National Domestic Development Bank Act

[AI summary unavailable — showing source text] National Domestic Development Bank Act - Establishes a National Domestic Development Bank to provide an alternative source of funds for community facilities and economic development. Outlines the special authority of the Bank to purchase obligations and make loans to finance construction, or reconstruction to energy efficient standards, of community facilities and public works. Provides for the establishment of a regional operating divisions of the Bank and for technical assistance in areas related to the Bank's activities. Provides for capitalization of the Bank and an audit report to Congress. Grants the Bank tax-exempt status, with specified limitations. Provides a partial tax exclusion for individuals for 50 percent of Bank dividends.…