A bill to amend the Public Works and Economic Development Act of 1965 to extend the authorizations for a 2-year period.

Summary

Extends the appropriations provisions of the Public Works and Economic Development Act through fiscal year 1976. Deletes the provisions of such Act regarding additional grants to areas of substantial unemployment during the preceding year from title I (Grants for Public Works and Development Facilities) of such Act. Limits the amount of loans for public works and development facilities and for business and business loan guarantees to $60,000,000 for fiscal years 1975 and 1976. Authorizes financial aid within a redevelopment area for the purcahse or development of land and facilities for industrial or commercial usage, and for any industrial or commercial activity. Authorizes grants to State, or sub-State economic adjustment planning organizations for administrative and planning activities. Authorizes appropriations of $60,000,000 for fiscal years 1975 and 1976 for technical assistance, research and information activities under this Act. Requires economic development districts under such Act to provide copies of their overall economic development programs to the appropriate regional commissions. Extends through fiscal year 1976 appropriations authorization for economic development centers and increases grants for redevelopment area projects. Extends appropriations authorization through fiscal year 1976 for supplements to Federal grant-in-aid programs. Requires coordination between the Secretary of Health, Education, and Welfare and such regional commissions in making grants and loans and providing technical assistance under this Act. Extends through fiscal year 1976 the Public Works and Economic Development Act of 1965, as amended. Authorizes the Secretary to make grants to any eligible recipient which has experienced, or may reasonably be foreseen to be about to experience, a special need to meet an expected rise in unemployment, or other economic adjustment problems (including those caused by any action or decision of the Federal Government) and which submits a plan meeting the requirements of this Act. Allows such grants to be used for: (1) public facilities, public services, business development, planning, research, and technical assistance; (2) redistribution by the eligible recipient in loans and loan guarantees to private profitmaking entities; and (3) redistribution by the eligible recipient in payments to individuals for unemployment assistance as described in this Act and for training or relocation assistance. Authorizes appropriation for such grants of an amount per fiscal year not to exceed 20 percent of the amount appropriated for the purposes of titles I through V of the Public Works and Economic Development Act for such fiscal year.

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1 official file

• Introduced in House

  summary · EN · 20 May 1974

  Open at official source

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