State and Local Fiscal Assistance Amendments

[AI summary unavailable — showing source text] State and Local Fiscal Assistance Amendments - Revises the State and Local Fiscal Assistance Act in order to allow the Secretary of the Treasury to reserve such percentage of the total entitlement payment as he deems necessary to insure that there will be sufficient funds available to pay adjustments due after the final allocation of funds among the State governments and units of local government. Restricts the use of funds received by the local governments to local priority expenditures, including public safety, environmental protection, and other enumerated areas. Specifies minimum expenditure and other restrictions upon the use of such funds. Makes authorizations to the Trust Fund in amounts as specified. Revises the formula to be used in allocating funds between State and local governments. Indicates circumstances for which State and local governments shall have their entitlement reduced. Provides supplemental entitlements for low income communities. Sets forth procedures which must be adopted by State and local governments before allocation of funds shall be made pursuant to this Act. Provides that such procedures shall include citizen participation in the decision-making proc…