Amends the Worker Adjustment and Retraining Notification Act (WARN Act).
Requires employers planning a plant closing or mass layoff to fund an economic impact study for each affected local government unit.
Defines criteria for what constitutes a mass layoff or plant closing, including employee thresholds.
Expands notification requirements to include state representatives and members of Congress.
Mandates that the economic impact study assess the employer’s financial viability and potential local economic losses.
Establishes a requirement for employers not experiencing economic hardship to pay financial losses to an Impacted Workers Fund or workforce development system.
Allows local governments to sue employers for violations of the payment requirement.
Directs the Secretary of Labor to issue guidance on conducting economic impact studies within six months of enactment.
Authorizes the Secretary of Labor to award grants to employers to cover the costs of the required economic impact studies.
Introduces provisions for cooperative agreements between states and the Secretary of Labor to establish Impacted Workers Funds for financial support in affected areas.
