National Independent Refinery Development Act - Creates the Federal Independent Refinery Financing Fund and allocates $10,000,000 to it for the use of the Administrator of the Federal Energy Administration in carrying out this Act.
Authorizes the Administrator to guarantee interest and unpaid balances of obligations that aid in financing construction of an independent refinery or financing the purchase of independent refineries therefore acquired by the fund under the provisions of this Act.
Sets forth procedures to be followed in case of default of obligations guaranteed under this Act.
Establishes penalties for fraudulently obtained or renewed guarantees under this Act.
Authorizes to be appropriated the sum of $10,000,000 and such further sums as may be necessary to carry out the provisions of this Act.
Introduced in Senate
Referred to Senate Committee on Interior and Insular Affairs.
Reported to Senate from the Committee on Interior and Insular Affairs with amendment, S. Rept. 93-1293.
Reported to Senate from the Committee on Interior and Insular Affairs with amendment, S. Rept. 93-1293.
Passed/agreed to in Senate: Measure passed Senate, amended.
Measure passed Senate, amended.
Referred to House Committee on Banking and Currency.
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