Page:United States Statutes at Large Volume 90 Part 2.djvu/868

 90 STAT. 2336

Appropriation authorization.

Financial assistance for energy, limitations.

42 USC 3131, 3141.

Appropriation authorization.

PUBLIC LAW 94-487—OCT. 12, 1976 1977, September 30, 1978, and September 30, 1979, to be available until expended, $250,000,000 per fiscal year.". SEC. 119. Section 509(d)(2) of the Public Works and Economic Development Act of 1965 (42 U.S.C. 3188a) is amended by striking out at the end thereof "and for the fiscal year ending September 30, 1977, to be available until expended, not to exceed $5,000,000." and inserting in lieu thereof "and for the fiscal years ending September 30, 1977, September 30, 1978, and September 30, 1979, to be available until expended, $5,000,000 per fiscal year.". SEC. 120. Section 704(e) of the Public Works and Economic Development Act of 1965 (42 U.S.C. 3214) is amended to read as follows: "(e) No financial assistance authorized under this Act shall be used to finance the cost of facilities for the generation, transmission, or distribution of electrical energy, or to finance the cost of facilities for the production or transmission of gas (natural, manufactured, or mixed), except (1) for projects specifically authorized by Congress, and (2) for local projects for industrial parks and industrial or commercial areas in communities where the electrical energy or gas supply is, or is threatened to be interrupted or curtailed resulting in a loss of jobs, or where the purpose is to save jobs, or create new jobs, on condition that (A) the Secretary finds that project financing is not available from private lenders or other Federal agencies on terms which, in the opinion of the Secretary, will permit accomplishment of the project, and (B) the State or Federal regulatory body regulating such service determines that the facility to be financed will not compete with an existing public utility rendering such a service to the public at rates or charges subject to regulation by such State or Federal regulatory body, or if there is a determination of competition, the State or Federal regulatory body must make a determination that in the area to be served by the facility for which the financial assistance is to be extended there is a need for an increase in such service (taking into consideration reasonably foreseeable future needs) which the existing public utility is not able to meet through its existing facilities or through an expansion which it agrees to undertake. Not more fhan $7,000,000 appropriated to carry out titles I and II of this Act may be expended annually for such projects.". 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-

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