Within the executive branch, no one agency is responsible for the oversight and supervision of government corporations. That said, the Government Corporation Control Act of 1945, as amended, does provide for the standardized budget, auditing, debt management, and depository practices for those corporations listed in the act. The use of separate acts to charter each corporation has resulted in wide variance in the legal and organizational structure of government corporations. Each government corporation is chartered through an act of Congress. The federal government does not possess a general incorporation statute as states do. Postal Service and the Federal Deposit Insurance Corporation, to small, low-visibility corporate bodies, such as the Federal Financing Bank in the Department of the Treasury and Federal Prison Industries in the Department of Justice. Today’s government corporations cover the spectrum in size and function from large, well-known entities, such as the U.S. The government corporation model has been utilized by the federal government for over a century. 1698), and a National Infrastructure Development Bank (H.R. Similarly, in the 111th Congress, government corporations bills included ones that would have created an Indian Development Finance Corporation (H.R. infrastructure by establishing government corporations-H.R. At the time of publication of this report, two bills had been introduced in the 112th Congress to improve U.S. In the typical contemporary Congress, several bills are introduced to establish government corporations. By this definition, currently there are 17 government corporations. As defined in this report, a government corporation is a government agency that is established by Congress to provide a market-oriented public service and to produce revenues that meet or approximate its expenditures. To assist Congress in its oversight activities, this report provides an overview of the government corporation as an administrative model.
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