FUTURE of Workers Act

with respect to anticipated employment impacts. ``(d) 9 Percent Unemployment.--During the period beginning on the date on which the Secretary of Labor determines that the rate of unemployment has exceeded 9 percent during 2 consecutive quarters and ending on the date on which the Secretary of Labor determines that the rate of unemployment has been less than 9 percent for 2 consecutive quarters, the Board of Governors of the Federal Reserve System shall prioritize the maximum employment mandate of the Federal Reserve System in its activities.''. SEC. 4. WORKER ADAPTATION AND TRAINING PROGRAM. (a) Definitions.--In this section: (1) Covered worker.--The term ``covered worker'' means a worker whom the Secretary determines-- (A) has attested that-- (i) the worker's employment (or, for a recent graduate, their planned employment) has been terminated or otherwise impacted by the adoption of covered technology rather than for cause; and (ii)(I) for a worker who is not a recent graduate, the termination or impact occurred within the 1-year period ending on the date of the determination under this paragraph; or (II) the worker is a recent graduate as of the date of the determination under this paragraph; or (B) is employed, or otherwise engaged in labor or services for remuneration, in a position that is an at- risk occupation listed in the most recently published list under section 7(a)(2). (2) Employment.--The term ``employment'' includes engagement in labor or services for remuneration without regard to whether the individual performing the labor or services is an employee. (3) In-demand industry sector or occupation.--The term ``in-demand industry sector or occupation'' has the meaning given the term in section 3 of the Workforce Innovation and Opportunity Act (29 U.S.C. 3102). (4) Institution of higher education.--The term ``institution of higher education'' has the meaning given the term in section 102 of the Higher Education Act of 1965 (20 U.S.C. 1002). (5) Local area; local board; one-stop operator.--The terms ``local area'', ``local board'', and ``one-stop operator'' have the meanings given such terms in section 3 of the Workforce Innovation and Opportunity Act. (6) Recent graduate.--The term ``recent graduate'' means an individual who has successfully completed all requirements for a postsecondary degree, diploma, certificate, or recognized vocational or professional training program at an institution of higher education during the preceding 1-year period. (7) Registered apprenticeship.--The term ``registered apprenticeship'' means an apprenticeship registered under the Act of August 16, 1937 (commonly known as the ``National Apprenticeship Act''; 50 Stat. 664, chapter 663; 29 U.S.C. 50 et seq.). (8) Secretary.--The term ``Secretary'' means the Secretary of Labor. (9) State agency.--The term ``State agency'' has the meaning given the term in section 2 of the Wagner-Peyser Act (29 U.S.C. 49a). (10) State board; training services.--The terms ``State board'' and ``training services'' have the meanings given such terms in section 3 of the Workforce Innovation and Opportunity Act. (11) Worker.--The term ``worker'' includes an employee, an independent contractor, a gig worker, an unemployed individual, and a recent graduate. (b) General Authority.-- (1) In general.--The Secretary of Labor shall establish and administer, within the United States Employment Service, a Worker Adaptation and Training Program (referred to in this section as the ``Program''), through which the Secretary shall provide each eligible worker as determined under subsection (d)(1) participating in the Program the services and support described in subsection (d)(3). (2) Administration.--In administering the Program, the Secretary shall, to the maximum extent practicable and, as applicable, through agreements with State agencies, State boards, local boards, and one-stop operators, deliver such services and support through existing workforce development infrastructure, including one-stop delivery systems under section 121 of the Workforce Innovation and Opportunity Act (29 U.S.C. 3151) and State employment service offices. (c) In-Demand Industry Sectors and Occupations.-- (1) Review.--In consultation with the Assistant Secretary of Labor for Employment and Training and the Commissioner of Labor Statistics, the Secretary shall-- (A) review the in-demand industry sectors and occupations specified in State plans under section 102(b)(1)(A)(i) of the Workforce Innovation and Opportunity Act (29 U.S.C. 3112(b)(1)(A)(i)); and (B) actively monitor the skill needs for such sectors and occupations and corresponding relevant opportunities for training services. (2) Retraining projects.--As a result of the review under paragraph (1), the Secretary shall utilize available funding under this Act to create new, or to expand or supplement existing, retraining projects with training services in in- demand industry sectors or occupations, including in various local areas, to train participants in the Program for labor market needs. (3) Directory.--In carrying out this section, the Secretary shall maintain a directory of retraining projects described in this subsection, and actively work to place participants in the Program in those projects. (4) Collaboration.--In carrying out this subsection, the Secretary shall collaborate with labor-management partnerships and labor organizations, and assist in the creation of such partnerships and labor organization-run retraining projects, including registered apprenticeships. (d) Eligible Workers.-- (1) Applications.--To be eligible to participate in the Program, a worker shall-- (A) be actively seeking employment, on the date on which the worker submits an application under subparagraph (B); and (B) submit an application to the Secretary at such time, in such manner, and containing such information as the Secretary may require, including-- (i) information on their work experience, including their title, job responsibilities, and work location, on their educational history, and on their dependents; and (ii) attestations that-- (I) the worker is a covered worker; (II) the worker will be either receiving training services or actively seeking employment while in the Program; and (III) the worker is not receiving unemployment compensation under Federal or State law, or will stop receiving such compensation if accepted to participate in the Program. (2) Decision on applications.--Not later than 30 days after receiving an application under paragraph (1)(B), the Secretary shall review, and approve or deny, the application. (3) Services and support.--A participant in the Program shall receive-- (A) individual career counseling, which may include staff-assisted services described in section 652.207(b)(2)(iii) of title 20, Code of Federal Regulations, and provided under section 7 of the Wagner-Peyser Act (29 U.S.C. 49f); (B) retraining in an in-demand industry sector or occupation through training services (in which the participant may immediately enroll once approved for participation in the Program); (C) if relocation is required for participation in the Program or for placement in qualified employment as described in paragraph (5)(A), a one-time payment of relocation assistance in an amount of not more than $10,000 (which maximum amount shall be adjusted each year for inflation beginning 1 year after the date of enactment of this Act); (D) when not placed in qualified employment as described in paragraph (5)(A), financial assistance, to be known as ``New Foundations Support Payments'', which shall be made monthly and in an amount that, calculated annually-- (i) in the case of a recent graduate, shall be not more than the State median wage for the State in which the participant resides; and (ii) in the case of a participant who is not a recent graduate, shall be not more than 85 percent of the participant's income in the full calendar year preceding-- (I) in the case of a worker described in subsection (a)(2)(A)(ii)(I), the date of the termination or impact involved; or (II) in the case of a worker described in subsection (a)(2)(B), the date on which the worker applies for participation in the Program; (E) at the option of the State in which the participant resides, medical assistance for the participant and dependents of the participant under the State plan (or a waiver of such plan) under title XIX of the Social Security Act (42 U.S.C. 1396 et seq.), in accordance with the amendments made by paragraph (4); (F) if applicable, wage replacement assistance in accordance with paragraph (5)(B); and (G) ongoing information from the Secretary on entrepreneurship resources provided by the Small Business Administration, including information related to-- (i) the loan and grant programs of the Small Business Administration, including the business loan and microloan programs under subsections (a) and (m), respectively, of section 7 of the Small Business Act (15 U.S.C. 636), and applicable set-aside funds for participants in the Program; and (ii) assistance provided by resource partners of the Small Business Administration, including-- (I) small business development centers described in section 21 of the Small Business Act (15 U.S.C. 648); (II) women's business centers described in section 29 of that Act (15 U.S.C. 656); (III) the Service Corps of Retired Executives under section 8(b)(1) of that Act (15 U.S.C. 637(b)(1)); and (IV) the Veteran Business Outreach Centers described in section 32 of that Act (15 U.S.C. 657b). (4) Optional medicaid coverage for watp participants and their dependents.-- (A) In general.--Section 1902(a)(10)(A)(ii) of the Social Security Act (42 U.S.C. 1396a(a)(10)(A)(ii)) is amended-- (i) in subclause (XXII), by striking ``or'' after the semicolon; (ii) in subclause (XXIII), by inserting ``or'' after the semicolon; and (iii) by inserting after subclause (XXIII) the following: ``(XXIV) who are described in subsection (zz) (relating to participants in the Worker Adaptation and Training Program and their dependents);''. (B) Group described.--Section 1902 of the Social Security Act (42 U.S.C. 1396a) is amended by adding at the end the following: ``(zz) WATP Participants and Dependents.-- ``(1) In general.--Individuals described in this subsection are individuals who-- ``(A) are not described in subsection (a)(10)(A)(i); ``(B) are participants in the Worker Adaptation and Training Program established in section 4 of the FUTURE of Workers Act who, subject to paragraph (2), have not been placed in qualified employment (as described in section 4(d)(5)(A) of such Act) or are dependents of such participants; and ``(C) are not otherwise covered under creditable coverage, as defined in section 2704(c) of the Public Health Service Act. ``(2) Extension of eligibility for 6 months after placement in qualified employment.--An individual described in paragraph (1), and any dependent of such an individual, for whom a State has elected to provide medical assistance under the State plan approved under this title (or a waiver of such plan) shall remain eligible for medical assistance during the 6-month period that begins on the date the individual is placed in, and begins, qualified employment (as described in section 4(d)(5)(A) of the FUTURE of Workers Act), without any reapplication for benefits under the State plan (or waiver).''. (C) Exclusion from income limitation.--Section 1903(f)(4) of the Social Security Act (42 U.S.C. 1396b(f)(4)) is amended by inserting ``1902(a)(10)(A)(ii)(XXIV),'' after ``1902(a)(10)(A)(ii)(XXII),''. (D) Definition of medical assistance.--Section 1905(a) of the Social Security Act (42 U.S.C. 1396d(a)) is amended in the matter preceding paragraph (1)-- (i) in clause (xvii), by striking ``or'' after ``such subsection''; (ii) in clause (xviii), by inserting ``or'' after ``age''; (iii) by inserting after clause (xviii) the following: ``(xiv) individuals described in section 1902(zz),''; and (iv) by realigning the left margins of clauses (xvi) and (xviii) so they align with the left margin of clause (xvii). (E) Presumptive eligibility option.--Section 1920(e) of such Act (42 U.S.C. 1396r-1(e)) is amended by striking ``or clause (ii)(XX)'' and inserting ``clause (ii)(XX), or clause (ii)(XXIV)''. (5) Wage replacement assistance.-- (A) Qualified employment.--For purposes of this subparagraph, a participant or former participant of the Program shall be considered to be placed in qualified employment if-- (i) the individual is a participant who receives training services through an employment position in the Program, such as a registered apprenticeship or on-the-job training position; or (ii) the individual is a former participant who, after receiving training services through the Program that prepare the individual for a position in an in-demand industry sector or occupation, is placed in such a position. (B) Payments.-- (i) In general.--Except as provided in clause (ii), in the case of an individual who is placed in qualified employment as described in subparagraph (A) and is not a recent graduate, the Secretary shall pay to such individual-- (I) for each of the first 3 years of the qualified employment, 75 percent of the difference between-- (aa) the wages received by the individual for the position of such qualified employment for such year; and (bb) wages received by the individual calculated for 1 year based on-- (AA) in the case of a worker described in subsection (a)(2)(A)(ii)(I), the annual rate of wages of the individual for the position to which the termination or impact involved applies as of the date of such termination or impact; or (BB) in the case of a worker described in subsection (a)(2)(B), the annual rate of wages of the individual for the position described in such subsection as of the date on which the worker applies for participation in the Program; (II) for the fourth year of the qualified employment, 50 percent of such difference; and (III) for the fifth year of the qualified employment, 25 percent of such difference. (ii) Limitation.--No payment shall be made under this subparagraph to an individual for a year if, for that year, the individual received an amount in wages for the position of the qualified employment that is equal to or more than the amount in wages received by the individual calculated for 1 year based on-- (I) in the case of a worker described in subsection (a)(2)(A)(ii)(I), the annual rate of wages of the individual for the position to which the termination or impact involved applies as of the date of such termination or impact; or (II) in the case of a worker described in subsection (a)(2)(B), the annual rate of wages of the individual for the position described in such subsection as of the date on which the worker applies for participation in the Program. (C) State or local government employers.-- (i) In general.--If an individual described in subparagraph (A) is placed in qualified employment with a State or local government, the Secretary shall, for a period of 5 years beginning on the date of the placement, pay to the corresponding government 25 percent of the cost of their wages and fringe benefits. (ii) Nondisplacement.--A State or local government shall not receive payments under clause (i) with respect to an individual described in subparagraph (A) placed in qualified employment with the State or local government if-- (I) employing the individual will result in the layoff or partial displacement (such as a reduction in hours, wages, or employment benefits) of an existing employee or position of the employer; (II) the individual will assume any of the duties or responsibilities of an employee who is participating in a strike, collective bargaining, or activities for representation by a labor organization; (III) employing the individual infringes upon the promotional opportunities of an existing employee of the employer; or (IV) the individual will perform the same work or substantially the same work as that performed by any employee who has been laid off or partially displaced and has not received an offer from the employer to be restored to the position the employee had immediately prior to being laid off or partially displaced. (D) Collective bargaining agreements.--In the case an individual described in subparagraph (A) is placed in qualified employment in position that is covered by a collective bargaining agreement, nothing in this section shall alter the applicability of any wage or benefit requirements of such collective bargaining agreement with respect to such position. (6) Period.--Except as provided in paragraph (5), a participant may participate in the Program, and receive the services and support described in this subsection for a participant, for not more than 3 years. (7) Loans and grants from the small business administration.--For purposes of subparagraphs (A) and (B)(ii)(II) of paragraph (1), an individual who receives a loan or grant from the Small Business Administration, including under the business loan and microloan programs established under subsections (a) and (m), respectively, of section 7 of the Small Business Act (15 U.S.C. 636), shall be deemed, for the 1-year period following the receipt of such loan or grant, to be actively seeking employment. (e) Advisory Committee.-- (1) Establishment.--The Secretary shall establish in the Department of Labor the Worker Adaptation and Training Advisory Committee (referred to in this section as the ``Committee''). (2) Membership.--The Committee shall be composed of-- (A) 3 representatives of labor organizations, appointed by the Secretary; (B) 2 representatives of businesses, with management authority, appointed by the Secretary; (C) 2 representatives from State boards or local boards; (D) the Director of the Office of Personnel Management; (E) the Director of the National Institute of Standards and Technology; and (F) the Director of the National Science Foundation. (3) Duties.--The Committee shall make recommendations to the Secretary on the placement of workers in retraining projects under the Program. (4) Personnel matters.-- (A) Compensation of members.--Except as provided in subparagraph (B), no member of the Committee may be compensated for their service on the Committee. (B) Travel expenses.--A member of the Committee shall be allowed travel expenses, including per diem in lieu of subsistence, at rates authorized for employees of agencies under subchapter I of chapter 57 of title 5, United States Code, while away from their homes or regular places of business in the performance of services for the Committee. (C) Staff.-- (i) In general.--The Committee may, without regard to the civil service laws (including regulations), appoint and terminate an executive director and such other additional personnel as may be necessary to enable the Committee to perform its duties, except that the employment of an executive director shall be subject to confirmation by the Committee. (ii) Compensation.--The Committee may fix the compensation of the executive director and other personnel without regard to chapter 51 and subchapter III of chapter 53 of title 5, United States Code, relating to classification of positions and General Schedule pay rates, except that the rate of pay for the executive director and other personnel may not exceed the rate payable for level V of the Executive Schedule under section 5316 of that title. (5) Permanent committee.--Section 1013 of title 5, United States Code, shall not apply to the Committee. (f) Direct Hire Authority.--The Secretary may appoint individuals to positions necessary to administer the Program without regard to any of sections 3309 through 3318 of title 5, United States Code. (g) State Unemployment Insurance Records.--For purposes of assisting in eligibility determinations and calculating payments under this section, the Secretary shall obtain and use quarterly wage information from State unemployment insurance wage records. (h) Metrics System.--The Secretary shall establish a metrics system for measuring the success of the Program. (i) Authorization of Appropriations.-- (1) In general.--There is authorized to be appropriated to carry out this section $60,000,000,000 for each fiscal year. (2) Reservation.--Of the amount appropriated under paragraph (1) for a fiscal year, the Secretary shall reserve not more than 5 percent to administer the Program, including for entering into agreements with State agencies, State boards, local boards, and one-stop operators for intake, counseling, and other services and support under this section. (j) Amendment to Workforce Innovation and Opportunity Act.--Section 121(b)(1)(B) of the Workforce Innovation and Opportunity Act (29 U.S.C. 3151(b)(1)(B)) is amended-- (1) in clause (xii), by striking ``; and'' and inserting a semicolon; (2) in clause (xiii), by striking the period at the end and inserting ``; and''; and (3) by adding at the end the following: ``(xiv) services and support provided through the Worker Adaptation and Training Program under section 4 of the FUTURE of Workers Act.''. SEC. 5. FEDERAL WORKFORCE. (a) Identification of High-Demand Position Classifications and Occupational Skill Gaps.--Not later than 120 days after the date of enactment of this Act, and annually thereafter, the Director of the Office of Personnel Management, in conjunction with the Secretary of Labor, shall identify high-demand Federal position classifications, such as technology services, and occupational skill gaps in the Federal workforce in order to facilitate the placement of participants in the Worker Adaptation and Training Program in civil service positions. (b) Assistance for Job Applicants.--The Director of the Office of Personnel Management shall work with the Secretary of Labor to assist participants in the Worker Adaptation and Training Program in applying for civil service positions. SEC. 6. PRIORITIZATION OF PARTICIPANTS IN SMALL BUSINESS PROGRAMS. (a) In General.--The Administrator of the Small Business Administration shall prioritize participants in the Worker Adaptation and Training Program when considering applications for loans and grants from the Administration, including under the business loan and microloan programs established under subsections (a) and (m), respectively, of section 7 of the Small Business Act (15 U.S.C. 636). (b) Set-Aside.--In each fiscal year, the Administrator of the Small Business Administration shall set aside 1.5 percent of amounts appropriated to carry out the business loan program under section 7(a) of the Small Business Act (15 U.S.C. 636(a)) to provide assistance to participants in the Worker Adaptation and Training Program. SEC. 7. COVERED TECHNOLOGY IMPACT REPORTS. (a) In General.--Not later than 1 year after the date of enactment of this Act, and annually thereafter, the Commissioner of Labor Statistics, in consultation with the Assistant Secretary of Labor for Employment and Training, the Director of the National Institute of Standards and Technology, the Director of the National Science Foundation, and the Director of the Bureau of Economic Analysis, shall publish, and submit to Congress, a report regarding the adoption of covered technology, including-- (1) occupational employment trends, as determined by the Commissioner of Labor Statistics; (2) a list of at-risk occupations, as determined by the Commissioner of Labor Statistics, organized by risk level categories reflecting near-term, mid-term, and long-term projections; (3) a list of demographics most likely to be impacted by the adoption of covered technology, as determined by the Commissioner of Labor Statistics, including demographics with respect to protected classes, educational level of attainment, geographic location, and earnings; (4) information on consequences of job displacement due to the adoption of covered technology, as determined by the Commissioner of Labor Statistics, including on-- (A) employment status or retraining after such displacement; and (B) changes in position, field of work, or earnings after such displacement; (5) information on anticipated advancements in technology adoption that may shape employment and hiring trends; (6) a list of the fastest-growing occupations in the United States during the preceding year that are-- (A) resilient to displacement or reduced work opportunities as a result of the adoption of covered technology; and (B) relevant to the national and technological competitiveness of the United States; and (7) recommendations for actions to be taken by Congress to better inform workforce development and employment policies, including for purposes of identifying-- (A) work skills and occupations that are resilient against the negative impacts of the adoption of covered technology; (B) best practices for skills training efforts and initiatives by employers that enable workers to successfully transition to new positions within workplaces; (C) best practices for skills training efforts and initiatives that enable workers to successfully transition to new positions following a layoff from a prior position; and (D) best practices for mitigating displacement- related hardships on workers. (b) Definitions.--In this section: (1) At-risk occupation.--The term ``at-risk occupation'' means a category of jobs or professions that is considered highly susceptible to displacement by the adoption of covered technology. (2) Protected class.--The term ``protected class'' means a group of individuals sharing a common characteristic or identity who are legally protected against discrimination under-- (A) title VII of the Civil Rights Act of 1964 (42 U.S.C. 2000e et seq.); (B) title I of the Americans with Disabilities Act of 1990 (42 U.S.C. 12111 et seq.); or (C) the Age Discrimination in Employment Act of 1967 (29 U.S.C. 621 et seq.). SEC. 8. EXPANSION OF WARN ACT NOTICES. (a) Contents of Notice of Plant Closing or Mass Layoff.--Section 3 of the Worker Adjustment and Retraining Notification Act (29 U.S.C. 2102) is amended by adding at the end the following: ``(e) Contents of Notice.--The written notice under subsection (a) shall-- ``(1) disclose whether the plant closing or mass layoff is substantially due to the adoption of covered technology (as defined in section 2 of the FUTURE of Workers Act); and ``(2) include information on employee retraining, unemployment resources, and transition resources, including support and services through the Worker Adaptation and Training Program under section 4 of such Act.''. (b) Increase in Notification Period.--The Worker Adjustment and Retraining Notification Act (29 U.S.C. 2101 et seq.) is amended-- (1) in section 3 (29 U.S.C. 2102)-- (A) in subsection (a), by striking ``60-day'' and inserting ``120-day''; and (B) in subsection (b)-- (i) in paragraph (1), by striking ``60- day'' and inserting ``120-day''; and (ii) in paragraph (2)(A), by striking ``60- day'' and inserting ``120-day''; and (2) in section 5(a)(1) (29 U.S.C. 2104(a)(1)), in the matter following subparagraph (B), by striking ``60 days'' and inserting ``120 days''. (c) Applicability.--The amendments made by this section shall apply with respect to any plant closing or mass layoff that occurs 180 days after the date of enactment of this Act. SEC. 9. EMPLOYER-PROVIDED UPSKILLING CREDIT. (a) In General.-- (1) Determination of credit.--Subpart D of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by adding at the end the following new section: ``SEC. 45BB. EMPLOYEE UPSKILLING CREDIT. ``(a) In General.--For purposes of section 38, the employee upskilling credit determined under this section for any taxable year is an amount equal to 25 percent of qualified training expenditures for the taxable year. ``(b) Qualified Training Expenditures.-- ``(1) In general.--The term `qualified training expenditures' means any amount paid or incurred by the taxpayer for the qualified training of any employee working in an at- risk occupation to transition them to another occupation. ``(2) Exclusion.--The term `qualified training expenditures' shall not include any amount paid or incurred for meals, lodging, transportation, or any other services which are incidental to qualified training. ``(c) Other Definitions.--In this section-- ``(1) At-risk occupation.--The term `at-risk occupation' means an occupation listed in the most recently published list under section 7(a)(2) of the FUTURE of Workers Act. ``(2) Qualified training.-- ``(A) In general.--In this section, the term `qualified training' means training which results in the attainment of a recognized postsecondary credential and which is provided through-- ``(i) a registered apprenticeship, ``(ii) a program of training services which is on a State list established under section 122(d) of the Workforce Innovation and Opportunity Act (29 U.S.C. 3152(d)), ``(iii) a program which is conducted by an area career and technical education school, a community college, or a labor organization, or ``(iv) a program which is sponsored and administered by an employer, industry trade association, industry or sector partnership, or labor organization. ``(B) Related definitions.--For purposes of subparagraph (A): ``(i) Area career and technical education school.--The term `area career and technical education school' means such a school, as defined in section 3 of the Carl D. Perkins Career and Technical Education Act of 2006 (20 U.S.C. 2302), which participates in a program under that Act (20 U.S.C. 2301 et seq.). ``(ii) Community college.--The term `community college' has the meaning given the term in section 5002 of the National Artificial Intelligence Initiative Act of 2020 (15 U.S.C. 9401). ``(iii) Industry or sector partnership.-- The term `industry or sector partnership' has the meaning given such term in section 3 of the Workforce Innovation and Opportunity Act (29 U.S.C. 3102). ``(iv) Industry trade association.--The term `industry trade association' means an organization which-- ``(I) is described in paragraph (3) or (6) of section 501(c) of the Internal Revenue Code of 1986 and exempt from taxation under section 501(a) of such Code, and ``(II) is representing an industry. ``(v) Labor organization.--The term `labor organization' means a labor organization, within the meaning of the term in section 501(c)(5) of the Internal Revenue Code of 1986. ``(vi) Recognized postsecondary credential.--The term `recognized postsecondary credential' means a credential consisting of an industry-recognized certificate or certification, a certificate of completion of a registered apprenticeship, a license recognized by the State involved or Federal Government, or an associate or baccalaureate degree. ``(vii) Registered apprenticeship.--The term `registered apprenticeship' means an apprenticeship registered under the Act of August 16, 1937 (commonly known as the `National Apprenticeship Act'; 50 Stat. 664, chapter 663; 29 U.S.C. 50 et seq.).''. (2) Credit part of general business credit.--Section 38(b) of the Internal Revenue Code of 1986 is amended by striking ``plus'' at the end of paragraph (40), by striking the period at the end of paragraph (41) and inserting ``, plus'', and by adding at the end the following new paragraph: ``(42) the employee upskilling credit determined under section 45BB(a).''. (3) Clerical amendment.--The table of sections for subpart D of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by adding at the end the following new item: ``Sec. 45BB. Employee upskilling credit.''. (b) Credit Allowed Against Alternative Minimum Tax.--Subparagraph (B) of section 38(c)(4) of the Internal Revenue Code of 1986 is amended-- (1) by redesignating clauses (x), (xi), and (xii) as clauses (xi), (xii), and (xiii), respectively, and (2) by inserting after clause (ix) the following new clause: ``(x) the credit determined under section 45BB with respect to an eligible small business (as defined in paragraph (5)(A), after application of rules similar to the rules of paragraph (5)(B)),''. (c) Regulations Relating to Postsecondary Credentials.--Not later than 1 year after the date of enactment of this Act-- (1) the Secretary of Labor, in consultation with the Secretary of the Treasury, shall issue regulations or other guidance applying the definition of the term ``recognized postsecondary credential'' as provided in section 3 of the Workforce Innovation and Opportunity Act (29 U.S.C. 3102); and (2) the Secretary of the Treasury, in consultation with the Secretary of Labor, shall issue regulations or other guidance applying the definition of the term ``recognized postsecondary credential'' as provided in section 45BB(c)(2)(B) of the Internal Revenue Code of 1986. (d) Effective Date.--The amendments made by this section shall apply to taxable years beginning after the date of enactment of this Act. SEC. 10. WORKPLACE DEVELOPMENT MODERNIZATION. (a) In General.--The Secretary of Labor shall-- (1) to the extent feasible, provide virtual opportunities for individuals to participate online in workforce training programs of the Department of Labor in order to expand the reach of resources provided by such programs; and (2) in conjunction with the Secretary of Commerce and industry and nonprofit groups determined relevant by the Secretary of Labor, provide additional online resources for job seekers that are available on the website of the Department of Labor. (b) Rule of Construction.--Nothing in this section shall affect any regulatory requirement pursuant to the Wagner-Peyser Act (29 U.S.C. 49 et seq.) addressing the provision of employment services by employees under a merit system. SEC. 11. EXCISE TAX ON ARTIFICIAL INTELLIGENCE SERVICES; WORKER ADAPTATION TRUST FUND. (a) Excise Tax.--Subtitle D of the Internal Revenue Code of 1986 is amended by adding at the end the following new chapter: ``CHAPTER 50B--ARTIFICIAL INTELLIGENCE SERVICES ``Sec. 5000E. Tax on artificial intelligence services. ``SEC. 5000E. TAX ON ARTIFICIAL INTELLIGENCE SERVICES. ``(a) Imposition of Tax.--In the case of a covered person, there is imposed a tax for each calendar year in an amount equal to the sum of-- ``(1) 4 percent of so much of the United States AI receipts of such person for such calendar year as exceeds $50,000,000 but does not exceed $500,000,000, ``(2) 6 percent of so much of such receipts as exceeds $500,000,000 but does not exceed $5,000,000,000, plus ``(3) 8 percent of so much of such receipts as exceeds $5,000,000,000. ``(b) Phase-In.--In the case of the first calendar year beginning after the date of the enactment of this section, subsection (a) shall be applied by substituting `2 percent', `3 percent', and `4 percent' for `4 percent', `6 percent', and `8 percent', respectively. ``(c) Definitions.--For purposes of this section-- ``(1) Covered artificial intelligence model.--The term `covered artificial intelligence model' means a model developed through artificial intelligence (as defined in section 5002 of the National Artificial Intelligence Initiative Act of 2020 (15 U.S.C. 9401)) and trained using a quantity of computing power greater than or equal to 10\2\<SUP>5</SUP> integer or floating- point operations, as adjusted annually by the Secretary, in coordination with the Secretary of Commerce, to reflect changes in the efficiency of training methods. Such term includes any model the Secretary determines demonstrates capabilities substantially equivalent to models otherwise described in this paragraph. ``(2) Covered person.--The term `covered person' means any person engaged in a trade or business of providing qualifying artificial intelligence services to United States customers, determined without regard to the place of organization, incorporation, residence, or management of such person. All persons treated as a single employer under subsection (a) or (b) of section 52 shall be treated as 1 person for purposes of this section. ``(3) Qualifying artificial intelligence services.--The term `qualifying artificial intelligence services' means-- ``(A) providing access to a covered artificial intelligence model, including through an application programming interface or a paid subscription, ``(B) licensing, deploying, hosting, integrating, or operating a covered artificial intelligence model for, or on behalf of, another person, and ``(C) any other service the commercial value of which is substantially attributable to a covered artificial intelligence model, as determined by the Secretary, except that such term shall not include any service with respect to which functionality attributable to a covered artificial intelligence model is incidental to the primary value of the offering. ``(4) United states ai receipts.-- ``(A) In general.--The term `United States AI receipts' means gross receipts derived from qualifying artificial intelligence services provided to United States customers, reduced by amounts paid or incurred to another covered person with United States AI receipts in excess of $50,000,000 for qualifying artificial intelligence services resold, or incorporated into qualifying artificial intelligence services provided, to United States customers. ``(B) Exception.--The term `United States AI receipts' shall not include amounts received under a contract with the Federal Government for the provision of qualifying artificial intelligence services to the Federal Government. ``(5) United states customer.--The term `United States customer' means any person with respect to which the service involved is primarily used or consumed in the United States, as determined under regulations or other guidance prescribed by the Secretary. ``(d) Exemption.--No tax shall be imposed under this section on-- ``(1) any organization exempt from tax under section 501(a), or ``(2) any institution of higher education (as defined in section 101 or 102 of the Higher Education Act of 1965 (20 U.S.C. 1001, 1002)). ``(e) Payment; Returns.--The tax imposed by subsection (a) shall be paid in quarterly installments at such times, and reported on such returns and in such manner, as the Secretary shall prescribe. No return shall be required of any covered person with no liability under subsection (a) for the calendar year. ``(f) Regulations.--The Secretary shall prescribe such regulations and other guidance as may be necessary to carry out this section, including regulations providing for-- ``(1) the allocation of the tax imposed by subsection (a) among persons treated as 1 person under subsection (c)(2), ``(2) the attribution of gross receipts in the case of offerings with both qualifying and non-qualifying components, and ``(3) the prevention of avoidance of this section through the fragmentation of activities, the restructuring of customer arrangements, or the mischaracterization of receipts.''. (b) Denial of Deduction.--Section 275(a) of the Internal Revenue Code of 1986 is amended by inserting after paragraph (6) the following new paragraph: ``(7) Taxes imposed by chapter 50B.''. (c) Worker Adaptation Trust Fund.--Subchapter A of chapter 98 of the Internal Revenue Code of 1986 is amended by adding at the end the following new section: ``SEC. 9512. WORKER ADAPTATION TRUST FUND. ``(a) Creation of Trust Fund.--There is established in the Treasury of the United States a trust fund to be known as the `Worker Adaptation Trust Fund', consisting of such amounts as may be appropriated or credited to such Trust Fund as provided in this section or section 9602(b). ``(b) Transfers to Trust Fund.--There are hereby appropriated to the Worker Adaptation Trust Fund amounts equivalent to the taxes received in the Treasury under section 5000E. ``(c) Expenditures.--Amounts in the Worker Adaptation Trust Fund shall be available, as provided in appropriation Acts-- ``(1) to carry out the Worker Adaptation and Training Program established under section 4 of the FUTURE of Workers Act, and ``(2) to the extent amounts in the Trust Fund for a fiscal year exceed the amounts necessary for the purpose described in paragraph (1) for such fiscal year, for supplemental child care, elder care, and workforce development programs serving populations affected by automation technologies or artificial intelligence.''. (d) Clerical Amendments.-- (1) The table of chapters for subtitle D of the Internal Revenue Code of 1986 is amended by adding at the end the following new item: ``Chapter 50B--Artificial Intelligence Services''. (2) The table of sections for subchapter A of chapter 98 of such Code is amended by adding at the end the following new item: ``Sec. 9512. Worker adaptation trust fund''. (e) Effective Date.--The amendments made by this section shall apply to calendar years beginning after the date of the enactment of this Act. SEC. 12. WORKER ADAPTATION CONTRIBUTIONS; EXCESS DISPLACEMENT ACCOUNTABILITY. (a) Worker Adaptation Contributions.--Subtitle C of the Internal Revenue Code of 1986 is amended by inserting after chapter 23A the following new chapter: ``CHAPTER 23B--WORKER ADAPTATION CONTRIBUTIONS ``Sec. 3324. Worker adaptation contribution. ``SEC. 3324. WORKER ADAPTATION CONTRIBUTION. ``(a) Imposition.--There is hereby imposed on every covered employer for each calendar quarter a contribution equal to the product of-- ``(1) the applicable contribution rate of such employer for such quarter, and ``(2) the total wages paid by such employer during such quarter with respect to employment within the United States. ``(b) Applicable Contribution Rate.--For purposes of this section-- ``(1) In general.--The applicable contribution rate of a covered employer for each calendar quarter of a calendar year is the displacement ratio of such employer for the computation period applicable to such calendar year, rounded to the nearest \1/10\ of 1 percent, except that such rate shall not exceed the maximum rate. ``(2) Displacement ratio.--The term `displacement ratio' means, with respect to an employer for any period, the ratio of-- ``(A) the aggregate amounts charged to such employer under subsection (d) for such period, to ``(B) the total wages paid by such employer during such period. ``(3) Computation period.--The term `computation period' means, with respect to any calendar year, the 12-calendar- quarter period ending on June 30 of the preceding calendar year. ``(4) Maximum rate.--The term `maximum rate' means 2 percent. ``(5) Employers without chargeable experience.--The applicable contribution rate of a covered employer to which no amount has been charged under subsection (d) for the computation period shall be zero. ``(6) Notice of rates.--Not later than October 15 of each calendar year, the Secretary shall notify each covered employer of the applicable contribution rate of such employer for the following calendar year. ``(c) Definitions.--For purposes of this chapter-- ``(1) Covered employer.--The term `covered employer' means any employer other than a small business concern, as defined in section 5000F(h). ``(2) Covered worker.--The term `covered worker' means a covered worker (as defined in section 4(a) of the FUTURE of Workers Act) who is described in paragraph (2)(A)(ii)(I) of such section and was terminated as described in such paragraph by a covered employer. ``(3) Employer; employment.--The respective meaning of the terms `employer' and `employment' shall be determined under rules similar to the rules of section 3121. ``(4) Responsible employer.--The term `responsible employer' means the covered employer that terminated a covered worker as described in section 4(a)(2)(A)(ii)(I) of the FUTURE of Workers Act, as identified in the worker's attestation under section 4(a)(2)(A) of the FUTURE of Workers Act and verified in such manner as the Secretary of Labor shall prescribe. ``(5) Wages.--The term `wages' has the meaning given such term by section 3121(a), determined without regard to any dollar limitation on the amount of remuneration treated as wages. ``(d) Charging.-- ``(1) In general.--There shall be charged to each responsible employer the costs of the benefits and services provided under section 4 of the FUTURE of Workers Act to each covered worker, with respect to the responsible employer, determined eligible for such benefits and services under such section, as certified by the Secretary of Labor to the Secretary at such times and in such manner as such Secretaries shall jointly prescribe. ``(2) Noncharging.--No amount shall be charged under this subsection with respect to a termination-- ``(A) attributable to the sale or divestiture of a trade or business (or a substantial portion thereof), except as provided by the Secretary of Labor to prevent the avoidance of this section, ``(B) occurring while the employer is a debtor in a case under title 11, United States Code, or ``(C) attributable to natural disaster or such other circumstances beyond the control of the employer as the Secretary of Labor may prescribe. ``(3) Notice and opportunity to contest.--The Secretary of Labor shall provide each responsible employer notice of each charge proposed under this subsection and an opportunity to contest, in such manner and within such time as the Secretary of Labor shall prescribe, whether the termination involved is chargeable to such employer, including on the ground that the termination was not attributable to covered technology as defined in section 2 of the FUTURE of Workers Act or that the worker was not terminated from such employer. Any charge not successfully contested shall be final for purposes of this section. ``(4) Quarterly statements of charges.--The Secretary of Labor shall provide to each responsible employer, not later than 45 days after the close of each calendar quarter, a statement of the amounts charged to such employer under this subsection for such quarter. ``(e) Protection of Workers.--No determination with respect to the eligibility of any worker for, or the amount or timing of, any benefit or service under section 4 of the FUTURE of Workers Act shall be delayed, conditioned, or reduced by reason of any dispute or contest concerning the charging of costs under this section, and the resolution of any such dispute or contest shall affect only the charging of costs to the responsible employer and not the entitlement of any worker to any such benefit or service. ``(f) Successorship; Anti-Manipulation.-- ``(1) Transfer of experience.--If an employer transfers its trade or business (or a portion thereof) to another person, and there is substantially common ownership, management, or control of the transferor and transferee, the charging experience and wage history attributable to the transferred trade or business shall be transferred to the transferee. In any other transfer of a trade or business, such experience and history shall be transferred to the extent provided by the Secretary. ``(2) Prohibited rate manipulation.--If a person transfers or acquires a trade or business solely or primarily for the purpose of obtaining a lower applicable contribution rate, the applicable contribution rate of each person party to the transaction shall be determined without regard to the transaction, and each such person shall pay a penalty of $10,000 for each calendar quarter to which such determination applies. ``(3) Aggregation.--All persons treated as a single employer under subsection (a) or (b) of section 52, or subsection (m) or (o) of section 414, shall be treated as 1 employer for purposes of this chapter. ``(g) Election by Nonprofit and Governmental Employers To Reimburse in Lieu of Contributions.-- ``(1) In general.--Any entity described in paragraph (2) may elect, at such time and in such manner as the Secretary shall prescribe, to pay for each calendar quarter, in lieu of the contribution imposed by subsection (a), an amount equal to the amounts charged to such employer under subsection (d) for such quarter. ``(2) Entity described.--An entity described in this paragraph is-- ``(A) an organization which is described in section 501(c)(3) and exempt from tax under section 501(a), or ``(B) a State, a political subdivision of a State, an Indian tribe (as defined in section 45A(c)(6)), a Native Hawaiian organization (as defined in section 6207 of the Native Hawaiian Education Act (20 U.S.C. 7517)), or an instrumentality of any of the foregoing. ``(3) Treatment of payments.--Amounts payable under paragraph (1) shall be assessed, collected, deposited, and administered in the same manner as contributions imposed by subsection (a), except that the maximum rate shall not apply to such amounts. ``(4) Duration.--An election under this subsection shall remain in effect for not fewer than 8 consecutive calendar quarters and thereafter until revoked in such manner as the Secretary shall prescribe. ``(5) United states.--The United States and any instrumentality thereof shall be treated as having an election in effect under this subsection. ``(6) Section 5000f inapplicable.--Section 5000F shall not apply to any employer with an election in effect under this subsection. ``(h) Payment; Returns.--Contributions imposed by this section shall be paid quarterly at the time prescribed for the return of taxes imposed by section 3111, and shall be reported on such returns and in such manner as the Secretary shall prescribe. ``(i) Deposit.--Amounts received in the Treasury under this section shall be deposited in the Worker Adaptation Trust Fund established under section 9512. ``(j) Regulations.--The Secretary, in consultation with the Secretary of Labor, shall prescribe such regulations and other guidance as may be necessary to carry out this chapter, including regulations governing the computation and notice of applicable contribution rates, the resolution of charging disputes, and the prevention of avoidance of this chapter.''. (b) Excess Displacement Accountability.--Chapter 50B of the Internal Revenue Code of 1986, as added by section 11 of this Act, is amended by adding at the end the following new section: ``SEC. 5000F. EXCESS DISPLACEMENT ACCOUNTABILITY. ``(a) Imposition of Tax.--There is hereby imposed on each employer, for each calendar quarter of the restitution period with respect to each eliminated position of such employer, a tax equal to the amount of tax that would have been imposed under sections 3111 and 3301 (determined without regard to the credits allowed under section 3302) for such quarter with respect to the baseline compensation allocable to such position if such position had not been eliminated. ``(b) Reduction in Tax.--The aggregate tax imposed by subsection (a) on an employer for any calendar quarter shall be reduced (but not below zero) by the amount of contributions paid by the employer under section 3324 for such quarter. ``(c) Definitions.--For purposes of this section-- ``(1) Restitution period.--The term `restitution period' means, with respect to an eliminated position, the 5-year period beginning on the date of the elimination of such position, reduced as provided in subsection (d). ``(2) Eliminated position.-- ``(A) In general.--The term `eliminated position' means each domestic full-time equivalent position by which the domestic full-time equivalent employment of an employer during a saturation period falls below the domestic full-time equivalent employment of such employer as of the first day of such saturation period, identified, and determined with appropriate adjustments for seasonal variation, under regulations prescribed by the Secretary. ``(B) Contractor substitution.--The termination of employees accompanied by the substitution of independent contractors, or of workers provided by a staffing or outsourcing agency, performing substantially similar services shall be treated as an elimination of positions and shall not be treated as a restoration. ``(C) Baseline compensation.--The term `baseline compensation' means, with respect to an eliminated position, the annual rate of wages and benefits in effect for such position on the date of the elimination. ``(D) Domestic full-time equivalent employment.-- The domestic full-time equivalent employment of an employer shall be determined under regulations prescribed by the Secretary, on the basis of hours of service of employees within the United States. ``(3) Saturation period.-- ``(A) In general.--The term `saturation period' means any period of 1 or more consecutive calendar years for each of which the uncapped displacement ratio of the employer exceeds the maximum rate (as defined in section 3324(b)(4)). ``(B) Uncapped displacement ratio.--The term `uncapped displacement ratio' means, for any calendar year, the displacement ratio determined under section 3324(b)(2) for the computation period applicable to such calendar year, determined without regard to the maximum rate. ``(d) Abatement Upon Restoration.-- ``(1) In general.--For each domestic full-time equivalent position restored by the employer at an annual rate of wages and benefits equal to or greater than the baseline compensation of an eliminated position (matched under regulations prescribed by the Secretary), no tax shall be imposed under subsection (a) with respect to such eliminated position for calendar quarters beginning after the date of the restoration. ``(2) Sustained restoration; recapture.--Paragraph (1) shall apply with respect to a restored position only if such position is maintained for 4 consecutive calendar quarters. If a restored position is eliminated during the 24-month period beginning on the date of the restoration, any amount not imposed by reason of paragraph (1) shall be assessed, with interest determined under section 6621, and the restitution period with respect to such position shall be applied without regard to the period of the restoration. ``(e) Additional Corporate Surtax During Saturation.--In the case of an employer which is a C corporation, for each of the 3 taxable years beginning with the taxable year in which a saturation period of such employer begins, the tax imposed by chapter 1 shall be increased by an amount equal to the sum of-- ``(1) 2 percent of so much of the taxable income of such employer for the taxable year as does not exceed $100,000,000, ``(2) 4 percent of so much of such taxable income as exceeds $100,000,000 but does not exceed $1,000,000,000, and ``(3) 6 percent of so much of such taxable income as exceeds $1,000,000,000. ``(f) Recapture of Accelerated Cost Recovery.-- ``(1) In general.--The tax imposed by chapter 1 on an employer for the taxable year in which a saturation period of such employer begins shall be increased by the aggregate excess of-- ``(A) the deductions allowed by reason of sections 168(k) and 179 with respect to automation assets placed in service by the employer during the 5-taxable-year period ending with such taxable year (other than any asset previously taken into account under this subsection), over ``(B) the deductions that would have been allowed with respect to such assets for such period under the alternative depreciation system of section 168(g). ``(2) Basis adjustment.--Proper adjustment shall be made to the basis of any asset to which paragraph (1) applies, under regulations prescribed by the Secretary. ``(3) Automation asset.--The term `automation asset' means property (whether tangible or intangible, whether or not owned by the taxpayer, and including rights of use or access under a license, subscription, or service arrangement) the primary function of which is to perform, through automation technologies or artificial intelligence (as defined in section 5002 of the National Artificial Intelligence Initiative Act of 2020 (15 U.S.C. 9401)), 1 or more tasks previously performed by employees of the taxpayer, including autonomous industrial robotics, systems incorporating a covered artificial intelligence model (as defined in section 5000E(c)(5)), and autonomous logistics systems. ``(g) Aggregation; Anti-Arbitrage.--Rules similar to the rules of section 3324(f) shall apply for purposes of this section, and any transfer of automation assets, functions, or employees between persons treated as 1 employer under such rules shall be disregarded in determining the occurrence or duration of a saturation period and the identification of eliminated positions. ``(h) Exemption for Small Business Concerns.--This section shall not apply to any person that is a small business concern (within the meaning of section 3 of the Small Business Act (15 U.S.C. 632)). ``(i) Payment; Returns.--The tax imposed by subsection (a) shall be paid quarterly at the time prescribed for the return of taxes imposed by section 3111, and shall be reported on such returns and in such manner as the Secretary shall prescribe. ``(j) Deposit of Amounts.--The portion of the amounts received in the Treasury under this section which is attributable to the taxes described in section 3111 shall be credited to the Federal Old-Age and Survivors Insurance Trust Fund, the Federal Disability Insurance Trust Fund, and the Federal Hospital Insurance Trust Fund in the same manner as if such amounts were taxes received under such section, and the remainder shall be deposited in the Worker Adaptation Trust Fund established under section 9512. ``(k) Regulations.--The Secretary, in consultation with the Secretary of Labor, shall prescribe such regulations and other guidance as may be necessary to carry out this section, including regulations governing the identification and matching of eliminated and restored positions, the determination of wage and benefit equivalence, and the prevention of avoidance of this section.''. (c) Denial of Accelerated Cost Recovery During Saturation Periods.-- (1) Bonus depreciation.--Section 168(k)(2) of the Internal Revenue Code of 1986 is amended by adding at the end the following new subparagraph: ``(I) Exclusion of certain automation assets.--The term `qualified property' shall not include any automation asset (as defined in section 5000F(f)(3)) placed in service during a saturation period (as defined in section 5000F(c)) of the taxpayer.''. (2) Alternative depreciation system required.--Section 168(g)(1) of such Code is amended by striking ``and'' at the end of subparagraph (F), by inserting ``and'' at the end of subparagraph (G), and by inserting after subparagraph (G) the following new subparagraph: ``(H) any automation asset (as defined in section 5000F(f)(3)) placed in service during a saturation period (as defined in section 5000F(c)) of the taxpayer,''. (3) Section 179 property.--Section 179(d)(1) of such Code is amended by adding at the end the following: ``Such term shall not include any automation asset (as defined in section 5000F(f)(3)) placed in service during a saturation period (as defined in section 5000F(c)) of the taxpayer.''. (d) Information Sharing.-- (1) Certification by the secretary of labor.--The Secretary of Labor shall certify to the Secretary of the Treasury, at such times and in such manner as such Secretaries shall jointly prescribe, the eligibility determinations, charges, and terminations determined under section 4 of this Act and section 3324 of the Internal Revenue Code of 1986 (as added by this section). (2) Disclosure of return information.--Section 6103(l) of the Internal Revenue Code of 1986 is amended by adding at the end the following new paragraph: ``(23) Disclosure of return information for administration of worker adaptation contributions.-- ``(A) In general.--The Secretary may, upon written request from the Secretary of Labor, disclose to officers and employees of the Department of Labor return information with respect to any employer or worker (including taxpayer identity information, information on wages reported under section 6051, and information with respect to contributions and charges under chapter 23B) only for purposes of, and to the extent necessary in, the administration of section 3324 and section 4 of the FUTURE of Workers Act, including the verification of worker attestations and the determination and charging of costs under section 3324(c). ``(B) Restriction on use and redisclosure.--Return information disclosed under subparagraph (A) may be used by officers and employees of the Department of Labor only for the purposes described in such subparagraph and may not be disclosed to any other person except as otherwise authorized by this section.''. (3) Safeguards.--Section 6103(p)(4) of such Code is amended by inserting ``, (l)(23)'' after ``(l)(22)'' each place it appears. (e) Clerical Amendments.-- (1) The table of chapters for subtitle C of the Internal Revenue Code of 1986 is amended by inserting after the item relating to chapter 23A the following new item: ``CHAPTER 23B--WORKER ADAPTATION CONTRIBUTIONS''. (2) The table of sections for chapter 50B of such Code, as added by section 11 of this Act, is amended by adding at the end the following new item: ``SEC. 5000F. EXCESS DISPLACEMENT ACCOUNTABILITY.''. (f) Effective Dates.-- (1) Contributions.--The amendments made by subsection (a) shall apply to calendar years beginning after the date that is 1 year after the date of the enactment of this Act. (2) Excess displacement accountability.--The amendments made by subsections (b) and (c) shall apply to saturation periods beginning after the date described in paragraph (1), except that no automation asset placed in service on or before the date of the enactment of this Act shall be taken into account under section 5000F(f) of the Internal Revenue Code of 1986, as added by this section. <all>