Humphrey-Hawkins 21st Century Full Employment and Training Act of 2012 - Directs the Secretary of Labor to establish a Full Employment National Trust Fund with two separate accounts for: (1) Employment Opportunity Grants to states, local governments, and Indian tribes for job-creating activities in communities whose economy is not at a level of full employment; and (2) Workforce Investment programs.
Establishes arbitration procedures for resolution of disputes for grant recipients. Requires the Secretary of Labor to post a whistleblower hotline on the Department of Labor's website for the public to report noncompliance with the Act's requirements.
Directs the Secretary to convene a national employment conference to bring together leaders of small, medium, and large businesses, labor, government, and other parties to discuss employment, with particular attention to structural unemployment and the plight of disadvantaged youth.
Amends the Workforce Investment Act of 1998 to revise member composition requirements for state and local workforce investment boards to include at least 25% of the chief executive officers of minority-serving, community-based organizations.
Amends the Internal Revenue Code to impose a tax on certain covered securities transactions, payable by trading facilities or purchasers that deal in such transactions.
Requires a transferor with respect to any outbound securities transaction to deduct and withhold a tax equal to the tax imposed on covered securities transactions.
[Congressional Bills 112th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4277 Introduced in House (IH)]
112th CONGRESS
2d Session
H. R. 4277
To establish the National Full Employment Trust Fund to create
employment opportunities for the unemployed.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
March 28, 2012
Mr. Conyers 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 2012''.
SEC. 2. FINDINGS AND PURPOSE.
(a) Findings.--The 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 to expedite progress to
fulfill the right to useful work at living wages for all persons
seeking employment, as promptly as possible and at the earliest
practicable date 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 Investment Act of 1998 (29 U.S.C. 2801 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 during a fiscal year in which the national
unemployment rate is increasing, 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 Investment Act of 1998 (29 U.S.C. 2801 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
to encourage entities that receive funds under programs under the
Workforce Investment Act of 1998 (20 U.S.C. 2801 et seq.) that are
funded by the account described in subsection (c)(2) to, whenever
possible, establish a training stipend for individuals who participate
in such programs.
SEC. 5. EMPLOYMENT OPPORTUNITY GRANTS TO STATES, LOCAL GOVERNMENTS, AND
INDIAN TRIBES.
(a) Employment Grants Contingent on Level of Unemployment.--
(1) First year.--Subject to the availability of funds in
the Trust Fund for activities under this section, if, at the
beginning of a month in the first fiscal year for which funds
are available in the Trust Fund for activities under this
section, the United States has unemployment according to the
most recent monthly publications of the Bureau of Labor
Statistics of the Department of Labor, the Secretary shall make
grants for such month to States, unit of general local
governments, or Indian tribes to carry out activities in
accordance with this section. The total amount awarded under
this paragraph for such fiscal year shall not exceed 90 percent
of the funds available in the Trust Fund for such fiscal year.
(2) Succeeding years.--Subject to the availability of funds
in the Trust Fund for activities under this section, if, at the
beginning of a fiscal year subsequent to the fiscal year
described in paragraph (1), the United States has unemployment
according to the most recent monthly publications of the Bureau
of Labor Statistics of the Department of Labor, the Secretary
shall make grants for such fiscal year to States, units of
general local government, Indian tribes, or community-based
organizations to carry out activities in accordance with this
section. The total amount awarded under this paragraph for a
fiscal year shall not exceed 90 percent of the funds available
in the Trust Fund for such fiscal year.
(b) Purpose.--Grants made under this section shall be for 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.
(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
services, health care services, education, or recreational
programs.
(3) The remediation and demolition of vacant and abandoned
properties to eliminate blight.
(4) Programs that provide disadvantaged youth with
opportunities for employment, education, leadership
development, entrepreneurial skills development, and training.
(5) The painting and repair of schools, community centers,
and libraries.
(6) 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.
(7) The expansion of emergency food programs to reduce
hunger and promote family stability.
(8) The augmentation of staffing in Head Start, child care,
and other early childhood education programs to promote school
readiness and early literacy.
(9) The renovation and enhancement of maintenance of parks,
playgrounds, and other public spaces.
(10) Supplemental labor for existing federally or State-
funded infrastructure projects.
(11) Supplemental labor for existing federally or State-
funded projects aimed at expanding access to broadband or
wireless Internet service.
(12) 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, including 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)(i) 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--
(aa) has been laid off or partially
displaced (as such term is described in
subclause (I)); and
(bb) 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.
(ii) 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.
(iii) 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.
(B) A community-based organization receiving funds under
this Act may not use such funds to provide services or
functions that are customarily provided by a unit of general
local government where such services or functions are provided
by the organization.
(4) An individual hired to fill a job funded under this Act
shall register with and be certified by the appropriate State
employment service as eligible for such employment and shall
satisfy at least one of the following conditions as of the date
the individual is so hired:
(A) The individual is receiving unemployment
insurance benefits.
(B) The individual is unemployed, 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 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.
(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.--
(1) Grants for indian tribes and deposits into
discretionary fund.--Not more than 5 percent of the funds
available in the Trust Fund for activities under this section
for any fiscal year shall be reserved for grants to Indian
tribes and for deposit into a discretionary fund established by
the Secretary for national demonstration projects and multi-
jurisdictional projects.
(2) Grants to states.--Not more than 30 percent of the
funds available in the Trust Fund for activities under this
section for any fiscal year shall be allocated to States to
distribute to units of general local government that do not
qualify for funds under paragraph (3).
(3) Grants to units of general local government.--Grant
funds that are not reserved under paragraphs (1) and (2) shall
be allocated to metropolitan cities and urban counties using
the formula under section 106(b) of the Housing and Community
Development Act of 1974 (42 U.S.C. 5306(b)).
(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 grievant 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 nonentitlement 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 grievant
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.--The Secretary shall convene a national employment
conference not later than 1 year after the date of enactment of this
Act, to bring together leaders of small, medium, and large businesses,
labor, government, and all other interested parties.
(b) Subject.--The subject of the conference shall be employment,
with particular attention to structural unemployment and the plight of
disadvantaged youth. The conference shall also focus on issues such as
adequate and effective incentives for employers to hire the long-term
unemployed.
SEC. 7. INCLUSION OF MINORITY-SERVING, COMMUNITY-BASED ORGANIZATIONS IN
WIA STATE AND LOCAL WORKFORCE INVESTMENT BOARDS.
(a) State Boards.--Section 111(b)(1)(C)(v) of the Workforce
Investment Act of 1998 (29 U.S.C. 2821(b)(1)(C)(v)) is amended by
inserting before the semicolon ``(including not less than 25 percent of
the chief executive officers of minority-serving, community-based
organizations)''.
(b) Local Boards.--Section 117(b)(2)(A)(iv) of such Act (29 U.S.C.
2832(b)(2)(A)(iv)) is amended by inserting ``, and not less than 25
percent of the chief executive officers of minority-serving, community-
based organizations'' after ``present''.
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 securities transactions.
``SEC. 4475. TAX ON SECURITIES TRANSACTIONS.
``(a) Imposition of Tax.--
``(1) Stocks.--There is hereby imposed a tax on each
covered transaction in a stock contract of 0.25 percent of the
value of the instruments involved in such transaction.
``(2) Futures.--There is hereby imposed a tax on each
covered transaction in a futures contract of 0.02 percent of
the value of the instruments involved in such transaction.
``(3) Swaps.--There is hereby imposed a tax on each covered
transaction in a swaps contract of 0.02 percent of the value of
the instruments involved in such transaction.
``(4) Credit default swaps.--There is hereby imposed a tax
on each covered transaction in a credit default swaps contract
of 0.02 percent of the value of the instruments involved in
such transaction.
``(5) Options.--There is hereby imposed a tax on each
covered transaction in an options contract with respect to a
transaction described in paragraph (1), (2), (3), or (4) of--
``(A) the rate imposed with respect to such
underlying transaction under paragraph (1), (2), (3),
or (4) (as the case may be), multiplied by
``(B) the premium paid on such option.
``(b) Exception for Retirement Accounts, etc.--No tax shall be
imposed under subsection (a) with respect to any stock contract,
futures contract, swaps contract, credit default swap, or options
contract which is held in any plan, account, or arrangement described
in section 220, 223, 401(a), 403(a), 403(b), 408, 408A, 529, or 530.
``(c) 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) or of any derivative of such an interest.
``(d) 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 on
a trading facility located in the United States, such
trading facility, or
``(B) in any other case, the purchaser with respect
to the transaction.
``(2) Withholding if buyer is not a united states person.--
See section 1447 for withholding by seller if buyer is a
foreign person.
``(e) Covered Transaction.--The term `covered transaction' means
any purchase or sale if--
``(1) such purchase or sale occurs on a trading facility
located in the United States, or
``(2) the purchaser or seller is a United States person.
``(f) Administration.--The Secretary shall carry out this section
in consultation with the Securities and Exchange Commission and the
Commodity Futures Trading Commission.''.
(b) Withholding.--Subchapter A of chapter 3 of such Code is amended
by adding at the end the following new section:
``SEC. 1447. WITHHOLDING ON SECURITIES TRANSACTIONS.
``(a) In General.--In the case of any outbound securities
transaction, the transferor shall deduct and withhold a tax equal to
the tax imposed under section 4475 with respect to such transaction.
``(b) Outbound Securities Transaction.--For purposes of this
section, the term `outbound securities transaction' means any covered
transaction to which section 4475(a) applies if--
``(1) such transaction does not occur on a trading facility
located in the United States, and
``(2) the purchaser with respect to such transaction is not
a United States person.''.
(c) Clerical Amendments.--
(1) 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 Securities Transactions''.
(2) The table of sections for subchapter A of chapter 3 of
such Code is amended by adding at the end the following new
item:
``Sec. 1447. Withholding on securities 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.
<all>
Introduced in House
Introduced in House
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.
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.
Referred to the Subcommittee on Higher Education and Workforce Training.
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