REGULATIONS ON RELATIVE NEEDS AND ALLOCATIONS.

SEC. 204. REGULATIONS ON RELATIVE NEEDS AND ALLOCATIONS. Section 206 of the Public Works and Economic Development Act of 1965 (42 U.S.C. 3146) is amended—(1) in paragraph (1)(C), by striking “and” at the end; (2) in paragraph (2), by striking the period at the end and inserting a semicolon; and (3) by adding at the end the following: “(3)(A) rural and urban economically distressed areas are not harmed by the establishment or implementation by the Secretary of a private sector leveraging goal for a project under this title; “(B) any private sector leveraging goal established by the Secretary does not prohibit or discourage grant applicants under this title from public works in, or economic development of, rural or urban economically distressed areas; and “(C) the relevant Committees of Congress are notified prior to making any changes to any private sector leveraging goal; and“(4) grants made under this title promote job creation and will have a high probability of meeting or exceeding applicable performance requirements established in connection with the grants.”.