Energy Research and Development Savings Bond and Trust Fund Act of 1979

Summary

Energy Research and Development Savings Bond and Trust Fund Act of 1979 - Establishes as a goal the reduction of imported energy sources by one-half of the current total imports by the year 1990. Seeks to provide at least $50,000,000,000 for the financing of energy research and development for the next ten years as the method for reaching such goal by authorizing the Secretary of the Treasury to issue energy research and development savings bonds. Stipulates that the proceeds of such issue shall be deposited in the Energy Research and Development Trust Fund to be established under this Act. Sets forth terms and conditions of such issue and directs the Secretary to coordinate the administration of such bond program with existing programs for the issuance of United States savings bonds and Treasury savings certificates. States that the face amount of such issuance shall not exceed in the aggregate $50,000,000,000 outstanding at any one time. Establishes the Energy Research and Development Trust Fund as the source of funds for the program of accelerated energy-related research, development, and demonstration described in the Energy Research and Development Act.

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1 official file

• Introduced in House

  summary · EN · 16 July 1979

  Open at official source

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