Federal Prison Industries Reform Act of 1988

Summary

Federal Prison Industries Reform Act of 1988 - Amends the Federal criminal code to authorize the Federal Prison Industries, Incorporated (Corporation) to issue its obligations to the Secretary of the Treasury. Allows the Secretary to: (1) sell such obligations as public debt transactions; and (2) upon the request of the Corporation, invest excess monies from the Prison Industries Fund. Permits Corporation funds to be used to acquire industrial buildings and equipment for corporate operations. Prohibits the use of corporate funds for the construction or acquisition of penal or correctional institutions or camps. Requires the board of directors of the Corporation to include in its annual report to the Congress: (1) a statement of the amount of obligations issued during the fiscal year; and (2) an estimate of the amount of obligations that will be issued in the following fiscal year.

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1 official file

• Introduced in House

  summary · EN · 25 February 1988

  Open at official source

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