A bill to amend and extend title VII of the Comprehensive Employment and Training Act.

[AI summary unavailable — showing source text] Amends the Comprehensive Employment and Training Act to revise the formulas for the allocation of funds under title VII (Private Sector Opportunities for the Economically Disadvantaged). Requires that ten percent of such funds be used by the Secretary of Labor to provide incentive bonuses to prime sponsors who promote coordination with economic development activities supported by Federal, State, or local funds. Prohibits taking funds used for such coordinated activities into account in the computation of cost per participant or cost per placement for purposes of program evaluation. Authorizes appropriations to carry out title VII for fiscal years 1981 through 1984. Includes local economic development councils established under the Public Works and Economic Development Act of 1965 among those entities: (1) to which a proposed plan for activities must be made available by those receiving title VII assistance; and (2) from which prime sponsors receiving such assistance must appoint members to a private industry council.…