H.R. 614 · 109th Congress
NAFTA-Impacted Communities Relief Act
- Stage
- In committee
- Sponsor
- Mike McIntyre
- Introduced
- 2005-02-08
- Latest action
- 2005-03-24 · Referred to the Subcommittee on 21st Century Competitiveness.
Summary
NAFTA-Impacted Communities Relief Act - Amends the Internal Revenue Code to: (1) provide for the designation of communities as impacted by the North American Free Trade Agreement (NAFTA) based upon job loss and unemployment resulting from NAFTA; (2) allow employers in such NAFTA-impacted communities a business tax credit for up to 8.5 percent of wages paid to employees; (3) increase depreciation expensing levels for business assets located in NAFTA-impacted communities; and (4) direct the Secretary of Labor to provide grants to States containing NAFTA-impacted communities for education and job training assistance.