A bill to provide that loan guarantees in certain programs shall be limited only by the availability of qualified applicants and limitations in appropriation Acts.

Amends the following Acts to provide that loans guaranteed under them shall be guaranteed in the full amount by the appropriate Secretary, subject only to the availability of qualified applicants and the limitations contained in the appropriation Acts: (1) the Public Works and Economic Development Act of 1965 pertaining to Federal aid in financing industrial or commercial activity within a redevelopment area; (2) the Coastal Zone Management Act of 1972 relating to loans made to coastal States and general purpose local government units for the provision of public facilities and services; (3) the Emergency Rail Services Act of 1970 relating to the Federal guarantee of certificates sought by trustees of any railroad undergoing reorganization under the bankruptcy laws; (4) the Act of September 7, 1957, dealing with guaranteed loans to air carriers; (5) the Railroad Revitalization and Regulatory Reform Act of 1976 relating to the Federal commitment to guarantee the obligations of railroad applicants for the improvement or establishment of new railroad facilities; (6) the Rail Passenger Service Act of 1970 pertaining to Federal loan guarantees on contractual commitments to finance capital equipment and facilities necessary for the improvement of rail passenger service; and (7) the Merchant Marine Act of 1936 regarding the Federal guarantee on obligations incurred for the construction or reconditioning of vessels owned by U.S. citizens for commercial use or research.