S.1333 - Layoff Prevention Act of 2011112th Congress (2011-2012)
|Sponsor:||Sen. Reed, Jack [D-RI] (Introduced 07/06/2011)|
|Committees:||Senate - Finance|
|Latest Action:||07/06/2011 Read twice and referred to the Committee on Finance. (All Actions)|
This bill has the status Introduced
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Summary: S.1333 — 112th Congress (2011-2012)All Bill Information (Except Text)
Introduced in Senate (07/06/2011)
Layoff Prevention Act of 2011 - Amends the Internal Revenue Code to set forth requirements relating to short-time compensation programs to allow employers to reduce the workweek of their employees in lieu of layoffs.
Provides for federal financing of state short-time compensation programs. Requires the Secretary of Labor to: (1) award grants to states that enact such programs; (2) develop model legislative language for use by states in developing, enacting, and implementing such programs; and (3) report to Congress and the President on their implementation.