Arid Lands Renewable Agricultural Resources Corporation Act of 1981

Summary

Arid Lands Renewable Resources Corporation Act of 1981 - Title I: General Provisions - Declares the purpose of this Act to be to encourage private investment in developing domestic oil and rubber producing plants. Title II: Establishment of Corporation - Creates the Arid Lands Renewable Resources Corporation. Vests the Corporation's powers in a Board of Directors. Provides for the appointment of an Inspector General and an Advisory Committee to the Board of Directors. Title III: Production Goal of the Corporation - Requires the Board to develop and submit a comprehensive strategy plan to the Congress within one year of enactment of this Act. Directs the Corporation to periodically solicit arid lands resources proposals. Sets forth Congressional oversight provisions. Title IV: Financial Assistance - Authorizes the Corporation to provide financial assistance through price guarantees, loans, and joint ventures. Title V: Corporation Construction Projects - Authorizes the Corporation to own arid lands resources projects, including construction projects. Title VI: Capitalization and Finance - Authorizes the Corporation to issue obligations solely to the United States. Grants it tax free status. Title VII: Unlawful Acts, Penalties, and Suits Against the Corporation - Sets forth penalty and related provisions. Title VIII: General Provisions - Requires the Corporation to: (1) submit quarterly and annual reports to the President and the Congress; and (2) conduct a study of supplemental financial protection for lenders. Authorizes Western Hemisphere projects. Title IX: Disposal of Assets - Authorizes the Corporation to dispose of assets. Title X: Termination of Corporation - Sets forth termination provisions. Title XI: Department of the Treasury - Authorizes unspecified appropriations.

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1 official file

• Introduced in House

  summary · EN · 21 July 1981

  Open at official source

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