), and the United States Trade Representative; and
    - (B) four other individuals with relevant international experience who shall be appointed by the President, by and with the advice and consent of the Senate, of which—
      - (i) one individual should be appointed from among a list of individuals submitted by the majority leader of the House of Representatives;
      - (ii) one individual should be appointed from among a list of individuals submitted by the minority leader of the House of Representatives;
      - (iii) one individual should be appointed from among a list of individuals submitted by the majority leader of the Senate; and
      - (iv) one individual should be appointed from among a list of individuals submitted by the minority leader of the Senate.
  - (4) **Terms—**
    - (A) **Officers of the Federal Government—** Each member of the [Board](/usc/22/7702.md?p=2) described in [paragraph (3)(A)](#c-3-A) shall serve for a term that is concurrent with the term of service of the individual’s position as an officer within the other Federal department or agency.
    - (B) **Other members—** Each member of the [Board](/usc/22/7702.md?p=2) described in [paragraph (3)(B)](#c-3-B)—
      - (i) shall be appointed for a term of 3 years;
      - (ii) may be reappointed for a term of an additional 2 years; and
      - (iii) may continue to serve in each such appointment until the earlier of—
        - (I) the date on which his or her successor is appointed; or
        - (II) the date that is 1 year after the expiration of his or her appointment or reappointment, as the case may be.
    - (C) **Vacancies—** A vacancy in the [Board](/usc/22/7702.md?p=2) shall be filled in the manner in which the original appointment was made.
  - (5) **Chairperson—** There shall be a Chairperson of the [Board](/usc/22/7702.md?p=2). The Secretary of State shall serve as the Chairperson.
  - (6) **Quorum—** A majority of the members of the [Board](/usc/22/7702.md?p=2) shall constitute a quorum, which, except with respect to a meeting of the [Board](/usc/22/7702.md?p=2) during the 135-day period beginning on January 23, 2004, shall include at least one member of the [Board](/usc/22/7702.md?p=2) described in [paragraph (3)(B)](#c-3-B).
  - (7) **Meetings—** The [Board](/usc/22/7702.md?p=2) shall meet at the call of the Chairperson.
  - (8) **Compensation—**
    - (A) **Officers of the Federal Government—**
      - (i) **In general—** A member of the [Board](/usc/22/7702.md?p=2) described in [paragraph (3)(A)](#c-3-A) may not receive additional pay, allowances, or benefits by reason of the member’s service on the [Board](/usc/22/7702.md?p=2).
      - (ii) **Travel expenses—** Each such member of the [Board](/usc/22/7702.md?p=2) shall receive travel expenses, including per diem in lieu of subsistence, in accordance with applicable provisions under subchapter I of chapter 57 of title 5.
    - (B) **Other members—**
      - (i) **In general—** Except as provided in [clause (ii)](#c-8-B-ii), a member of the [Board](/usc/22/7702.md?p=2) described in [paragraph (3)(B)](#c-3-B)—
        - (I) shall be paid compensation out of funds made available for the purposes of this chapter at the daily equivalent of the highest rate payable under [section 5332 of title 5](/usc/5/5332.md) for each day (including travel time) during which the member is engaged in the actual performance of duties as a member of the [Board](/usc/22/7702.md?p=2); and
        - (II) while away from the member’s home or regular place of business on necessary travel in the actual performance of duties as a member of the [Board](/usc/22/7702.md?p=2), shall be paid per diem, travel, and transportation expenses in the same manner as is provided under subchapter I of chapter 57 of title 5.
      - (ii) **Limitation—** A member of the [Board](/usc/22/7702.md?p=2) may not be paid compensation under [clause (i)(II)](#c-8-B-i-II) for more than 90 days in any calendar year.

## Source credit

(Pub. L. 108–199, div. D, title VI, § 604, Jan. 23, 2004, 118 Stat. 212; Pub. L. 115–167, title II, § 202, Apr. 23, 2018, 132 Stat. 1279.)

## Notes

### Editorial Notes

### References in Text

This chapter, referred to in subsecs. (a) and (c)(2), (8)(B)(i)(I), was in the original “this title”, meaning title VI of Pub. L. 108–199, div. D, Jan. 23, 2004, 118 Stat. 211, which is classified generally to this chapter. For complete classification of this title to the Code, see Short Title note set out under section 7701 of this title and Tables.

### Codification

Section is comprised of section 604 of div. D of Pub. L. 108–199. Subsec. (b)(4)(B) of section 604 of div. D of Pub. L. 108–199 amended section 5313 of Title 5, Government Organization and Employees.

### Amendments

2018—Subsec. (c)(4)(B). Pub. L. 115–167 amended subpar. (B) generally. Prior to amendment, text read as follows: “Each member of the Board described in paragraph (3)(B) shall be appointed for a term of 3 years and may be reappointed for a term of an additional 2 years.”