A bill to amend the District of Columbia Self-Government and Governmental Reorganization Act to provide for a Federal payment to the District of Columbia for each fiscal year beginning with fiscal year 1979 in an amount equal to forty percent of the amount of the revenues of the District of Columbia during such year from all sources other than receipts from the United States and general obligation bonds.

Amends the District of Columbia Self-Government and Governmental Reorganization Act to provide for a Federal payment to the District of Columbia for each fiscal year beginning with fiscal year 1979 in an amount equal to 40 percent of the amount of the revenues of the District of Columbia during such year from all sources other than receipts from the United States and general obligation bonds.

Requires payment on October 1 of each fiscal year, and computation based upon estimates of revenues to be received by the District of Columbia during such year.