National Energy and Environment Research Corporation Act

National Energy and Environment Research Corporation Act - States the purposes of this Act, including: (1) to ensure that the resources of private enterprises and the Federal Government are effectively and efficiently committed to maximizing technological research and development consistent with the preservation of environmental quality; and (2) to establish a wholly Government-owned corporation to guarantee and make loans to promote and advance basic research and development in scientific and technological areas determined to be of critical national concern, specifically including the inadequacy of future energy sources, resource conservation, and environmental problems threatening the national welfare.

Title I: Structure and Financing of Corporation - Establishes the National Energy and Environment Research Corporation as a body corporate. Makes the Corporation an instrumentality of the United States, to have succession until dissolved by Act of Congress.

Provides for the Board of Directors of the Corporation.

Provides for the appointment and compensation of the officers and employees of the Corporation. Stipulates that no director, officer, attorney, agent, or employee of the Corporation shall participate in or benefit from deliberations upon or the determination of any question affecting his personal interests, those of his spouse or minor children, or the interests of any association in which he is interested.

Sets penalties and fines of up to $10,000 or imprisonment for not more than one year, or both, for violations of the prohibitions under this Act.

Sets forth powers and obligations of the Corporation under this Act.

Title II: Procedures for Issuance and Review of Guarantees and Loans - Sets forth conditions for loan issues under this title. Stipulates that the Corporation may issue a guaranty of a loan only if: (1) the guaranty does not exceed 90 percent of the interest and principal of such loan; (2) such loan is made by a bank, savings bank, trust company, building and loan or savings and loan association, insurance company, mortgage loan company, or credit union; (3) the effective interest rate for such loan varies at a rate not to exceed more than 1 1/2 percent above the Federal Reserve discount rate at any time; and (4) the Board is satisfied that the financial assistance applied for is necessary to encourage financial participation by private lenders or investors.

Stipulates that the Corporation shall only make loans under this Act if: (1) the loan bears interest at a rate, determined by the Secretary of the Treasury, not less than the current average yield, during the month preceding the commitment to make the loan, on outstanding, marketable, interest-bearing obligations of the United States of comparable maturity then forming a part of the public debt; and (2) the borrower is able to present evidence that he has been unable after diligent effort to secure a loan which the Corporation has offered to guarantee.

Requires the Corporation to give preferential treatment to small and medium-sized concerns which can provide additional competition in the energy and environmental fields.

Establishes a Scientific Advisory Panel. Stipulates that the Board shall determine the size, membership, and composition of the Scientific Advisory Panel, but in any event, the membership of such Panel shall be broadly representative of the science, engineering, and consumer communities and shall include representatives of the National Science Foundation, the Environmental Protection Agency, the National Bureau of Standards, the Energy Research and Development Administration, the Federal Energy Administration, and other appropriate Federal agencies active in the field of scientific research.

Directs the Scientific Advisory Panel to advise the Board on the appropriateness of categories provided for under this title, particularly with respect to the environmental advantages and disadvantages of establishing such categories, on the appropriateness of providing conditions in the terms of guaranties and loans, and on any other issues on which directors might request advice.

Title III: Miscellaneous - Directs the President of the Corporation to transmit to Congress annually a report setting forth the guaranties, loans and commitments which were made by the Corporation during the preceding year, together with a description of the efforts made by the Corporation to carry out the purposes of this Act and any recommendations for further action.

States that the Corporation, its Board, officers, and employees, upon the request of the chairman of any committee, subcommittee or joint committee of the Congress, shall cooperate in the prompt furnishing of any information requested concerning the activities of the Corporation.

Authorizes the appropriation to the Secretary of the Treasury, without fiscal year limitation, the sum of $1,000,000,000, to finance the purchase of Corporation stock.

Authorizes the appropriation, without fiscal year limitation, of such sums as may be necessary to pay the difference, if any, between the interest paid by the Corporation on its obligations and the interest received by the Corporation on its loans, and to reimburse the capital of the Corporation to the extent of any defaults, and such additional sums as may be necessary to establish and operate the Corproation and otherwise carry out the purposes of this Act.

States that no person on the gound of sex shall be excluded from participation in, be denied the benefits of, or be subjected to discrimination under any program or activity carried on or receiving Federal assistance under this Act.