[Congressional Record Volume 147, Number 170 (Monday, December 10, 2001)]
[Senate]
[Pages S12772-S12775]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

      By Mr. DOMENICI:
  S. 1791. A bill to amend the Internal Revenue Code of 1986 to provide 
for economic security and recovery, and for other purposes; to the 
Committee on finance.
  Mr. DOMENICI. Madam President, the economy remains weak and the 
unemployment rate released last Friday for the month of November topped 
5.7 percent. This is the highest level in over 6 years, and many 
economists expect it to exceed 6 percent in the coming months.
  Recently the economy officially was put in the category of 
``recession'' beginning last March by the National Bureau of Economic 
Research.
  The economy measured by its gross national product, declined at a 1.1 
percent rate in the third quarter of this year.
  Corporate profits are down nearly 22 percent compared to last year, 
and consumer confidence is down 51 points in three months, the steepest 
drop since 1980.
  While there are a couple of ``not so bad'' economic factors out 
there, low consumer prices, low interest rates, low oil prices for 
consumers, and record high auto sales, these all could be temporary 
phenomena related to a broader weak economy and low consumer demand.
  For all these reasons, I believe Congress needs to act on a stimulus 
bill before it adjourns this first session of the 107th congress.
  The American public deserves action on a stimulus bill and we need to 
act quickly. Too much time has passed and we cannot let politics as 
usual keep us from putting together a bill that can achieve wide 
bipartisan support quickly.
  I have come to the conclusion that we should adopt a bill that is not 
controversial, politically speaking, and that can actually do some good 
for the American economy in a short time period.
  I therefore am introducing today a bill that does three very simple 
things that I think we can all agree on:
  First, a one-month payroll tax holiday, that will provide relief from 
the regressive payroll tax. It would eliminate the need for both 
employers and employees to pay the current 12.4 percent tax.
  I have found wide bipartisan support for this proposal. Unfortunately 
it is

[[Page S12773]]

probably too late now to implement it successfully in the month of 
December but I still believe it can be enacted in time to provide real 
relief in the first month of 2002.
  This proposal will provide nearly $40 billion in immediate, temporary 
tax relief to working Americans and businesses, and to State and local 
governments that must pay the tax also.
  Second, expand the safety net for working Americans by extending 
unemployment insurance for 13 weeks, and providing nearly 300,000 part 
time workers eligibility for unemployment insurance benefits and 
adjusting the ``base period'' for determining eligibility. These latter 
two changes were recommended by a blue ribbon commission charged with 
making recommendations for reforming the UI program.
  In total the changes I am recommending would increase the cost of the 
program by about $9 billion this year, and only $12 billion over the 
next decade.
  Finally, the bill I am proposing today would provide for an 
enhancement of expensing for capital purchases, a 20 percent bonus for 
depreciation with a 3 year sunset. The tax benefit to businesses for 
new capital purchases would be nearly $26 billion this year, and $12 
billion over the next decade.
  In total, these three provisions, packaged together to provide quick 
and affordable economic stimulus, would not exceed $73 billion this 
year and less than $62 billion over the next decade.
  Like so many on my side I wish we could do more in the way of 
speeding up the marginal tax rate cuts we enacted last spring, but it 
is clear that that can not pass the political test of other side.
  Some on the other side want to have a major expansion of health care 
benefits in any stimulus package, but it should be clear now that that 
will not pass the political test on this side of the aisle.
  For these reasons, I believe with time running short, this is the 
best possible package that we can put together that will win wide 
bipartisan support in the shortest amount of time and I encourage those 
directly involved in the, what appears to be faltering negotiations on 
a stimulus bill, to look at this package as a solution to acting 
quickly.
  I submit the bill to the desk for referral and I ask unanimous 
consent that the bill and a table outlining the proposal be printed in 
the Record.
  There being no objection, the material was ordered to be printed in 
the Record, as follows:

                                S. 1791

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

     SECTION 1. SHORT TITLE; ETC.

       (a) Short Title.--This Act may be cited as the ``Economic 
     Security and Recovery Act of 2001''.
       (b) References to Internal Revenue Code of 1986.--Except as 
     otherwise expressly provided, whenever in this Act an 
     amendment or repeal is expressed in terms of an amendment to, 
     or repeal of, a section or other provision, the reference 
     shall be considered to be made to a section or other 
     provision of the Internal Revenue Code of 1986.
       (c) Table of Contents.--

Sec. 1. Short title; etc.

                      TITLE I--BUSINESS PROVISIONS

Sec. 101. Special depreciation allowance for certain property acquired 
              after September 10, 2001, and before September 11, 2004.

                     TITLE II--PAYROLL TAX HOLIDAY

Sec. 201. Payroll tax holiday.

        TITLE III--TEMPORARY EMERGENCY UNEMPLOYMENT COMPENSATION

Sec. 301. Federal-State agreements.
Sec. 302. Temporary emergency unemployment compensation account.
Sec. 303. Payments to States having agreements for the payment of 
              temporary emergency unemployment compensation.
Sec. 304. Financing provisions.
Sec. 305. Fraud and overpayments.
Sec. 306. Definitions.
Sec. 307. Applicability.

                      TITLE I--BUSINESS PROVISIONS

     SEC. 101. SPECIAL DEPRECIATION ALLOWANCE FOR CERTAIN PROPERTY 
                   ACQUIRED AFTER SEPTEMBER 10, 2001, AND BEFORE 
                   SEPTEMBER 11, 2004.

       (a) In General.--Section 168 (relating to accelerated cost 
     recovery system) is amended by adding at the end the 
     following new subsection:
       ``(k) Special Allowance for Certain Property Acquired After 
     September 10, 2001, and Before September 11, 2004.--
       ``(1) Additional allowance.--In the case of any qualified 
     property--
       ``(A) the depreciation deduction provided by section 167(a) 
     for the taxable year in which such property is placed in 
     service shall include an allowance equal to 20 percent of the 
     adjusted basis of the qualified property, and
       ``(B) the adjusted basis of the qualified property shall be 
     reduced by the amount of such deduction before computing the 
     amount otherwise allowable as a depreciation deduction under 
     this chapter for such taxable year and any subsequent taxable 
     year.
       ``(2) Qualified property.--For purposes of this 
     subsection--
       ``(A) In general.--The term `qualified property' means 
     property--
       ``(i)(I) to which this section applies which has a recovery 
     period of 20 years or less or which is water utility 
     property, or
       ``(II) which is computer software (as defined in section 
     167(f)(1)(B)) for which a deduction is allowable under 
     section 167(a) without regard to this subsection,
       ``(ii) the original use of which commences with the 
     taxpayer after September 10, 2001,
       ``(iii) which is--

       ``(I) acquired by the taxpayer after September 10, 2001, 
     and before September 11, 2004, but only if no written binding 
     contract for the acquisition was in effect before September 
     11, 2001, or
       ``(II) acquired by the taxpayer pursuant to a written 
     binding contract which was entered into after September 10, 
     2001, and before September 11, 2004, and

       ``(iv) which is placed in service by the taxpayer before 
     January 1, 2005.
       ``(B) Exceptions.--
       ``(i) Alternative depreciation property.--The term 
     `qualified property' shall not include any property to which 
     the alternative depreciation system under subsection (g) 
     applies, determined--

       ``(I) without regard to paragraph (7) of subsection (g) 
     (relating to election to have system apply), and
       ``(II) after application of section 280F(b) (relating to 
     listed property with limited business use).

       ``(ii) Election out.--If a taxpayer makes an election under 
     this clause with respect to any class of property for any 
     taxable year, this subsection shall not apply to all property 
     in such class placed in service during such taxable year.
       ``(iii) Repaired or reconstructed property.--Except as 
     otherwise provided in regulations, the term `qualified 
     property' shall not include any repaired or reconstructed 
     property.
       ``(iv) Qualified leasehold improvement property.--The term 
     `qualified property' shall not include any qualified 
     leasehold improvement property (as defined in section 
     168(e)(6)).
       ``(C) Special rules relating to original use.--
       ``(i) Self-constructed property.--In the case of a taxpayer 
     manufacturing, constructing, or producing property for the 
     taxpayer's own use, the requirements of clause (iii) of 
     subparagraph (A) shall be treated as met if the taxpayer 
     begins manufacturing, constructing, or producing the property 
     after September 10, 2001, and before September 11, 2004.
       ``(ii) Sale-leasebacks.--For purposes of subparagraph 
     (A)(ii), if property--

       ``(I) is originally placed in service after September 10, 
     2001, by a person, and
       ``(II) sold and leased back by such person within 3 months 
     after the date such property was originally placed in 
     service,

     such property shall be treated as originally placed in 
     service not earlier than the date on which such property is 
     used under the leaseback referred to in subclause (II).
       ``(D) Coordination with section 280f.--For purposes of 
     section 280F--
       ``(i) Automobiles.--In the case of a passenger automobile 
     (as defined in section 280F(d)(5)) which is qualified 
     property, the Secretary shall increase the limitation under 
     section 280F(a)(1)(A)(i) by $4,600.
       ``(ii) Listed property.--The deduction allowable under 
     paragraph (1) shall be taken into account in computing any 
     recapture amount under section 280F(b)(2).''
       (b) Allowance Against Alternative Minimum Tax.--
       (1) In general.--Section 56(a)(1)(A) (relating to 
     depreciation adjustment for alternative minimum tax) is 
     amended by adding at the end the following new clause:
       ``(iii) Additional allowance for certain property acquired 
     after september 10, 2001, and before september 11, 2004.--The 
     deduction under section 168(k) shall be allowed.''
       (2) Conforming amendment.--Clause (i) of section 
     56(a)(1)(A) is amended by striking ``clause (ii)'' both 
     places it appears and inserting ``clauses (ii) and (iii)''.
       (c) Effective Date.--The amendments made by this section 
     shall apply to property placed in service after September 10, 
     2001, in taxable years ending after such date.

                     TITLE II--PAYROLL TAX HOLIDAY

     SEC. 201. PAYROLL TAX HOLIDAY.

       (a) In General.--Notwithstanding any other provision of 
     law, the rate of tax with respect to remuneration received 
     during the payroll tax holiday period shall be zero under 
     sections 1401(a), 3101(a), and 3111(a) of the Internal 
     Revenue Code of 1986 and for purposes of determining the 
     applicable percentage under section 3201(a), 3211(a)(1), and 
     3221(a) of such Code.
       (b) Payroll Tax Holiday Period.--The term ``payroll tax 
     holiday period'' means the period beginning after November 
     30, 2001, and ending before January 1, 2002.

[[Page S12774]]

       (c) Employer Notification.--The Secretary of the Treasury 
     shall notify employers of the payroll tax holiday period in 
     any manner the Secretary deems appropriate.
       (d) Transfer of Funds.--The Secretary of the Treasury shall 
     transfer from the general revenues of the Federal Government 
     an amount sufficient so as to ensure that the income and 
     balances of the trust funds under section 201 of the Social 
     Security Act and the Social Security Equivalent Benefit 
     Account under section 15A of the Railroad Retirement Act of 
     1974 (45 U.S.C. 231n-1) are not reduced as a result of the 
     application of subsection (a).
       (e) Determination of Benefits.--In making any determination 
     of benefits under title II of the Social Security Act, the 
     Commissioner of Social Security shall disregard the effect of 
     the payroll tax holiday period on any individual's earnings 
     record.

          TITLE III--TEMPORARY EMERGENCY UNEMPLOYMENT BENEFITS

     SEC. 301. FEDERAL-STATE AGREEMENTS.

       (a) In General.--Any State which desires to do so may enter 
     into and participate in an agreement under this title with 
     the Secretary of Labor (in this title referred to as the 
     ``Secretary''). Any State which is a party to an agreement 
     under this title may, upon providing 30 days written notice 
     to the Secretary, terminate such agreement.
       (b) Provisions of Agreement.--
       (1) In general.--Any agreement under subsection (a) shall 
     provide that the State agency of the State will make--
       (A) payments of regular compensation to individuals in 
     amounts and to the extent that such payments would be 
     determined if the State law were applied with the 
     modifications described in paragraph (2); and
       (B) payments of temporary emergency unemployment 
     compensation to individuals who--
       (i) have exhausted all rights to regular compensation under 
     the State law;
       (ii) do not, with respect to a week, have any rights to 
     compensation (excluding extended compensation) under the 
     State law of any other State (whether one that has entered 
     into an agreement under this title or otherwise) nor 
     compensation under any other Federal law (other than under 
     the Federal-State Extended Unemployment Compensation Act of 
     1970 (26 U.S.C. 3304 note)), and are not paid or entitled to 
     be paid any additional compensation under any Federal or 
     State law; and
       (iii) are not receiving compensation with respect to such 
     week under the unemployment compensation law of Canada.
       (2) Modifications described.--The modifications described 
     in this paragraph are as follows:
       (A) Alternative base period.--An individual shall be 
     eligible for regular compensation if the individual would be 
     so eligible, determined by applying--
       (i) the base period that would otherwise apply under the 
     State law if this title had not been enacted; or
       (ii) a base period ending at the close of the calendar 
     quarter most recently completed before the date of the 
     individual's application for benefits, provided that wage 
     data for that quarter has been reported to the State;

     whichever results in the greater amount.
       (B) Part-time employment.--An individual shall not be 
     denied regular compensation under the State law's provisions 
     relating to availability for work, active search for work, or 
     refusal to accept work, solely by virtue of the fact that 
     such individual is seeking, or is available for, only part-
     time (and not full-time) work, if--
       (i) the individual's employment on which eligibility for 
     the regular compensation is based was part-time employment; 
     or
       (ii) the individual can show good cause for seeking, or 
     being available for, only part-time (and not full-time) work.
       (c) Coordination Rules.--
       (1) Regular compensation payable under a federal law.--The 
     modifications described in subsection (b)(2) shall also apply 
     in determining the amount of benefits payable under any 
     Federal law to the extent that those benefits are determined 
     by reference to regular compensation payable under the State 
     law of the State involved.
       (2) TEUC to serve as second-tier benefits.--Notwithstanding 
     any other provision of law, extended benefits shall not be 
     payable to any individual for any week for which temporary 
     emergency unemployment compensation is payable to such 
     individual.
       (d) Exhaustion of Benefits.--For purposes of subsection 
     (b)(1)(B)(i), an individual shall be considered to have 
     exhausted such individual's rights to regular compensation 
     under a State law when--
       (1) no payments of regular compensation can be made under 
     such law because such individual has received all regular 
     compensation available to such individual based on employment 
     or wages during such individual's base period; or
       (2) such individual's rights to such compensation have been 
     terminated by reason of the expiration of the benefit year 
     with respect to which such rights existed.
       (e)  Weekly Benefit Amount.--For purposes of any agreement 
     under this title--
       (1) the amount of temporary emergency unemployment 
     compensation which shall be payable to an individual for any 
     week of total unemployment shall be equal to the amount of 
     regular compensation (including dependents' allowances) 
     payable to such individual under the State law for a week for 
     total unemployment during such individual's benefit year;
       (2) the terms and conditions of the State law which apply 
     to claims for extended compensation and to the payment 
     thereof shall apply to claims for temporary emergency 
     unemployment compensation and the payment thereof, except 
     where inconsistent with the provisions of this title or with 
     the regulations or operating instructions of the Secretary 
     promulgated to carry out this title; and
       (3) the maximum amount of temporary emergency unemployment 
     compensation payable to any individual for whom a temporary 
     emergency unemployment compensation account is established 
     under section 302 shall not exceed the amount established in 
     such account for such individual.
       (e) Election by States.--Notwithstanding any other 
     provision of Federal law (and if State law permits), the 
     Governor of a State is authorized and may elect to trigger 
     off an extended compensation period in order to provide 
     payment of temporary emergency unemployment compensation to 
     individuals who have exhausted their rights to regular 
     compensation under State law.

     SEC. 302. TEMPORARY EMERGENCY UNEMPLOYMENT COMPENSATION 
                   ACCOUNT.

       (a) In General.--Any agreement under this title shall 
     provide that the State will establish, for each eligible 
     individual who files an application for temporary emergency 
     unemployment compensation, a temporary emergency unemployment 
     compensation account with respect to such individual's 
     benefit year.
       (b) Amount in Account.--
       (1) In general.--The amount established in an account under 
     subsection (a) shall be equal to 13 times the individual's 
     average weekly benefit amount for the benefit year.
       (2) Reduction for extended benefits.--The amount in an 
     account under paragraph (1) shall be reduced (but not below 
     zero) by the aggregate amount of extended compensation (if 
     any) received by such individual relating to the same benefit 
     year under the Federal-State Extended Unemployment 
     Compensation Act of 1970 (26 U.S.C. 3304 note).
       (3) Weekly benefit amount.--For purposes of this 
     subsection, an individual's weekly benefit amount for any 
     week is the amount of regular compensation (including 
     dependents' allowances) under the State law payable to such 
     individual for such week for total unemployment.

     SEC. 303. PAYMENTS TO STATES HAVING AGREEMENTS FOR THE 
                   PAYMENT OF TEMPORARY EMERGENCY UNEMPLOYMENT 
                   COMPENSATION.

       (a) General Rule.--There shall be paid to each State which 
     has entered into an agreement under this title an amount 
     equal to--
       (1) 100 percent of any regular compensation made payable to 
     individuals by such State by virtue of the modifications 
     which are described in section 301(b)(2) and deemed to be in 
     effect with respect to such State pursuant to section 
     301(b)(1)(A);
       (2) 100 percent of any regular compensation--
       (A) which is paid to individuals by such State by reason of 
     the fact that its State law contains provisions comparable to 
     the modifications described in subparagraphs (A) and (B) of 
     section 301(b)(2); but only
       (B) to the extent that those amounts would, if such amounts 
     were instead payable by virtue of the State law's being 
     deemed to be so modified pursuant to section 301(b)(1)(A), 
     have been reimbursable under paragraph (1); and
       (3) 100 percent of the temporary emergency unemployment 
     compensation paid to individuals by the State pursuant to 
     such agreement.
       (b) Treatment of Reimbursable Compensation.--No payment 
     shall be made to any State under this section in respect of 
     any compensation to the extent the State is entitled to 
     reimbursement in respect of such compensation under the 
     provisions of any Federal law other than this title or 
     chapter 85 of title 5, United States Code. A State shall not 
     be entitled to any reimbursement under such chapter 85 in 
     respect of any compensation to the extent the State is 
     entitled to reimbursement under this title in respect of such 
     compensation.
       (c) Determination of Amount.--Sums under subsection (a) 
     payable to any State by reason of such State having an 
     agreement under this title shall be payable, either in 
     advance or by way of reimbursement (as may be determined by 
     the Secretary), in such amounts as the Secretary estimates 
     the State will be entitled to receive under this title for 
     each calendar month, reduced or increased, as the case may 
     be, by any amount by which the Secretary finds that the 
     Secretary's estimates for any prior calendar month were 
     greater or less than the amounts which should have been paid 
     to the State. Such estimates may be made on the basis of such 
     statistical, sampling, or other method as may be agreed upon 
     by the Secretary and the State agency of the State involved.

     SEC. 304. FINANCING PROVISIONS.

       (a) In General.--There are appropriated such funds as are 
     necessary to make payments to States having agreements 
     entered into under this title.
       (b) Certification.--The Secretary shall from time to time 
     certify to the Secretary of the Treasury for payment to each 
     State the sums payable to such State under this title. The 
     Secretary of the Treasury, prior to audit or settlement by 
     the General Accounting Office, shall make payments to the 
     State in accordance with such certification, by transfers 
     from the extended unemployment compensation account (as so 
     established) to the

[[Page S12775]]

     account of such State in the Unemployment Trust Fund (as so 
     established).
       (c) Assistance to States.--There are appropriated, without 
     fiscal year limitation, such funds as may be necessary for 
     purposes of assisting States (as provided in title III of the 
     Social Security Act (42 U.S.C. 501 et seq.) in meeting the 
     costs of administration of agreements under this title.
       (d) Appropriations for Certain Payments.--There are 
     appropriated from the general fund of the Treasury, without 
     fiscal year limitation, such sums as the Secretary estimates 
     to be necessary to make the payments under this section in 
     respect of--
       (1) compensation payable under chapter 85 of title 5, 
     United States Code; and
       (2) compensation payable on the basis of services to which 
     section 3309(a)(1) of the Internal Revenue Code of 1986 
     applies.

     Amounts appropriated pursuant to the preceding sentence shall 
     not be required to be repaid.

     SEC. 305. FRAUD AND OVERPAYMENTS.

       (a) In General.--If an individual knowingly has made, or 
     caused to be made by another, a false statement or 
     representation of a material fact, or knowingly has failed, 
     or caused another to fail, to disclose a material fact, and 
     as a result of such false statement or representation or of 
     such nondisclosure such individual has received an amount of 
     temporary emergency unemployment compensation under this 
     title to which he was not entitled, such individual--
       (1) shall be ineligible for further temporary emergency 
     unemployment compensation under this title in accordance with 
     the provisions of the applicable State unemployment 
     compensation law relating to fraud in connection with a claim 
     for unemployment compensation; and
       (2) shall be subject to prosecution under section 1001 of 
     title 18, United States Code.
       (b) Repayment.--In the case of individuals who have 
     received amounts of temporary emergency unemployment 
     compensation under this title to which they were not 
     entitled, the State shall require such individuals to repay 
     the amounts of such emergency unemployment compensation to 
     the State agency, except that the State agency may waive such 
     repayment if it determines that--
       (1) the payment of such emergency unemployment compensation 
     was without fault on the part of any such individual; and
       (2) such repayment would be contrary to equity and good 
     conscience.
       (c) Recovery by State Agency.--
       (1) In general.--The State agency may recover the amount to 
     be repaid, or any part thereof, by deductions from any 
     temporary emergency unemployment compensation payable to such 
     individual under this title or from any unemployment 
     compensation payable to such individual under any Federal 
     unemployment compensation law administered by the State 
     agency or under any other Federal law administered by the 
     State agency which provides for the payment of any assistance 
     or allowance with respect to any week of unemployment, during 
     the 3-year period after the date such individuals received 
     the payment of the temporary emergency unemployment 
     compensation to which they were not entitled, except that no 
     single deduction may exceed 50 percent of the weekly benefit 
     amount from which such deduction is made.
       (2) Opportunity for hearing.--No repayment shall be 
     required, and no deduction shall be made, until a 
     determination has been made, notice thereof and an 
     opportunity for a fair hearing has been given to the 
     individual, and the determination has become final.
       (d) Review.--Any determination by a State agency under this 
     section shall be subject to review in the same manner and to 
     the same extent as determinations under the State 
     unemployment compensation law, and only in that manner and to 
     that extent.

     SEC. 306. DEFINITIONS.

       In this title:
       (1) In general.--The terms ``compensation'', ``regular 
     compensation'', ``extended compensation'', ``additional 
     compensation'', ``benefit year'', ``base period'', ``State'', 
     ``State agency'', ``State law'', and ``week'' have the 
     respective meanings given such terms under section 205 of the 
     Federal-State Extended Unemployment Compensation Act of 1970 
     (26 U.S.C. 3304 note), subject to paragraph (2).
       (2) State law and regular compensation.--In the case of a 
     State entering into an agreement under this title--
       (A) ``State law'' shall be considered to refer to the State 
     law of such State, applied in conformance with the 
     modifications described in section 301(b)(2); and
       (B) ``regular compensation'' shall be considered to refer 
     to such compensation, determined under its State law (applied 
     in the manner described in subparagraph (A));

     except as otherwise provided or where the context clearly 
     indicates otherwise.

     SEC. 307. APPLICABILITY.

       (a) In General.--An agreement entered into under this title 
     shall apply to weeks of unemployment--
       (1) beginning no earlier than the first day of the first 
     week after the date on which such agreement is entered into; 
     and
       (2) ending before the date that is 12 months after the date 
     of enactment of this Act.
       (b) Specific Rules.--
       (1) In general.--Under such an agreement, the following 
     rules shall apply:
       (A) Alternative base periods.--The modification described 
     in section 301(b)(2)(A) (relating to alternative base 
     periods) shall not apply except in the case of initial claims 
     filed on or after the first day of the week that includes 
     September 11, 2001.
       (B) Part-time employment.--The modifications described in 
     section 301(b)(2)(B) (relating to part-time employment) shall 
     apply to weeks of unemployment described in subsection (a), 
     regardless of the date on which an individual's initial claim 
     for benefits is filed.
       (C) Eligibility for teuc.--The payments described in 
     section 301(b)(1)(B) (relating to temporary emergency 
     unemployment compensation) shall not apply except in the case 
     of individuals exhausting their rights to regular 
     compensation (as described in clause (i) of such section) on 
     or after the first day of the week that includes September 
     11, 2001.
       (2) Reapplication process.--
       (A) Alternative base periods.--In the case of an individual 
     who filed an initial claim for regular compensation on or 
     after the first day of the week that includes September 11, 
     2001, and before the date that the State entered into an 
     agreement under subsection (a)(1) that was denied as a result 
     of the application of the base period that applied under the 
     State law prior to the date on which the State entered into 
     the such agreement, such individual--
       (i) may refile a claim for regular compensation based on 
     the modification described in section 301(b)(2)(A) (relating 
     to alternative base periods) on or after the date on which 
     the State enters into such agreement and before the date on 
     which such agreement terminates; and
       (ii) if eligible, shall be entitled to such compensation 
     only for weeks of unemployment described in subsection (a) 
     beginning on or after the date on which the individual files 
     such claim.
       (B) Part-time employment.--In the case of an individual who 
     before the date that the State entered into an agreement 
     under subsection (a)(1) was denied regular compensation under 
     the State law's provisions relating to availability for work, 
     active search for work, or refusal to accept work, solely by 
     virtue of the fact that such individual is seeking, or 
     available for, only part-time (and not full-time) work, such 
     individual--
       (i) may refile a claim for regular compensation based on 
     the modification described in section 301(b)(2)(B) (relating 
     to part-time employment) on or after the date on which the 
     State enters into the agreement under subsection (a)(1) and 
     before the date on which such agreement terminates; and
       (ii) if eligible, shall be entitled to such compensation 
     only for weeks of unemployment described in subsection (a) 
     beginning on or after the date on which the individual files 
     such claim.
       (3) No retroactive payments for weeks prior to agreement.--
     No amounts shall be payable to an individual under an 
     agreement entered into under this title for any week of 
     unemployment prior to the week beginning after the date on 
     which such agreement is entered into.
                                  ____


                         Domenici Stimulus Bill

------------------------------------------------------------------------
                                                             Cost in
                                                             billions
                                                        ----------------
                                                          2002   2002-11
------------------------------------------------------------------------
       Relief for Low and Middle-Income Americans
 
Payroll Tax Holiday: Offer workers and employers a one-    $38       $38
 month holiday from federal payroll taxes while holding
 federal trust funds harmless..........................
 
      Expand the Safety Net for Working Americans
 
Extended and Expanded Unemployment Benefits: Provide         9        12
 additional 13 weeks of unemployment benefits to
 workers who exhaust their standard benefits after 9/
 11, expand eligibility to part-time workers, apply
 alternative base period...............................
 
       Stimulus for Encouraging Investment--Bonus
 
Expensing: Enhance expensing of capital expenditures        26        12
 with 20% bonus depreciation (3-year sunset)...........
                                                        ----------------
    Total Stimulus and Assistance......................     73        62
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