,i #aaith ,,congress #b;d ,session ,h4 ,r4 #gfdd ,,in ,,the ,,house ,,of ,,representatives ,february #bc1 #bjbf,mr4 ,barr introduced the following bill2 which was referred to the ,committee on ,foreign ,affairs ,a ,,bill ,to amend the ,millennium ,challenge ,act of #bjjc to modify the authorities of the ,millennium ,challenge ,corporation relating to strategic competitors of the ,united ,states and critical minerals4 #a4 ,short title ,this ,act may be cited as the ,millennium ,challenge ,corporation ,strategic ,modernization ,act4 #b4 ,findings ,congress finds the following3 7#a7 ,the ,millennium ,challenge ,corporation is an independent ,united ,states ,government agency that delivers results-driven foreign assistance1 using a transparent1 data-driven model rooted in good governance1 economic freedom1 and investment in people to advance ,america's economic and strategic interests4 7#b7 ,strategic competitors of the ,united ,states1 including the ,people's ,republic of ,china1 the ,russian ,federation1 and the ,islamic ,republic of ,iran1 increasingly deploy state-directed finance1 infrastructure development1 and resource investments to gain long-term political and economic leverage in developing countries4 7#c7 ,the global supply of critical minerals is increasingly concentrated1 opaque1 and vulnerable to coercion by strategic competitors of the ,united ,states1 creating risks to ,united ,states national security1 energy security1 and advanced manufacturing4 7#d7 ,the ,millennium ,challenge ,corporation's tools1 including grant-based financing1 policy reform conditionality1 and high governance standards1 are well-suited to addressing constraints in critical mineral supply chains1 such as infrastructure gaps1 regulatory weaknesses1 and workforce development limitations4 7#e7 ,earlier and more systematic engagement by the ,millennium ,challenge ,corporation with the ,united ,states private sector can improve project design1 crowd in private capital1 and strengthen economic ties between partner countries and the ,united ,states4 7#f7 ,the modernization of the ,millennium ,challenge ,corporation should strengthen1 not dilute1 its core development mission and independence4 #c4 ,sense of ,congress ,it is the sense of ,congress that-- 7#a7 strategic competition considerations should inform but not replace the ,millennium ,challenge ,corporation's existing eligibility standards2 7#b7 reforms should increase transparency1 accountability1 and value to ,united ,states taxpayers2 and 7#c7 the ,millennium ,challenge ,corporation should be modernized as a strategic asset in an era of global competition4 #d4 ,purposes ,section #fjb of the ,millennium ,challenge ,act of #bjjc 7#bb ,u4,s4,c4 #ggja7 is amended-- 7#a7 in paragraph 7#a71 by striking and at the end2 7#b7 in paragraph 7#b71 by striking the period at the end and inserting 2 and2 and 7#c7 by adding at the end the following3 7#c7 to advance ,united ,states economic security and strategic competitiveness by supporting eligible country reforms and investments that strengthen critical mineral supply chains1 strategic infrastructure1 and market-based economic integration1 while also supporting poverty reduction and sustainable economic growth4 4 #e4 ,critical ,minerals ,task ,force ,section #fjd of the ,millennium ,challenge ,act of #bjjc 7#bb ,u4,s4,c4 #ggjc7 is amended by adding at the end the following3 7d7 ,critical ,minerals ,task ,force 7#a7 ,establishment ,the ,board of ,directors shall establish in the ,corporation a ,critical ,minerals ,task ,force 7in this subsection referred to as the ,task ,force74 7#b7 ,duties ,the ,task ,force shall-- 7,a7 assess global and regional critical mineral supply chain vulnerabilities to ,united ,states economic and national security2 7,b7 identify candidate countries in which ,corporation engagement could enhance transparent1 diversified1 and sustainable mineral supply chains2 7,c7 evaluate infrastructure1 regulatory1 environmental1 labor1 and governance constraints affecting mineral development and downstream processing2 7,d7 recommend priority policy reforms and investment areas appropriate for ,corporation assistance2 and 7,e7 coordinate1 as appropriate1 with relevant ,united ,states ,government agencies1 multilateral institutions1 and private sector stakeholders4 7#c7 ,rule of construction ,nothing in this subsection may be construed to authorize the ,corporation to engage in extractive activities or to subsidize mineral production4 4 #f4 ,great ,power ,competition ,factsheet ,section #fjg of the ,millennium ,challenge ,corporation ,act of #bjjc 7#bb ,u4,s4,c4 #ggjf7 is amended by adding at the end the following3 7g7 ,great ,power ,competition ,factsheet 7#a7 ,in general ,in determining eligible countries under this section1 the ,board shall assess strategic exposure and resilience of candidate countries to the ,people's ,republic of ,china1 the ,russian ,federation1 the ,islamic ,republic of ,iran1 and other strategic competitors of the ,united ,states using the factors described in paragraph 7#b74 ,the assessment carried out under this paragraph may be referred to as the ,great ,power ,competition ,factsheet 7in this subsection referred to as the ,,gpc ,factsheet74 7#b7 ,factors described ,the ,,gpc ,factsheet shall include1 where data are available-- 7,a7 trade volumes1 export dependencies1 and import reliance involving the ,people's ,republic of ,china1 the ,russian ,federation1 the ,islamic ,republic of ,iran1 and other strategic competitors of the ,united ,states2 7,b7 foreign direct investment1 sovereign lending1 and state-owned enterprise activity from such countries2 7,c7 foreign assistance1 concessional finance1 and debt exposure linked to such countries2 7,d7 ownership1 control1 financing1 or operation of strategic infrastructure1 including ports1 rail1 power generation1 transmission1 digital networks1 and data systems such countries2 7,e7 critical mineral endowments1 processing capacity1 export controls1 and governance frameworks2 and 7,f7 alignment with international transparency1 labor1 environmental1 and anti-corruption standards4 7#c7 ,limitation ,the ,,gpc ,factsheet shall inform ,board deliberations but shall not replace other eligibility criteria under other provisions of law4 4 #g4 ,millennium ,challenge ,compact ,section #fji of the ,millennium ,challenge ,act of #bjjc 7#bb ,u4,s4,c4 #ggjh7 is amended-- 7#a7 by amending subsection 7j7 to read as follows3 7j7 ,duration of ,compact 7#a7 ,in general ,the implementation of a ,compact shall not exceed #e years4 7#b7 ,other matters ,the ,corporation shall-- 7,a7 obligate the entire funding for a ,compact upon the execution of the ,compact2 and 7,b7 consult with the appropriate congressional committees at the commencement of the implementation period of a ,compact4 2 and 7#b7 by adding at the end the following3 7m7 ,early private sector engagement ,in developing a ,compact under this section or under other programs developed under section #faf1 the ,corporation shall1 to the extent practicable1 engage ,united ,states private sector entities1 investors1 and technical experts during the early stages of project identification and design4 ,such engagement shall seek to-- 7#a7 improve the feasibility and effectiveness of ,compact projects2 7#b7 mobilize private capital to supplement assistance provided under this title2 and 7#c7 enhance the long-term sustainability and impact of assistance provided under this title4 7n7 ,timely completion of constraint analysis and due diligence 7#a7 ,in general ,the ,corporation shall use best efforts to commence implementation of the program by ensuring that all required constraint analyses1 feasibility studies1 environmental assessments1 economic analyses1 and other forms of due diligence necessary for project commencement are conducted in an expeditious and efficient manner1 consistent with the ,corporation's policies4 7#b7 ,safeguards ,nothing in this subsection may be construed to authorize the circumvention of any requirements for a ,compact described in subsection 7b77#a74 7#c7 ,board oversight ,during the period beginning on which a ,compact or an agreement under section #faf is entered into and ending on the date on which the ,compact or agreement has commenced implementation1 the ,corporation shall periodically provide a written update to the ,board and consult with the appropriate congressional committees to describe-- 7,a7 the status of the program1 including the anticipated date of implementation the program will commence2 7,b7 issues that may negatively impact the anticipated date implementation will commence and steps taken to resolve such issues2 and 7,c7 any measures adopted with the intent to mitigate the issues identified in subparagraph 7,b7 for future ,compacts or agreements under section #faf4 4 #h4 ,congressional and public notification ,section #faj7;a7 of the ,millennium ,challenge ,corporation ,act of #bjjc 7#bb ,u4,s4,c4 #ggji7;a77 is amended-- 7#a7 by redesignating paragraph 7#d7 as paragraph 7#e72 and 7#b7 by inserting after paragraph 7#c7 the following3 7#d7 ,complementary framework 7,a7 ,in general ,in addition to a report describing the economic rate of return of the ,compact as required under paragraph 7#c77;,a71 the ,corporation shall develop and include in the report a complementary framework to assess benefits accruing to the ,united ,states under the ,compact4 7,b7 ,matters to be included ,such complementary framework may include-- 7i7 diversification and resilience of critical supply chains and inputs to ,united ,states productive activities2 7ii7 increased participation of ,united ,states companies and investors2 7iii7 actions to reduce recipient country exposure to strategic competitors2 7iv7 export of goods and services from the ,united ,states2 and 7v7 strengthened diplomatic and economic partnerships4 4