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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 Feb 13, 2015.
Humphrey-Hawkins 21st Century Full Employment and Training Act of 2015
Directs the Secretary of Labor to establish a Full Employment National Trust Fund with two separate accounts for: (1) Employment Opportunity Grants to states, Indian tribes, local governments, publicly-funded elementary and secondary educational institutions, educational institutions in the Federal Work-Study Program, and tax-exempt non-profit organizations for job-creating activities in communities whose economy is not at a level of full employment; and (2) Workforce Investment programs.
Requires the Secretary, through studies conducted by the Department of Labor or through independent studies, to:
review the effectiveness of job training and job creation programs under this Act; disseminate information concerning best practices for achieving the Act's goals; and acquire a better understanding of the true cost of the programs. Establishes arbitration procedures for resolution of disputes for grant recipients. Requires the Secretary to post a whistleblower hotline on the Department's website for the public to report noncompliance with the Act's requirements.
Directs the Secretary to convene a national employment conference to meet annually to discuss 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.
Amends the Workforce Innovation and Opportunity Act to revise member composition requirements for state and local workforce development 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 the transfer of ownership in certain covered securities transactions, payable by trading facilities or brokers that deal in such transactions. Prescribes a penalty for persons who fail to include such transactions on any tax return or statement.
Directs the Secretary to suspend new hiring of unemployed persons and to freeze the hourly wages paid for jobs funded under this Act whenever it is determined that:
the unemployment rate is less than 4%, and the consumer price index (inflation) is greater than 3%.