Pub. L. 94-487, tit. I, sec. 121

Sec. 121. (a) Section 901 of the Public Works and Economic Development Act of 1965 (42 U.S.C. 3241) is amended by inserting “(including long-term economic deterioration)” immediately after “economic conditions”. (b) Section 903(a)(1) of such Act (42 U.S.C. 3243) is amended— (1) by inserting “(A)” immediately before “which the Secretary”; (2) by inserting “, or (B) which the Secretary determines has demonstrated long-term economic deterioration,” immediately after “Federal Government)”; (3) by inserting “and businesses” immediately after “relocation of individuals”; and (4) by striking out “and other appropriate assistance.” and inserting in lieu thereof the following: “and other assistance which demonstrably furthers the economic adjustment objectives of this title.”. (c) Section 903(a)(2)(A) of such Act is amended by inserting immediately after “loan guarantees,” the following: “payments to reduce interest on loan guarantees,”. (d) Section 905 of such Act (42 U.S.C. 3245) is amended by striking out the period at the end thereof and inserting in lieu thereof the following; “, not to exceed $25,000,000 for the transition quarter end-90 STAT. 2337ing September 30, 1976, and not to exceed $100,000,000 per fiscal year for the fiscal years ending September 30, 1977, September 30, 1978, and September 30, 1979.”.