A bill to amend the District of Columbia Self-Government and Governmental Reorganization Act with respect to the borrowing authority of the District of Columbia.

Extends until October 1, 1979 the time in which the Secretary of the Treasury of the United States may make and the Mayor of the District of Columbia can accept loans for the completion of capital projects.

Permits the making of such loans only to the extent they are provided for in appropriation Acts for any fiscal year.

Extends from November 1 to February 1 of any fiscal year the time in which the Mayor must submit a complete financial report to the Council.

Stipulates that payments required to be made because of the issuance of authorized bonds, votes, or other obligations shall be made without further authorization or approval.