Reconstruction Finance Corporation Act of 1980

[AI summary unavailable — showing source text] Reconstruction Finance Corporation Act of 1980 - Creates the Reconstruction Finance Corporation of 1980 to be administered by a board of directors. Sets forth the powers of the Corporation. Requires the Corporation to report annually on its operations to the President, the Secretary of the Treasury, and Congress. Provides for the capitalization of and issuance of obligations by the Corporation. Grants the Corporation tax-exempt status with specified exceptions. Authorizes the Corporation to provide financial assistance to business enterprises which meet specified eligibility criteria, including a beneficial impact on employment opportunities and productivity, the provision of necessary goods or services, the national interest, a feasible recovery plan, a reasonable assurance of repayment, and an employee stock ownership plan. Authorizes the Corporation to provide financial assistance to local governmental units which meet specified eligibility criteria, including a feasible recovery plan, State assistance, the national interest, a financial control board, and a reasonable assurance of repayment. Authorizes the Corporation to make loans and to guarantee loans to local governmental u…