Teacher:In this task, you are given a summary for US Congressional and California state bill, your task is to generate a Title for this bill. The preferred titles are under forty words and mention the purpose of the bill.
Teacher: Now, understand the problem? Solve this instance: TABLE OF CONTENTS:
Title I: Refundable Income Tax Credit for Nondeferred
Distributions from Performance-Based Reward Plans
Title II: Establishment of Program to Promote
Performance-Based Reward Plans and Employee
Decisionmaking Participation Programs
Employee Partnership Reward Act of 1994 -
Title I: Refundable Income Tax Credit for Nondeferred Distributions from Performance-Based Reward Plans
- Amends the Internal Revenue Code to allow eligible employees a refundable income tax credit for nondeferred distributions from performance-based reward plans.
Allows employers an additional deduction for performance-based rewards.
Directs the Secretary of the Treasury to study and report to the Congress on the effect of such credit in stimulating productivity and full employment.
Directs the Secretary of Labor and the Director of the Federal Mediation and Conciliation Service each to: (1) collect statistics on the extent of performance-based reward plans in the United States; and (2) prepare studies describing the nature and terms of these plans.
Requires the Director of the Office of Management and Budget to publish annual estimates of annual tax expenditures for deferred profit-sharing plans and employee stock ownership plans.
Title II: Establishment of Program to Promote Performance-Based Reward Plans and Employee Decisionmaking Participation Programs
- Directs the Administrator of the Small Business Administration to establish and carry out an Employee Partnership Pilot Program.
Directs the Administrator to make five-year program grants to up to five eligible entities to promote implementation of performance-based reward plans and employee decisionmaking participation programs. Requires a matching non-Federal share.
Student:
Employee Partnership Reward Act of 1994