Millennium Challenge Corporation Candidate Country Reform Act

Summary

Millennium Challenge Corporation Candidate Country Reform Act This bill modifies the per capita income requirements for countries to be considered candidates for assistance from the Millennium Challenge Corporation (MCC). The MCC program provides assistance to eligible developing countries through a competitive selection process based on various factors, including a country's per capita income, level of economic freedom, and effectiveness of government. Currently, to be a candidate to receive MCC assistance, the country must have a per capita income not greater than the lower-middle-income country threshold established by the International Bank for Reconstruction and Development (IBRD). Under the bill, a candidate country must instead have a per capita income equal to or less than the World Bank's threshold for initiating the IRDB graduation process . (This graduation process begins when IRDB determines that a country is able to sustain long-term development without further IRDB financing. For 2024, the threshold for initiating discussions about a country's graduation begins when a country exceeds $7,805 in per capita income.)

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Timeline

1. 2 May 2023

   Introduced

   Referred to the House Committee on Foreign Affairs.

   Source: IntroReferral

2. 2 May 2023

   Introduced

   Introduced in House

   Source: IntroReferral

3. 2 May 2023

   Introduced

   Introduced in House

   Source: IntroReferral

4. 10 July 2024

   Committee

   Committee Consideration and Mark-up Session Held

   Source: Committee

5. 11 July 2024

   Reported

   Ordered to be Reported in the Nature of a Substitute (Amended) by Voice Vote.

   Source: Committee

6. 11 July 2024

   Committee

   Committee Consideration and Mark-up Session Held

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in House · 2 May 2023 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 2 May 2023

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 2 May 2023

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 2 May 2023

  Open at official source

Sponsors

• Rep. Castro, Joaquin [D-TX-20] · D · Sponsor
• Young Kim · R · Sponsor
• Rep. Meeks, Gregory W. [D-NY-5] · D · Sponsor
• Rep. Salazar, Maria Elvira [R-FL-27] · R · Cosponsor
• Colin Allred · D · Cosponsor
• Rep. Sewell, Terri A. [D-AL-7] · D · Cosponsor
• Rep. Moore, Gwen [D-WI-4] · D · Cosponsor
• Rep. Smith, Adam [D-WA-9] · D · Cosponsor
• Rep. Bera, Ami [D-CA-6] · D · Cosponsor
• Rep. Lawler, Michael [R-NY-17] · R · Cosponsor
• Sheila Cherfilus-McCormick · D · Cosponsor
• Aumua Amata Radewagen · R · Cosponsor
• Rep. Wilson, Joe [R-SC-2] · R · Cosponsor
• Rep. Kamlager-Dove, Sydney [D-CA-37] · D · Cosponsor
• Sen. Kim, Andy [D-NJ] · D · Cosponsor
• Rep. Titus, Dina [D-NV-1] · D · Cosponsor
• Rep. Keating, William R. [D-MA-9] · D · Cosponsor
• Rep. Kean, Thomas H. [R-NJ-7] · R · Cosponsor
• Rep. Houlahan, Chrissy [D-PA-6] · D · Cosponsor
• · hsfa00 · Standing

Related records

• related to → Millennium Challenge Corporation Candidate Country Reform Act
• related to ← Servicemember Quality of Life Improvement and National Defense Authorization Act for Fiscal Year 2025