Intergovernmental Antirecession and Supplementary Fiscal Assistance Amendments of 1979

Intergovernmental Antirecession and Supplementary Fiscal Assistance Amendments of 1979 - Amends the Public Works Employment Act of 1976 to add to the congressional findings under such Act that both an antirecession fiscal assistance program and a supplementary fiscal assistance program which aid governments requiring fiscal relief are essential elements of a sound Federal fiscal policy.

Extends the authorization of appropriations for antirecession fiscal assistance through September 30, 1980. Provides for the suspension of such assistance in certain circumstances if the unemployment rate does not exceed six percent.

Requires the Secretary of Labor to calculate the unemployment rate for specified units of local governments, within or encompassing standard metropolitan statistical areas, using the population survey methodology used prior to January 1, 1978, if such rates are higher then under the current methodology.

Requires the Secretary of Commerce to reallocate any undistributed excess amounts among the States and local governments.

Repeals the requirement that States and local governments file statements with the Secretary containing certain reporting assurances.

Authorizes the Secretary to make supplemental payments to local governments whose allocation would be reduced as a result of calculating unemployment rates by a new formula.

Directs the Secretary of Labor to provide the Secretary of Commerce with necessary information and to determine unemployment rates for each State and local government.

Authorizes the Secretary of Commerce to pay supplementary fiscal assistance to local governments with unemployment rates above six percent whenever the unemployment rate for the United States is five percent or more.

Authorizes appropriations for such assistance through September 30, 1980. Provides for the suspension of such assistance if antirecession fiscal assistance is being paid or U.S. unemployment rates are less than five percent. Specifies the formula to be used in determining payments under this Act.

Requires the Secretary of Commerce to combine certain supplementary payments with the general revenue sharing payment and make a single payment to the local governmental unit. Provides for the reallocation of any undistributed excess amounts among the local governmental units. Requires local governments receiving supplementary fiscal assistance to comply with those provisions applicable to antirecession fiscal assistance.