National Investment Act of 1982

National Investment Act of 1982 - Title I: Regional Development Bank System - Subtitle A - National Investment Authority - Establishes an independent agency of the United States to be known as the National Investment Authority with its offices in the District of Columbia.

Requires the Authority to oversee and coordinate the activities of the Regional Development Banks, established by this Act, and to ensure that they conduct their activities in a manner designed to further the purposes of this Act.

Provides for the membership and staff of the Authority, and sets forth its powers.

Requires the Authority to report annually to the President and to each House of Congress.

Subtitle B - Regional Development Banks - Establishes the following Regional Development Banks, as instrumentalities of the United States: (1) the Southwestern Regional Development Bank; (2) the Northwestern Regional Development Bank; (3) the Midwestern Regional Development Bank; (4) the Southeastern Regional Development Bank; and (5) the Northeastern Regional Development Bank.

Sets forth the composition of the Board of Directors of each bank.

Declares that each Bank shall have capital stock of $1,000,000,000 subscribed by the Treasury.

Grants each Bank the power to issue obligations within specified limits of authorized indebtedness.

Exempts such obligations from all taxation except estate, inheritance, and gift taxes.

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

Exempts each Bank from all taxation except State and local real property taxes.

Authorizes each Bank to provide financial assistance, under specified terms and conditions, to any business enterprise that satisfies the eligibility criteria.

Sets forth such eligibility criteria.

Prohibits any Bank from providing financial assistance to a business enterprise for purposes of acquiring, or merging with, any other business enterprise or any depository institution.

Authorizes each Bank to provide financial assistance, under specified terms and conditions, to labor organizations, community organizations, or units of local government that satisfy specified eligibility criteria.

Authorizes each Bank to lend and to guarantee loans to a business enterprise, labor organization, community organization, or unit of local government located in the region, and to make commitments to make such loans and guarantees.

Sets a maximum 30 year term for any loan or guarantee made under this Act.

Permits each Bank Board to require security for such loans or guarantees. Sets forth other general terms and conditions of financial assistance under this Act.

Authorizes the Bank Board of the Bank involved at any time to inspect and copy all financial records and documents of a loan applicant or recipient. Grants access to all facilities and properties of such applicant or recipient.

Terminates such Banks 30 years after enactment of this Act. Prohibits any Bank from making any commitments to provide new or increased financial assistance later than 10 years after enactment of this Act.

Requires each Bank to make annual reports to the Regional Development Bank Authority with respect to such fiscal year.

Authorizes appropriations.

Title II: National Recovery and Investment Planning - Subtitle A - National Recovery and Investment Board - Establishes as an independent agency of the United States the National Recovery and Investment Board which shall have its offices in the District of Columbia.

Declares that it is the function of the Recovery Board to: (1) advise Congress with respect to the timely response to economic emergencies and the establishment of policies and programs to deal with such emergencies; (2) prepare and submit to Congress a national recovery and investment plan; and (3) develop criteria for the anticipation of the onset of any economic emergency that will require the Board to submit an additional plan.

Sets forth the membership of the Recovery Board.

Requires the Recovery Board to report annually to the President and the Congress on its activities during the preceding fiscal year.

Establishes the Congressional Economic Advisory Committee, and the Council of States Advisory Committee. Requires such committees to advise the Recovery Board with respect to economic conditions in the United States and the development and implementation of the national economic recovery plan.

Authorizes appropriations.

Subtitle B - National Recovery and Investment Plan - Directs the Recovery Board to develop within 30 days after the enactment of this Act, a national economic recovery and investment plan to provide for the establishment of specified programs. Requires submission of such plan to the President pro tempore of the Senate and the Speaker of the House.

Requires each House of Congress to refer such recovery plan to a special committee which shall have exclusive jurisdiction with respect to such plan. Requires each such committee to report a bill designed to enact into law the provisions of such plan, with such deletions, additions, or other revisions as are agreed to by a majority of its members.

Requires a vote to be taken in each House not later than seven days after such bill is reported. Declares that if the bill is disagreed to in either House it shall be referred back to committee.

Provides that in the event of a conference, the conference committee shall report such bill to the two Houses not later than seven days after the conference is requested and agreed to.