Solar Energy Development Bank Act
Latest action. Measure indefinitely postponed in Senate.
(Reported to Senate from the Committee on Banking, Housing and Urban Affairs with amendment, S. Rept. 96-374) Solar Energy Development Bank Act - Establishes a Government corporation within the Department of Housing and Urban Development to be known as the Solar Energy Development Bank to make below-market interest rate loans to promote the use of solar energy in commercial and residential structures. Provides for a presidentially-appointed President of the Bank. Requires the General Accounting Office to periodically audit the Bank's financial transactions. Authorizes the Bank to impose fees for its services. Provides that the Bank shall be governed by a Board of Directors and sets forth the powers and duties of such Board, including the power to fix the level of subsidy on loans and interest rates. Stipulates that interest rates paid by borrowers on such loans shall not be set at less than six percentage points below the current maximum interest rate on certain mortgages insured under the National Housing Act. Prohibits specified conflicts of interest on the part of officers or employees of the Bank. Establishes an Advisory Board to make annual reports to Congress and the President on the operation of the program established by this Act. Sets forth requirements for loan eligibility concerning the term and amount of the loan and necessary warranties for the solar energy systems covered by such loan. Authorizes the making of such loan subsidies to units of local government on behalf of low-income persons for projects carried out under other housing or rehabilitation programs. Imposes criminal penalties for the furnishing of false or misleading information by applicants for loans under this Act. Directs the Bank to conduct a program to promote the benefits of its loan subsidy program. Authorizes the appropriation of up to $50,000,000 for fiscal year 1980, $150,000,000 for fiscal year 1981, $225,000,000,000 for fiscal year 1982, $300,000,000 for fiscal year 1983, and $400,000,000 for fiscal year 1984.
Written by analysts at the Congressional Research Service and published on Congress.gov, not by Civibrief. Summarized at the "Reported to Senate with amendment(s)" stage on October 17, 1979. It describes the bill, it is not the legal text.
Measure indefinitely postponed in Senate.
Civibrief does not map this action to a stage in the process. See the official record.
Where is it in the process, and what happens next?
The latest action on file does not map to a stage Civibrief recognizes, so the page will not name one. The record's own words are the reliable fact here.
The record's latest action, on July 2, 1980: Measure indefinitely postponed in Senate.
How likely is it to become law?
Civibrief does not forecast outcomes and this page has no opinion about this one. What the record supports is a base rate, which is a fact about the whole pile, not a prediction about this measure.
In the 96th Congress (1979-80), 613 of the 12,581 bills and joint resolutions introduced became law, about 4.9 percent. That count covers every measure at every stage, including the many that never left committee.
This one has no outstanding steps listed above.
Has anyone actually voted on it?
No. No roll call in this Congress cites this measure. That is the ordinary outcome: most measures never reach a recorded floor vote, and a committee ends most of them simply by not acting.
A vote is not the only thing that happens to a measure. Hearings, markups, and referrals are all recorded actions, and none of them is a vote of the full chamber.
Who is behind it?
ROBERT MORGAN (D-NC) introduced it on September 5, 1979, and 2 members have since signed on as cosponsors.
They are 2 Democrats.
Cosponsoring is a formal signature on the text. It is not a commitment to vote for the measure, it does not bind anyone's party, and a long list of cosponsors is a measure of attention rather than of prospects.
How long has it been in play?
It was introduced on September 5, 1979, 17219 days ago. The most recent recorded action was 16918 days ago, on July 2, 1980.
Measures do not carry over. Anything the 96th Congress has not finished by January 3, 1981 dies when the term ends, and has to be introduced again from the start in the next Congress.
Every answer above is assembled from this measure's own record on Congress.gov and from published counts of what Congress has passed before. Civibrief does not predict outcomes and takes no position on any measure.
Vote history
- SenateMeasure indefinitely postponed in Senate.
- HouseNot stated in the latest action
- PresidentNot stated in the latest action