[Congressional Bills 114th Congress]
[From the U.S. Government Publishing Office]
[S. 1902 Introduced in Senate (IS)]

114th CONGRESS
  1st Session
                                S. 1902

 To provide for the treatment and extension of temporary financing of 
                   short-time compensation programs.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             July 30, 2015

   Mr. Reed 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.

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

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Layoff Prevention Extension Act of 
2015''.

SEC. 2. EXTENSION OF TEMPORARY FINANCING OF SHORT-TIME COMPENSATION 
              PAYMENTS IN STATES WITH PROGRAMS IN LAW.

    (a) Extension.--
            (1) In general.--Subsection (b) of section 2162 of the 
        Middle Class Tax Relief and Job Creation Act of 2012 (26 U.S.C. 
        3304 note) is amended--
                    (A) in paragraph (1)(B), by striking ``3 years'' 
                and inserting ``5 years''; and
                    (B) in paragraph (2)--
                            (i) in the heading, by striking ``Three-
                        year'' and inserting ``Five-year''; and
                            (ii) by striking ``156 weeks'' and 
                        inserting ``260 weeks''.
            (2) Effective date.--The amendments made by paragraph (1) 
        shall take effect as if included in the enactment of such 
        section 2162.
    (b) Technical Correction.--
            (1) In general.--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''.
            (2) Effective date.--The amendment made by paragraph (1) 
        shall take effect on the day that is 2 years after the date of 
        the enactment of this Act.

SEC. 3. EXTENSION OF DEADLINE FOR SUBMITTING AN APPLICATION FOR GRANTS 
              FOR SHORT-TIME COMPENSATION PROGRAMS.

    (a) Extension.--Subsection (c)(1) of section 2164 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, 
2016''.
    (b) Effective Date.--The amendment made by subsection (a) shall 
take effect as if included in the enactment of such section 2164.
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