Rapid Change Opportunity Act

Rapid Change Opportunity Act - Title I: Funding for Additional Empowerment Zones, Enterprise Communities, and Strategic Planning Communities - Empowerment Zones and Enterprise Communities Enhancement Act of 2000 - Amends title XX (Block Grants to States for Social Services) of the Social Security Act to revise additional grants requirements, providing for: (1) additional State entitlements to grants for designated qualified empowerment zones and qualified enterprise communities as well as for strategic planning communities (currently not provided for); (2) specified funding for such additional empowerment zone State grants (according to urban or rural status) as well as for additional enterprise community State grants and strategic planning community State grants; (3) direct grants to the governing bodies of eligible Indian tribes or Alaska Native villages or regional or village corporations, subject to certain conditions; (4) use of grant funds for revolving loan fund loans to residents, institutions, organizations, or businesses that hire disadvantaged adults and youths; and (5) environmental review to ensure that the National Environmental Policy Act of 1969 and other applicable Federal law are most effectively implemented in connection with the expenditure of grant funds under SSA title XX additional grants provisions. Title II: Credit Against Income Tax for Certain Investments in Businesses Located in Low-Income Communities - New Markets Tax Credit Act of 2000 - Amends the Internal Revenue Code to allow a limited credit to a taxpayer making a qualified low-income community investment. Title III: Exclusion of Certain Severance Payment Amounts from Income - Layoff Tax Relief Act - Amends the Internal Revenue Code to exclude from gross income up to$50,000 of any "qualified severance payment." Excludes from such definition payments exceeding $150,000. Title IV: Extension of Medical Benefits - Amends the Employee Retirement Income Security Act of 1974 (ERISA), the Public Health Service Act, and the Internal Revenue Code to establish a new qualifying event to extend medical benefits to covered employees who become eligible for trade adjustment assistance under the Trade Act of 1974. Title V: Community Economic Adjustment Act of 2000 - Community Economic Adjustment Act of 2000 - Amends the Public Works and Economic Development Act to establish an Office of Community Economic Adjustment in the Economic Development Administration of the Department of Commerce to coordinate the Federal response in regions and communities experiencing severe and sudden economic distress, to help such regions and communities in restructuring their economies. Authorizes appropriations. Title VI: Miscellaneous Provisions - Directs the Secretary of Labor to study and report to Congress on the feasibility of establishing and carrying out one or more pilot projects to provide public employment for temporarily dislocated workers. Amends the Workforce Investment Act of 1998 to include assistance for the preparation of resumes and related pre-employment assistance for eligible individuals under required local: (1) elements of programs for youth; and (2) core services for adults and dislocated workers. Authorizes appropriations to the President for a specified FY 2001 contribution to the International Program for the Elimination of Child Labor (IPEC) of the International Labor Organization (ILO).