Industrial Development Bank Act of 1980

[AI summary unavailable — showing source text] Industrial Development Bank Act of 1980 - Title I: Findings and Purposes - Sets forth the findings of the Congress and the purposes of this Act. Title II: Corporate Status, General Powers, and Tax Status - Establishes the United States Industrial Development Bank (Bank) as an independent agency of the United States. Exempts the Bank from taxation by the United States or any territory or by any State or local taxing authority, except taxation of real property owned in fee by the Bank. Title III: Financial Assistance - Authorizes the Bank to assist any entity in the financing of: (1) the ownership, construction, conversion, or expansion of productive facilities which: (a) would otherwise receive financing insufficient to make them commercially feasible; (b) employ or stimulate the use of innovative technologies or processes; or (c) provide needed investment in public works; and (2) the acquisition or development of physical plant or resources. Enumerates factors to be considered by the Bank, in consultation with the Secretary of Commerce, in selecting recipients of financial assistance, including the economic benefits to be derived. Directs the Bank to make adequate provision for the…