Revenue Sharing Amendments

[AI summary unavailable — showing source text] Revenue Sharing Amendments - Extends the appropriations for the State and Local Fiscal Assistance Act through fiscal year 1979. Authorizes appropriations for fiscal year 1979 for State and local government modernization. Provides for a three-year forward authorization of appropriation to the State and Local Government Fiscal Assistance Trust Fund. Revises the formula for allocation of moneys from the Trust Fund to the States. Repeals the provision under such Act for a minimum per capita entitlement for a county area or any unit of local government. Revises the definition of terms applicable to allocation formulas, including the revision of the terms "income factor" and "population"; and changes the rules for determination of the general tax effort factor of States, counties, and units of general local government. States the conditions for qualification for additional entitlements of States for modernization of State and local governments, including submission of a timetable and master plan for such modernization by the State Governor. Directs the Secretary of the Treasury to report to the Congress on the operation of the Trust Fund on or before January 15 of each year. Requires Sta…