Aligning Development and Competition Act of 2024

senate

house

president

Introduced on November 21, 2024 by Willard Mitt Romney

Legislation Details

The legislation aims to align the United States International Development Finance Corporation (USIDFC) with national security and strategic goals.
The Chief Executive Officer of USIDFC is required to submit an annual report detailing the Development Advisory Council’s activities, including potential conflicts of interest.
USIDFC is mandated to prioritize projects that advance U.S. national security interests, particularly in strategic competition with designated nations, focusing on critical infrastructure and resources.
The Secretary of Defense or a designee will be included on the USIDFC Board of Directors.
A new Strategic Advisory Council is established to advise the USIDFC Board on national security and foreign policy objectives, with members appointed based on recommendations from the Chief Executive Officer.
The Strategic Advisory Council will not be subject to the Federal Advisory Committee Act.
The Chief Executive Officer is granted the authority to waive certain project requirements if deemed necessary for vital national security interests by the President.

Last updated 12/20/2024

The legislation aims to align the United States International Development Finance Corporation (USIDFC) with national security and strategic goals.
The Chief Executive Officer of USIDFC is required to submit an annual report detailing the Development Advisory Council’s activities, including potential conflicts of interest.
USIDFC is mandated to prioritize projects that advance U.S. national security interests, particularly in strategic competition with designated nations, focusing on critical infrastructure and resources.
The Secretary of Defense or a designee will be included on the USIDFC Board of Directors.
A new Strategic Advisory Council is established to advise the USIDFC Board on national security and foreign policy objectives, with members appointed based on recommendations from the Chief Executive Officer.
The Strategic Advisory Council will not be subject to the Federal Advisory Committee Act.
The Chief Executive Officer is granted the authority to waive certain project requirements if deemed necessary for vital national security interests by the President.