Industrial Competitiveness Act

Summary

Industrial Competitiveness Act - Title I: Council on Industrial Competitiveness - Establishes in the executive branch an independent agency to be known as the Council on Industrial Competitiveness. Sets forth the duties of the Council including the duty to: (1) collect and analyze information concerning current and future economic trends and market opportunities; (2) create forums where national leaders will identify national economic problems; (3) provide policy recommendations regarding specific issues concerning industrial strategies; and (4) evaluate existing government policies and business practices in terms of their competitive impact. Sets forth the membership and powers of the Council. Requires the Council to report to Congress and the President, within one year of enactment of this title, recommendations for changes in Federal policy necessary to implement effective industrial strategies. Requires the Council to report annually to the President, Congress, and the Bank for Industrial Competitiveness on the major industrial development priorities of the United States and the policies needed to meet such priorities. Authorizes appropriations. Title II: Bank for Industrial Competitiveness - Subtitle A: Bank for Industrial Competitiveness - Establishes the Bank for Industrial Competititveness which shall be an agency of the United States. Sets forth the powers of the Bank and the qualifications for members of the board of directors. Authorizes the Bank to provide financial assistance to: (1) businesses in mature or linkage industries which require revitalization and modernization in order to be competitive in a world market; and (2) businesses in emerging industries which require financial assistance to develop and market new products or technologies. Limits the amount of aid for each project to 30 percent of the funding necessary to carry out the project. Sets forth the requirements for applications for such assistance. Sets forth the terms and conditions for financial assistance from the Bank. Terminates the authority of the Bank to make loans, issue loan guarantees, and purchase capital stock of applicants ten years after the effective date of this title. Sets forth the amount of capital stock the Bank shall have. Authorizes the Bank to issue obligations to provide sufficient funds to carry out the Bank's purposes and to renew, refund or pay other obligations. Limits the amount of the Bank's outstanding obligations to five times the paid-in capital of the Bank. Prohibits any of the loans made, guaranteed, or committed to be guaranteed under this title from being eligible for purchase by, or commitment to purchase by, or sale or issuance to, any Federal agency or government-owned entity. Exempts obligations of the Bank from taxation. Authorizes the Bank to enter into appropriate agreements respecting obligations of the Bank. Sets forth provisions dealing with moneys of the Bank. Exempts from taxation all property of the Bank except for the Bank's real property. Authorizes the Bank to inspect all documents of an applicant relating to the applicant's financial affairs and to all facilities and properties of the applicant. Requires the Bank to submit an annual report to the President and Congress. Terminates the Bank 30 years after the effective date of this title. Subtitle B: Secondary Markets for Industrial Mortgages - Authorizes the Bank to purchase and to make commitments to purchase industrial mortgages from any qualified financial institution. Authorizes the Bank to set priorities regarding the types of industrial mortgages to be purchased. Sets forth conditions which such mortgages must meet. Prohibits an industrial mortgage from being purchased unless specified conditions are met. Authorizes the Bank to set aside mortgages held by it and to issue and sell securities based upon the set aside mortgages. Subtitle C: Investment in Public Industrial Development Banks - Authorizes the Bank to invest in the stock of public industrial development finance institutions established at the State, local, or regional levels. Requires that the Bank be given, in return for its investment, one or more seats on the Board of Directors of the public development bank in which it invests. Prohibits the Bank from contracting with institutions that offer no reasonable prospect of return. Sets forth conditions for participation by the Bank in public industrial development banks. Subtitle D: General Provisions - Authorizes appropriations beginning in FY 1985.

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Timeline

1. 10 November 1983

   Introduced

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

   Source: IntroReferral

2. 10 November 1983

   Introduced

   Introduced in House

   Source: IntroReferral

3. 10 November 1983

   Introduced

   Introduced in House

   Source: IntroReferral

4. 15 November 1983

   Referred

   Referred to Subcommittee on Economic Stabilization.

   Source: Committee

5. 16 November 1983

   Committee

   Subcommittee Hearings Held.

   Source: Committee

6. 26 January 1984

   Committee

   Subcommittee Hearings Held.

   Source: Committee

7. 31 January 1984

   Committee

   Subcommittee Hearings Held.

   Source: Committee

8. 1 February 1984

   Committee

   Subcommittee Hearings Held.

   Source: Committee

9. 2 February 1984

   Committee

   Subcommittee Hearings Held.

   Source: Committee

10. 8 February 1984

    Committee

    Forwarded by Subcommittee to Full Committee (Amended).

    Source: Committee

11. 8 February 1984

    Committee

    Subcommittee Consideration and Mark-up Session Held.

    Source: Committee

12. 20 March 1984

    Committee

    Subcommittee Hearings Held.

    Source: Committee

13. 10 April 1984

    Reported

    Ordered to be Reported (Amended).

    Source: Committee

14. 10 April 1984

    Committee

    Committee Consideration and Mark-up Session Held.

    Source: Committee

15. 24 April 1984

    Introduced

    Referred to House Committee on Energy and Commerce Sequentially, for a Period Ending not Later than Jun 8, 84.

    Source: IntroReferral

16. 24 April 1984

    Reported

    Reported to House (Amended) by House Committee on Banking, Finance and Urban Affairs. Report No: 98-697 (Part I).

    Source: Committee

17. 24 April 1984

    Reported

    Reported to House (Amended) by House Committee on Banking, Finance and Urban Affairs. Report No: 98-697 (Part I).

    Source: Committee

18. 2 May 1984

    Referred

    Referred to Subcommittee on Commerce, Transportation and Tourism.

    Source: Committee

19. 17 May 1984

    Committee

    Forwarded by Subcommittee to Full Committee.

    Source: Committee

20. 17 May 1984

    Committee

    Subcommittee Consideration and Mark-up Session Held.

    Source: Committee

21. 17 May 1984

    Committee

    Subcommittee Hearings Held.

    Source: Committee

22. 24 May 1984

    Reported

    Ordered to be Reported.

    Source: Committee

23. 24 May 1984

    Committee

    Committee Consideration and Mark-up Session Held.

    Source: Committee

24. 6 June 1984

    Calendars

    Placed on Union Calendar No: 478.

    Source: Calendars

25. 6 June 1984

    Reported

    Reported to House by House Committee on Energy and Commerce. Report No: 98-697 (Part II).

    Source: Committee

26. 6 June 1984

    Reported

    Reported to House by House Committee on Energy and Commerce. Report No: 98-697 (Part II).

    Source: Committee

Votes

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Versions

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Documents

2 official files

• Reported to House amended, Part I

  summary · EN · 24 April 1984

  Open at official source

• Introduced in House

  summary · EN · 10 November 1983

  Open at official source

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Sponsors

• Rep. LaFalce, John J. [D-NY-29] · D · Sponsor
• Rep. St Germain, Fernand J. [D-RI-1] · D · Sponsor
• Rep. Lundine, Stanley N. [D-NY-34] · D · Sponsor
• Rep. Vento, Bruce F. [D-MN-4] · D · Sponsor
• Rep. Oakar, Mary Rose [D-OH-20] · D · Sponsor
• Rep. Minish, Joseph G. [D-NJ-11] · D · Sponsor
• Del. Fauntroy, Walter E. [D-DC-At Large] · D · Sponsor
• Rep. Coyne, William J. [D-PA-14] · D · Sponsor
• Rep. Cooper, Jim [D-TN-5] · D · Sponsor
• Rep. Kaptur, Marcy [D-OH-9] · D · Sponsor
• Rep. Levin, Sander M. [D-MI-12] · D · Sponsor
• Rep. Torres, Esteban Edward [D-CA-34] · D · Sponsor
• Rep. Annunzio, Frank [D-IL-11] · D · Sponsor
• Rep. Bonior, David E. [D-MI-10] · D · Sponsor
• Rep. Guarini, Frank J. [D-NJ-14] · D · Sponsor
• Rep. Pepper, Claude [D-FL-18] · D · Sponsor
• Rep. Ottinger, Richard L. [D-NY-20] · D · Cosponsor
• Rep. Foglietta, Thomas M. [D-PA-1] · D · Cosponsor
• Rep. Frank, Barney [D-MA-4] · D · Cosponsor
• Rep. Nowak, Henry [D-NY-33] · D · Cosponsor
• Rep. Roe, Robert A. [D-NJ-8] · D · Cosponsor
• Rep. Murtha, John P. [D-PA-12] · D · Cosponsor
• Rep. Stokes, Louis [D-OH-11] · D · Cosponsor
• Rep. Kildee, Dale E. [D-MI-5] · D · Cosponsor
• Rep. Lowery, Bill [R-CA-41] · R · Cosponsor
• Rep. Brown, George E., Jr. [D-CA-42] · D · Cosponsor
• Rep. McHugh, Matthew F. [D-NY-28] · D · Cosponsor
• Rep. Crockett, George W., Jr. [D-MI-13] · D · Cosponsor
• Rep. Hertel, Dennis M. [D-MI-14] · D · Cosponsor
• Rep. Ford, William D. [D-MI-13] · D · Cosponsor
• Rep. Hawkins, Augustus F. [D-CA-29] · D · Cosponsor
• Rep. Edgar, Robert W. [D-PA-7] · D · Cosponsor
• Rep. Lowry, Mike [D-WA-7] · D · Cosponsor
• Rep. Stratton, Samuel S. [D-NY-23] · D · Cosponsor
• Rep. Pease, Donald J. [D-OH-13] · D · Cosponsor
• Rep. Mitchell, Parren J. [D-MD-7] · D · Cosponsor
• Rep. Seiberling, John F. [D-OH-14] · D · Cosponsor
• Rep. Kolter, Joseph P. [D-PA-4] · D · Cosponsor
• Rep. Murphy, Austin J. [D-PA-20] · D · Cosponsor
• Rep. Boggs, Corinne C. (Lindy) [D-LA-2] · D · Cosponsor
• Rep. Gephardt, Richard A. [D-MO-3] · D · Cosponsor
• Rep. Oberstar, James L. [D-MN-8] · D · Cosponsor
• Sen. Markey, Edward J. [D-MA] · D · Cosponsor
• Rep. Rodino, Peter W., Jr. [D-NJ-10] · D · Cosponsor
• Rep. Bates, Jim [D-CA-44] · D · Cosponsor
• Rep. Dellums, Ronald V. [D-CA-9] · D · Cosponsor
• Sen. Daschle, Thomas A. [D-SD] · D · Cosponsor
• Rep. Ferraro, Geraldine A. [D-NY-9] · D · Cosponsor

Showing 48 of 136 sponsors and actors.

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