To provide immediate fiscal relief to cities experiencing serious budget deficits by providing funds for payments to qualified local governments.

Directs the Secretary of the Treasury to pay to each local government having jurisdiction under state law over an area having a population of 1 million or more an amount of the appropriations under this Act (proportional to the population of the area) to improve public safety, clean and maintain streets, and preserve services benefitting children and youth, as otherwise authorized by state and local law.