1. Short title
This Act may be cited as the “Restarting Local Economies Act of 2013”.
Restarting Local Economies Act of 2013
A BILL
To amend the Public Works and Economic Development Act of 1965 with respect to grants for economic adjustment, and for other purposes.
2. Grants for economic adjustment
In general— Section 209(c) of the Public Works and Economic Development Act of 1965 (42 U.S.C. 3149(c)) is amended—
in paragraph (4) by striking “or” at the end;
in paragraph (5) by striking the period at the end and inserting “; or”; and
by adding at the end the following:
“(6) the closure of a local government entity that had an economic development mission and left obligations related to economic development projects unfulfilled when closed.”
Cost sharing— Section 204(c) of the Public Works and Economic Development Act of 1965 (42 U.S.C. 3144(c)) is amended by adding at the end the following:
“(4) Closure of local government economic development entity—In the case of a grant provided under section 209, the Secretary may increase the Federal share above the percentage specified in subsection (a) up to 100 percent of the cost of the applicable project if the Secretary determines that the project assists a community with an economy injured by the closure of a local government entity that had an economic development mission and left obligations related to economic development projects unfulfilled when closed.”