Intergovernmental Antirecession Assistance Act

Intergovernmental Antirecession Assistance Act - Amends the Public Works Employment Act of 1976 to revise the authorization for appropriations to maintain State and local services by (1) altering the formula for determining the amount of such authorization for each calendar quarter; (2) extending such authorization five years; (3) eliminating the maximum aggregate amount which may be authorized to be appropriated for the five calendar quarters beginning July 1, 1976; and (4) setting a maximum aggregate amount which may be authorized to be appropriated with respect to fiscal years succeeding such period.

Revises the period for determining the allocation of funds appropriated for the purpose of maintaining State and local services.

States that principles used by the Bureau of the Census rather than those used by the Social and Economic Statistics Administration, shall be used in determining whether a government qualifies as a "Local Government" for purposes of such assistance.