Private Sector, Part-Time Employment Act

Private Sector, Part-Time Employment Act - Allows a tax credit, under the Internal Revenue Code, in an amount equal to the aggregate of 20 percent of the part-time employee whose equivalent full-time salary is less than $14,000, plus 25 percent of the part-time employment expenses incurred with respect to any qualified part-time employee whose equivalent full-time annual salary is $14,000 or more.

Limits the applicability of such credit to the lesser of 20 percent of the average number of employees employed by the taxpayer or the increase in the number of part-time employees employed in this taxable year over the preceding taxable year.

Provides for the carryback and the carryover of such credit to the extent that the allowable credit exceeds the taxpayer's current liability.