Joint resolution to set aside regulations of the Environment Protection Agency under section 206 of the Federal Water Pollution Control Act.

Provides that, notwithstanding the requirements of the Federal Water Pollution Control Act, as amended, applications for grants for construction of treatment works under such Act may be filed with the Administrator of the Environmental Protection Agency until December 31, 1973.

States that funds available for reimbursement shall be allocated pro rata among all eligible projects for which applications have been submitted and approved by the Administrator. Increases the amount available for reimbursement from $2,000,000,000 to $2,600,000,000.

Requires that in no event shall any payment exceed the Federal share of the cost of construction incurred to the date of the voucher covering such payment plus the Federal share of the value of the materials which have been stockpiled in the vicinity of such construction in conformance to plans and specifications for the project.