JOB PRESERVATION ACT

Creates the Job Preservation Act of 2007. Provides that companies that lose 100 or more employees due to outsourcing of jobs are ineligible to receive procurement contracts with the State, units of local government, or school districts and to receive government grants, loans, tax incentives, or other economic incentives. Requires certain companies that lose 100 or more employees to notify the Department of Labor about the loss. Requires the Department to send a survey to companies that report the loss of 100 or more employees in order to determine the number of employees lost because of outsourcing jobs outside of the United States. Requires the Department to provide written notice to the Governor, the General Assembly, State agencies, units of local government, and school districts. Preempts home rule powers. Exempts from the reimbursement requirements of the State Mandates Act. Effective immediately.