H.R. 7605: African Development Foundation Termination Act of 2026

This bill, titled the African Development Foundation Termination Act of 2026, aims to dissolve the United States African Development Foundation (USADF) within 120 days after it is enacted. The key points of this bill are as follows:

Abolishment of the Foundation

The bill officially abolishes the USADF, an organization that has been involved in providing financial and technical assistance for projects in African countries. The termination will take effect 120 days after the bill is enacted.

Wind-down and Transfer of Assets

• Conclusion Period: The President is instructed to carry out necessary actions to conclude the Foundation's affairs during the 120-day period after the law is enacted.
• Transfer of Remaining Funds and Property:
  • Any unspent money or funds associated with the Foundation will be moved to the general fund of the Department of the Treasury.
  • All assets, liabilities, contracts, property, and records of the Foundation will be transferred to the Department of State. This transfer is intended for the liquidation of existing assets and oversight of multi-year grants until they come to term.
• No New Awards: The Foundation will cease to issue new grants, loans, or project agreements as soon as the bill is enacted.

Repeal of the African Development Foundation Act

The bill repeals the foundational legislation that created the USADF, known as the African Development Foundation Act. Following this repeal, the Secretary of State must submit a report to Congress proposing any necessary changes to existing laws to reflect this repeal.

Personnel Provisions

The Foundation is required to inform its employees about the termination and provide appropriate notices regarding job reductions, following federal laws related to such layoffs.

Relevant Companies

• None found