H.R.895 - Economic Development Administration Sunset Act103rd Congress (1993-1994)
|Sponsor:||Rep. Hefley, Joel [R-CO-5] (Introduced 02/16/1993)|
|Committees:||House - Banking, Finance, and Urban Affrs; Public Works and Transportation|
|Latest Action:||03/03/1993 Referred to the Subcommittee on Economic Growth and Credit Formation. (All Actions)|
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Summary: H.R.895 — 103rd Congress (1993-1994)All Information (Except Text)
Introduced in House (02/16/1993)
Economic Development Administration Sunset Act - Abolishes the Economic Development Administration (Administration).
Repeals the Public Works and Economic Development Act of 1965 and the Local Public Works Capital Development and Investment Act of 1976.
Requires the Secretary of Commerce to conclude the Administration's affairs and authorizes the Secretary to fulfill the terms of any agreement, loan, or obligation authorized by the repealed Acts.
Provides for the continuance of the Economic Development Revolving Fund for purposes of receiving collections and repayments and fulfilling obligations under the repealed Acts. Abolishes the Fund when the Secretary determines that it is no longer necessary to carry out such activities.