Arid Lands Renewable Resources Corporation Act of 1981

Summary

Arid Lands Renewable Resources Corporation Act of 1981 - Title I: General Provisions - Declares the purpose of this Act to be to encourage private investment in developing domestic oil and rubber producing plants. Title II: Establishment of Corporation - Creates the Arid Lands Renewable Resources Corporation. Vests the Corporation's powers in a Board of Directors. Provides for the appointment of an Inspector General and an Advisory Committee to the Board of Directors. Title III: Production Goal of the Corporation - Requires the Board to develop and submit a comprehensive strategy plan to the Congress within one year of enactment of this Act. Sets forth procedures for: (1) congressional approval of such plan by joint resolution; (2) disapproval of a Corporation action by either House; and (3) congressional approval of an amendment to the plan by concurrent resolution. Directs the Corporation to periodically solicit arid lands resources proposals. Title IV: Financial Assistance - Authorizes the Corporation to provide financial assistance through price guarantees, loans, and joint ventures. Title V: Corporation Construction Projects - Authorizes the Corporation to own arid lands resources projects, including construction projects. Title VI: Capitalization and Finance - Authorizes the Corporation to issue obligations solely to the United States. Grants it tax free status. Title VI: Unlawful Acts, Penalties, and Suits Against the Corporation - Sets forth penalty and related provisions. Title VIII: General Provisions - Requires the Corporation to: (1) submit quarterly and annual reports to the President and the Congress; and (2) conduct a study of supplemental financial protection for lenders. Authorizes Western Hemisphere projects. Title IX: Disposal of Assets - Authorizes the Corporation to dispose of assets. Title X: Termination of Corporation - Sets forth termination provisions. Title XI: Department of the Treasury - Authorizes unspecified appropriations.

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

Timeline

No timeline events have been ingested for this record yet.

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

• Introduced in Senate

  summary · EN · 10 July 1981

  Open at official source

Sponsors

No sponsors or actors listed by the source.

Related records

No cross-record relationships stored yet.