[Congressional Bills 104th Congress]
[From the U.S. Government Publishing Office]
[S. 408 Introduced in Senate (IS)]







104th CONGRESS
  1st Session
                                 S. 408

 To amend the Internal Revenue Code of 1986 to provide tax incentives 
    relating to the closure, realignment, or downsizing of military 
                             installations.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

            February 14 (legislative day, January 30), 1995

   Ms. Snowe introduced the following bill; which was read twice and 
                  referred to the Committee on Finance

_______________________________________________________________________

                                 A BILL


 
 To amend the Internal Revenue Code of 1986 to provide tax incentives 
    relating to the closure, realignment, or downsizing of military 
                             installations.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. HIRING INCENTIVES RELATING TO BASE CLOSURES, REALIGNMENTS, 
              AND REDUCTIONS IN FORCE.

    (a) In General.--Chapter 1 of the Internal Revenue Code of 1986 
(relating to normal tax and surtax rules) is amended by inserting after 
subchapter V the following new subchapter:

      ``Subchapter W--Tax Incentives Relating to Federal Military 
                             Installations

                              ``Part I. Definitions.
                              ``Part II. Hiring incentives.

                         ``PART I--DEFINITIONS

                              ``Sec. 1399A. Definitions.

``SEC. 1399A. DEFINITIONS.

    ``(a) Applicable Federal Military Installation.--For purposes of 
this subchapter, the term `applicable Federal military installation' 
means a Federal military installation or other facility which 
experiences a reduction in force or is closed or realigned under--
            ``(1) the Defense Base Closure and Realignment Act of 1990 
        (10 U.S.C. 2687 note),
            ``(2) title II of the Defense Authorization Amendments and 
        Base Closure and Realignment Act (10 U.S.C. 2687 note), or
            ``(3) section 2687 of title 10, United States Code.
    ``(b) Dislocated Employee.--For purposes of this subchapter--
            ``(1) In general.--The term `dislocated employee' means an 
        individual who is certified, under procedures similar to the 
        procedures described in section 51(d)(16), as being an 
        individual (whether or not a Federal employee)--
                    ``(A) who was employed on an applicable Federal 
                military installation, and
                    ``(B) whose job was terminated as a result of the 
                closing or realignment of such installation or a 
                reduction in force at such installation.
            ``(2) Limitation.--An individual shall not be treated as a 
        dislocated employee with respect to any job termination after 
        the later of--
                    ``(A) the close of the second calendar year 
                following the calendar year in which the announcement 
                of the job termination occurs, or
                    ``(B) the close of the 1-year period beginning with 
                the date on which the employee first begins work for 
                any employer after the job termination.

                      ``PART II--HIRING INCENTIVES

                              ``Sec. 1399B. Targeted jobs credit.

``SEC. 1399B. TARGETED JOBS CREDIT.

    ``For purposes of section 38, a dislocated employee shall be 
treated as a member of a targeted group for purposes of determining the 
targeted jobs credit under section 51.''.
    (b) Conforming Amendment.--The table of subchapters for chapter 1 
of the Internal Revenue Code of 1986 is amended by inserting after the 
item relating to subchapter V the following new item:

                              ``Subchapter W. Tax incentives relating 
                                        to Federal military 
                                        installations.''
    (c) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after the date of the enactment of 
this Act.
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