National Industrial Innovation Act of 1980

Summary

National Industrial Innovation Act of 1980 - Title I: Establishment of National Industrial Innovation Corporation - Authorizes the creation of the National Industrial Innovation Corporation as a Federal agency to promote the development and commercialization of U.S. industrial innovation endeavors. Sets forth provisions for the administrative organization, financing, and powers of the Corporation. Title II: Financial Assistance - Authorizes the Corporation to provide financial assistance to qualifying firms for industrial innovation endeavors. Directs the Corporation to assist smaller firms in applying for such assistance. Specifies standards required of recipient firms. Authorizes the Corporation to make a loan to or invest in qualifying firms in the development and/or production of a single industrial innovation endeavor project. Sets forth elements to be considered in selecting such projects. Authorizes the Corporation to make loan guarantees for eligible firms and projects pursuant to this Act. Sets forth restrictions on the provision of such financial assistance. Requires recipients to provide information as directed by the Corporation. Title III: Miscellaneous Provisions - Sets forth provisions relating to the Corporation's tax-exempt status, budgetary treatment, deposits of money, obligations, and accounts. Directs the Corporation to submit annual reports to the Director of the Office of Management and Budget, the Congress, and the President.

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1 official file

• Introduced in House

  summary · EN · 16 September 1980

  Open at official source

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