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United States · Bill · S

S. 1396 (95th)

National Domestic Development Bank Act

referredUnited States· United States Congress· EN

Introduced

27 April 1977

Last action

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Status

Referred to Senate Committee on Banking, Housing and Urban Affairs.

Sponsors

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Subjects

Discovery layer

Source updated

2 September 2025

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Summary

National Domestic Development Bank Act - Establishes a National Domestic Development Bank to provide an alternative source of funds for community facilities and economic development. Outlines the special authority of the Bank to purchase obligations and make loans to finance construction, or reconstruction to energy-efficient standards, of community facilities and public works. Provides for the establishment of regional operating divisions of the Bank and for technical assistance in areas related to the Bank's activities. Provides for capitalization of the Bank and an audit report to Congress. Grants the Bank tax-exempt status, with specified limitations. Provides a partial tax exclusion to individuals for 50 percent of Bank dividends.

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Documents

1 official file

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