A bill to amend the Public Works and Economic Development Act of 1965 to target economic development assistance to areas which are suffering the most chronic conditions of unemployment, and for other purposes.

Amends the Public Works and Economic Development Act of 1965 to revise eligibility requirements for direct and supplementary grants for public works and development facilities.

Authorizes appropriations for the purposes of such Act for fiscal years 1983 and 1984.

Directs the Secretary of Commerce to give priority consideration to redevelopment areas that have been classified as labor surplus areas by the Secretary of Labor.

Reduces the time period during which the Secretary of Commerce may terminate a designation of area eligibility.

Repeals provisions concerning: (1) Indian economic development; (2) economic recovery assistance for disaster areas; and (3) the job opportunities program.

Redefines "eligible recipient" to exclude Indian tribes.

Amends the Appalachian Regional Development Act of 1965 to authorize appropriations for the purposes of the Appalachian Regional Commission through FY 1984. Extends the provisions of such Act through FY 1984.