Economic Revival and Development Act

[AI summary unavailable — showing source text] Economic Revival and Development Act - Declares that it is the purpose of this Act to authorize financial assistance to expand economic opportunity, stimulate development, reduce unemployment, and restore and promote the economic stability of the United States. Establishes the Restoration Finance Corporation, which shall be directed by a Board of Directors. States that the Corporation shall be a Government corporation and shall maintain its principal office in the District of Columbia. Provides that the Corporation shall have succession until January 1, 1980, unless earlier dissolved by an Act of Congress. Provides for a seven-member Board, four of whom, including the chairman, shall be appointed by the President, by and with the advice and consent of the Senate. Sets forth the terms of office of Board members and compensation. States that the Corporation shall promote specified goals, including: (1) the revival, through loans and guarantees, of business concerns; (2) the promotion of new sources of economic strength; and (3) the prevention of business failures where such failure would have a serious adverse impact on financial institutions. Sets forth powers and duties of the Corp…