Chrysler Corporation Loan Guarantee Act of 1979

[AI summary unavailable — showing source text] Chrysler Corporation Loan Guarantee Act of 1979 - Authorizes the Secretary of the Treasury to enter into commitments to guarantee loans made to Chrysler Corporation if the Secretary determines that: (1) such a commitment 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, or the degree of competition in the automobile industry; (2) Chrysler has submitted a feasible operating plan for its 1980 fiscal year and the next three fiscal years demonstrating its ability to continue as a going concern in the automobile business without additional Federal assistance after December 31, 1983; and (3) Chrysler has submitted a satisfactory financial plan which includes at least $1,500,000,000 in funds that are not guaranteed by the Federal Government. Requires a portion of such nonfederal funds to be in the form of commitments and concessions contributed after October 17, 1979, by financial institutions, Chrysler's creditors, shareholders, and employees, and management, State and local governments, labor unions, and other entities with an economic…