1. Short title
This Act may be cited as the “Layoff Prevention Extension Act of 2014”.
Layoff Prevention Extension Act of 2014
A BILL
To provide for the treatment and extension of temporary financing of short-time compensation programs.
2. 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”.
3. 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”.