National Refinery Facilities Expansion Act

[AI summary unavailable — showing source text] National Refinery Facilities Expansion Act - Authorizes the President to take such action as may be necessary, including the acquisition of lands and interests therein, to cause to be designed and constructed a minimum of seven full-scale optimum commercial-size facilities for the refining of petroleum products, of which at least one such facility shall be located within each of the five Petroleum Administration for Defense Districts (PAD Districts). States that the location and construction of the refining facilities shall be carried out consistent with environmental impact considerations. Requires the President to transfer, to each of the corporations established pursuant to this Act, all land and interests therein owned or acquired for such refining facilities, together with any improvements, from time to time. Establishes, within one year after the date on which this Act becomes effective, for each refining facility authorized under this Act, one corporation for profit which will not be an agency or establishment of the United States Government. Authorizes each such corporation to issue, sell, and have outstanding equity and debt securities in such amounts and at such times as …