Defense Economic Reinvestment Act of 1992

Defense Economic Reinvestment Act of 1992 - Title I: Worker and Member Assistance Programs - Directs the Secretary of Defense to establish a program to assist displaced defense workers (workers displaced as the result of the closure of defense facilities or reductions in defense spending) and members involuntarily separated from active duty in the armed forces to obtain reemployment in defense distressed areas (areas in which a minimum workforce reduction has occurred as the result of defense spending reductions or the closure of a defense facility). Directs the Secretary to enter into agreements with public or private employers that agree to extend employment positions to separated members and displaced defense workers. Requires: (1) the Secretary to pay 25 percent of the first-year's wages paid to each displaced defense worker or separated member; (2) the employer to hire a specified number of such individuals during the agreement period for at least 180 days and to place such individuals in positions located in, or relocate them outside of, a defense dependent area. Requires repayment to the Secretary by an employer breaching such agreement.

Authorizes the Secretary to implement an incentive program to assist a facility in rehiring employees terminated or laid off as the result of the curtailment, completion, elimination, or realignment of a defense contract or program. Requires the Secretary to pay 12.5 percent of the first-year's wages of employees rehired under such program. Requires the facility involved to continue to pay the health insurance premium for health care elected by such employees.

Authorizes appropriations to carry out both programs.

Amends the Internal Revenue Code to allow an additional credit against Federal unemployment tax (not to exceed 12 percent) for employers who contribute to a reemployment assistance fund maintained under a State law certified by the Secretary of Labor.

Changes the rate of Federal unemployment tax on employers to the sum of 5.4 percent of total wages paid and .25 percent of the total Federal taxable wages paid. (The current rate of tax is 6.2 percent for 1988 through 1995 and 6.0 percent for 1996 and thereafter.) Replaces the $7,000 threshold in the definition of wages, for purposes of Federal taxable wage, with the average annual wage in employment covered under State unemployment compensation laws for the most recent calendar year.

Revises the method of computing installment payments of Federal unemployment tax to take into account the additional credit allowed against such tax.

Directs the Secretary to establish a program under which the Secretary makes grants to eligible entities to provide: (1) retraining services to enable displaced defense workers and involuntarily separated members of the armed forces who have experience in the field of engineering to obtain employment in the field of environmental engineering; and (2) fellowship assistance to such individuals while they are receiving such retraining. Makes eligible for such grants certain public research universities having a facility located within 50 miles of a defense distressed community. Outlines selection criteria. Limits such grants to $2,000,000 per entity. Authorizes appropriations.

Title II: Defense Economic Development Grants - Directs the Secretary to make grants to communities, including defense distressed communities located in defense dependent areas, to assist such communities in the economic transition necessary due to reductions in defense expenditures or the closure of defense facilities. Provides a grant preference to certain communities. Outlines authorized fund uses. Authorizes the Secretary to perform administrative services on a reimbursable basis on behalf of a grant recipient. Authorizes appropriations.

Title III: Defense Industrial and Technology Base Initiatives - Expresses the sense of the Congress that: (1) upon completion of the recommendations by a government-industry committee concerning the rights of the United States in technical data produced in its Federal laboratories, the Secretary should report to the Congress concerning such recommendations and related regulations; (2) upon completion of a final report of an advisory panel concerning the streamlining and codification of defense acquisition laws, the Secretary should transmit such report to the Senate and House Armed Services Committees (defense committees), together with comments; and (3) the Secretary should make every effort to facilitate technology dissemination to U.S. private industry to the extent practical with fiscal prudence and national security.

Directs the Secretary to establish a program to make grants to support the enhancement of existing programs of alternative technology development, and the establishment of new alternative technology development programs, regarding biotechnology, photonics, and agro-environmental and marine science. Makes eligible as grant recipients certain public research universities with facilities located within a defense dependent area or an independent nonprofit research institution with an advanced degree program. Requires the Secretary to give a preference in the award of such grants to universities that conduct research as part of a State comprehensive economic development and conversion plan. Requires applicants to be chosen on a merit basis pursuant to competitive procedures. Outlines selection criteria. Authorizes appropriations.

Title IV: Administration of Economic Adjustment Programs in the Department of Defense - Establishes the position of Assistant Secretary of Defense for Economic Adjustment to be responsible for the overall supervision of economic adjustment programs in the Department of Defense (DOD).

Establishes in DOD an Office for Economic Adjustment, directed by the Assistant Secretary. Outlines Office duties relating to the economic adjustment and industrial diversification of industries, communities, and workers adversely affected by the termination or reduction of defense spending or defense-related contracts. Requires the Office to provide economic adjustment assistance to such industries, communities, and workers on a Federal, State, and local community level. Authorizes appropriations.

Title V: Notification of Defense Facilities Closings and Employee Layoffs - Requires a defense facility, as soon as practicable after receiving actual or constructive notice of the cancellation or delay of a defense contract, to notify the following persons or entities about the contract and any plant closing or layoff of 50 or more employees likely to occur as a result of the cancellation or delay: (1) the Office of Economic Adjustment of DOD; (2) each labor representative of any employee affected, or if none, the employee; and (3) the chief elected official of the State in which the facility is located.

Prohibits an employer (generally, one employing 100 or more full-time employees) from ordering a plant closing or employee layoff until 60 days after the employer serves notice to such individuals and entities. Allows the employer to shut down a single site of employment before such 60-day period in limited circumstances. Requires no notification when such closing or layoff is due to a natural disaster.

Provides that a layoff of more than six months which, at its outset, was announced as a layoff of six months or less, shall be treated as an employment loss unless: (1) the extension beyond six months is caused by unforeseen business circumstances; and (2) notice is given at the time it becomes foreseeable that the extension will be required. States that such notification requirements shall not apply to a plant closing or layoff if it: (1) involves a temporary facility; or (2) constitutes a strike or lockout not intended to evade the requirements of this title. Provides for civil actions against employers found to be in violation of the requirements of this title. Requires employees who suffer an employment loss without proper notification to receive back pay and certain benefits under employee benefit plans for the period of violation up to 60 days. Outlines administrative procedures in connection with such civil action. States that the remedies provided under this title for lack of due notification shall be the exclusive remedies for such violation, allowing no Federal court to enjoin a plant closing or layoff. Provides that rights and remedies provided to employees by this title are in addition to any other statutory rights and remedies of such employees.