(a) Application for adjustment assistance
A firm certified under section 2341 of this title as eligible to apply for adjustment assistance may, at any time within 2 years after the date of such certification, file an application with the Secretary for adjustment assistance under this part. Such application shall include a proposal for the economic adjustment of such firm.
(b) Technical assistance
(1) Adjustment assistance under this part consists of technical assistance. The Secretary shall approve a firm's application for adjustment assistance only if the Secretary determines that the firm's adjustment proposal—
(A) is reasonably calculated to materially contribute to the economic adjustment of the firm,
(B) gives adequate consideration to the interests of the workers of such firm, and
(C) demonstrates that the firm will make all reasonable efforts to use its own resources for economic development.
(2) The Secretary shall make a determination as soon as possible after the date on which an application is filed under this section, but in no event later than 60 days after such date.
(c) Termination of certification of eligibility
Whenever the Secretary determines that any firm no longer requires assistance under this part, he shall terminate the certification of eligibility of such firm and promptly have notice of such termination published in the Federal Register. Such termination shall take effect on the termination date specified by the Secretary.
Amendments
1986—Subsec. (b)(1). Pub. L. 99–272, §13006(a)(1), amended par. (1) generally. Prior to amendment, par. (1) read as follows: "Adjustment assistance under this part consists of technical assistance and financial assistance, which may be furnished singly or in combination. The Secretary shall approve a firm's application for adjustment assistance only if he determines—
"(A) that the firm has no reasonable access to financing through the private capital market, and
"(B) that the firm's adjustment proposal—
"(i) is reasonably calculated materially to contribute to the economic adjustment of the firm,
"(ii) gives adequate consideration to the interests of the workers of such firm, and
"(iii) demonstrates that the firm will make all reasonable efforts to use its own resources for economic development."
Subsecs. (c), (d). Pub. L. 99–272, §13006(a)(2), redesignated subsec. (d) as (c) and struck out former subsec. (c) which authorized the Secretary to assist an eligible firm in the preparation of a viable adjustment proposal.
Termination Date
Except as otherwise provided, assistance may not be provided under this section after June 30, 2021, see section 285 of Pub. L. 93–618, set out as a note preceding section 2271 of this title.
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