Amends the Earthquake Hazards Reduction Act of 1977 to authorize appropriations through FY 1990 for contributions to the National Earthquake Hazards Reduction Program by the Federal Emergency Management Agency (FEMA), the U.S. Geological Survey, the National Science Foundation, and the National Bureau of Standards.
Limits the level of cost sharing for activities under this Act for States which voluntarily engaged in such sharing with FEMA.
Prohibits for States meeting certain qualifications the imposition of new cost-sharing requirements for activities under such Act for FY 1988, but permits FEMA to require up to a 25 percent match in FY 1989.