A bill to amend the Public Works and Economic Development Act of 1965 in order to assist industry and employees in complying with environmental protection programs.

Directs the Administrator of the Environmental Protection Agency, under the Public Works and Economic Development Act, to initiate an investigation of any employment loss resulting from the issuance of a standard or order under the Federal Water Pollution Control Act, the Clean Air Act, or any other Federal law having for its primary purpose the improvement of environmental quality.

Requires the owner or operator of any commercial or industrial facility seeking assistance under the Public Works and Economic Development Act, or alleging that an employment loss at any facility under his control will result from the enforcement of an order or standard for the protection of environmental quality, to submit to the Administrator a report disclosing specified information, including: (1) his plans to comply, including a description of the technology necessary for compliance and its cost; (2) the extent of potential employment loss; and (3) alternatives to the potential employment loss.

Authorizes the Secretary of Labor to provide assistance to individuals classified as unemployed as a result of economic environmental effects.

Authorizes to be appropriated $100,000,000 for carrying out the above purposes.

Authorizes the Secretary to make loans to aid in financing any project in the United States for the acquisition, construction, or alteration of pollution control facilities (including machinery and equipment) for industrial or commercial usage. Specifies the terms of such assistance. Authorizes to be appropriated $100,000,000 per fiscal year for fiscal years 1975, and 1976, to carry out such loans.