Profiles of Recent Proposals
GGD-95-57FS: Published: Mar 30, 1995. Publicly Released: May 1, 1995.
Pursuant to a congressional request, GAO provided information on the proposed Bonneville Power Corporation (BPC), the National Petroleum Reserves Corporation (NPRC), the U.S. Air Traffic Services Corporation (USATS), the Federal Housing Administration (FHA), the Presidio Trust, the National Infrastructure Development Corporation (NIDC), the National Infrastructure Insurance Corporation (NIIC), and on the newly created Community Development Financial Institutions Fund (CDFIF), focusing on the corporations': (1) purposes; (2) status and sponsors; (3) management structures; (4) revenue sources and budget; (5) staffing; and (6) statutory and regulatory exemptions.
GAO found that: (1) BPC would assume the Bonneville Power Administration's operations, NPRC would manage and operate national petroleum reserves, USATS would operate the air traffic control system, FHA would provide mortgage insurance, the Presidio Trust would operate the Presidio, NIDC would promote public-private partnership investments in economic projects, and NIIC would provide insurance and reinsurance for certain infrastructure projects; (2) some proposals are still under development while others have yet to pass Congress; (3) corporation sponsors include cabinet officials, representatives, and senators; (4) the corporations' management structures include a single administrator reporting to the relevant cabinet secretary or a board of directors; (5) corporate funding would derive from customers or users, U.S. Treasury or private-sector borrowing authority, and appropriations; (6) in general, the corporations would not be included in the federal budget; (7) staffing for some corporations has not been developed, but some current federal employees would transfer to the new corporations; (8) the corporations would be exempt from various procurement, personnel, and other laws and regulations, but they would be subject to certain modified provisions; (9) Congress has established CDFIF to promote economic revitalization and community development through community development financial institutions; and (10) CDFIF has an administrator and 6 staff, is funded by appropriations, and is exempt from certain laws and regulations.