H.R. 1029 — To abolish the United States Agency for International Development.

This section terminates funding for the United States Agency for International Development (USAID) by prohibiting, beginning on the date of enactment, the use of any Federal funds to carry out functions, duties, or responsibilities assigned to the USAID Administrator under the Foreign Assistance Act of 1961 (22 U.S.C. 2151 et seq.) or any other law. It also rescinds the unobligated balance of each amount available to the USAID Administrator as of the day before enactment and transfers any remaining USAID assets and liabilities as of that day to the Secretary of State. (Thus, USAID would cease to operate as an independent foreign assistance agency, and its remaining resources and obligations would be absorbed by the Department of State.)