3.0.0 2662 2023-01-01T20:17:25Z 2023-01-01T20:17:25Z Senate S 2021-08-05 117 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Standing Referred to 2021-08-05T22:32:07Z 2021-08-05 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. IntroReferral 2021-08-05 Introduced in Senate IntroReferral 10000 9 Library of Congress C001088 Sen. Coons, Christopher A. [D-DE] Christopher Coons D DE A. N K000367 Sen. Klobuchar, Amy [D-MN] Amy Klobuchar D MN 2021-08-05 True V000128 Sen. Van Hollen, Chris [D-MD] Chris Van Hollen D MD 2021-08-05 True W000790 Sen. Warnock, Raphael G. [D-GA] Raphael Warnock D GA G. 2021-08-05 True P000595 Sen. Peters, Gary C. [D-MI] Gary Peters D MI 2021-08-05 True B001267 Sen. Bennet, Michael F. [D-CO] Michael Bennet D CO 2021-08-05 True W000805 Sen. Warner, Mark R. [D-VA] Mark Warner D VA R. 2021-08-05 True B001230 Sen. Baldwin, Tammy [D-WI] Tammy Baldwin D WI 2021-11-04 False Commerce Accounting and auditing Advanced technology and technological innovations Advisory bodies Business investment and capital Competitiveness, trade promotion, trade deficits Congressional oversight Corporate finance and management Economic development Economic performance and conditions Employment and training programs Executive agency funding and structure Financial services and investments Government corporations and government-sponsored enterprises Government information and archives Government lending and loan guarantees Government studies and investigations Government trust funds Industrial policy and productivity Manufacturing Minority and disadvantaged businesses Performance measurement Product development and innovation Public-private cooperation Small business Technology transfer and commercialization Women in business Commerce

00 2021-08-05 Introduced in Senate 2022-07-20T20:43:26Z Industrial Finance Corporation Act

This bill establishes within the executive branch the Industrial Finance Corporation. The corporation must provide support for (1) manufacturing and supply chains in certain critical industries, (2) industries on the technological frontier, and (3) other economic objectives.

The bill specifies the membership and structure of the corporation and authorizes the corporation to invest in projects, make loans, and manage programs to further the corporation's economic objectives. The corporation also has the power to purchase or lease property, enter contracts, borrow funds from the Department of the Treasury (up to a specified limit), and otherwise carry out its functions.

A risk committee must develop and review the corporation's risk management policies and an audit committee must oversee the integrity of the corporation's finances. The bill also requires the corporation to develop a performance measurement system to evaluate and monitor projects and guide future projects. Further, the corporation must develop appropriate safeguards, policies, and guidelines to ensure that its projects supplement, rather than compete with, private sector supports.

The corporation must periodically report on its projects and publish certain project-level information.

]]>

Official Title as Introduced Introduced in Senate IS Display Title Short Title(s) as Introduced Introduced in Senate IS Introduced in Senate 2021-08-05T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-117s2662is/xml/BILLS-117s2662is.xml 2021-08-05 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.