Rural Job Development Act

Rural Job Development Act - Provides income tax incentives and other benefits for employers operating certain industrial or commercial enterprises in rural job development areas.

Title I: Eligibility for Assistance Certification - Directs the Secretary of Agriculture to certify as eligible for benefits under this Act new facilities or new parts of facilities which meet the requirements set forth in this Act, including: (1) that such facility has been approved by the local authority as consistent with local zoning ordinances and economic and physical planning; (2) that such facility was placed in service by the person to whom the certificate is to be issued a rural job development area in the first taxable year of the certification period; (3) the creation of new, full-time jobs for at least ten persons; and (4) the employment of persons in at least 50 percent of the jobs in such facility who reside within the rural job development area, or have served at least one year on active duty in the Armed Forces, or have been enrolled at least one year in the Job Corps.

Requires the Secretary to issue a certificate of eligibility to such businesses which meet the requirements set forth in this Act.

Authorizes the Secretary to require certified businesses to file reports, and provides criminal sanctions for filing false reports.

Title II: Tax Incentives - Provides an income tax credit for investment in certified, depreciable property in rural job development areas. Limits the amount of credit to the taxpayer's tax liability for the year, but provides for carryback and carryover of excess credits. Provides for tax increases if property for which credits were allowed are disposed of under certain circumstances within 10 years of the expenditures which qualified for the credits in the case of real property, or within 4 years in the case of personal property.

Provides regulations for depreciation deductions for property of the same type for which credits are allowed under this Act, and for carryover as a deduction of net operating losses of certified businesses.

Allows a tax deduction to an eligible employer of 50 percent of the compensation paid during the taxable year to employees who: (1) satisfy the requirements of section 101 of the Rural Job Development Act of 1969; (2) performs substantially all of his services at a qualified facility; and (3) is receiving training to acquire the skills necessary to perform (A) the position or job in which he is employed or (B) another position or job as an employee of such facility.

Title III: Miscellaneous Provisions - Authorizes the Secretary of Agriculture to collect, analyze, and publish economic data for the information and guidance of businessmen seeking to establish jobs creating enterprises in rural job development areas.

Authorizes expenditures of $350,000 for each fiscal year for purposes of this Act.

Creates the National Advisory Committee on Rural Industrialization, to be composed of twenty-five members appointed by the Secretary of Agriculture, to assist the Secretary in administering this Act.

Directs the Secretary of Agriculture to make an annual report to Congress concerning his operations under this Act.