A bill to provide assistance in improving zoos and aquariums by creating a National Zoological and Aquarium Corporation.

Creates the National Zoological and Aquarium Corporation. Provides that the management of such corporation shall be vested in a Board of Directors to be composed of sixteen members. Provides that it shall be the duty of the Corporation to establish and from time to time revise standards for the voluntary national accreditation of zoos and aquariums. Authorizes the Corporation to provide technical assistance in the form of the services of Federal officers or employees to assist any zoo or aquarium in complying with the accreditation standards established under this Act.

Authorizes the Corporation to make grants to nonprofit organizations to provide for the training of and research by the professional staff of such zoo or aquarium which meets the accreditation standards under this Act. Provides that no grants for the above purpose shall exceed 75 percent of the aggregate cost of such training or research. Authorizes the Corporation to make grants for the establishment of a pilot project for a model zoo and/or aquarium. Provides that no grant for the above project shall exceed 50 percent of the aggregate cost.

Authorizes the Corporation to insure mortgages upon such terms and conditions as it may prescribe in accordance with the provisions of this Act.

Authorizes the Corporation to guarantee loans made to zoos and aquariums for the construction or modernization of their facilities.

Establishes a revolving fund in the Treasury of the United States which shall be available to the Corporation without fiscal year limitation and as provided by appropriation Acts, to carry out the provisions of this Act. Authorizes to be appropriated to the revolving fund for the fiscal year 1972 such sums as may be necessary to carry out the provisions of this Act. Authorizes the Corporation to borrow money and to issue and sell obligations as it determines necessary to carry out the purposes of this Act. Provides that the aggregate amount of such obligations outstanding at any one time shall not exceed $10,000,000. Provides that the Corporation may require the Secretary of the Treasury to purchase obligations of the Corporation in such amounts as will not cause the holding by the Secretary to exceed $2,000,000. Provides for an audit of the transactions of the Corporation by the Comptroller General of the United States at least once each fiscal year.