Public Works Employment Act

Public Works Employment Act - Title I: Local Public Works Capital Development and Investment Act - Authorizes the Secretary of Commerce, acting through the Economic Development Administration, to make grants to any State or local government for local public works projects, including but not limited to: (1) those public works projects of State and local governments for which Federal financial assistance is authorized under provisions of law other than this Act; and (2) the architectural design, engineering, and related planning of local public works projects.

Stipulates that the Federal share of any project for which a grant is made under this Act shall be 100 percent of the cost of such project.

Authorizes the Secretary to make an additional grant for the purpose of increasing to 100 percent the Federal contribution to a public works project for which Federal financial assistance is authorized under provisions of law other than this title.

Stipulates that no such grants shall be made for any project which has as its principal purpose the channelization, damming, dredging, or diversion of a natural watercourse, or the enlargement of any canal other than a canal designated as a historic site.

Directs the Secretary to prescribe those rules, regulations, and procedures necessary to carry out this Act. Lists factors that the Secretary shall consider in accordance with the relative needs of the various sections of the country, with priority consideration to those areas where unemployment exceeds the national average.

Stipulates that not less than one-half of one percent nor more than ten percent of all amounts authorized under this title shall be allocated for local public works projects within any one State.

Authorizes the appropriation of $2,500,000,000 through fiscal year 1977 in order to carry out this title.

Title II: - Amends the Public Works and Economic Development Act of 1965 to impose the following limitations on appropriations for the purpose of making and guaranteeing loans, purchasing evidences of indebtedness, or paying interest subsidies under the Act: $55,000,000 for fiscal year 1974, $75,000,000 for fiscal year 1975, and $200,000,000 for fiscal year 1976.

Authorizes the payment of interest subsidies of an amount sufficient to reduce the interest paid on guaranteed loans of up to four percentage points.

Repeals the authority of the Secretary of Commerce to initiate job opportunities programs in eligible areas. Prescribes additional criteria for selection of such programs for Federal funding, including such additional factors as the ability to create and maintain productive employment of a permanent nature without continued Federal funds.

Directs the Secretary of Commerce to give priority consideration in the job opportunities program to those areas where unemployment exceeds the national average. Stipulates that not less than one-half of one percent nor more than 15 percent of all amounts authorized for the program shall be allocated to any one State.

Authorizes States and localities to submit proposals for job opportunities programs in eligible areas. Directs the Secretary to give priority consideration to those projects originally sponsored by States and localities.

Repeals limitations on the use of funds for job opportunities programs where non-labor costs exceeded 25 percent.

Authorizes the appropriation of $1,000,000,000 for fiscal year 1976 for the job opportunities program, subject to the requirement that no further obligation of funds may be made if the national average rate of unemployment falls below 6.5 percent for three consecutive months.

Stipulates that programs originally approved for Federal funds shall not become ineligible for continued assistance under the job opportunities program solely because of increased construction costs.

Authorizes the appropriation of $1,417,968,050 for fiscal year 1977 in the form of construction grants for treatment works as provided for in the Federal Water Pollution Control Act. Specifies a formula for the allotment of such funds to the States. Directs the Administrator of the Environmental Protection Agency to report to Congress with recommendations for a more equitable allotment formula within 45 days from the enactment of such provision.