HR 5827 · 98th Congress · Finance and Financial Sector
National Industrial Revitalization Board Act of 1984
Bill Progress
✓
Introduced2
Committee3
House Vote4
Senate5
EnactedLatest: Referred to Subcommittee on Economic Stabilization.(1984-06-29)
Plain Language Summary
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National Industrial Revitalization Board Act of 1984 - Establishes the National Industrial Revitalization Board as an independent instrumentality of the Federal Government. Terminates the Board on the last day of the tenth calendar year following enactment of this Act. Authorizes the Board to provide assistance, in the form of loans or loan guarantees and under the terms and conditions set forth by this Act, to any eligible business concern. Make a business concern eligible for such assistance only if the Board certifies that it is likely to become insolvent without such assistance, that its closure would adversely affect the economy, and that plant modernization would otherwise not take place due to the unavailability of credit. Requires a plan of reorganization and modernization to be obtained before the Board may make loans or guarantee loans made by non-Federal lenders to eligible business concerns. Sets forth limitations and conditions on the amount of assistance that may be provided. Provides for capitalization of the Board and sets forth other financial provisions. Requires applicants for a loan or a guarantee under this Act to consent to any examinations the Board may requi…
Summarized by Claude AI · Non-partisan · For informational purposes only