Energy Bank of America Act of 1979

[AI summary unavailable — showing source text] Energy Bank of America Act of 1979 - Title I: Findings and Purposes - States that the purposes of this Act are: (1) to assure capital funds for projects important to energy development, production, distribution, and conservation; (2) to provide financial assistance for activities assuring adequate energy supplies and energy conservation; (3) to hasten commercialization of new energy technologies; (4) to develop energy sources in an environmentally sound manner; (5) to supplement and encourage private capital investment in energy; (6) to establish an energy policy and coordination priority mechanism. Title II: Corporate Status, General Powers, and Tax Status - Establishes as an agency of the United States Government an Energy Bank of America. Sets forth the general powers of the Bank in carrying out the purposes of this Act. Exempts the Bank from all taxation by the United States, any territory, dependency, or possession, and any State, county, municipal or local taxing authority, with specified exceptions. Title III: Financial Assistance - Authorizes the Bank to provide financial assistance to any entity engaged in specified energy-related projects. Sets forth eligibility condition…