SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Economic Revitalization Act''.

SEC. 2. ECONOMIC REVITALIZATION ZONES.

    (a) In General.--Chapter 1 of the Internal Revenue Code of 1986 is 
amended by adding at the end the following new subchapter:

             ``Subchapter Z--Economic Revitalization Zones

                              ``Sec. 1400M. Designation of economic 
                                        revitalization zones.
                              ``Sec. 1400N. Incentives for economic 
                                        revitalization zones.

``SEC. 1400M. DESIGNATION OF ECONOMIC REVITALIZATION ZONES.

    ``(a) Designation.--
            ``(1) Definitions.--For purposes of this title, the term 
        `economic revitalization zone' means any area--
                    ``(A) which is nominated by 1 or more local 
                governments and the State or States in which it is 
                located for designation as an economic revitalization 
                zone (hereafter in this section referred to as a 
                `nominated area'), and
                    ``(B) which the Secretary of Labor designates as an 
                economic revitalization zone.
            ``(2) Number of designations.--Not more than 10 nominated 
        areas may be designated as economic revitalization zones.
            ``(3) Limitation on designations.--
                    ``(A) Publication of regulations.--The Secretary of 
                Labor shall prescribe by regulation no later than 3 
                months after the date of the enactment of this 
                section--
                            ``(i) the procedures for nominating an area 
                        under paragraph (1)(A), and
                            ``(ii) the parameters relating to the size 
                        characteristics of an economic revitalization 
                        zone.
                    ``(B) Time limitations.--The Secretary of Labor may 
                designate nominated areas as economic revitalization 
                zones only during the 180-day period beginning on the 
                first day of the first month following the month in 
                which the regulations described in subparagraph (A) are 
                prescribed.
                    ``(C) Procedural rules.--The Secretary of Labor 
                shall not make any designation of a nominated area as 
                an economic revitalization zone under paragraph (2) 
                unless--
                            ``(i) the local governments and the States 
                        in which the nominated area is located have the 
                        authority to nominate such area for designation 
                        as an economic revitalization zone,
                            ``(ii) a nomination regarding such area is 
                        submitted in such a manner and in such form, 
                        and contains such information, as the Secretary 
                        of Labor shall by regulation prescribe, and
                            ``(iii) the Secretary of Labor determines 
                        that any information furnished is reasonably 
                        accurate.
            ``(4) Priority.--The Secretary of Labor shall give priority 
        to nominated areas which--
                    ``(A) are located in States that have experienced 
                employment in a trade-affected industry decline by more 
                than 50 percent since 1993, and
                    ``(B) have suffered the loss of more than 1000 jobs 
                in the trade-affected industry within the preceding 
                year.
    ``(b) Period for Which Designation Is in Effect.--
            ``(1) In general.--Any designation of an area as an 
        economic revitalization zone shall remain in effect during the 
        period beginning on the earliest practicable date, as 
        determined by the Secretary of Labor, and ending on the 
        earliest of--
                    ``(A) December 31, 2014,
                    ``(B) the termination date designated by the State 
                and local governments in their nomination, or
                    ``(C) the date the Secretary of Labor revokes such 
                designation under the terms of paragraph (2) or after 
                determining that such revocation is necessary to 
                protect the public interest.
            ``(2) Revocation of designation.--The Secretary of Labor 
        may revoke the designation under this section of an area if 
        such Secretary determines that the local government or the 
        State in which the area is located has modified the boundaries 
        of the area.
    ``(c) Area and Eligibility Requirements.--
            ``(1) In general.--The Secretary of Labor may designate a 
        nominated area as an economic revitalization zone under 
        subsection (a) only if the area meets the requirements of 
        paragraphs (2) and (3) of this subsection.
            ``(2) Area requirements.--A nominated area meets the 
        requirements of this paragraph if--
                    ``(A) the area is within the jurisdiction of 1 or 
                more local governments in 1 or more trade-affected 
                States, and
                    ``(B) the boundary of the area is continuous.
            ``(3) Eligibility requirements.--A nominated area meets the 
        requirements of this paragraph if the States and the local 
        governments in which it is located certify in writing (and the 
        Secretary of Labor, after such review of supporting data as the 
        Secretary deems appropriate, accepts such certification) that--
                    ``(A) the average unemployment rate in the area for 
                the most recent period for which data is available on 
                the date of the nomination of such area is at least 150 
                percent of the average national unemployment rate for 
                such period,
                    ``(B) of the total employment in the area during 
                1993--
                            ``(i) more than 10 percent consisted of 
                        employment in a trade-affected industry located 
                        in such area, or
                            ``(ii) more than 15 percent consisted of 
                        employment in all of the trade-affected 
                        industries located in such area, and
                    ``(C) employment in a trade-affected industry 
                located in such area decreased by more than 20 percent 
                during the period from 1993 through 2002.
    ``(d) Definitions and Special Rules.--For purposes of this 
subchapter--
            ``(1) Trade-affected state.--The term `trade-affected 
        State' means any State in which the total number of workers 
        located in such State who were certified through the trade 
        adjustment assistance and the NAFTA transitional adjustment 
        assistance programs under chapter 2 of title II of the Trade 
        Act of 1974 during the period from 1994 through 2002 was not 
        less than an amount equal to 2.5 percent of the State's total 
        labor force in 1994.
            ``(2) Trade-affected industry.--The term `trade-affected 
        industry' means any industry listed in a 3-digit North American 
        industry classification system subsector--
                    ``(A) which had a total labor force of at least 
                200,000 during 1994, as determined by the Bureau of 
                Labor Statistics,
                    ``(B) in which the number of employees has declined 
                by more than 30 percent since 1993, and
                    ``(C) in which the total number of workers who were 
                certified through the trade adjustment assistance and 
                the NAFTA transitional adjustment assistance programs 
                under chapter 2 of title II of the Trade Act of 1974 
                during the period from 1994 through 2002 was not less 
                than an amount equal to 10 percent of such industry's 
                total labor force in 1994.
            ``(3) Local government.--The term `local government' 
        means--
                    ``(A) any county, city, town, township, parish, 
                village, or other general purpose political subdivision 
                of a State, and
                    ``(B) any combination of political subdivisions 
                described in subparagraph (A) recognized by the 
                Secretary of Labor.
            ``(4) Governments.--If more than 1 government seeks to 
        nominate an area as an economic revitalization zone, any 
        reference to, or requirement of, this section shall apply to 
        all such governments.

``SEC. 1400N. INCENTIVES FOR ECONOMIC REVITALIZATION ZONES.

    ``(a) In General.--An economic revitalization zone shall be treated 
for the period of its designation as an empowerment zone for purposes 
of applying--
            ``(1) section 1394 (relating to tax-exempt enterprise zone 
        facility bonds),
            ``(2) section 1396 (relating to empowerment zone employment 
        credit),
            ``(3) section 1397A (relating to increase in expensing 
        under section 179), and
            ``(4) section 1397B (relating to nonrecognition of gain on 
        rollover of empowerment zone investments).
    ``(b) New Markets Tax Credit.--An economic revitalization zone 
shall be treated for the period of its designation as a low-income 
community for purposes of applying section 45D (relating to new markets 
tax credit).''.
    (b) Clerical Amendment.--The table of subchapters for chapter 1 of 
the Internal Revenue Code of 1986 is amended by adding at the end the 
following new item:

                              ``Subchapter Z. Economic Revitalization 
                                        Zones.''.

SEC. 3. COMMUNITY COLLEGE EMPLOYMENT GRANTS.

    (a) In General.--Chapter 2 of title II of the Trade Act of 1974 (19 
U.S.C. 2271 et seq.) is amended by inserting after section 238 the 
following:

``SEC. 238A. JOB TRAINING PROGRAMS.

    ``(a) Grant Program Authorized.--The Secretary is authorized to 
award grants to community colleges (as defined in section 202 of the 
Tech-Prep Education Act (20 U.S.C. 2371)) on a competitive basis to 
establish job training programs for adversely affected workers.
    ``(b) Application.--
            ``(1) Submission.--To receive a grant under this section, a 
        community college shall submit an application to the Secretary 
        at such time and in such manner as the Secretary shall require.
            ``(2) Contents.--The application submitted under paragraph 
        (1) shall provide a description of--
                    ``(A) the population to be served with grant funds 
                received under this section;
                    ``(B) how grant funds received under this section 
                will be expended; and
                    ``(C) the job training programs that will be 
                established with grant funds received under this 
                section, including a description of how such programs 
                relate to workforce needs in the area where the 
                community college is located.
    ``(c) Eligibility.--To be eligible to receive a grant under this 
section, a community college shall be located in an economic 
revitalization zone (as defined in section 1400M(a) of the Internal 
Revenue Code of 1986, as added by section 2).
    ``(d) Decision on Applications.--Not later than 30 days after 
submission of an application under subsection (b), the Secretary shall 
approve or disapprove the application.
    ``(e) Use of Funds.--A community college that receives a grant 
under this section shall use the grant funds to establish job training 
programs for adversely affected workers.
    ``(f) Authorization of Appropriations.--There are authorized to be 
appropriated such sums as may be necessary to carry out this 
section.''.
    (b) Conforming Amendment.--The table of contents for chapter 2 of 
title II of the Trade Act of 1974 is amended by inserting after the 
item relating to section 238 the following new item:

        ``Sec. 238A. Job training programs.

SEC. 4. IMMEDIATE ASSISTANCE FOR TEXTILE WORKERS.

    Section 222 of the Trade Act of 1974 (19 U.S.C. 2272) is amended by 
adding at the end the following:
    ``(d) Additional Rule for Textile and Apparel Workers.--
            ``(1) Presumptive certification.--A group of workers at a 
        textile or apparel firm shall be presumed eligible and shall be 
        certified by the Secretary as adversely affected and eligible 
        for trade adjustment assistance under this chapter and benefits 
        under the amendments made by title II of the Trade Adjustment 
        Assistance Reform Act of 2002 (Public Law 107-210; 116 Stat. 
        954) if--
                    ``(A) a significant number or proportion of the 
                workers in the workers' firm or an appropriate 
                subdivision of the firm has become totally or partially 
                separated, or are threatened to become totally or 
                partially separated;
                    ``(B)(i) the sales or production of the workers' 
                firm has decreased; or
                    ``(ii) the workers' plant or facility has closed or 
                relocated; and
                    ``(C) the event described in subparagraph (B) 
                contributed importantly to the workers' separation or 
                threat of separation.
            ``(2) Permanent certification.--The presumptive 
        certification under paragraph (1) shall become permanent 40 
        days after the submission of a petition by the group of workers 
        under section 221 unless the Secretary determines within such 
        period, after giving the group of workers notice and an 
        opportunity to be heard, that the workers do not satisfy the 
        criteria for certification in subsection (a).''.
Output: Economic Revitalization Act - Amends the Internal Revenue Code to provide for economic revitalization zones designated by the Secretary of Labor in areas where: (1) the average unemployment rate for the most recent period for which data is available is at least 150 percent of the average national unemployment rate; (2) more than ten percent of the total employment in the area during 1993 consisted of employment in a trade-affected industry, or more than 15 percent consisted of employment in all of the trade-affected industries located in the area; and (3) employment in a trade-affected industry located in such area decreased by more than 20 percent during the period from 1993 through 2002.

Requires priority for designation to be given to areas which: (1) are located in States that have experienced employment in a trade-affected industry decline by more than 50 percent since 1993; and (2) have suffered the loss of more than 1000 jobs in the trade-affected industry within the preceding year.

Defines trade-affected industry as any industry listed in a three-digit North American industry classification system subsector: (1) which had a total labor force of at least 200,000 during 1994; (2) in which the number of employees has declined by more than 30 percent since 1993; and (3) in which the total number of workers certified through the trade adjustment assistance and the North American Free Trade Agreement (NAFTA) transitional adjustment assistance programs under the Trade Act of 1974 from 1994 through 2002 was not less than an amount equal to ten percent of such industry's total labor force in 1994.

Requires treatment of an economic revitalization zone as an empowerment zone for purposes of applying specified tax incentives, including the new markets tax credit.

Amends the Trade Act of 1974 to authorize the award of competitive grants to community colleges to establish job training programs for adversely affected workers.

Presumes a group of workers at a textile or apparel firm to be adversely affected and eligible for trade adjustment assistance benefits under the Trade Adjustment Assistance Reform Act of 2002 if: (1) a significant number or proportion of the workers in the workers' firm or an appropriate subdivision of the firm has become totally or partially separated, or are threatened to become totally or partially separated; (2) the sales or production of the workers' firm has decreased, or the workers' plant or facility has closed or relocated; and (3) such event contributed importantly to the workers' separation or threat of separation.