Detailed Summary

Older Worker Opportunity Act of 2007 - Amends the Internal Revenue Code to allow employers who maintain a tax-qualified pension or retirement plan and who provide health insurance coverage a business-related tax credit for 25% of the first $6,000 of the wages of employees who have attained the age of 62 and who are participating in a formal flexible work program.

Defines "formal flexible work program" as a work program which: (1) consists of core and flex time; (2) whose core time does not exceed 20 hours per week, three days per week, or 1,000 hours per year; (3) allows participation for at least one year; and (4) does not permit a change or reduction in the health care or pension benefits of the participating employee.

Status of the Legislation

Latest Major Action: 2/28/2007: Referred to Senate committee. Status: Read twice and referred to the Committee on Finance.

Points in Favor

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Points Against

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