This bill reforms how the Congressional Office for International Leadership operates by establishing a new organizational structure and clearer rules for its activities. The office's main job is to help Congress build relationships with emerging political and civic leaders from other countries through exchange programs and dialogue about U.S. foreign policy.

The bill creates a 12-member Board of Trustees that oversees the office, made up of members from both the House and Senate (split between majority and minority parties), plus four private citizens appointed by the office's Executive Director. An Executive Director, appointed by House and Senate leadership based on Board recommendations, runs the day-to-day operations. The bill emphasizes that everyone involved must work without partisan bias.

The office will award grants to American organizations that host foreign leaders for visits of up to 30 days per year, with a limit of 3,500 participants annually. Grant money can cover travel, lodging, and administrative costs. The bill requires detailed financial reporting, including annual audited financial statements reviewed by independent auditors and the Government Accountability Office. It also establishes a trust fund to hold appropriations and donations, and requires the Library of Congress to provide office space and administrative support.