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Code · BILL · 113th Congress · S. 1716 (Introduced in Senate) — To facilitate efficient investments and financing of infrastructure projects and new long-term job creation through t... · Sec. 103

Sec. 103. Chief executive officer of IFA

429 words·~2 min read·/bill/113/s/1716/is/section-103·

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The chief executive officer of IFA shall— be a nonvoting member of the Board of Directors; be responsible for all activities of IFA; and support the Board of Directors in accordance with this Act and as the Board of Directors determines to be necessary. The President shall appoint the chief executive officer, by and with the advice and consent of the Senate. The chief executive officer shall be appointed for a term of 6 years. Any vacancy in the office of the chief executive officer shall be filled by the President, by and with the advice and consent of the Senate.
The person appointed to fill a vacancy in the chief executive officer position that occurs before the expiration of the term for which the predecessor was appointed shall be appointed only for the remainder of that term. The chief executive officer— shall have significant expertise in management and administration of a financial institution, or significant expertise in the financing and development of infrastructure projects; and may not— hold any other public office; have any financial interest in an eligible infrastructure project then being considered by the Board of Directors, unless that interest is placed in a blind trust; or have any financial interest in an investment institution or its affiliates or any other entity seeking or likely to seek financial assistance for any eligible infrastructure project from IFA, unless any such interest is placed in a blind trust for the tenure of the service of the chief executive officer plus 2 additional years.
The chief executive officer shall have such executive functions, powers, and duties as may be prescribed by this Act, the bylaws of IFA, or the Board of Directors, including— responsibility for the development and implementation of the strategy of IFA, including— the development and submission to the Board of Directors of the annual business plans and budget; the development and submission to the Board of Directors of a long-term strategic plan; and the development, revision, and submission to the Board of Directors of internal policies; and responsibility for the management and oversight of the daily activities, decisions, operations, and personnel of IFA.
Any compensation assessment or recommendation by the chief executive officer under this section shall be without regard to the provisions of chapter 51 or subchapter III of chapter 53 of title 5, United States Code. The compensation assessment or recommendation required under this subsection shall take into account merit principles, where applicable, as well as the education, experience, level of responsibility, geographic differences, and retention and recruitment needs in determining compensation of personnel.
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