State Minimum Return Act of 1984

State Minimum Return Act of 1984 - Directs the head of each Federal agency to reallocate Federal expenditures, with specified exceptions, to States having a Federal expenditure to Federal tax ratio of less than 100 percent as necessary to ensure that by the end of FY 1989 each State receives in any fiscal year Federal expenditures equal to at least 90 percent of the Federal tax burden imposed on such State for such year.

Directs each agency to: (1) attempt to increase the national share of procurement contracts awarded to qualified firms in each such State by ten percent per fiscal year; and (2) report to the Director of the Office of Management and Budget at the end of each year on the percentage increase achieved and the reasons for not achieving a ten percent increase, if applicable. Requires the Director to report to Congress on the progress made during each fiscal year on increasing the share of procurement contracts the preponderance of the value of which has been performed in such States. Requires that each State with a Federal expenditure to Federal tax ratio of less than 90 percent for any fiscal year receive 110 percent of the average percentage share of all other Federal expenditures received by such State during the most recent three fiscal years.

Prohibits any reallocation of expenditures which will reduce: (1) the expenditures under any program to a State by ten percent or more in a fiscal year; or (2) the Federal expenditure to Federal tax ratio of any State below 90 percent.

Prohibits any reallocation of expenditures from resulting in any State or other governmental unit reducing benefits to ultimate beneficiaries or changing eligibility requirements under any program which results in direct payments to individuals and which involves an income test to determine an individual's eligibility for assistance.