[Federal Register Volume 85, Number 71 (Monday, April 13, 2020)]
[Rules and Regulations]
[Page 20423]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-07684]
[[Page 20423]]
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U.S. INTERNATIONAL DEVELOPMENT FINANCE CORPORATION
22 CFR Part 708
Sunshine Act Regulations
AGENCY: United States International Development Finance Corporation.
ACTION: Final rule.
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SUMMARY: Under the Better Utilization of Investments Leading to
Development (BUILD) Act of 2018, the U.S. International Development
Finance Corporation (DFC) adopted the regulations of its predecessor,
the Overseas Private Investment Corporation (OPIC). One of these
regulations implemented the Sunshine Act, which is not applicable to
DFC. Accordingly, to ensure DFC is implementing and complying with
applicable regulations, this final rule removes the agency's Sunshine
Act regulations.
DATES: This rule is effective on April 13, 2020.
FOR FURTHER INFORMATION CONTACT: Nichole Skoyles, Administrative
Counsel, 202-336-8400, [email protected].
SUPPLEMENTARY INFORMATION: The Better Utilization of Investments
Leading to Development (BUILD) Act of 2018, 22 U.S.C. 9601 et seq.,
created the U.S. International Development Finance Corporation (DFC) by
bringing together the Overseas Private Investment Corporation (OPIC)
and the Development Credit Authority (DCA) office of the U.S. Agency
for International Development (USAID). The BUILD Act specified that
completed administrative actions, including rules, would be transferred
from OPIC to DFC, see 22 U.S.C. 9686(a), and permitted OPIC employees
to act in furtherance of that transfer, see 22 U.S.C. 9682.
Accordingly, OPIC's rules, located in chapter 22 of the Code of Federal
Regulations, were transferred to DFC in a rulemaking published at 84 FR
37751 on August 2, 2019. Although OPIC's administrative actions
transferred to DFC, the two agencies have significant differences. To
facilitate the transition, DFC's Office of General Counsel (OGC) is
reviewing how these differences impact the agency. As part of this
review, OGC determined that the Sunshine Act, 5 U.S.C. 552b (``Sunshine
Act'' or ``Act''), is not applicable to DFC because DFC does not meet
the definition of ``agency'' under the Act. The Sunshine Act applies
only to agencies ``headed by a collegial body composed of two or more
individual members, a majority of whom are appointed to such position
by the President with the advice and consent of the Senate.'' 5 U.S.C.
552b(a)(1). Only four of the nine DFC board members are appointed by
the President with the advice and consent of the Senate solely for the
purpose of serving on DFC's Board. See 22 U.S.C. 9613(b)(2)(iii). The
remaining five board members hold their position by virtue of
appointment to a different office and therefore do not count toward the
majority required by the Sunshine Act's definition of ``agency.'' See
Whether the Millennium Challenge Corporation Should Be Considered an
``Agency'' for Purposes of the Open Meeting Requirements of the
Sunshine Act, 37 Op. O.L.C. (May 3, 2013). Accordingly, the Sunshine
Act is not applicable to DFC. The U.S. Department of Justice Office of
Legal Counsel (OLC) concurs with DFC in this determination, which is a
consistent interpretation held by OLC since at least 1976, and which
the D.C. Circuit adopted in Symons v. Chrysler Corp. Loan Guarantee
Board, 670 F.2d 238 (D.C. Cir. 1981). DFC's Board will continue to hold
at least two public hearings per year in accordance with 22 U.S.C.
9613(c) and provide public notification for certain projects in
accordance with 22 U.S.C. 9671(e)(2).
List of Subjects in 22 CFR Part 708
Sunshine Act.
PART 708--[REMOVED AND RESERVED]
0
Therefore, under the authority of 22 U.S.C. 9632, remove and reserve 22
CFR part 708, consisting of Sec. Sec. 708.1 through 708.6.
Kevin Turner,
Vice President and General Counsel, Office of the General Counsel,
United States International Development Finance Corporation.
[FR Doc. 2020-07684 Filed 4-10-20; 8:45 am]
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