[Congressional Bills 114th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1000 Introduced in House (IH)]

114th CONGRESS
  1st Session
                                H. R. 1000

    To establish the National Full Employment Trust Fund to create 
              employment opportunities for the unemployed.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           February 13, 2015

Mr. Conyers (for himself, Ms. Bass, Ms. Brown of Florida, Mr. Capuano, 
 Mr. Carson of Indiana, Ms. Chu of California, Ms. Clarke of New York, 
   Mr. Cummings, Ms. Edwards, Mr. Ellison, Mr. Farr, Mr. Al Green of 
  Texas, Mr. Grijalva, Mr. Gutieerrez, Mr. Hastings, Ms. Norton, Ms. 
 Jackson Lee, Mr. Johnson of Georgia, Ms. Kaptur, Ms. Lee, Mr. Lewis, 
    Mr. Meeks, Ms. Moore, Mr. Nolan, Mr. Pocan, Ms. Schakowsky, Mr. 
Serrano, Mr. Sires, Mr. Takano, Ms. Wilson of Florida, and Mr. Yarmuth) 
 introduced the following bill; which was referred to the Committee on 
 Education and the Workforce, and in addition to the Committee on Ways 
 and Means, for a period to be subsequently determined by the Speaker, 
 in each case for consideration of such provisions as fall within the 
                jurisdiction of the committee concerned

_______________________________________________________________________

                                 A BILL


 
    To establish the National Full Employment Trust Fund to create 
              employment opportunities for the unemployed.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act shall be cited as the ``Humphrey-Hawkins 21st Century Full 
Employment and Training Act of 2015''.

SEC. 2. FINDINGS AND PURPOSE.

    (a) Findings.--Congress finds the following:
            (1) The Full Employment and Balanced Growth Act of 1978 
        established an interim 5-year target of 3-percent unemployment 
        for individuals 20 years of age and older, and 4 percent for 
        individuals age 16 and over within 5 years, with full 
        employment to be achieved ``as soon as practicable'' 
        thereafter.
            (2) The Federal Government has previously established full 
        employment as a national goal in national legislation, 
        including the Employment Act of 1946 and the Full Employment 
        and Balanced Growth Act of 1978.
            (3) Pursuant to these Acts, the Congress declared it is the 
        continuing policy and responsibility of the Federal Government 
        to use all practicable means to create and maintain conditions 
        which promote useful employment opportunities for all who seek 
        them, including the self-employed. Pursuant to these Acts, the 
        Congress declared and established as a national goal the 
        fulfillment of the right to full opportunities for useful paid 
        employment at fair rates of compensation of all individuals 
        able, willing, and seeking to work.
            (4) The Nation has suffered substantial unemployment and 
        underemployment, and idleness of productive resources over 
        prolonged periods of time, imposing numerous economic and 
        social costs on the Nation.
            (5) The Nation has been deprived of the full supply of 
        goods and services, the full utilization of labor and capital 
        resources, and the related increases in economic well-being 
        that would occur under conditions of genuine full employment.
            (6) The current output of goods and services is 
        insufficient to meet pressing national priorities for 
        infrastructure, transportation, energy, education, health care, 
        child and elder care, and many other necessary public and human 
        services.
            (7) Unemployment and underemployment expose many workers 
        and families to significant, social, psychological and 
        physiological costs, including disruption of family life, the 
        loss of individual dignity and self-respect, and the 
        aggravation of physical and psychological illnesses.
            (8) Persisting unemployment and underemployment have 
        devastating financial consequences, resulting in the loss of 
        income and spending power for families, and interfering with 
        their ability to save and accumulate assets for a secure family 
        life and retirement. High levels of unemployment and inadequate 
        consumer demand also contribute to poor conditions for retail 
        businesses, manufacturers and many other firms to grow and 
        prosper. In the real estate sector, the Congress finds that 
        continuing high levels of unemployment contribute to 
        foreclosures, evictions, and commercial vacancies, undermining 
        the quality of neighborhood and community life, and hampering 
        prospects for economic recovery and national prosperity.
            (9) The historic promise of this earlier legislation has 
        not been fully realized, and we re-declare and reaffirm our 
        support for achieving a national goal of jobs for all at living 
        wages.
            (10) The United States has a duty under Articles 55 and 56 
        of the United Nations Charter to promote ``full employment'' 
        and the ``universal respect for, and observance of, human 
        rights and fundamental freedoms for all without distinction as 
        to race, sex, language, or religion''. The human rights the 
        United States has a duty to promote pursuant to this obligation 
        are set forth in the Universal Declaration of Human Rights. 
        Article 23 of the Universal Declaration states that ``Everyone 
        has the right to work'' and to ``just and favorable 
        remuneration'' that insures for his or her family ``an 
        existence worthy of human dignity, and supplemented, if 
        necessary, by other means of social protection''.
            (11) The Congress has a strong interest in seeking the 
        progressive reduction and elimination of job disparities among 
        groups of workers who experience chronically higher rates of 
        unemployment and underemployment.
            (12) Even at the top of the business cycle, when national 
        unemployment rates drop to the 4-percent to 5-percent range, 
        job vacancy surveys show that the economy does not provide 
        enough jobs to employ everyone who wants to work. Reliance on 
        direct job creation to close the economy's job gap is 
        especially important at such times, because it provides a means 
        of creating additional jobs without adding significantly to 
        inflationary pressures, a very difficult goal to achieve at the 
        top of the business cycle via macroeconomic policy 
        interventions.
            (13) The Congress intends to maximize the creation of 
        private, public and nonprofit sector jobs through improved use 
        of general economic and structural policies, including measures 
        to encourage private sector investment and capital formation; 
        an increased public investment in research and development, 
        infrastructure, energy, education, public services and the 
        environment, and other essential goods and services.
    (b) Purpose.--It is the purpose of the Humphrey-Hawkins 21st 
Century Full Employment and Training Act of 2015 to fulfill the right 
to useful work at living wages for all persons seeking employment by 
establishing a Full Employment Trust Fund to fund and operate a 
national program of public service employment and to provide additional 
labor market opportunities to complement those offered by the existing 
private, public, and nonprofit sectors.

SEC. 3. DEFINITIONS.

    In this Act the following definitions apply:
            (1) Indian tribe.--The term ``Indian tribe'' has the 
        meaning given such term in section 102(17) of the Housing and 
        Community Development Act (42 U.S.C. 5302(17)).
            (2) Secretary.--The term ``Secretary'' means the Secretary 
        of Labor.
            (3) Small business.--The term ``small business'' has the 
        meaning given the term ``small business concern'' under section 
        3 of the Small Business Act (15 U.S.C. 632).
            (4) State.--The term ``State'' has the meaning given such 
        term in section 102(2) of the Housing and Community Development 
        Act (42 U.S.C. 5302(2)).
            (5) Trust fund.--The term ``Trust Fund'' refers to the Full 
        Employment Trust Fund established under section 4.
            (6) Unit of general local government.--The term ``unit of 
        general local government'' has the meaning given such term in 
        section 102(1) of the Housing and Community Development Act (42 
        U.S.C. 5302(1)).
            (7) Urban county.--The term ``urban county'' has the 
        meaning given such term in section 102(6) of the Housing and 
        Community Development Act (42 U.S.C. 5302(6)).

SEC. 4. ESTABLISHMENT OF FULL EMPLOYMENT NATIONAL TRUST FUND.

    (a) In General.--The Secretary shall establish a Full Employment 
National Trust Fund (in this Act referred to as the ``Trust Fund'') for 
the purposes of--
            (1) providing funding for the Employment Opportunity Grants 
        established in section 5; and
            (2) issuing funds to the Secretary to fund programs under 
        the Workforce Innovation and Opportunity Act of 2014 (29 U.S.C. 
        3101 et seq.).
    (b) Financing the Trust Fund.--Subject to the availability of 
appropriations for this purpose, the Secretary of the Treasury shall 
annually make available to the Secretary of Labor for deposit into the 
Trust Fund an amount equal to the amount collected for that year 
through the tax described in section 4475 of the Internal Revenue Code 
of 1986, as added by section 8.
    (c) Loans From the Federal Reserve System.--
            (1) In general.--If the amount available in the Trust Fund 
        for allocation under section 5 is insufficient to prevent the 
        national unemployment rate from rising more than one full 
        percentage point above its previously attained level, the Board 
        of Governors of the Federal Reserve System shall lend such 
        additional amounts to the Trust Fund as are necessary to allow 
        the Secretary of Labor to make such additional allocations 
        under section 5 as are necessary to restore the national 
        unemployment rate to its allowable 1-percent range of upward 
        variation.
            (2) Repayment.--Amounts lent to the Trust Fund by the Board 
        of Governors of the Federal Reserve System under paragraph (1) 
        shall be repaid by the Trust Fund over 10 years, with interest 
        payable at the same average rate the Federal Government 
        contracts to pay on 10-year bonds sold during the period 
        beginning 45 days prior to the date the loans were made to the 
        Trust Fund and ending 45 days following such date.
    (d) Separate Trust Fund Accounts.--The Trust Fund shall consist of 
2 separate accounts as follows:
            (1) One account shall consist of 67 percent of the funds 
        made available for deposit under subsection (b) and shall be 
        for the Employment Opportunity Grants established in section 5.
            (2) The other account shall consist of 33 percent of the 
        funds made available for deposit under subsection (b) and shall 
        be available to the Secretary to fund programs under the 
        Workforce Innovation and Opportunity Act of 2014 (29 U.S.C. 
        3101 et seq.).
    (e) Web Site.--The Secretary shall establish an Internet Web site 
to serve as an information clearinghouse for job training and 
employment opportunities funded by the Trust Fund.
    (f) Training Stipend.--The Secretary shall promulgate regulations 
requiring entities that receive funds under programs under the 
Workforce Innovation and Opportunity Act of 2014 (29 U.S.C. 3101 et 
seq.) that are funded by the account described in subsection (d)(2) to 
establish training stipends for individuals who participate in such 
programs.
    (g) Research Facility.--The Secretary, through studies conducted by 
the Department of Labor or through independent studies, shall--
            (1) review the effectiveness of job training and job 
        creation programs funded under this Act;
            (2) disseminate information concerning best practices for 
        achieving the goals of the Act as well as common difficulties 
        encountered in that endeavor; and
            (3) acquire a better understanding of the true net cost of 
        the job training and job creation programs funded under this 
        Act by documenting the indirect effects of those programs on 
        the revenues received and costs incurred by different levels of 
        government.

SEC. 5. EMPLOYMENT OPPORTUNITY GRANTS.

    (a) Grants.--Subject to the availability of funds in the Trust 
Fund, the Secretary shall make grants to eligible entities for the 
purpose of creating employment opportunities for unemployed and 
underemployed individuals in activities designed to address community 
needs and reduce disparities in health, housing, education, job 
readiness, and public infrastructure that have impeded these 
communities from realizing their full economic potential.
    (b) Eligible Entities.--Entities eligible to receive grants under 
this section shall include States, Indian tribes, units of general 
local government, elementary and secondary educational institutions 
that derive their support entirely or primarily from public funds, 
educational institutions that participate in the Federal Work-Study 
Program, and not-for-profit organizations that qualify as tax-exempt 
under section 501(c)(3), (5), (8), (9), (19), or (26) of the Internal 
Revenue Code.
    (c) Use of Funds.--A recipient of a grant under this section shall 
use the grant for the following purposes:
            (1) Construction, re-construction, rehabilitation, and site 
        improvements of residences or public facilities, including 
        improvements in the energy efficiency or environmental quality 
        of such public facilities or residences.
            (2) Provision of human services, including child care, 
        health care, support services for individuals and families with 
        special needs, education, after-school and vacation programs 
        for children, and recreational and cultural enrichment programs 
        for persons of all ages.
            (3) Programs that provide disadvantaged youth with 
        opportunities for employment, education, leadership 
        development, entrepreneurial skills development, and training.
            (4) The repair, remodeling and beautification of schools, 
        community centers, libraries and other community-based public 
        facilities, and the augmentation of staffing for the services 
        they provide.
            (5) The restoration and revitalization of abandoned and 
        vacant properties to alleviate blight in distressed and 
        foreclosure-affected areas of a unit of general local 
        government.
            (6) The expansion of emergency food programs to reduce 
        hunger and promote family stability.
            (7) The augmentation of staffing in Head Start, child care, 
        and other early childhood education programs to promote school 
        readiness, early literacy, life-long learning, and family 
        involvement in their children's education.
            (8) The renovation and enhancement of maintenance of parks, 
        playgrounds, and other public spaces.
            (9) Supplemental labor for existing federally or State-
        funded infrastructure projects.
            (10) Supplemental labor for existing federally or State-
        funded projects aimed at expanding access to broadband or 
        wireless Internet service.
            (11) The implementation of environmental initiatives 
        designed to conserve natural resources, remediate environmental 
        damage, reverse climate change, and achieve environmental 
        sustainability.
            (12) The enhancement of emergency preparedness for natural 
        and other community disasters and of post-emergency assistance 
        for the victims of disasters.
            (13) The expansion of work-study opportunities for 
        secondary and post-secondary students, and the creation of 
        ``bridge employment'' opportunities for recent graduates who 
        have been unable to find work in the occupations for which they 
        have trained.
            (14) Other activities that address public needs and which 
        can be implemented as quickly as the activities described in 
        paragraphs (1) through (11).
    (d) Consultation Required.--Each grant recipient shall consult with 
community leaders, including labor organizations, nonprofit community-
based organizations, local government officials, and local residents 
to--
            (1) assess the needs of the community served by the grant 
        recipient;
            (2) determine sectors of the local economy that are in need 
        of employees;
            (3) make recommendations for new employment opportunities 
        in the areas described in subsection (c); and
            (4) assess the effectiveness of job placements made under 
        this Act.
    (e) Conditions.--As a condition of receiving a grant under this 
section, a grant recipient shall--
            (1) agree to comply with the nondiscrimination policy set 
        forth under section 109 of the Housing and Community 
        Development Act of 1974 (42 U.S.C. 5309);
            (2) with respect to the funds allocated for each project 
        funded under the grant--
                    (A) allocate not less than 80 percent for wages, 
                benefits, and support services, including child care 
                services, for individuals, supervisory and management 
                personnel, employed on such project; and
                    (B) allocate the remaining funds to defray the 
                nonlabor costs of the project, including necessary 
                capital goods, supplies, materials, rental payments, 
                transportation costs, and other similar expenses;
            (3) use revenue generated by a project funded under the 
        grant (whether in the form of fees paid for services provided 
        by the project, reimbursements for expenses incurred in 
        undertaking the project, or income from the sale of goods or 
        services produced by the project) in excess of the costs of the 
        project to--
                    (A) supplement the project budget; or
                    (B) support other projects funded by the grant in 
                conformity with the purposes of this Act and subject to 
                the same rules and requirements that apply to other 
                such projects;
            (4) ensure that employment on any project funded under the 
        grant is carried out in accordance with subsection (c);
            (5) institute an outreach program with community 
        organizations and service providers in low-income communities 
        to provide information about placements funded under the grant 
        to individuals suited to perform community infrastructure work; 
        and
            (6) ensure that not less than 35 percent of individuals 
        employed under the grant are individuals described in paragraph 
        (4)(B) of subsection (f).
    (f) Employment Described.--Employment funded under this section 
shall meet the following specifications:
            (1) Any employer that employs an individual whose 
        employment is funded under the grant shall--
                    (A) continue to employ such individual for not less 
                than 12 months, subject to the individual's 
                satisfactory performance of the reasonable requirements 
                of the individual's employment;
                    (B) if such an individual desires full-time 
                employment, employ such individual for not less than 35 
                hours per week and not more than 40 hours, and if such 
                an individual desires part-time work, employ such 
                individual for a mutually agreed number of hours per 
                week that is less than 35 hours per week;
                    (C) comply with responsible contractor standards, 
                as determined by the relevant official in the unit of 
                local general government;
                    (D) provide compensation to such individual on a 
                per hour basis equal to the compensation provided to 
                public sector employees who perform similar work in the 
                community where such individual is employed or, if no 
                public sector employees perform such similar work, 
                provide compensation to such individual that is 
                comparable to the compensation provided to private-
                sector employees who perform similar work in the 
                community where such individual is employed;
                    (E) if such employment is in construction, provide 
                compensation to any laborer or mechanic employed under 
                the grant at rates not less than those prevailing on 
                similar construction in the locality as determined by 
                the Secretary in accordance with subchapter IV of 
                chapter 31 of title 40, United States Code; and
                    (F) offer assistance to such individual in applying 
                for social benefits for which such individual or the 
                members of such individual's family may be eligible.
            (2) No individual whose employment is funded under the 
        grant may work for an employer at which a collective bargaining 
        agreement is in effect covering the same or similar work, 
        unless--
                    (A) the consent of the union at such employer is 
                obtained; and
                    (B) negotiations have taken place between such 
                union and the employer as to the terms and conditions 
                of such employment.
            (3)(A) An employer may not employ an individual for a 
        position funded under this Act, if--
                    (i) employing such individual will result in the 
                layoff or partial displacement (such as a reduction in 
                hours, wages, or employee benefits) of an existing 
                employee of the employer; or
                    (ii) such individual will perform the same or 
                substantially similar work that had previously been 
                performed by an employee of the employer who--
                            (I) has been laid off or partially 
                        displaced (as such term is described in 
                        subclause (I)); and
                            (II) has not been offered by the employer, 
                        to be restored to the position the employee had 
                        immediately prior to being laid off or 
                        partially displaced.
            (B) For the purposes of this paragraph, a position shall be 
        considered to have been eliminated by an employer if the 
        position has remained unfilled and the unit or organization has 
        not sought to fill such position for at least a period of one 
        month.
            (C) An individual may not be hired for a position funded 
        under this Act in a manner that infringes upon the promotional 
        opportunities of an existing employee (as of the date of such 
        hiring) of an employer receiving funds under this Act.
            (4) An individual seeking employment in a job funded under 
        this Act shall have their eligibility for such employment 
        certified by the State employment service in the State where 
        the job is located. To be certified as eligible for such 
        employment, the individual shall satisfy at least one of the 
        following conditions as of the date the individual is hired to 
        fill a job funded under this Act:
                    (A) The individual is receiving unemployment 
                insurance benefits.
                    (B) The individual is unemployed, is a member of a 
                targeted group as defined by section 51(d) of the 
                Internal Revenue Code of 1986, and has been seeking 
                employment, with the assistance of the State employment 
                service, for not less than 30 days prior to the date on 
                which the individual is so hired.
                    (C) The individual is unemployed and has been 
                seeking employment, with the assistance of the State 
                employment service, for not less than 60 days prior to 
                the date the individual is so hired.
                    (D) The individual has been employed part-time 
                while seeking full-time employment with the assistance 
                of the State employment service for not less than 13 
                weeks prior to the date the individual is so hired.
            (5) An individual employed in a job funded under this Act 
        shall--
                    (A) notwithstanding the individual's employment in 
                a job funded under this Act, be registered with the 
                appropriate State employment service as available for 
                and seeking work;
                    (B) respond appropriately, as a person available 
                for and seeking employment, to referrals by the State 
                employment service concerning available jobs;
                    (C) apply for suitable jobs for which the 
                individual has been referred by the State employment 
                service; and
                    (D) accept a suitable job if such job is offered to 
                the individual.
        For purposes of subparagraphs (C) and (D), the term ``suitable 
        job'' means a job that a newly unemployed individual receiving 
        unemployment insurance benefits would be required to accept in 
        order to avoid forfeiting the individual's eligibility for 
        continued receipt of unemployment insurance benefits under the 
        laws of the State in which the individual is employed in a job 
        funded under this Act. An individual employed under this Act 
        shall be granted time off with pay to comply with subparagraph 
        (C). An individual who fails to comply with the requirements 
        set forth in subparagraphs (C) and (D) without good cause shall 
        be subject to disqualification for employment in a job funded 
        under this act for a period not to exceed 13 weeks, after which 
        time the individual's eligibility shall be restored provided 
        they have satisfied the eligibility requirements set forth in 
        paragraph 4. Any such disqualification must be effected in 
        accord with the laws, regulations and procedures that govern an 
        individual's disqualification from continued receipt of 
        Unemployment Insurance benefits in the State, except that no 
        wages paid or owing to the individual for work already 
        performed can be forfeited as a result of such proceeding.
            (6) An individual employed in a job funded under this Act 
        who terminates that employment in order to accept other 
        employment, and who subsequently is terminated from that other 
        employment without fault on the individual's part, shall be 
        eligible for immediate reemployment in a job funded under this 
        Act.
            (7) In hiring individuals for positions funded under this 
        Act, or using funds under this Act to continue to provide 
        employee compensation for existing employees, an employer shall 
        comply with all applicable Federal, State, and local laws, 
        personnel policies and regulations, and collective bargaining 
        agreements, as if such individual was hired, or such employee 
        compensation were provided, without assistance under this Act.
            (8) An individual hired for a position funded under this 
        Act shall--
                    (A) be considered an employee of the employer, by 
                which such individual was hired; and
                    (B) receive the same employee compensation, have 
                the same rights and responsibilities and job 
                classifications, and be subject to the same job 
                standards, employer policies, and collective bargaining 
                agreements as if such individual were hired without 
                assistance under this Act.
    (g) Award of Grants.--
            (1) Selection criteria.--In selecting a project to receive 
        funding for employing the individuals described in subsection 
        (f)(4), a grant recipient shall consider--
                    (A) the input of all participants in a proposed 
                project, including labor organizations, community 
                organizations, and employers;
                    (B) the needs of the community intended to benefit 
                from such project;
                    (C) the long-term goals and short-term objectives 
                to address such needs; and
                    (D) any recommendations for programs and activities 
                developed to meet such needs.
            (2) Priority given to certain projects.--A grant recipient 
        under this section shall give priority to projects that--
                    (A) serve areas with the greatest level of economic 
                need, determined for each such area by--
                            (i) the unemployment rate;
                            (ii) the rate of poverty;
                            (iii) the number of census tracts with 
                        concentrated poverty;
                            (iv) the lowest median income;
                            (v) the percentage of vacant and abandoned 
                        properties;
                            (vi) the percentage of home foreclosures; 
                        and
                            (vii) the indicators of poor resident 
                        health, including high rates of chronic 
                        disease, infant mortality, and life expectancy;
                    (B) integrate education and job skills training, 
                including basic skills instruction and secondary 
                education services;
                    (C) coordinate to the maximum extent feasible with 
                pre-apprenticeship and apprenticeship programs; and
                    (D) provide jobs in sectors where job growth is 
                most likely, as determined by the Secretary, and in 
                which career advancement opportunities exist to 
                maximize long-term, sustainable employment for 
                individuals after employment funded under this Act 
                ends.
    (h) Allocation of Grants.--The total amount of grant funding 
awarded under this section for a fiscal year shall not exceed 90 
percent of the funds available in the account described in section 
4(d)(1) for such year. The Secretary shall develop criteria for the 
allocation of these funds. These criteria shall ensure, to the extent 
reasonably possible, that--
            (1) the number of jobs created with those funds in each 
        community will be proportionate to the level of unemployment, 
        involuntary part-time employment, and non-labor-force 
        participation by persons who want and are available to accept 
        jobs in each community, and
            (2) the type of jobs created with those funds in each 
        community will be designed to match the qualifications of 
        unemployed and under-employed job-seekers in those communities, 
        taking into consideration available training opportunities.
If the total number of jobs created in a particular community under 
this Act falls short of the number needed to provide jobs for 
substantially all job seekers, the Secretary of Labor shall have the 
authority to establish and administer its own job creation projects in 
the community.
    (i) Reports.--
            (1) Reports by grant recipients.--Not later than 90 days 
        after the last day of each fiscal year in which assistance 
        under this section is furnished, a recipient of a grant under 
        this section shall submit to the Secretary a report containing 
        the following:
                    (A) A description of the progress made in 
                accomplishing the objectives of this chapter.
                    (B) A summary of the use of the grant during the 
                preceding fiscal year.
                    (C) For units of general local government, a 
                listing of each entity receiving funds and the amount 
                of such grants, as well as a brief summary of the 
                projects funded for each such unit, the extent of 
                financial participation by other public or private 
                entities, and the impact on employment and economic 
                activity of such projects during the previous fiscal 
                year.
                    (D) For States, a listing of each unit of general 
                local government receiving funds and the amount of such 
                grants, as well as a brief summary of the projects 
                funded for each such unit, the extent of financial 
                participation by other public or private entities, and 
                the impact on employment and economic activity of such 
                projects during the previous fiscal year.
                    (E) The amount of money received and expended 
                during the fiscal year.
                    (F) The number of individuals assisted under the 
                grant whose household income is low-income, very low-
                income, or extremely low-income (as such terms are used 
                for purposes of the Housing Act of 1937 and the 
                regulations thereunder (42 U.S.C. 1437 et seq.)).
                    (G) The amount expended on administrative costs 
                during the fiscal year.
            (2) Report to congress.--At least once every 6 months, the 
        Secretary shall submit to Congress a report on the use of 
        grants awarded under this section and any progress in job 
        creation.
    (j) Establishment of Arbitration Procedure.--
            (1) In general.--Each grant recipient under this section 
        shall agree to the arbitration procedure described in this 
        subsection to resolve disputes described in subsections (k) and 
        (l).
            (2) Written grievances.--
                    (A) In general.--If an employee (or an employee 
                representative) wishes to use the arbitration procedure 
                described in this subsection, such party shall file a 
                written grievance within the time period required under 
                subsection (k) or (l), as applicable, simultaneously 
                with the chief executive officer of a unit or State 
                involved in the dispute and the Secretary.
                    (B) In-person meeting.--Not later than 10 days 
                after the date of the filing of the grievance, the 
                chief executive officer (or the designee of the chief 
                executive officer) shall have an in-person meeting with 
                the party to resolve the grievance.
            (3) Arbitration.--
                    (A) Submission.--If the grievance is not resolved 
                within the time period described in paragraph (2)(B), a 
                party, by written notice to the other party involved, 
                may submit such grievance to binding arbitration before 
                a qualified arbitrator who is jointly selected and 
                independent of the parties.
                    (B) Appointment by secretary.--If the parties 
                cannot agree on an arbitrator within 5 days of 
                submitting the grievance to binding arbitration under 
                subparagraph (A), one of the parties may submit a 
                request to the Secretary to appoint a qualified and 
                independent arbitrator. The Secretary shall appoint a 
                qualified and independent arbitrator within 15 days 
                after receiving the request.
                    (C) Hearing.--Unless the parties mutually agree 
                otherwise, the arbitrator shall conduct a hearing on 
                the grievance and issue a decision not later than 30 
                days after the date such arbitrator is selected or 
                appointed.
                    (D) Costs.--
                            (i) In general.--Except as provided in 
                        clause (ii), the cost of an arbitration 
                        proceeding shall be divided evenly between the 
                        parties to the arbitration.
                            (ii) Exception.--If a grieving party 
                        prevails under an arbitration proceeding, the 
                        recipient of a grant under this section shall 
                        pay the cost of such proceeding, including 
                        attorneys' fees.
    (k) Disputes Concerning the Allotment of Funds.--In a case where a 
unit of general local government that is an entitlement community or a 
State has improperly requested funds for services or functions to be 
provided by a community-based organization that are customarily 
provided by the unit or, in the case of a State, by a unit located in 
the non-entitlement area of the State where services or functions will 
be provided by the organization, an employee or employee representative 
of the unit or State may file a grievance under subsection (j) not 
later than 15 days after public notice of an intent to submit an 
application under this section is published. Upon receiving a copy of 
the grievance, the Secretary shall withhold the funds subject to such 
grievance, unless and until the grievance is resolved under subsection 
(j), by the parties or an arbitrator in favor of providing such 
funding.
    (l) All Other Disputes.--
            (1) In general.--In the case of a dispute not covered under 
        subsection (k) concerning compliance with the requirements of 
        this section by a recipient of a grant under this section, an 
        employee or employee representative of the unit or State may 
        file a grievance under subsection (k) not later than 90 days 
        after the dispute arises. In such cases, an arbitrator may 
        award such remedies as are necessary to make the grieving party 
        whole, including the reinstatement of a displaced employee or 
        the payment of back wages, and may submit recommendations to 
        the Secretary to ensure further compliance with the 
        requirements of this title, including recommendations to 
        suspend or terminate funding, or to require the repayment of 
        funds received under this title during any period of 
        noncompliance.
            (2) Existing grievance procedures.--A party to a dispute 
        described in paragraph (1) may use the existing grievance 
        procedure of a recipient of a grant under this section, or the 
        arbitration procedure described in this subsection, to resolve 
        such dispute.
    (m) Party Defined.--For purposes of subsections (j), (k), and (l), 
the term ``party'' means the employee and the recipient of a grant 
under this section, involved in a dispute described in subsection (k) 
or (l).
    (n) Whistleblower Hotline; Enforcement by the Secretary.--
            (1) Whistleblower hotline.--The Secretary shall post on a 
        publicly accessible Internet Web site of the Department of 
        Labor the contact information for reporting noncompliance with 
        this title by a State, unit of general local government, 
        community-based organization, or individual receiving funding 
        under this title.
            (2) Enforcement by the secretary.--
                    (A) In general.--If the Secretary receives a 
                complaint alleging noncompliance with this title, the 
                Secretary may conduct an investigation and after notice 
                and an opportunity for a hearing, may order such 
                remedies as the Secretary determines appropriate, 
                including--
                            (i) withholding further funds under this 
                        title to a noncompliant entity;
                            (ii) requiring the entity to make an 
                        injured party whole; or
                            (iii) requiring the entity to repay to the 
                        Secretary any funds received under this title 
                        during any period of noncompliance.
                    (B) Recommendation by an arbitrator.--A remedy 
                described in subparagraph (A) may also be ordered by 
                the Secretary upon recommendation by an arbitrator 
                appointed or selected under this section.

SEC. 6. NATIONAL EMPLOYMENT CONFERENCE.

    (a) In General.--Using funds described in section 4(d)(2), the 
Secretary shall convene a national employment conference not later than 
1 year after the date of enactment of this Act, and annually 
thereafter.
    (b) Subject.--The subject of the conference shall be the role of 
this Act in addressing all aspects of the problems of unemployment, the 
sharing of best practices in addressing those problems, and the 
discussion of problems in the administration of this Act.

SEC. 7. INCLUSION OF MINORITY-SERVING, COMMUNITY-BASED ORGANIZATIONS IN 
              STATE AND LOCAL WORKFORCE DEVELOPMENT BOARDS.

    (a) State Boards.--Section 101(b)(1)(C) of the Workforce Innovation 
and Opportunity Act (29 U.S.C. 3111(b)(1)(C)) is amended--
            (1) by striking ``and'' at the end of subclause (II);
            (2) by inserting ``and'' at the end of subclause (III); and
            (3) by adding at the end the following:
                                    ``(IV) are not less than 25 percent 
                                of the chief executive officers of 
                                minority-serving, community-based 
                                organizations;''.
    (b) Local Boards.--Section 107(b)(2)(C) of such Act (29 U.S.C. 
3122(b)(2)(A)) is amended by adding at the end the following:
                            ``(iv) shall include not less than 25 
                        percent of the chief executive officers of 
                        minority-serving, community-based 
                        organizations;''.
    (c) Effective Date.--The amendments made by this section shall take 
effect as if enacted as part of the Workforce Innovation and 
Opportunity Act (29 U.S.C. 3101 et seq.).

SEC. 8. TAX ON SECURITIES TRANSACTIONS.

    (a) In General.--Chapter 36 of the Internal Revenue Code of 1986 is 
amended by inserting after subchapter B the following new subchapter:

             ``Subchapter C--Tax on Securities Transactions

``SEC. 4475. TAX ON TRADING TRANSACTIONS.

    ``(a) Imposition of Tax.--There is hereby imposed a tax on the 
transfer of ownership in each covered transaction with respect to any 
security.
    ``(b) Rate of Tax.--The tax imposed under subsection (a) with 
respect to any covered transaction shall be the applicable percentage 
of the specified base amount with respect to such covered transaction. 
The applicable percentage shall be--
            ``(1) 0.2 percent in the case of a security described in 
        subparagraph (A) or (B) of subsection (e)(1),
            ``(2) 0.06 percent in the case of a security described in 
        subparagraph (C) of subsection (e)(1),
            ``(3) 0.2 percent in the case of a security described in 
        subparagraph (D) of subsection (e)(1) if the underlying assets 
        on which the rights and obligations created by the security are 
        based consist of other securities described in subparagraph (A) 
        or (B) of subsection (e)(1),
            ``(4) 0.2 percent in the case of a security described in 
        subparagraph (F) of subsection (e)(1) if the index on which the 
        rights and obligations created by the security are based is an 
        index referencing the values of securities described in 
        subparagraph (A) or (B) of subsection (e)(1)(A), and
            ``(5) 0.06 percent in the case of any security described in 
        subparagraph (D), (E), or (F) of subsection (e)(1) (other than 
        a security described in paragraph (3) or (4)).
    ``(c) Specified Base Amount.--For purposes of this section, the 
term `specified base amount' means--
            ``(1) except as provided in paragraph (2), the fair market 
        value of the security (determined as of the time of the covered 
        transaction), and
            ``(2) in the case of any payment described in subsection 
        (h), the amount of such payment.
    ``(d) Covered Transaction.--For purposes of this section, the term 
`covered transaction' means--
            ``(1) except as provided in paragraph (2), any purchase 
        if--
                    ``(A) such purchase occurs or is cleared on a 
                facility located in the United States, or
                    ``(B) the purchaser or seller is a United States 
                person, and
            ``(2) any transaction with respect to a security described 
        in subparagraph (D), (E), or (F) of subsection (e)(1), if--
                    ``(A) such security is traded or cleared on a 
                facility located in the United States, or
                    ``(B) any party with rights under such security is 
                a United States person.
    ``(e) Security and Other Definitions.--For purposes of this 
section--
            ``(1) In general.--The term `security' means--
                    ``(A) any share of stock in a corporation,
                    ``(B) any partnership or beneficial ownership 
                interest in a partnership or trust,
                    ``(C) any note, bond, debenture, or other evidence 
                of indebtedness, other than a State or local bond the 
                interest of which is excluded from gross income under 
                section 103(a),
                    ``(D) any evidence of an interest in, or a 
                derivative financial instrument with respect to, any 
                security or securities described in subparagraph (A), 
                (B), or (C),
                    ``(E) any derivative financial instrument with 
                respect to any currency or commodity including notional 
                principal contracts, and
                    ``(F) any other derivative financial instrument any 
                payment with respect to which is calculated by 
                reference to any specified index.
            ``(2) Derivative financial instrument.--The term 
        `derivative financial instrument' includes any option, forward 
        contract, futures contract, notional principal contract, or any 
        similar financial instrument.
            ``(3) Specified index.--The term `specified index' means 
        any 1 or more of any combination of--
                    ``(A) a fixed rate, price, or amount, or
                    ``(B) a variable rate, price, or amount, which is 
                based on any current objectively determinable 
                information which is not within the control of any of 
                the parties to the contract or instrument and is not 
                unique to any of the parties' circumstances.
            ``(4) Treatment of exchanges.--
                    ``(A) In general.--An exchange shall be treated as 
                the sale of the property transferred and a purchase of 
                the property received by each party to the exchange.
                    ``(B) Certain deemed exchanges.--In the case of a 
                distribution treated as an exchange for stock under 
                section 302 or 331, the corporation making such 
                distribution shall be treated as having purchased such 
                stock for purposes of this section.
    ``(f) Exceptions.--
            ``(1) Exception for initial issues.--No tax shall be 
        imposed under subsection (a) on any covered transaction with 
        respect to the initial issuance of any security described in 
        subparagraph (A), (B), or (C) of subsection (e)(1).
            ``(2) Exception for certain traded short-term 
        indebtedness.--A note, bond, debenture, or other evidence of 
        indebtedness which--
                    ``(A) is traded on a trading facility located in 
                the United States, and
                    ``(B) has a fixed maturity of not more than 60 
                days, shall not be treated as described in subsection 
                (e)(1)(C).
            ``(3) Exception for securities lending arrangements.--No 
        tax shall be imposed under subsection (a) on any covered 
        transaction with respect to which gain or loss is not 
        recognized by reason of section 1058.
            ``(4) Exception for interests in mutual funds.--No tax 
        shall be imposed under subsection (a) with respect to the 
        purchase or sale of any interest in a regulated investment 
        company (as defined in section 851).
    ``(g) By Whom Paid.--
            ``(1) In general.--The tax imposed by this section shall be 
        paid by--
                    ``(A) in the case of a transaction which occurs or 
                is cleared on a facility located in the United States, 
                such facility, and
                    ``(B) in the case of a purchase not described in 
                subparagraph (A) which is executed by a broker (as 
                defined in section 6045(c)(1)), the broker.
            ``(2) Special rules for direct, etc., transactions.--In the 
        case of any transaction to which paragraph (1) does not apply, 
        the tax imposed by this section shall be paid by--
                    ``(A) in the case of a transaction described in 
                subsection (d)(1)--
                            ``(i) the purchaser if the purchaser is a 
                        United States person, and
                            ``(ii) the seller if the purchaser is not a 
                        United States person, and
                    ``(B) in the case of a transaction described in 
                subsection (d)(2)--
                            ``(i) the payor if the payor is a United 
                        States person, and
                            ``(ii) the payee if the payor is not a 
                        United States person.
    ``(h) Certain Payments Treated as Separate Transactions.--Except as 
otherwise provided by the Secretary, any payment with respect to a 
security described in subparagraph (D), (E), or (F) of subsection 
(e)(1) shall be treated as a separate transaction for purposes of this 
section, including--
            ``(1) any net initial payment, net final or terminating 
        payment, or net periodical payment with respect to a notional 
        principal contract (or similar financial instrument),
            ``(2) any payment with respect to any forward contract (or 
        similar financial instrument), and
            ``(3) any premium paid with respect to any option (or 
        similar financial instrument).
    ``(i) Administration.--The Secretary shall carry out this section 
in consultation with the Securities and Exchange Commission and the 
Commodity Futures Trading Commission.
    ``(j) Guidance; Regulations.--The Secretary shall--
            ``(1) provide guidance regarding such information reporting 
        concerning covered transactions as the Secretary deems 
        appropriate, including reporting by the payor of the tax in 
        cases where the payor is not the purchaser, and
            ``(2) prescribe such regulations as are necessary or 
        appropriate to prevent avoidance of the purposes of this 
        section, including the use of non-United States persons in such 
        transactions.
    ``(k) Whistleblowers.--See section 7623 for provisions relating to 
whistleblowers.''.
    (b) Penalty for Failure To Include Covered Transaction Information 
With Return.--Part I of subchapter B of chapter 68 of the Internal 
Revenue Code of 1986 is amended by inserting after section 6707A the 
following new section:

``SEC. 6707B. PENALTY FOR FAILURE TO INCLUDE COVERED TRANSACTION 
              INFORMATION WITH RETURN.

    ``(a) Imposition of Penalty.--Any person who fails to include on 
any return or statement any information with respect to a covered 
transaction which is required pursuant to section 4475(j)(1) to be 
included with such return or statement shall pay a penalty in the 
amount determined under subsection (b).
    ``(b) Amount of Penalty.--Except as otherwise provided in this 
subsection, the amount of the penalty under subsection (a) with respect 
to any covered transaction shall be determined by the Secretary.
    ``(c) Covered Transaction.--For purposes of this section, the term 
`covered transaction' has the meaning given such term by section 
4475(d).
    ``(d) Authority To Rescind Penalty.--
            ``(1) In general.--The Commissioner of Internal Revenue may 
        rescind all or any portion of any penalty imposed by this 
        section with respect to any violation if rescinding the penalty 
        would promote compliance with the requirements of this title 
        and effective tax administration.
            ``(2) No judicial appeal.--Notwithstanding any other 
        provision of law, any determination under this subsection may 
        not be reviewed in any judicial proceeding.
            ``(3) Records.--If a penalty is rescinded under paragraph 
        (1), the Commissioner shall place in the file in the Office of 
        the Commissioner the opinion of the Commissioner with respect 
        to the determination, including--
                    ``(A) a statement of the facts and circumstances 
                relating to the violation,
                    ``(B) the reasons for the rescission, and
                    ``(C) the amount of the penalty rescinded.
    ``(e) Coordination With Other Penalties.--The penalty imposed by 
this section shall be in addition to any other penalty imposed by this 
title.''.
    (c) Clerical Amendments.--
            (1) The table of sections for part I of subchapter B of 
        chapter 68 of such Code is amended by inserting after the item 
        relating to section 6707A the following new item:

``Sec. 6707B. Penalty for failure to include covered transaction 
                            information with return.''.
            (2) The table of subchapters for chapter 36 of the Internal 
        Revenue Code of 1986 is amended by inserting after the item 
        relating to subchapter B the following new item:

             ``subchapter c. tax on trading transactions''.

    (d) Effective Date.--The amendments made by this section shall 
apply to transactions occurring more than 180 days after the date of 
the enactment of this Act.

SEC. 9. SUSPENSION BASED ON FINDING OF INFLATION DURING PERIOD OF LOW 
              UNEMPLOYMENT.

    (a) Determination on Inflation.--Whenever the conditions specified 
in subsection (k) are satisfied, the Secretary shall make a 
determination as to whether there is good cause to believe that--
            (1) job creation funded under this Act constitutes a 
        significant contributing factor to the elevation of the rate of 
        inflation above the level set forth in subsection (k); and
            (2) a reduction in the number of persons employed in jobs 
        funded under this Act is necessary to restore the rate of 
        inflation to a level below that set forth in subsection (k).
    (b) Suspension of Hiring.--If the Secretary determines that such 
good cause exists, the Secretary shall issue an interim order 
temporarily--
            (1) suspending new hiring of persons described in 
        subsections (f)(4)(A) and (f)(4)(D) of section 5 for jobs 
        funded under this Act; and
            (2) freezing the hourly wage rates paid for jobs funded 
        under this Act.
    (c) Publication of Suspension Order.--At least 7 days before the 
effective date of the interim order described in subsection (b), the 
Secretary shall cause a copy of the order to be sent by email to all 
applicants for and recipients of Employment Opportunity Grants under 
section 5 and published in the Federal Register along with a notice 
requesting public comment thereon. The comment period announced in this 
notice shall last for 30 days from the day the notice is published. The 
Secretary shall also announce the publication of the interim order and 
invite public comment thereon in a press conference called expressly 
for that purpose and to which representatives of the national news 
media have been invited.
    (d) No Review Required.--The Office of Management and Budget shall 
not be required to review the order described in subsection (b) and no 
impact statement or analysis of the order's effect shall be required 
under any other statute.
    (e) Revocation or Confirmation of Order.--After the 30-day comment 
period described in subsection (c) has expired and the Secretary has 
considered the comments received relating to the interim order for a 
period not to exceed 15 additional days, the Secretary shall--
            (1) either revoke the interim order or confirm it with or 
        without changes;
            (2) cause all applicants for and recipients of Employment 
        Opportunity Grants under section 5 to be notified of such 
        confirmation or revocation in the manner described in 
        subsection (c)(1); and
            (3) publish a notice in the Federal Register announcing 
        such confirmation or revocation along with a statement 
        summarizing the views submitted by the public during the 
        comment period and setting forth in reasonable detail the 
        evidence, reasoning, and arguments relied upon and rejected in 
        deciding whether to revoke the interim order or confirm it with 
        or without changes.
    (f) Continuance of Authority.--If the interim order is confirmed, 
either with or without changes, the Secretary shall have the authority 
to transfer funds from the account described in subsection (d)(1) of 
section 4 to the account described in subsection (d)(2) of section 4 to 
the extent necessary to provide additional training opportunities for 
persons whose employment in jobs funded under this Act has been 
temporarily suspended.
    (g) Waiver.--Any person who would be eligible for employment in a 
job funded under this Act but for the order described in subsections 
(b) and (e) shall be afforded the opportunity to apply for a waiver of 
the order's application to them on the grounds that it would cause them 
or their family to suffer undue hardship. The Secretary shall establish 
procedures and rules insuring that such waiver applications are 
considered and decided in an expeditious manner.
    (h) No Early Termination, Suspension in Hiring, or Reduction in 
Wages.--No person employed in a job funded under this Act shall have 
their employment prematurely terminated to achieve the purposes of this 
section. Hiring for jobs funded under this Act of persons described in 
subsections (f)(4)(B) and (f)(4)(C) of section 5 may not be suspended 
to achieve the purposes of this section. The hourly wages paid for jobs 
funded under this Act may not be reduced to achieve the purposes of 
this section.
    (i) Waiver of Applicability.--The Secretary shall have the 
authority to waive the applicability of the order described in sections 
(b) and (e) to recipients of Employment Opportunity Grants to the 
extent necessary to prevent layoffs by the grant recipient of persons 
already employed by them in jobs funded under this Act.
    (j) Duration of Order.--The order described in subsections (b) and 
(e) shall remain in effect only as long as the conditions specified in 
subsection (k) are satisfied.
    (k) Inflationary Trigger.--The Secretary's authority to act under 
this section shall arise only when both of the following conditions are 
jointly satisfied:
            (1) The seasonally adjusted unemployment rate for the 
        civilian labor force of the United States, as reported by the 
        United States Bureau of Labor Statistics in its most recent 
        Employment Situation News Release, is less than 4.0 percent.
            (2) The seasonally adjusted consumer price index for all 
        urban consumers in the United States, as reported by the United 
        States Bureau of Labor Statistics in its most recent Consumer 
        Price Index News Release, is more than 3 percent above its 
        level during the same period one year earlier.
                                 <all>