Northeast-Midwest States Federal Hydropower Financing Authority Act

[AI summary unavailable — showing source text] Northeast-Midwest States Federal Hydropower Financing Authority Act - Establishes the Northeast-Midwest States Hydropower Financing Authority (the Corporation). Makes the incorporation of such Authority effective upon notification of the Secretary of Energy by the Governors of at least four eligible Northeast-Midwest States of their desire to be members of the Corporation. Provides that the Corporation's Board of Directors shall consist of each Governor of a member State and a Chairman appointed by the President, by and with the advice and consent of the Senate. Authorizes the Corporation to make loans and loan guarantees for hydropower development to: (1) member States; (2) their political subdivisions which are engaged in retail electric service; (3) power authorities of such States; and (4) rural electric cooperatives, interstate compact river commissions, and consumer- and stockholder- owned electric utilities which are located within member States. Sets forth limitations and conditions with respect to the making of such loans and loan guarantees. States that the Corporation's principal office shall be maintained in the vicinity of Pittsburgh, Pennsylvania. Requires that the Co…