Chrysler Industrial Loan Guarantee Act

[AI summary unavailable — showing source text] Chrysler Industrial Loan Guarantee Act - Authorizes the Secretary of the Treasury to guarantee loans made to Chrysler Corporation if the Secretary determines that: (1) such a guaranteed loan is needed to enable Chrysler to continue to operate and the failure to meet this need would adversely and seriously affect the employment or economic situation in the United States or any of its regions; (2) Chrysler is unable to obtain credit upon reasonable terms without such a guarantee; (3) Chrysler's prospective earning power, together with any security it pledges, furnishes reasonable assurance that the loan will be repaid; (4) the lender certify that it would not make a loan without such guarantee; (5) such loan must be payable in not more than five years; and (6) the loan bears interest at a rate the Secretary establishes, taking into account the reduced risk afforded by the guarantee and interest rates on comparable loans. Requires Chrysler to add six members to its board of directors representing labor, consumer, and environmental groups. Requires Chrysler to submit a development plan to the Congress and the Secretary containing employee training objectives, plans for retooling the Ha…