Page:United States Statutes at Large Volume 93.djvu/1356

 93 STAT. 1324

PUBLIC LAW 96-185—JAN. 7, 1980

Public Law 96-185 96th Congress An Act —

• ' — [H.R. 5860]

Chrysler

To authorize loan guarantees to the Chrysler Corporation.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled.

Corporation Loan Guarantee Act of 1979.

15 USC 1861 note.

SHORT TITLE

1. This Act may be cited as the "Chrysler Corporation Loan Guarantee Act of 1979". SECTION

DEFINITIONS

15 USC 1861.

29 USC 152.

SEC. 2. For purposes of this Act— (1) the term "Board" means the Chrysler Corporation Loan Guarantee Board established by section 3; (2) the term "borrower" means the Chrysler Corporation, any of its subsidiaries or affiliates, or any other entity the Board may designate from time to time which borrows funds for the benefit or use of the Corporation; (3) the term "Corporation" means the Chrysler Corporation and its subsidiaries and affiliates; (4) the term "financing plan" means a plan designed to meet the financing needs of the Corporation as reflected in the operating plan and indicating in accordance with the requirements of section 8 the amounts to be provided at dates specified (for each year of the plan) from internally generated sources (including earnings and cost reduction measures), from loans guaranteed under this Act, and from nonfederally guaranteed assistance as required pursuant to section 4(a)(4); (5) the term "fiscal year" means the fiscal year of the Corporation; (6) the term "going concern" means a corporation the net earnings of which, as projected in the plan required under section 4(a)(3), are determined to be sufficient to maintain longterm profitability after taking into account probable fluctuations in the automobile market, and which meets such other tests of viability as the Board shall prescribe; (7) the term "labor organization" has the same meaning as in section 2 of the Natonal Labor Relations Act; (8) the term "operating plan" means a document detailing production, distribution, and sales plans of the Corporation, together with the expenditures needed to carry out those plans (including budget and cash flow projections), on an annual basis, a productivity improvement plan setting forth steps to be taken by the Corporation and its workers to achieve a higher productivity growth rate, and an energy efficiency plan setting forth steps to be taken by the Corporation to reduce United States dependence on petroleum, in accordance with section 4(a)(3);

�