Synthetic Fuels Production Act of 1979

[AI summary unavailable — showing source text] Synthetic Fuels Production Act of 1979 - Title I: Findings and Purposes - Declares that the purpose of this Act is to establish a synthetic fuels and alternate fuels production plan for the Nation. Title II: Corporate Status, General Powers, Subsidiaries, and Tax Status - Establishes the Syn-Fuels and Alternate Fuels Authority which shall be responsible for directing the production of synthetic fuels. Sets forth the general powers of such Authority, including the power to create subsidiary corporations to carry out one or more of the functions of the Authority. Exempts the Authority from all State and Federal taxation except real property taxes and taxes imposed on any entity acquired or established by the Authority which engages in energy-related enterprises. Title III: Financial Assistance - Authorizes the Authority to provide financial assistance to any business concern engaged or which proposes to engage in synthetic and other alternate fuel projects. Sets forth criteria for granting such assistance and specifies application procedures, interest rates, and other conditions for obtaining such assistance. Authorizes the Authority to make loan guaranties to any lender for loans ma…