Jobs Creation Act

Summary

Jobs Creation Act - Title I: General - States the findings of Congress and the purposes of this Act. Title II: Job Opportunities Program - Amends the Public Works and Economic Development Act to direct the Secretary of Commerce to only fund projects creating job opportunities in high unemployment areas which can be initiated promptly and substantially completed within 12 months after the allocation is made. Suspends the Secretary's authority to make grants if the national average unemployment rate recedes below 6 1/2 percent for the most recent three consecutive months. Authorizes the appropriation of $500,000,000 for fiscal year 1976 and $500,000,000 for fiscal year 1977 to carry out the provisions of this Act. Title III: - Job Creation Tax Credit - Authorizes a limited tax credit, under the Internal Revenue Code, in an amount equal to 20 percent of the wages paid to an employee whose employment represents a net increase in the number of individuals employed by the taxpayer. Title IV: Public Service Jobs - Authorizes the appropriation of $700,000,000 for fiscal year 1976 and $3,350,000 for fiscal year 1977 to carry out the provisions of the Comprehensive Employment and Training Act. Makes technical and conforming amendments.

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1 official file

• Introduced in Senate

  summary · EN · 25 March 1976

  Open at official source

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