Industrial Revitalization Act of 1992 - Title I: Domestic Loan Guarantee Fund for the Revitalization of American Industry - Creates an Economic Transition Assistance Board. Authorizes the Board to guarantee principal and interest on loans and, in certain circumstances, provide interest subsidies for the loans, giving priority to aerospace manufacturing loans.
Sets forth assistance conditions, including that the applicant be: (1) affected by U.S. defense budget reductions or by assistance by foreign governments to foreign competitors; and (2) engaged in work critical to national security or economic security. Requires full collateralization. Prohibits, during the loan and without Board approval, certain borrower actions, including: (1) declaring an extraordinary dividend; (2) making payment on certain other indebtedness; or (3) shifting any significant part of its manufacturing activities outside the United States.
Limits the aggregate amount of obligations of the Board and the maximum obligations to any single enterprise.
Establishes in the Treasury an emergency loan guarantee fund to be administered by the Board to pay Board expenses and to fulfill the Board's obligations under this title. Authorizes the Board, if amounts in the fund are insufficient, to issue obligations to the Secretary of the Treasury.
Requires any Federal Reserve bank which is requested to do so to act as fiscal agent for the Board.
Authorizes appropriations.
Title II: Commercial Aircraft Agreement - Requires the U.S. Trade Representative to report on the operation of the Agreement Concerning the Application of the GATT Agreement in Civil Aircraft, including on: (1) subsidies to the aerospace industry by European Community nations; (2) any Agreement benefits to the U.S. aerospace industry; and (3) subsidies by the European Space Agency to Arianespace in commercial launch services.
Title III: National Aeronautics and Space Administration Technology Development - Requires the National Aeronautics and Space Administration to: (1) modify procedures for the development, acquisition, and dissemination of technical aeronautics and space information; and (2) conduct technology projects with U.S. industry partners under agreements providing at least partially exclusive rights to participating companies.
Title IV: Export-Import Bank Provisions - Requires the Export-Import Bank of the United States to report on: (1) the competitiveness of the bank's export finance services to the domestic commercial aerospace industry as compared to the services offered by foreign governments that finance the export of commercial aircraft; and (2) how the bank can more effectively assist U.S. commercial aircraft manufacturers to sell in the world market.
Title V: Skills Conversion - Establishes the Skills Conversion Program to reeducate, retrain, and reorient scientific and technical personnel displaced or threatened with displacement by defense budget reductions to fill positions in existing or emerging industries. Authorizes grants for: (1) retraining services; and (2) assistance to employees during retraining. Mandates a fellowship, not to exceed a specified amount, for an employee while participating in the program.
Introduced in House
Introduced in House
Referred to the House Committee on Banking, Finance + Urban Affrs.
Referred to the House Committee on Education and Labor.
Referred to the House Committee on Science, Space and Technology.
Referred to the House Committee on Ways and Means.
Referred to the Subcommittee on Technology and Competitiveness.
Referred to the Subcommittee on Trade.
Referred to the Subcommittee on Economic Stabilization.
Referred to the Subcommittee on Postsecondary Education.
Referred to the Subcommittee on Employment Opportunities.
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