National Domestic Development Bank Act

Summary

National Domestic Development Bank Act - Establishes a National Domestic Development Bank to provide an alternative source of funds for community facilities and economic development. Outlines the special authority of the Bank to purchase obligations and make loans to finance construction, or reconstruction to energy efficient standards, of community facilities and public works. Provides for the establishment of a regional operating divisions of the Bank and for technical assistance in areas related to the Bank's activities. Provides for capitalization of the Bank and an audit report to Congress. Grants the Bank tax-exempt status, with specified limitations. Provides a partial tax exclusion for individuals for 50 percent of Bank dividends.

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Timeline

1. 15 February 1979

   Introduced

   Referred to House Committee on Banking, Finance and Urban Affairs.

   Source: IntroReferral

2. 15 February 1979

   Introduced

   Introduced in House

   Source: IntroReferral

3. 15 February 1979

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

• Introduced in House

  summary · EN · 15 February 1979

  Open at official source

Sponsors

• Rep. Vento, Bruce F. [D-MN-4] · D · Sponsor
• · hsba00 · Standing

Related records

• related to ← National Domestic Development Bank Act