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The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress, and was published on Mar 6, 2013.
Humphrey-Hawkins Full Employment and Training Act - 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.