Small Business Employee Protection Equalization Act

Summary

Small Business Employee Protection Equalization Act - Directs the Security of Labor to make monthly payments for up to 36 months to eligible small business employees who have been deprived of employment or who have been adversely affected with respect to compensation by the effect on the employer of such employee of changes in the regulatory structure provided by Federal regulatory bodies. Makes eligible for such assistance all employees, except corporate officers or directors, serving for at least four years in one or more small businesses. Directs the Secretary, after consultation with the Small Business Administrator, to establish guidelines to determine the amount of such assistance. Directs that such assistance provide displaced employees with: (1) substantially the same wage and fringe benefit status provided by their jobs; (2) reimbursement for relocation expenses; and (3) reimbursement for loss sustained in the sale of their principal place of residence. Reduces the amount of assistance available to displaced employees who refuse to accept comparable employment. Requires small businesses, in hiring employees, to give preference to the terminated or furloughed employees of another small business. Establishes the Small Business Employees Protective Account within the Treasury of the United States in order to make such assistance payments.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

No timeline events have been ingested for this record yet.

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

• Introduced in Senate

  summary · EN · 9 October 1978

  Open at official source

Sponsors

No sponsors or actors listed by the source.

Related records

No cross-record relationships stored yet.