A bill to amend the Public Works and Economic Development Act of 1965 to allow the use of appropriated funds beginning on the date of a disaster declaration.

Amends the Public Works and Economic Development Act of 1965 to allow the use of any funds appropriated which are available for use with respect to any major disaster to be expended by any Federal, State, or local authority receiving such funds for any loan, grant, or other authorized activity beginning on the date of the declaration of such disaster.