National Rural Development Bank Act of 1979

Summary

National Rural Development Bank Act of 1979 - Establishes a National Rural Development Bank as a federally chartered instrumentality of the United States subject to the policies of a National Rural Development Bank Board, appointed by the President, with the advice and consent of the Senate. Empowers the Bank to provide joint venture equity-participation investment, loans, and the discounting, rediscounting, refinancing, and purchase of loans extended by National or State rural financial institutions to rural residents, agricultural producer organizations, rural industrial and commercial enterprises, quasi-public bodies, Indian tribes and units of general and special purpose government to establish, construct and operate private and public facilities, works, and services in rural areas and provide remunerative employment to increasing numbers of rural residents.

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1 official file

• Introduced in Senate

  summary · EN · 7 February 1979

  Open at official source

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