I 
112TH CONGRESS 
1ST SESSION 
H. R. 870 
To establish the National Full Employment Trust Fund to create employment 
opportunities for the unemployed. 
IN THE HOUSE OF REPRESENTATIVES 
MARCH 2, 2011 
Mr. CONYERS introduced the following bill; which was referred to the Com-
mittee on Education and the Workforce, and in addition to the Com-
mittee 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 Representa-
tives 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’’ or the 
‘‘Work Opportunities and Revitalizing Our Communities 
Act’’. 
SEC. 2. DEFINITIONS. 
In this Act the following definitions apply: 
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102(6) of the Housing and Community Development 
Act (42 U.S.C. 5302(6)). 
SEC. 3. ESTABLISHMENT OF FULL EMPLOYMENT NATIONAL 
TRUST FUND. 
(a) IN GENERAL.—The Secretary shall establish a 
Full Employment National Trust Fund (in this Act re-
ferred to as the ‘‘Trust Fund’’) for the purposes of— 
(1) providing funding for the Employment Op-
portunity Grants established in section 4; and 
(2) issuing funds to the Secretary to fund the 
Workforce Investment Act (29 U.S.C. 2801 et seq.). 
(b) FINANCING THE TRUST FUND.—Subject to the 
availability of appropriations for this purpose, the Sec-
retary 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 7. 
(c) 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 sub-
section (b) and shall be for the Employment Oppor-
tunity Grants established in section 4. 
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(2) The other account shall consist of 33 per-
cent 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.). 
(d) 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. 
(e) TRAINING STIPEND.—The Secretary shall pro-
mulgate 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. 4. EMPLOYMENT OPPORTUNITY GRANTS TO STATES, 
LOCAL GOVERNMENT, AND INDIAN TRIBES. 
(a) EMPLOYMENT GRANTS CONTINGENT ON LEVEL 
OF UNEMPLOYMENT.—Subject to the availability of funds 
in the Trust Fund for activities under this section, if, at 
the beginning of a fiscal year, the economy is not at a 
level of full employment, as determined by the Chairman 
of the Federal Reserve Board, the Secretary shall make 
grants for such fiscal year, in amounts totaling 90 percent 
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of such funds available, to States, units of general local 
government, and Indian tribes to carry out activities in 
accordance with this section. 
(b) PURPOSE.—Grants made under this section shall 
be for creating employment opportunities for unemployed 
and underemployed residents of distressed communities in 
activities designed to address community needs and reduce 
disparities in health, housing, education, job readiness, 
and public infrastructure that have impeded these commu-
nities 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) During the initial 9-month period in which 
grants are made under this section, each grant shall 
be used only to fund the following types of fast-track 
job placements: 
(A) The painting and repair of schools, 
community centers, and libraries. 
(B) 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. 
(C) The expansion of emergency food pro-
grams to reduce hunger and promote family 
stability. 
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(D) The augmentation of staffing in Head 
Start, child care, and other early childhood edu-
cation programs to promote school readiness 
and early literacy. 
(E) The renovation and enhancement of 
maintenance of parks, playgrounds, and other 
public spaces. 
(2) Following the 9-month period described in 
paragraph (1), a recipient of a grant may use the 
remaining amount of the grant to assist public enti-
ties, nonprofit community-based organizations, pub-
lic-private partnerships, or small businesses to create 
opportunities for employment in the following areas: 
(A) Construction, re-construction, rehabili-
tation, and site improvements of residences or 
public facilities, including improvements in the 
energy efficiency or environmental quality of 
such public facilities or residences. 
(B) Provision of human services, including 
child care services, health care services, edu-
cation, or recreational programs. 
(C) The remediation and demolition of va-
cant and abandoned properties to eliminate 
blight. 
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(D) Programs that provide disadvantaged 
youth with opportunities for employment, edu-
cation, leadership development, entrepreneurial 
skills development, and training. 
(3) Providing supplemental labor for existing 
federally or State-funded infrastructure projects. 
(4) Providing supplemental labor for existing 
federally or State-funded projects aimed at expand-
ing access to broadband or wireless Internet service. 
(d) CONSULTATION REQUIRED.—Each grant recipi-
ent 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 paragraph 
(3); and 
(4) assess the effectiveness of job placements 
made under paragraph (1). 
(e) CONDITIONS.—As a condition of receiving a grant 
under this section, a grant recipient shall— 
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(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) allocate not less than 80 percent of the 
funding allocated to each project funded under the 
grant to wages, benefits, and support services, in-
cluding child care services, for individuals employed 
on such project; 
(3) ensure that employment on any project 
funded under the grant is carried out in accordance 
with subsection (c); 
(4) institute an outreach program with commu-
nity organizations and service providers in low-in-
come communities to provide information about 
placements funded under the grant to individuals 
suited to perform community infrastructure work; 
and 
(5) ensure that not less than 35 percent of indi-
viduals employed under the grant are individuals de-
scribed 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— 
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(A) employ such individual for not less 
than 12 months; 
(B) employ such individual for not less 
than 30 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 indi-
vidual equal to that which is paid to employees 
who have been employed to perform similar 
work prior to the date such individual was 
hired; and 
(E) if such employment is in construction, 
provide compensation to any laborer or me-
chanic employed under the grant at rates not 
less than those prevailing on similar construc-
tion in the locality as determined by the Sec-
retary of Labor in accordance with subchapter 
IV of chapter 31 of title 40, United States 
Code. 
(2) No individual whose employment is funded 
under the grant may work for an employer at which 
a collective bargaining agreement is in effect cov-
ering the same or similar work, unless— 
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(A) the consent of the union at such em-
ployer is obtained; and 
(B) negotiations have taken place between 
such union and the employer as to the terms 
and conditions of such employment. 
(3) An individual whose employment is funded 
under this Act may not displace other employees 
whose employment is not funded under this Act. A 
grant recipient under this Act may not hire an em-
ployee or employees with funds under this Act for 
any employment which the grant recipient would 
otherwise hire an employee who has been furloughed. 
(4) An individual whose employment is funded 
under this Act shall be— 
(A) unemployed for not less than 26 weeks 
prior to the receipt of the grant, as verified by 
the State or local department of labor, depart-
ment of welfare, or similar office charged with 
maintaining records of unemployment; or 
(B) unemployed for not less than 30 days 
prior to the receipt of the grant and be a low- 
income individual who is a member of a tar-
geted group (as defined by section 51(d) of the 
Internal Revenue Code of 1986) as verified by 
the State or local department of labor, depart-
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ment of welfare, or similar office charged with 
maintaining records of unemployment. 
For purposes of subparagraph (B), the hiring date 
(as defined in section 51(d)(11) of such Code) shall 
be the hiring date by an employer who receives a 
grant pursuant to this section. 
(g) AWARD OF GRANTS.— 
(1) SELECTION
CRITERIA.—In selecting a 
project to receive funding for employing the individ-
uals described in subsection (f)(4), a grant recipient 
shall consider— 
(A) the input of all participants in a pro-
posed 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 ob-
jectives 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 pri-
ority to projects that— 
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(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 fore-
closures; and 
(vii) the indicators of poor resident 
health, including high rates of chronic dis-
ease, 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 fea-
sible with pre-apprenticeship and apprenticeship 
programs; and 
(D) provide jobs in sectors where job 
growth is most likely, as determined by the Sec-
retary, and in which career advancement oppor-
tunities exist to maximize long-term, sustain-
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able employment for individuals after employ-
ment funded under this Act ends. 
(h) ALLOCATION OF GRANTS.— 
(1) GRANTS FOR INDIAN TRIBES AND DEPOSITS 
INTO DISCRETIONARY FUND.—Not more than 5 per-
cent of the funds available in the Trust Fund for ac-
tivities 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 Sec-
retary 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 gen-
eral 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 for-
mula under section 106(b) of the Housing and Com-
munity Development Act of 1974 (42 U.S.C. 
5306(b)). 
(i) REPORTS.— 
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on employment and economic activity of such 
projects during the previous fiscal year. 
(E) The amount of money received and ex-
pended 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-in-
come (as such terms are used for purposes of 
the Housing Act of 1937 and the regulations 
there under (42 U.S.C. 1437 et seq.)). 
(G) The amount expended on administra-
tive costs during the fiscal year. 
(2) REPORT
TO
CONGRESS.—At least once 
every 6 months, the Secretary shall submit to Con-
gress a report on the use of grants awarded under 
this section and any progress in job creation. 
SEC. 5. NATIONAL EMPLOYMENT CONFERENCE. 
(a) IN GENERAL.—The Secretary shall convene a na-
tional 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, govern-
ment, and all other interested parties. 
(b) SUBJECT.—The subject of the conference shall be 
employment, with particular attention to structural unem-
ployment and the plight of disadvantaged youth. The con-
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ference shall also focus on issues such as adequate and 
effective incentives for employers to hire the long-term un-
employed. 
SEC. 6. 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 in-
serting ‘‘, and not less than 25 percent of the chief execu-
tive officers of minority-serving, community-based organi-
zations’’ after ‘‘present’’. 
SEC. 7. TAX ON SECURITIES TRANSACTIONS. 
(a) IN GENERAL.—Chapter 36 of the Internal Rev-
enue Code of 1986 is amended by inserting after sub-
chapter B the following new subchapter: 
‘‘Subchapter C—Tax on Securities 
Transactions 
‘‘Sec. 4475. Tax on securities transactions. 
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‘‘SEC. 4475. TAX ON SECURITIES TRANSACTIONS. 
‘‘(a) IMPOSITION OF TAX.—There is hereby imposed 
a tax on each covered securities transaction an amount 
equal to the applicable percentage of the value of the secu-
rity involved in such transaction. 
‘‘(b) BY WHOM PAID.—The tax imposed by this sec-
tion shall be paid by the trading facility on which the 
transaction occurs. 
‘‘(c) APPLICABLE PERCENTAGE.—For purposes of 
this section, the term ‘applicable percentage’ means 0.25 
percent. 
‘‘(d) COVERED
SECURITIES
TRANSACTION.—The 
term ‘covered securities transaction’ means— 
‘‘(1) any transaction to which subsection (b), 
(c), or (d) of section 31 of the Securities Exchange 
Act of 1934 applies, and 
‘‘(2) any transaction subject to the exclusive ju-
risdiction of the Commodity Futures Trading Com-
mission. 
‘‘(e) ADMINISTRATION.—The Secretary shall carry 
out this section in consultation with the Securities and Ex-
change Commission and the Commodity Futures Trading 
Commission.’’. 
(b) CLERICAL AMENDMENT.—The table of sub-
chapters for chapter 36 of such Code is amended by in-
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serting after the item relating to subchapter B the fol-
lowing new item: 
‘‘SUBCHAPTER C. TAX ON SECURITIES TRANSACTIONS.’’. 
(c) EFFECTIVE DATE.—The amendments made by 
this subsection shall apply to sales occurring more than 
30 days after the date of the enactment of this Act. 
Æ 
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