(Senate agreed to House amendments with an amendment) Extends authorizations of appropriations under the Federal Water Pollution Control Act through fiscal year 1977. Directs the Administrator of the Environmental Protection Agency to allot to the States sums authorized to be appropriated each fiscal year beginning after September 30, 1976. Sets forth planning requirements for agencies designated to develop effective areawide waste treatment management plans. Stipulates that grants made by the Administrator to such agency shall not exceed 75 per cent of the costs of developing and operating a continuing areawide waste treatment management planning process in any year. Authorizes the Administrator to guarantee the principal and interest of any loan or other obligation of any State, municipality, or other agency issued to finance the cost of any eligible publicly owned treatment works. Permits the Administrator to extend the time for achieving the effluent limitations specified in such Act. Requires that any discharge of dredged or fill material into the navigable waters be in compliance with a permit issued under such Act. Exempts specified activities from such permit requirements. Limits the jurisdiction of the Secretary of the Army, under such Act, to those portions of the navigable waters: (1) that are subject to the ebb and flow of the tide to their mean high water mark; (2) that are or may be used for interstate transportation; and (3) that are contiguous wetlands, marshes or similar areas.