Public Works and Economic Development Act Amendments

Public Works and Economic Development Act Amendments - Authorizes the Secretary of Commerce, where he determines that an applicant for a project grant for a redevelopment area under the Public Works and Economic Development Act of 1965 is unable to immediately contribute the full amount of the required non-Federal share, to waive or reduce the non-Federal share.

Authorizes appropriations for the Act, not to exceed $1,000,000,000 for fiscal year 1973, and for each fiscal year through 1978.

Authorizes to be appropriated $100,000,000 annually for fiscal years 1973-1975, for grants for the acquisition or development of land and improvements for mass transportation facility usage in connection with projects in redevelopment areas. Authorizes additional appropriations of $50,000,000 annually for fiscal years 1973-1975 for grants to development areas.

Increases appropriations to $350,000,000 annually for fiscal years 1973 through 1978 for public works and development facility loans and for business loans. Specifies business loans which the Secretary may guarantee under this section. Prescribes the terms and conditions for loan assistance under this section.

Authorizes appropriations of $100,000,000 annually for fiscal years 1973 through 1978 for technical assistance in alleviating unemployment in redevelopment areas. Provides for assistance to redevelopment areas impacted by rural migration.