Reconstruction Finance Corporation Act of 1979

[AI summary unavailable — showing source text] Reconstruction Finance Corporation Act of 1979 - Establishes a body corporate known as the Reconstruction Finance Corporation with a principal office to be located in the District of Columbia. Provides that the Corporation shall have a capital stock of $2,000,000,000 to be appropriated from the Treasury of the United States. Specifies the membership of the Board of Directors of such Corporation and grants the Corporation the powers necessary to function as such. Authorizes the Corporation, in order to aid in financing agriculture, commerce, and industry, to make loans to any business concern: (1) to enable such concern to finance plant construction, conversion, or expansion, or the acquisition of equipment, facilities, machinery, supplies, or materials; (2) to supply such concern with working capital; or (3) to aid such concern in the payment of current debts or obligations, if such aid is considered by the Board of Directors to be in the public interest. Prohibits the making of a loan to any business concern under this Act unless such concern is otherwise unable to obtain a loan on reasonable terms. Provides that each loan made under this Act may be made for a period not exceeding…