A bill to amend the Public Works and Economic Development Act of 1965 to reauthorize the Economic Development Administration for fiscal years 1983, 1984, and 1985, and for other purposes.

Title I: Public Works and Economic Development - 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.

Declares that the Federal share of the cost of any such project for which a direct grant is made shall be the percentage determined either: (1) from the unemployment rate for the political subdivision where the project is located; or (2) from the percentage by which the per capita income for such political subdivision is below the national average, whichever results in the higher Federal share. Sets forth a table by which the Federal share shall be determined.

Eliminates the Secretary of Commerce's authority to reduce or waive the non-Federal share of a project in the case of a grant to an Indian tribe or a project in a redevelopment area. Permits supplementary grant funds to be used only for projects in political subdivisions that are eligible for assistance under such Act. Prohibits the total amount of direct and supplementary grants for any project from exceeding 100 percent of the costs of such project.

Authorizes appropriations through FY 1985 to carry out such grants for public works and development facilities.

Subjects public works and development facility loans to specified limitations on business loan assistance as set forth by this Act.

Authorizes appropriations through FY 1985 to carry out business loans and loan guarantees under such Act. Limits the annual appropriations for the purpose of purchasing evidences of indebtedness and guaranteeing loans.

Terminates business loans and loan guarantees to redevelopment areas and authorizes such assistance to political subdivisions eligible for assistance under such Act.

Provides for interest free loans to political subdivisions (previously redevelopment areas) eligible for assistance under such Act if a plan for redevelopment of the political subdivision is approved. Requires any such interest free loan to be repaid to the United States by the political subdivision receiving such loan in accordance with the terms of the loan agreement.

Authorizes appropriations through FY 1985 to carry out the interest free loan program.

Sets forth a formula for determining the amount of a business loan under such Act. Prohibits any applicant from receiving a business loan unless such applicant first pays an amount equal to one percent of the amount of the loan.

Declares that such limitations shall not apply to interest subsidy contracts or agreements entered into by the Secretary of Commerce before the effective date of this Act.

Makes any funds appropriated for fiscal years beginning after September 30, 1982, which are authorized by the Public Works and Economic Development Act of 1965, available to the Secretary of Commerce to make payments under interest subsidy contracts or agreements entered into by the Secretary under such Act before the effective date of this Act.

Permits the Secretary to provide technical assistance which would be useful in alleviating or preventing conditions of excessive unemployment or underemployment to: (1) political subdivisions eligible for assistance under such Act; and (2) other political subdivisions which he finds have substantial need for such technical assistance.

Excludes redevelopment areas from assistance for economic development planning. Directs such assistance to political subdivisions.

Authorizes appropriations through FY 1985 for technical assistance and economic development planning.

Redefines the eligibility of areas for assistance to make a political subdivision eligible for assistance in any period in which the Secretary of Labor finds that the current rate of unemployment for such political subdivision is five percent or more.

Repeals the provisions of such Act which provided for an annual review of area eligibility and for Indian economic development.

Directs the Secretary of Commerce, acting through the Administrator for Economic Development, to establish in the Economic Development Administration an Office of Program Evaluation to conduct assessments for each fiscal year of the effectiveness of the programs carried out under such Act.

Authorizes appropriations to carry out miscellaneous provisions of such Act through FY 1985.

Repeals the provisions of such Act which provided for: (1) an extension of benefits made available under other Federal programs; (2) assistance to disaster areas; and (3) the job opportunities program.

Authorization appropriations for special economic development and adjustment assistance through FY 1985.

Title II: Amends the Appalachian Regional Development Act of 1965 to authorize appropriations for the purposes of the Appalachian Regional Commission through FY 1985.

Title III: Declares that the amendments and repeals made by this Act shall take effect on October 1, 1982.

Declares that the authority to enter into contracts under the amendments made by this Act shall be effective for any fiscal year only to such extent or such amounts as are provided in appropriation Acts.