National Industrial Revitalization Board Act of 1984

Summary

National Industrial Revitalization Board Act of 1984 - Establishes the National Industrial Revitalization Board as an independent instrumentality of the Federal Government. Terminates the Board on the last day of the tenth calendar year following enactment of this Act. Authorizes the Board to provide assistance, in the form of loans or loan guarantees and under the terms and conditions set forth by this Act, to any eligible business concern. Make a business concern eligible for such assistance only if the Board certifies that it is likely to become insolvent without such assistance, that its closure would adversely affect the economy, and that plant modernization would otherwise not take place due to the unavailability of credit. Requires a plan of reorganization and modernization to be obtained before the Board may make loans or guarantee loans made by non-Federal lenders to eligible business concerns. Sets forth limitations and conditions on the amount of assistance that may be provided. Provides for capitalization of the Board and sets forth other financial provisions. Requires applicants for a loan or a guarantee under this Act to consent to any examinations the Board may require. Requires the Board to publish a quarterly report of its operations to Congress. Requires an annual audit of the Board's financial records. Applies the financial disclosure provisions of the Ethics in Government Act of 1978 to Board members and employees. Prohibits the Board from making any commitment to provide new or increased financial assistance to any applicant later than five years after the effective date of this Act. Authorizes appropriations.

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1 official file

• Introduced in House

  summary · EN · 12 June 1984

  Open at official source

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