II
113th CONGRESS
2d Session
S. 2906
IN THE SENATE OF THE UNITED STATES
September 18, 2014
Mr. Reed (for himself, Mr. Harkin, and Mr. Whitehouse) introduced the following bill; which was read twice and referred to the Committee on Finance
A BILL
To provide for the treatment and extension of temporary financing of short-time compensation programs.
Short title
This Act may be cited as the
Layoff Prevention Extension Act of 2014
.
Extension of temporary financing of short-time compensation payments in States with programs in law
In general
Section 2162(b) of the Middle Class Tax Relief and Job Creation Act of 2012 (26 U.S.C. 3304 note) is amended—
in paragraph (1)(B), by striking 3 years
and inserting 4 years
; and
in paragraph (2)—
in the heading, by striking Three-year
and inserting Four-year
; and
by striking 156 weeks
and inserting 208 weeks
.
Technical correction
Section 3306(v)(6) of the Internal Revenue Code of 1986 (26 U.S.C. 3306) is amended by inserting or the Workforce Innovation and Opportunity Act
after 1998
.
Extension of deadline for submitting an application for grants for short-time compensation programs
Section 2164(c)(1) of the Middle Class Tax Relief and Job Creation Act of 2012 (26 U.S.C. 3304
note) is amended by striking December 31, 2014
and inserting December 31, 2015
.