Industrial Finance Corporation Act

Summary

Industrial Finance Corporation Act This bill establishes within the executive branch the Industrial Finance Corporation. The corporation must provide support for (1) manufacturing and supply chains in certain critical industries, (2) industries on the technological frontier, and (3) other economic objectives. The bill specifies the membership and structure of the corporation and authorizes the corporation to invest in projects, make loans, and manage programs to further the corporation's economic objectives. The corporation also has the power to purchase or lease property, enter contracts, borrow funds from the Department of the Treasury (up to a specified limit), and otherwise carry out its functions. A risk committee must develop and review the corporation's risk management policies and an audit committee must oversee the integrity of the corporation's finances. The bill also requires the corporation to develop a performance measurement system to evaluate and monitor projects and guide future projects. Further, the corporation must develop appropriate safeguards, policies, and guidelines to ensure that its projects supplement, rather than compete with, private sector supports. The corporation must periodically report on its projects and publish certain project-level information.

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Timeline

1. 5 August 2021

   Introduced

   Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

   Source: IntroReferral

2. 5 August 2021

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 5 August 2021 · Download file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 5 August 2021

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 5 August 2021

  ViewDownloadOpen at official source

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• Introduced in Senate

  summary · EN · 5 August 2021

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Sen. Coons, Christopher A. [D-DE] · D · Sponsor
• Sen. Klobuchar, Amy [D-MN] · D · Sponsor
• Sen. Van Hollen, Chris [D-MD] · D · Sponsor
• Sen. Warnock, Raphael G. [D-GA] · D · Sponsor
• Sen. Peters, Gary C. [D-MI] · D · Sponsor
• Sen. Bennet, Michael F. [D-CO] · D · Sponsor
• Sen. Warner, Mark R. [D-VA] · D · Sponsor
• Sen. Baldwin, Tammy [D-WI] · D · Cosponsor
• · ssbk00 · Standing

Related records

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