A bill to amend the Internal Revenue Code of 1986 to allow a credit to encourage employers to offer flexible and phased work opportunities to older workers, to expand the credit for dependent care expenses to cover eldercare expenses, to extend COBRA coverage for certain older workers who lose health insurance coverage due to a reduction in work, to improve older workers' access to job training services, and for other purposes.
Older Worker Opportunity Act - Amends the Internal Revenue Code to: (1) establish a tax credit equal to 40% of annual wages for older workers in flexible and phased work programs; and (2) extend the dependent care credit to eldercare expenses.
Amends the Employee Retirement Income Security Act of 1974 (ERISA) to extend COBRA continuation coverage for certain older workers.
Amends the Workforce Investment Act of 1998 to revise: (1) statewide employment and training activities, adding developing strategies for serving hard-to-serve populations and coordinating programs among one-stop partners; (2) local employment and training activities, with respect to intensive services and training services, and adding customer support for members of hard-to-serve populations, including individuals with disabilities; (3) performance measures, data, and reporting; (4) uses of funds for statewide activities, adding incentive grants for local areas; and (5) incentive grants for states.
Directs the Secretary of Labor to establish a Federal Task Force on Older Workers.
Introduced in Senate
Sponsor introductory remarks on measure. (CR 10/07/2005 S11214-11215)
Read twice and referred to the Committee on Finance. (text of measure as introduced: CR 10/7/2005 S11215-11218)
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