A bill to authorize a program of fiscal assistance during economic recessions and to authorize a program of targeted fiscal assistance, and for other purposes.

Summary

Amends the State and Local Fiscal Assistance Act of 1972 to add a fourth title, "Fiscal Assistance During Periods of Recession," which authorizes the Secretary of the Treasury to make payments to State and local governments during calendar quarters in which there is a decline in real wages, salaries, and the gross national product. Authorizes appropriations of up to $1,000,000,000 for such payments made during the calendar quarters of fiscal year 1980. Establishes ceilings on appropriations for each such quarter. Requires one-third of such appropriations to be allocated to State governments and two-thirds to local governments. Sets forth formulas for determining the amount of such allocations to State and local governments. Directs the Secretary to receive assurances from each State and unit of local government before issuing payments that: (1) standard fiscal, accounting, and auditing practices will be used; (2) the Secretary and the Comptroller General will be given access to documents in order to review compliance; (3) reports required by the Secretary will be furnished; (4) the State or unit of local government will comply with provisions of law prohibiting discrimination on the basis of race, color, national origin, age, or handicapped condition; (5) the State or unit of local government will comply with the wage standards under the Davis-Bacon Act; and (6) expenditure of payments received will be in accordance with laws and procedures applicable to a State's or unit of local government's own revenues. Authorizes the Secretary to withhold payments for a failure to comply with requirements of this title. Directs the Secretary to submit annual and quarterly reports to the Congress when payments have been made under such program. Grants the Secretary authority to prescribe rules to implement this Act. Authorizes appropriations as may be necessary for administration of this Act. Authorizes appropriations for such countercyclical payments to Puerto Rico, Guam, and the Virgin Islands. Sets forth a formula for determining the amount of such payments. Permits the governments of the territories to allocate portions of such payments to their local governments as they deem appropriate. Adds a fifth title, "Targeted Fiscal Assistance" which authorizes the Secretary to make additional payments to units of local government experiencing higher rates of unemployment. Authorizes appropriations of $150,000,000 for such payments in fiscal year 1980. Sets forth formulas for determining eligibility and amounts of such payments. Directs the Secretary to receive assurances from each unit of local government identical to those required under title IV before issuing payments. Authorizes the Secretary to withhold payments to enforce compliance. Directs the Secretary to issue such payments by: (1) 90 days from the enactment of appropriations; or (2) April 1, 1980, whichever is earlier. Requires the Secretary to submit an annual report to the Congress on the targeted fiscal assistance program. Empowers the Secretary to promulgate regulations to implement such program. Authorizes necessary appropriations for administrative expenses. Authorizes appropriations and establishes formulas for issuing fiscal assistance payments to Puerto Rico, Guam, and the Virgin Islands. Authorizes the governments of the territories to allocate appropriate portions of such payments to their local governments. Repeals title II of the Public Works Employment Act of 1976.

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Documents

3 official files

• Passed House amended

  summary · EN · 31 January 1980

  Open at official source

• Reported to House with amendment(s)

  summary · EN · 11 December 1979

  Open at official source

• Introduced in House

  summary · EN · 28 November 1979

  Open at official source

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