A bill to establish an education satellite loan guarantee program for communications among education, Federal, State, and local institutions and agencies and instructional and educational resource providers.

Summary

Authorizes the Secretary of Commerce to carry out an educational satellite loan guarantee program. Guarantees any lender against loss of principal or interest on a loan which is to be used solely to acquire and operate a communications satellite system dedicated to transmitting instructional programming. Restricts eligibility for such a loan to a non-Federal, nonprofit, public corporation: (1) whose sole purpose is to acquire and operate such a system; (2) whose governing board includes members representing elementary and secondary education, vocational and technical education, community and State colleges, and universities; (3) whose charter is designed for affiliation with State and local instructional institutions and agencies and other distance learning and instructional resource providers; and (4) which was in existence as of January 1, 1992. Requires such corporation, before such loan is guaranteed, to have: (1) investigated all practical means to acquire a communications satellite system; (2) reported its findings to the Secretary; and (3) recommended the most cost-effective, high-quality communications satellite system for the purposes of this Act. Sets forth limitations on the amount of guaranteed loans to acquire such system and to operate and manage it for up to three years. Requires the lender to assign rights and interests in such system to the United States upon payment of such loan guarantee. Authorizes appropriations.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 27 September 1995

   Introduced

   Read twice and referred to the Committee on Commerce.

   Source: IntroReferral

2. 27 September 1995

   Introduced

   Sponsor introductory remarks on measure. (CR S14411-14412)

   Source: IntroReferral

3. 27 September 1995

   Introduced

   Introduced in Senate

   Source: IntroReferral

4. 24 April 1996

   Committee

   Subcommittee on Science, Technology, and Space. Hearings held.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 27 September 1995 · Official file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 27 September 1995

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 27 September 1995

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 27 September 1995

  Open at official source

Sponsors

• Sen. Burns, Conrad R. [R-MT] · R · Sponsor
• · sscm00 · Standing

Related records

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