Section 1 Short title
This Act may be cited as the “Layoff Prevention Extension Act of 2015”.
Layoff Prevention Extension Act of 2015
A BILL
To provide for the treatment and extension of temporary financing of short-time compensation programs.
Sec. 2 Extension of temporary financing of short-time compensation payments in States with programs in law
Extension—
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—
in paragraph (1)(B), by striking “3 years” and inserting “5 years”; and
in paragraph (2)—
in the heading, by striking “Three-year” and inserting “Five-year”; and
by striking “156 weeks” and inserting “260 weeks”.
Effective date— The amendments made by paragraph (1) shall take effect as if included in the enactment of such section 2162.
Technical correction—
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”.
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
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”.
Effective date— The amendment made by subsection (a) shall take effect as if included in the enactment of such section 2164.