Amends the Internal Revenue Code to establish a limited tax credit for holders of qualified public school modernization bonds. Repeals a restriction on zone academy bond holders.
Amends the General Education Provisions Act to apply certain labor standards on construction projects financed under such public school modernization bond program and specified zone academy bond provisions.
Amends the Workforce Investment Act of 1998 to establish provisions concerning local employment and training activities related to the construction or reconstruction of public school facilities.