A bill to amend the Housing and Community Development Act of 1974 to provide that 50 percent of the grants under the urban development action grant program shall be made solely on the basis of project quality.

Amends the Housing and Community Development Act of 1974 regarding urban development action grant criteria to require at least one-half of aggregate grant amounts to be made solely on the basis of specified criteria, of which job creation, especially for low-income persons and minorities, shall be given priority. Requires a report to the Congress.