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PUBLIC LAW 93-618-JAN. 3, 1975

2037

this paragraph, a Council for each trade impacted area in which one or more communities are certified under section 271. Such Council shall— (A) develop a proposal for an adjustment assistance plan for the economic rejuvenation of certified communities in its trade impacted area, and (B) coordinate community action under the adjustment assistance plan, as approved by the Secretary. If an appropriate entity for purposes of performing the functions specified in subparagraphs (A) and (B) already exists in such area, then the Secretary may designate such entity as the Council for such area. (2) Such Council shall include representatives of certified communities, industry, labor, and the general public located in the trade impacted area covered by the Council. (c) Upon application by a Council established under subsection (b), the Secretary is authorized to make grants to such Council for maintaining an appropriate professional and clerical staff. No grant shall be made to a Council to maintain staff after the period which ends 2 years after the date on which such Council is established or designated. (d) A Council established under this section may file an application with the Secretary for adjustment assistance under this chapter. Such application shall include the Council's proposal for an adjustment assistance plan for the communities in its trade impacted area. SEC. 273. PROGRAM BENEFITS.

19 USC 2373.

(a) Adjustment assistance under this chapter consists of— (1) all forms of assistance, other than loan guarantees, which are provided to a redevelopment area under the Public Works and Economic Development Act of 1965, and 42 USC 3121 (2) the loan guarantee program described in subsection (d). "°*^' (b) No adjustment assistance may be extended to any community or person in a trade impacted area under this chapter unless the Secretary approves the adjustment assistance plan submitted to him under section 272(d). (c) For purposes of the Public Works and Economic Development Act of 1965— (1) a trade impacted area for which an adjustment assistance plan has been approved under section 272(d) shall be treated as a redevelopment area, except that—• (A) no loan guarantees may be made to any person under such Act; and (B) no loan or grant may be made to any recipient in such an area after September 30, 1980, and (2) approval of an adjustment assistance plan submitted under section 272(d) shall be treated as approval of an overall economic development program under section 202(b) (10) of such Act.

(d) The Secretary is authorized to guarantee loans for— (1) the acquisition, construction, installation, modernization, development, conversion, or expansion of land, plant, buildings, equipment, facilities, or machinery, and (2) working capital, made to private borrowers by private lending institutions in connection with projects in trade impacted areas subject to the same terms and conditions to which loan guarantees are subject under section 202 of the Public Works and Economic Development Act of 1965, including record and audit requirements and penalties, except that - -

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42 USC 3142.

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