Economic Adjustment Act

[AI summary unavailable — showing source text] Economic Adjustment Act - Declares that it is the purpose of this Act to extend the Public Works and Economic Development Act of 1965 for one year in order to provide an orderly transition to an economic adjustment assistance program, and to establish an economic adjustment assistance program to help States and local governments to deal more effectively with problems resulting from changes in economic conditions. Defines the terms used in this Act. Title I: Transition - Authorizes transitional appropriations under the Public Works and Economic Development Act of 1965. Title II: Economic Adjustment Assistance Program - Enumerates the objectives of this title and the purposes for which funds provided by this title may be used, including: (1) for assistance for public facilities, public services, business development, planning, research, technical assistance, and such other economic adjustment purposes; and (2) by public entities, private profitmaking and nonprofit enterprises, organizations, and individuals. Authorizes to be appropriated $100,000,000 for fiscal year 1975 and such sums as may be necessary for the four succeeding fiscal years. Provides for the allocation of such funds …