A bill to amend the Housing and Community Development Act of 1974 to provide supplementary community development block grant assistance to communities with high unemployment due to adverse national economic conditions.
Countercyclical Community Development Employment Assistance Act - Authorizes the Secretary of Housing and Urban Development to make grants to any State, metropolitan city, or urban county which meets the requirements of a community development program as specified in the Housing and Community Development Act of 1974.
Authorizes appropriations fo $1,300,000,000 to carry out the provisions of this Act.
Sets forth allocation requirements with respect to the grants. States that in any calendar quarter, 75 percent shall be allocated to metropolitan cities and urban counties, except that the Secretary may establish such percentage as he deems appropriate in view of unemployment and related factors.
Requires that unemployment data, determined by the Secretary of Labor, shall be utilized to establish the supplementary grant amounts which will be distributed in any calendar quarter. Stipulates that any metropolitan city or urban county which has been allocated supplementary grant assistance shall submit an application which outlines the proposed job intensive use and demonstrates that the use is consistent with the recipient's community development program.
Introduced in House
Introduced in House
Referred to House Committee on Banking, Currency and Housing.
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