H.R.7743 - A bill to amend the Pennsylvania Avenue Development Corporation Act of 1972 (Public Law 92-578), as amended.94th Congress (1975-1976)
|Sponsor:||Rep. Skubitz, Joe [R-KS-5] (Introduced 06/09/1975)(by request)|
|Committees:||House - Interior and Insular Affairs|
|Committee Reports:||H.Rept 94-894 Part 2; H.Rept 94-894|
|Latest Action:||House - 07/26/1976 Measure laid on table in House, S. 1689 passed in lieu. (All Actions)|
|Roll Call Votes:||There have been 2 roll call votes|
This bill has the status Passed House
Here are the steps for Status of Legislation:
- Failed House
- Passed House
Summary: H.R.7743 — 94th Congress (1975-1976)All Information (Except Text)
(Reported to House from the Committee on Interior and Insular Affairs with amendment, H. Rept. 94-894)
Reported to House with amendment(s) (03/12/1976)
Increases the authority of the Pennsylvania Avenue Development Corporation, under the Pennsylvania Avenue Development Corporation Act of 1972, to borrow from the United States Treasury from $50,000,000 to $200,000,000, through September 30, 1990. Permits the Corporation to make loans, in an aggregate of $50,000,000 at one time, to approved applicants, who present economically feasible plans for development and permanent financing, and evidence of management capacity and financial responsibility, for undertaking projects under the development plan.
Creates the Pennsylvania Avenue Development Fund within the U.S. Treasury, which shall be available through September 30, 1990, as a revolving fund for the purposes of such Act.
Authorizes appropriations through fiscal year 1978 for operating and administrative expenses of the Corporation. Authorizes the appropriation of $38,800,000, through fiscal year 1978, to the Corporation for commencement of the development plan, provided the Williard Hotel is preserved as a demonstration area with such funds.