H.R. 3920 would amend the Trade Act of 1974 to reauthorize trade adjustment assistance, to extend trade adjustment assistance to service workers and firms.

== Detailed Summary ==

<summary>
Trade and Globalization Act of 2007 - Amends the Trade Act of 1974 to allow the filing of a petition with the Secretary of Labor for certification of eligibility to apply for trade adjustment assistance (TAA) by adversely affected workers in a service sector firm, a public agency, or subdivision.

Revises group eligibility requirements for TAA to cover: (1) a shift, by such workers' firm or subdivision to a foreign country, of production of articles or in provision of services, like or directly competitive with articles which are produced, or services that are provided by the workers' firm or subdivision; or (2) instances where the workers' firm or subdivision obtains or is likely to obtain such articles or services from a foreign country.

Provides for the certification for TAA of: (1) adversely affected workers in a public agency, its subdivision, or in a domestic industry; and (2) adversely affected secondary workers in a service sector firm or its subdivision.

Prohibits TAA program benefits from being provided to an alien worker unless such worker is a lawful permanent resident living in the United States.

Revises certain qualifying requirements for TAA for adversely affected workers. Increases: (1) the amount of payments for training of adversely affected workers; and (2) the maximum allowance to cover costs of such workers for job search expenses and relocation expenses.

Amends the Internal Revenue Code to increase the credit for health insurance costs of certain TAA and Pension Benefit Guaranty Corporation (PBGC) pension recipients.

Sets forth requirements to prevent a lapse of health care coverage for TAA workers and their families.

Establishes eligibility requirements for reemployment TAA for adversely affected older workers.

Establishes the Office of Trade Adjustment Assistance.

Extends through FY2012 the TAA program for workers and farmers.

Allows the filing of a petition with the Secretary of Commerce for certification of eligibility to apply for TAA by a service sector firm. Extends the TAA program for firms through FY2012.

Unemployment Insurance Modernization Act - Amends the Social Security Act to require the Secretary of Labor to make unemployment compensation modernization incentive payments in FY2008-FY2012 by certain transfers from the federal unemployment account to the accounts of the states in the Unemployment Trust Fund.

Provides for the issuance of manufacturing redevelopment bonds (qualified tax credit bonds) and tax-exempt facility bonds and require the proceeds to be used for environmental remediation and public infrastructure improvements in manufacturing redevelopment zones. Increases the state low-income housing credit for buildings located in such zones. Allows a credit to holders of such qualified tax credit bonds.<br>
</summary>

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== Status of the Legislation ==

<status>
Latest Major Action: 10/31/2007: Passed/agreed11/5/2007: Referred to in House.Senate committee. Status: On passage Passed byReceived in the YeasSenate and Nays: 264 - 157 (Roll no. 1025).Read twice and referred to the Committee on Finance.
</status>

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== Points in Favor ==

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== Points Against ==

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