National Employment Priorities Act

National Employment Priorities Act - Declares that it is the purpose of this Act: (1) to require prenotification to employees and communities of dislocation of business concerns; (2) to prevent Federal support for unjustified dislocation; and (3) to provide assistance to employees, and affected communities threatened with dislocation. Defines the terms used in this Act.

Amends the Fair Labor Standards Act of 1938 to establish in the Department of Labor a National Employment Relocation Administration, to be headed by an Administrator and Deputy Administrator appointed by the President, by and with the advice and consent of the Senate.

Authorizes the Secretary of Labor to perform enumerated functions in order to carry out the purposes of this Act.

Requires written notice to be given to the Secretary whenever: (1) a business concern intends to close or transfer all or part of the operations of an establishment of that business concern; and (2) at least 10 percent of the employees who are members of any labor organization, 10 percent of all employees in that establishment, 25 employees will suffer an eligible employment loss as a result of any such closing or transfer.

Authorizes the Secretary to investigate a proposed closing or transfer of operations under specified circumstances.

Directs the Secretary to make every effort to place employees for substantially equivalent full employment in accordance with their capacity and prospective employment opportunities. Provides that a unit of local government is eligible for assistance under this Act upon determination by the Secretary that the closing or transfer of operations of business establishments has contributed substantially to an unemployment rate within such jurisdiction exceeding eight percent on a seasonally adjusted basis. Authorizes the Secretary to provide assistance to businesses within such areas.

Grants employees of a business which is to be relocated certain transfer rights and guarantees employees so transferring maintenance of economic benefits. Requires that a relocated business give new employees for at least three months equal or better economic benefits than those given employees at the former location.

Authorizes the Secretary to develop a retraining program for employees who will be required to acquire new or additional skills as a result of the economic adjustment assistance proposal. Makes business concerns ineligible for specified benefits under the Internal Revenue Code if the Secretary makes certain determinations. Authorizes to be appropriated to the Secretary such sums as may be necessary to carry out the provisions of this Act.