United States Revitalization Act

United States Revitalization Act - Establishes the United States Revitalization Bank as an instrumentality of the United States with a board of directors appointed by the President with the advice and consent of the Senate. Sets forth the powers of the Bank.

Directs the Bank to submit an annual report to the President, the Secretary of the Treasury, and the Congress.

Sets the capital stock of the Bank at $5,000,000,000 subscribed by the Treasury from funds appropriated for such purpose.

Grants the Bank the power to issue tax-exempt obligations in an outstanding aggregate principal amount not to exceed five times the paid-in-capital of the Bank at such time. Grants the Bank power to enter into agreements respecting its obligations.

Permits the Bank, taking into account the market conditions for its obligations, to request that the Secretary guarantee its obligations with the full faith and credit of the United States.

Specifies the tax status of the Bank, its real property and its employees.

Authorizes the Bank to provide financial assistance to a business enterprise upon written request. Requires such request to be accompanied by a plan in accordance with the terms of this Act. Provides for assistance: (1) in cases of financial distress; or (2) for modernization or expansion that would have a significant beneficial impact on employment opportunities and productivity in the Nation.

Sets forth general eligibility standards and conditions for financial assistance under this Act.

Authorizes the Bank to provide financial assistance, under specified terms and conditions, to a local governmental unit which satisfies certain eligibility criteria. Directs the Bank, in providing such financial assistance, to give priority to those projects which: (1) involve facilities in urgent need of restoration; (2) result in the largest savings in annual operating costs or other costs; (3) significantly contribute to the economic development or reduce the economic decline of the area; and (4) will, upon completion, serve or benefit the largest number of persons.

Authorizes the Bank to make loans, and to guarantee the payment of principal and interest on loans, to a local governmental unit or to a business enterprise on such terms and conditions as it deems appropriate. Sets forth the general requirements of such terms and conditions.

Authorizes the Bank, in any case in which it is determined that other available forms of financial assistance are inappropriate, to purchase capital stock of an applicant business enterprise.

Prohibits the aggregate amount of financial assistance to any one local governmental unit or business enterprise from exceeding, at any one time, ten percent of the paid-in capital stock of the Bank plus the aggregate amount of obligations of the Bank authorized to be outstanding under this Act.

Authorizes the Board, at any time a request for financial assistance is pending or outstanding, to inspect and copy all documents of the applicant relating to its financial affairs and to have access to all facilities and properties of the applicant.

Terminates the existence of the Bank 30 years after the effective date of this Act. Prohibits the Bank from making any commitments to provide new or increased financial assistance later than six years after the effective date of this Act.

Transfers to the Secretary the duty of completing the winding up and liquidation of the Bank, if upon termination the Bank has not completed such activities.

Applies to the Bank the financial disclosure provisions of the Ethics in Government Act of 1978. Sets forth conflict of interest prohibitions which shall govern directors, officers, and staff members.

Authorizes appropriations to carry out the provisions of this Act.