Rural Worker Readjustment Act

[AI summary unavailable — showing source text] Rural Worker Readjustment Act - Amends title III of the Job Training Partnership Act to allow the Secretary of Labor to use discretionary funds to provide assistance to individuals who are affected by economic downturns, such as those occurring in the agriculture industry. Allows the Governor of any State receiving allocations under such Act to reserve up to 30 percent for: (1) administration, technical assistance, and coordination; and (2) rapid response capabilities and for programs addressing statewide or regional displacement problems. Requires the remainder of funds to be distributed according to a formula established by the Governor, in consultation with the State advisory council. Subjects such formula to approval by the Secretary. Lists types of information which must be considered when establishing such a formula. Allows a farmer or rancher to be identified as an eligible dislocated worker if: (1) the operation of the farm or ranch will terminate because of one or more listed events (foreclosure, failure to return a profit during the preceding 12 months, bankruptcy proceedings, the inability to obtain necessary capital, the failure to make payments on loans secured by farm…