A bill to amend the Internal Revenue Code of 1954 to eliminate the requirement that States reduce the amount of unemployment compensation payable for any week by the amount of certain retirement benefits, and for other purposes.

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to repeal the requirement that States reduce the amount of unemployment compensation payable for any week by the amount of any pension, retirement pay, annuity, or other similar benefits received by an individual. Applies such repeal to certifications of States for 1980 and subsequent years. Amends the Federal-State Extended Unemployment Compensation Act of 1970 to require a State law to extend an individual's period of eligibility for extended compensation benefits to any week beginning within two years after the last day of such individual's benefit year. Makes such requirement effective as of January 1, 1982.…