HB 4980 Kick OPIC Act of 2010

About HB-4980

Kick OPIC Act of 2010 - Prohibits the Overseas Private Investment Corporation (OPIC) from issuing insurance, guaranties, or reinsurance, making loan, acquiring securities, or entering into risk sharing arrangements under the Foreign Assistance Act of 1961, effective 60 days after enactment of this Act. Abolishes OPIC 180 days after enactment. Requires the Director of the Office of Management and Budget (OMB) to perform the functions of OPIC with respect to any outstanding contracts and agreements until their expiration and to take necessary steps to wind up the affairs of OPIC. Sets forth provisions regarding the termination of OPIC authorities, the transfer of funds, and the effect on prior determinations and pending proceedings.