A bill to amend the Public Works and Economic Development Act of 1965 to extend the authorizations for a 3-year period.

(Reported to House from the Committee on Public Works and Transportation with amendment, H. Rept. 94-1075)

Public Works and Economic Development Act Amendments - Amends the statement of purpose provisions of the Public Works and Economic Development Act of 1965 to state that assistance provided under such Act should be made available to both rural and urban areas; that such assistance be provided for economic planning; and that it be used for long-term economic rehabilitation.

Removes from title I (Grants for Public Works and Development Facilities) of such Act the restriction on financial assistance to public service or development facilities which would compete with existing private utilities.

Changes from discretionary to mandatory the authority in such title of the Secretary of Commerce to reduce the State or local matching share of supplemental grants for public works and development facilities.

Continues through fiscal year 1979 the authorization of allocation of $30,000,000 of appropriations under such title for operation of health projects funded under such title. Extends the authorization of appropriations under such title through fiscal year 1979, and requires at least 25 percent, but not more than 35 percent of such appropriations to be expended in redevelopment areas designated under such Act.

Permits increases in grants for construction under such title where construction costs increase. Sets limitations through fiscal year 1979 on appropriations for making and guaranteeing loans and paying interest on behalf of private entities under title II (Other Financial Assistance) of such Act for public works and development facilities and for the purchase or development of land and facilities for industrial or commercial usage. Permits assistance to industrial or commercial activities within redevelopment areas under such title through payment of those debts with respect to which a lien against property has been legally obtained.

Extends the authorization of appropriations through fiscal year 1979 under title III (Technical Assistance, Research, and Information) of such Act for technical assistance and economic development planning. Extends through fiscal year 1979 authorization of appropriations for supplemental grants or loans to those authorized under titles I, II, III, and IV of such Act.

Extends the authorization of appropriations through fiscal year 1979 under title IV (Area and District Eligibility) of such Act for specified assistance for economic development centers for increasing the amount of grant assistance for public works and development facilities, and for assistance to Indian tribes.

Directs the Secretary, under such title, to designate as a "redevelopment area" any city of 50,000 or more in population which has a large concentration of low-income persons, substantial out-migration, substantial unemployment or underemployment, an actual or threatened abrupt rise in unemployment due to curtailment of a major source of employment, or long-term economic deterioriation. Authorizes the Secretary to make grants to such cities to carry out approved overall economic development programs. Requires the Secretary to report annually to the Congress on such assistance. Authorizes the appropriation of $200,000,000 annually through fiscal year 1979 for such assistance.

Defines "Federal grants-in-aid programs," for purposes of the provisions of title V (Regional Action Planning Commissions) of such Act relating to supplements to Federal grant-in-aid programs, as follows: those Federal grant-in-aid programs authorized on or before September 30, 1979, by such Act and other Acts for the acquisition or development of land, the construction or equipment or facilities, or other community or economic development or economic adjustment activities. Extends the authorization of appropriations for such supplemental assistance under such title through fiscal year 1979.

Removes the restriction on assistance under such Act for the financing of electrical energy or gas facilities.

Authorizes grants, under title IX (Special Economic Development and Adjustment Assistance) of such Act, to eligible areas which have demonstrated long-term economic deterioration, and particularly to such areas which had an unemployment rate in excess of the national average for six of the preceeding 12 months or which have 15 percent of the population below the poverty level. Extends the authorization of appropriations through fiscal year 1979 to carry out such title.

Provides that no area designated as a redevelopment area under such Act shall have such designation terminated or modified before September 30, 1979, unless the local governing body requests de-designation.