National Employment Priorities Act of 1987

National Employment Priorities Act of 1987 - Amends the Fair Labor Standards Act of 1938 to add provisions relating to national employment priorities.

Sets forth general provisions.

Establishes in the Department of Labor a National Employment Relocation Administration, to be headed by an Administrator and Deputy Administrator appointed by the President with the advice and consent of the Senate.

Establishes a National Employment Relocation Advisory Council. Directs the members of such Council to perform specified functions, including advising the Secretary of Labor and the Administrator regarding the activities of the National Employment Relocation Administration and evaluating the effectiveness of programs carried out under this Act.

Requires written notice to be given to the Secretary whenever: (1) a business concern intends to close or transfer all or part of its operations; and (2) at least 15 percent of the employees who are members of a labor organization or 15 percent of all employees in that establishment will suffer an eligible employment loss as a result of any such closing or transfer.

Authorizes the Secretary to investigate a proposed closing or transfer of operations under specified circumstances. Directs the Secretary to publish a report at the conclusion of any such investigation.

Sets forth provisions relating to employment discrimination against employees because of complaints filed, proceedings instituted, testimony given or about to be given, or rights exercised under this Act.

Directs the Secretary to establish a program of adjustment assistance for employees who become unemployed or receive a weekly wage of less than 85 percent of their former wage as a result of a closing or transfer. Provides that such adjustment assistance shall include: (1) income maintenance payments; (2) maintenance of pension and health benefits; (3) job placement and retraining benefits; (4) relocation allowances; (5) early retirement benefits; (6) emergency mortgage and rent payments; and (7) food stamps and surplus commodities. Directs the Secretary to make every effort to place employees for substantially equivalent full employment in accordance with their capacity and prospective employment opportunities.

Requires employees who apply for adjustment assistance to also apply for such testing, counseling, training, and placement services as the Secretary determines to be appropriate. Directs the Secretary to provide such assistance under existing programs and, to the extent that this is not possible, authorizes the Secretary to establish programs for such purpose. Directs the Secretary to consult with the business and the employee representative in developing an employee retraining plan. Provides for specified training-related payments to employees. Makes refusal of training or placement grounds for loss of entitlement to adjustment assistance.

Makes a unit of local government eligible for assistance under this Act if the Secretary determines that the closing or transfer of business establishments has contributed substantially to an unemployment rate within such jurisdiction exceeding eight percent on a seasonally adjusted basis. Authorizes grants to local governments for substantial revenue losses as a result of a business closing or transfer. Authorizes assistance to businesses in such dislocated communities.

Authorizes technical and financial assistance to businesses threatened with dislocation. Sets forth certain findings which the Secretary must make in order for a business to receive such assistance. Authorizes the Secretary to develop a retraining program for employees who will be required to acquire new or additional skills as a result of the economic adjustment assistance proposal contained in the petition of such a business for such assistance.

Makes business concerns ineligible, for a specified period, for specified benefits (including investment credit, accelerated depreciation range, foreign tax credit, deferral of income earned outside the United States, and deductions for ordinary and necessary expenses related to such transfers of operations) under the Internal Revenue Code if the Secretary makes certain determinations regarding unjustified relocations, specified avoidable relocations, and foreign relocations for which there are economically justifiable alternatives.

Sets forth provisions relating to employee transfer, agreements with States, administration of financial assistance, recovery of overpayments, and penalties.

Authorizes appropriations.

Makes certain technical and conforming amendments.