National Public Works Corporation Act

[AI summary unavailable — showing source text] National Public Works Corporation Act - Amends the Public Works and Economic Development Act of 1965 to establish the National Public Works Corporation. Provides for the Board of Directors, the officers and employees, and the powers of such Corporation. Requires the principal office to be in the District of Columbia. Provides for the borrowing authority, capitalization, and reserve fund of the Corporation. Authorizes appropriations for the capitalization of the Corporation for fiscal years following 1987. Authorizes States electing to participate in the Corporation to make certain contributions. Sets the maximum amount of contributions any one State may make to the Corporation. Authorizes the Corporation to make loans to participating States and local governments for projects for the construction, rehabilitation, and repair of public facilities in accordance with this Act. Prohibits loan plans from being used to pay the non-Federal share of the cost of Federal projects. States the maximum amount of outstanding loans authorized for such projects. Prohibits the Corporation from making a loan for a public facility project unless it determines that such facility, upon completion, will …