Pollution Control Facility Loan Act

Summary

Pollution Controll Facility Loan Act - Defines the terms used in this Act. Authorizes the Secretary of Commerce to make loans to any applicant to aid in financing any project within an eligible area for the acquisition, construction, rehabilitation, alteration, expansion, or improvement of a certified pollution control facility. Specifies the conditions of such loans, including that: (1) no loan shall be made unless it is determined that there is reasonable assurance of repayment; (2) no loan, including renewals or extensions, may be made for a period exceeding twenty-five years; (3) loans shall bear interest at the rate of 5 percent per annum; and (4) no loan shall be made which exceeds 65 percent of the aggregate cost of the project. Establishes in the Treasury a revolving fund available to the Secretary for the purpose of making loans under this Act. Authorizes to be appropriated $750,000,000 to carry out this Act and to be deposited in the revolving fund.

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1 official file

• Introduced in Senate

  summary · EN · 29 January 1974

  Open at official source

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