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 16 members. Makes it the duty of the Corporation to establish and revise standards for the voluntary national accreditation of zoos and aquariums. Authorizes the Corporation to provide technical assistance to assist any zoo or aquarium in complying with accreditation standards established under this Act.

Authorizes the Corporation to make grants to any nonprofit organization to provide for the training of and research by the professional staff of such zoo or aquarium which meets the accreditation standards. 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, not to exceed 50 percent of the aggregate cost.

Authorizes the Corporation to insure mortgages in accordance with the provisions of this Act. Authorizes the Corporation to gurantee 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 fund for fiscal year 1972 such sums as may be necessary to carry out this Act. Authorizes the Corporation to borrow money and to issue and sell obligations. 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.