Corporate Facility and Job Relocation Act

Corporate Facility and Job Relocation Act - Revises the Internal Revenue Code to make a taxpayer ineligible for the investment tax credit, for the issuance of tax exempt industrial development bonds, and for other provisions of the Code relating to the nonrecognition of gain on the disposition of corporate assets, or the use of the installment method for sales, where a change in the use of existing plant facilities will reduce the employment offered by the taxpayer in high unemployment areas.