A bill to amend the Public Works and Economic Development Act of 1965 to extend the authorizations for a 2-year period.

[AI summary unavailable — showing source text] Provides up to $300,000,000 for each of the fiscal years 1975, 1976, and 1977 under the Public Works and Economic Development Act of 1965. Authorizes up to $30,000,000 for each of fiscal years 1975, 1976, and 1977 for grants for operation of any health or educational project under such Act. Requires the Secretary of Commerce to designate as redevelopment areas under the Act those areas determined by the Secretary of Labor to be areas of substantial unemployment during the preceding calendar year. Extends the authorizations for loans and loan guarantees under the Act for fiscal years 1975, 1976, and 1977. Provides for the guaranteeing of rental payments of leases up to 90 percent of the remaining rental payments required by the lease. Authorizes the Secretary of Commerce to make direct grants to cities or other political subdivisions to pay up to 100 percent of the cost of economic development planning under the Act. Authorizes the Secretary to make grants to the States to provide special economic development and adjustment assistance programs to help State and local areas meet special needs arising from actual or threatened severe unemployment arising from economic dislocation, inc…