A bill to provide economic adjustment assistance to communities in which military facility closings have caused economic injury to the community.
Community Economic Adjustment Assistance Act - Declares it to be the finding of Congress that: (1) reduction, relocation, and closing of military facilities places heavy economic burdens on the communities affected; and (2) it is essential that the Federal Government provide such communities with short-term adjustment assistance.
Sets forth the eligibility requirements and application procedure for communities seeking adjustment assistance under this Act.
Directs the Secretary of Commerce to provide to a community technical assistance which will contribute to the economic adjustment of the community.
Provides for direct financial assistance to communities receiving technical assistance. Sets forth the schedule for amounts of financial aid. Authorizes to be appropriated not more than $500,000,000 to carry out this Act.
Introduced in House
Introduced in House
Referred to House Committee on Banking and Currency.
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