A bill to amend the Consumer Product Safety Act to extend the authorization of appropriations contained in such Act, and for other purposes.

Amends the Consumer Product Safety Act to extend through fiscal year 1979 the authorization of appropriations for carrying out such Act.

Authorizes the Consumer Product Safety Commission to develop consumer product safety standards on its own without an invitation to entities outside the Commission if the Commission finds that it is in the public interest to do so. Sets forth guidelines to determine when it is in the public interest to develop such standards.