A bill to amend the Internal Revenue Code of 1954 to delay the provision which increases the unemployment tax to States which have not repaid unemployment compensation loans under Title XII of the Social Security Act.

Amends the Internal Revenue Code and the Federal Unemployment Tax Act to delay from January 1, 1980 to January 1, 1983 the date for application of the provision which reduces the total credits allowed a payer of the Federal unemployment compensation tax for contributions to the unemployment fund of a State which has not repaid Federal loans under title XII (Advances to State Unemployment Funds) of the Social Security Act.