Commuter Emergency Relief Act

[AI summary unavailable — showing source text] Commuter Emergency Relief Act - Authorizes the Secretary of Transportation to make grants to States and local public bodies and agencies to assist in paying the yearly interest on, and discharging annual obligations on, instruments of indebtedness which have been incurred in the construction, operation, and maintenance of urban mass transportation. Provides that grants may be made when the Secretary determines that it is essential to keep a significant part of a community's transportation service running or that many low-income people would be adversely affected by a breakdown in public transportation. Limits grants to amounts no more than twice the amount provided by the applicant. Authorizes $75,000,000 for each of the fiscal years 1972-1976. Allows the Secretary to make interim grants to States and local agencies to defray operating deficits of mass transit systems. Requires for approval that the Secretary determine that the transit system involved is necessary to carry out a development program in mass transit and that the applicant has submitted a plan for improving the area's mass transit system. Requires each applicant to provide funds equal to half the Federal contributions…