A bill to amend the Public Works and Economic Development Act of 1965 in order to establish a regional impact and development assistance program.

Authorizes the Secretary of Commerce, under the Public Works and Economic Development Act, to provide funds to the Federal cochairmen of each economic development region for the purpose of meeting social, economic, or environmental impacts resulting from natural resource development, significant changes in Federal Government policies, programs, or regulations, or significant shifts in employment opportunities, and to achieve regional development objectives identified in comprehensive long-range plans developed under the Act.