,i  #aae? ,,congress  #a/ ,session  ,h4 
,r4 #ajjj  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,febru>y #i1 #bjag,mr4
 ,cony]s 7= himself1 ,mr4 ,nadl]1 ,ms4  
,kaptur1 ,ms4 ,wilson ( ,florida1 ,ms4  
,slaught]1 ,mr4 ,ellison1 ,ms4          
,s*ak[sky1 ,ms4 ,moore1 ,mr4 ,capuano1  
,mr4 ,grijalva1 ,mr4 ,pocan1 ,mr4       
,mc,govern1 ,ms4 ,norton1 ,mr4 ,veasey1 
,mr4 ,s]rano1 ,ms4 ,cl>ke ( ,new ,york1 
,mrs4 ,lawr5ce1 ,mr4 ,lewis ( ,georgia1 
,mr4 ,cumm+s1 ,mr4 ,danny ,k4 ,davis (  
,ill9ois1 ,ms4 ,eddie ,b]nice ,johnson (
 ,texas1 ,mr4 ,g>am5di1 ,mr4 ,ryan (    
,ohio1 ,mr4 ,meeks1 ,ms4 ,judy ,*u (    
,cali=nia1 ,mr4 ,al ,gre5 ( ,texas1     
,mrs4 ,beatty1 ,mr4 ,nolan1 & ,mr4      
,rask97 introduc$ ! foll[+ bill2 :i* 0  
ref]r$ to ! ,committee on ,education & !
 ,work=ce1 & 9 addition to ! ,committee 
on ,ways & ,means1 = a p]iod to be      
subsequ5tly det]m9$ by ! ,speak]1 9 ea* 
case = consid]ation ( su* provisions z  
fall )9 ! jurisdiction ( ! committee    
conc]n$  ,a ,,bill  ,to e/abli% !       

,national ,full ,employm5t ,tru/ ,fund  
to create employm5t opportunities = !   
unemploy$4  #a4 ,%ort title ,?is ,act   
%all be cit$ z ! ,humphrey-,hawk9s #ba/ 
,c5tury ,full ,employm5t & ,tra9+ ,act (
 #bjag or ! ,jobs = ,all ,act4  #b4     
,f9d+s & ,purpose  7a7 ,f9d+s ,congress 
f9ds ! foll[+3  7#a7 ,! ,full ,employm5t
 & ,balanc$ ,gr[? ,act ( #aigh e/abli%$ 
an int]im #e-ye> t>get ( #c-p]c5t       
unemploym5t = individuals #bj ye>s ( age
 & old]1 & #d p]c5t = individuals age   
#af & ov] )9 #e ye>s1 ) full employm5t  
to be a*iev$ z soon z practicable       
!reaft]4  7#b7 ,! ,f$]al ,gov]nm5t has  
previ\sly e/abli%$ full employm5t z a   
national goal 9 national legislation1   
includ+ ! ,employm5t ,act ( #aidf & !   
,full ,employm5t & ,balanc$ ,gr[? ,act (
 #aigh4  7#c7 ,pursuant to ^! ,acts1 !  
,congress decl>$ x is ! cont9u+ policy &
 responsibility ( ! ,f$]al ,gov]nm5t to 
use all practicable means to create &   
ma9ta9 conditions :i* promote useful    
employm5t opportunities = all :o seek   

!m1 includ+ ! self-employ$4 ,pursuant to
 ^! ,acts1 ! ,congress decl>$ & e/abli%$
 z a national goal ! fulfillm5t ( ! "r  
to full opportunities = useful paid     
employm5t at fair rates ( comp5sation ( 
all individuals able1 will+1 & seek+ to 
"w4  7#d7 ,! ,nation has suff]$         
sub/antial unemploym5t & und]employm5t1 
& idl5ess ( productive res\rces ov]     
prolong$ p]iods ( "t1 impos+ num]\s     
economic & social co/s on ! ,nation4    
7#e7 ,! ,nation has be5 depriv$ ( ! full
 supply ( goods & s]vices1 ! full       
utilization ( labor & capital res\rces1 
& ! relat$ increases 9 economic well-be+
 t w\ld occur "u conditions ( g5u9e full
 employm5t4  7#f7 ,! curr5t output (    
goods & s]vices is insuffici5t to meet  
press+ national priorities =            
infra/ructure1 transportation1 en]gy1   
education1 heal? c>e1 *ild & eld] c>e1 &
 _m o!r necess>y public & human s]vices4
  7#g7 ,unemploym5t & und]employm5t     
expose _m work]s & families to          
significant1 social1 psy*ological &     

physiological co/s1 includ+ disruption (
 family life1 ! loss ( individual       
dignity & self-respect1 & ! aggravation 
( physical & psy*ological illnesses4    
7#h7 ,p]si/+ unemploym5t & und]employm5t
 h deva/at+ f9ancial consequ5ces1       
result+ 9 ! loss ( income & sp5d+ p[] = 
families1 & int]f]+ ) _! ability to save
 & accumulate assets = a secure family  
life & retirem5t4 ,high levels (        
unemploym5t & inadequate consum] dem&   
also contribute to poor conditions =    
retail bus9esses1 manufactur]s & _m o!r 
firms to gr[ & prosp]4 ,9 ! real e/ate  
sector1 ! ,congress f9ds t cont9u+ high 
levels ( unemploym5t contribute to      
=eclosures1 evictions1 & comm]cial      
vacancies1 und]m9+ ! quality (          
neighborhood & community life1 & hamp]+ 
prospects = economic recov]y & national 
prosp]ity4  7#i7 ,! hi/oric promise (   
?is e>li] legislation has n be5 fully   
realiz$1 & we re-decl>e & reaffirm our  
support = a*iev+ a national goal ( jobs 
= all at liv+ wages4  7#aj7 ,! ,unit$   

,/ates has a duty "u ,articles #ee & #ef
 ( ! ,unit$ ,nations ,*>t] to promote   
8full employm5t0 & ! 8univ]sal respect  
=1 & obs]vance (1 human rights &        
fundam5tal fre$oms = all )\t di/9ction z
 to race1 sex1 language1 or religion04  
,! human rights ! ,unit$ ,/ates has a   
duty to promote pursuant to ?is         
obligation are set =? 9 ! ,univ]sal     
,decl>ation ( ,human ,rights4 ,article  
#bc ( ! ,univ]sal ,decl>ation /ates t   
8,ev]yone has ! "r to "w0 & to 8j &     
favorable remun]ation0 t insures = 8 or 
h] family 8an exi/5ce wor?y ( human     
dignity1 & supplem5t$1 if necess>y1 by  
o!r means ( social protection04  7#aa7  
,! ,congress has a /rong int]e/ 9 seek+ 
! progressive r$uction & elim9ation (   
job disp>ities among gr\ps ( work]s :o  
exp]i5ce *ronically high] rates (       
unemploym5t & und]employm5t4  7#ab7 ,ev5
 at ! top ( ! bus9ess cycle1 :5 national
 unemploym5t rates drop to ! #d-p]c5t to
 #e-p]c5t range1 job vacancy surveys %[ 
t ! economy does n provide en\gh jobs to

 employ ev]yone :o wants to "w4         
,reliance on direct job creation to     
close ! economy's job gap is especially 
important at su* times1 because x       
provides a means ( creat+ additional    
jobs )\t add+ significantly to          
inflation>y pressures1 a v difficult    
goal to a*ieve at ! top ( ! bus9ess     
cycle via macroeconomic policy          
int]v5tions4  7#ac7 ,! ,congress int5ds 
to maximize ! creation ( private1 public
 & nonpr(it sector jobs ?r\gh improv$   
use ( g5]al economic & /ructural        
policies1 includ+ measures to enc\rage  
private sector inve/m5t & capital       
=mation2 an increas$ public inve/m5t 9  
rese>* & developm5t1 infra/ructure1     
en]gy1 education1 public s]vices & !    
environm5t1 & o!r ess5tial goods &      
s]vices4  7b7 ,purpose ,x is ! purpose (
 ! ,humphrey-,hawk9s #ba/ ,c5tury ,full 
,employm5t & ,tra9+ ,act ( #bjae to     
fulfill ! "r to useful "w at liv+ wages 
= all p]sons seek+ employm5t by e/abli%+
 a ,full ,employm5t ,tru/ ,fund to fund 

& op]ate a national program ( public    
s]vice employm5t & to provide additional
 labor m>ket opportunities to complem5t 
^? (f]$ by ! exi/+ private1 public1 &   
nonpr(it sectors4  #c4 ,def9itions ,9   
?is ,act ! foll[+ def9itions apply3 7#a7
 ,indian tribe ,! t]m ,indian tribe has 
! mean+ giv5 su* t]m 9 section #ajb7ag7 
( ! ,h\s+ & ,community ,developm5t ,act 
7#db ,u4,s4,c4 #ecjb7ag774  7#b7        
,secret>y ,! t]m ,secret>y means !      
,secret>y ( ,labor4  7#c7 ,small bus9ess
 ,! t]m small bus9ess has ! mean+ giv5 !
 t]m small bus9ess conc]n "u section #c 
( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 
#fcb74  7#d7 ,/ate ,! t]m ,/ate has !   
mean+ giv5 su* t]m 9 section #ajb7b7 ( !
 ,h\s+ & ,community ,developm5t ,act    
7#db ,u4,s4,c4 #ecjb7b774  7#e7 ,tru/   
fund ,! t]m ,tru/ ,fund ref]s to ! ,full
 ,employm5t ,tru/ ,fund e/abli%$ "u     
section #d4  7#f7 ,unit ( g5]al local   
gov]nm5t ,! t]m unit ( g5]al local      
gov]nm5t has ! mean+ giv5 su* t]m 9     
section #ajb7a7 ( ! ,h\s+ & ,community  

,developm5t ,act 7#db ,u4,s4,c4         
#ecjb7a774  7#g7 ,urban c\nty ,! t]m    
urban c\nty has ! mean+ giv5 su* t]m 9  
section #ajb7f7 ( ! ,h\s+ & ,community  
,developm5t ,act 7#db ,u4,s4,c4         
#ecjb7f774  #d4 ,e/abli%m5t ,( ,full    
,employm5t ,national ,tru/ ,fund  7a7 ,9
 g5]al ,! ,secret>y %all e/abli% a ,full
 ,employm5t ,national ,tru/ ,fund 79 ?is
 ,act ref]r$ to z ! ,tru/ ,fund7 = !    
purposes (-- 7#a7 provid+ fund+ = !     
,employm5t ,opportunity ,grants e/abli%$
 9 section #e2 &  7#b7 issu+ funds to ! 
,secret>y to fund programs "u ! ,work=ce
 ,innovation & ,opportunity ,act ( #bjad
 7#bi ,u4,s4,c4 #caja et seq474  7b7    
,f9anc+ ! ,tru/ ,fund ,subject to !     
availability ( appropriations = ?is     
purpose1 ! ,secret>y ( ! ,treasury %all 
annually make available to ! ,secret>y (
 ,labor = deposit into ! ,tru/ ,fund an 
am\nt equal to ! am\nt collect$ = t ye> 
?r\gh ! tax describ$ 9 section #ddge ( !
 ,int]nal ,rev5ue ,code ( #aihf1 z add$ 
by section #h4  7c7 ,loans f ! ,f$]al   

,res]ve ,sy/em  7#a7 ,9 g5]al ,if !     
am\nt available 9 ! ,tru/ ,fund =       
allocation "u section #e is insuffici5t 
to prev5t ! national unemploym5t rate f 
ris+ m ?an "o full p]c5tage po9t above  
its previ\sly atta9$ level1 ! ,bo>d (   
,gov]nors ( ! ,f$]al ,res]ve ,sy/em %all
 l5d su* additional am\nts to ! ,tru/   
,fund z are necess>y to all[ ! ,secret>y
 ( ,labor to make su* additional        
allocations "u section #e z are necess>y
 to re/ore ! national unemploym5t rate  
to its all[able #a-p]c5t range ( upw>d  
v>iation4  7#b7 ,repaym5t ,am\nts l5t to
 ! ,tru/ ,fund by ! ,bo>d ( ,gov]nors ( 
! ,f$]al ,res]ve ,sy/em "u p>agraph 7#a7
 %all be repaid by ! ,tru/ ,fund ov] #aj
 ye>s1 ) int]e/ payable at ! same av]age
 rate ! ,f$]al ,gov]nm5t contracts to   
pay on #aj-ye> bonds sold dur+ ! p]iod  
beg9n+ #de days prior to ! date ! loans 
7 made to ! ,tru/ ,fund & end+ #de days 
foll[+ su* date4  7d7 ,sep>ate ,tru/    
,fund ,acc\nts ,! ,tru/ ,fund %all      
consi/ ( #b sep>ate acc\nts z foll[s3   

7#a7 ,"o acc\nt %all consi/ ( #fg p]c5t 
( ! funds made available = deposit "u   
subsection 7b7 & %all be = ! ,employm5t 
,opportunity ,grants e/abli%$ 9 section 
#e4  7#b7 ,! o!r acc\nt %all consi/ (   
#cc p]c5t ( ! funds made available =    
deposit "u subsection 7b7 & %all be     
available to ! ,secret>y to fund        
programs "u ! ,work=ce ,innovation &    
,opportunity ,act ( #bjad 7#bi ,u4,s4,c4
 #caja et seq474  7e7 ,web ,site ,!     
,secret>y %all e/abli% an ,int]net ,web 
site to s]ve z an in=mation cle>+h\se = 
job tra9+ & employm5t opportunities     
fund$ by ! ,tru/ ,fund4  7f7 ,tra9+     
/ip5d ,! ,secret>y %all promulgate      
regulations requir+ entities t receive  
funds "u programs "u ! ,work=ce         
,innovation & ,opportunity ,act ( #bjad 
7#bi ,u4,s4,c4 #caja et seq47 t are     
fund$ by ! acc\nt describ$ 9 subsection 
7d77#b7 to e/abli% tra9+ /ip5ds =       
individuals :o p>ticipate 9 su*         
programs4  7g7 ,rese>* facility ,!      
,secret>y1 ?r\gh /udies conduct$ by !   

,dep>tm5t ( ,labor or ?r\gh indep5d5t   
/udies1 %all--  7#a7 review !           
effectiv5ess ( job tra9+ & job creation 
programs fund$ "u ?is ,act2  7#b7       
dissem9ate in=mation conc]n+ be/        
practices = a*iev+ ! goals ( ! ,act z   
well z common difficulties enc\nt]$ 9 t 
endeavor2 &  7#c7 acquire a bett]       
und]/&+ ( ! true net co/ ( ! job tra9+ &
 job creation programs fund$ "u ?is ,act
 by docum5t+ ! indirect effects ( ^?    
programs on ! rev5ues receiv$ & co/s    
incurr$ by diff]5t levels ( gov]nm5t4   
#e4 ,employm5t opportunity grants  7a7  
,grants ,subject to ! availability (    
funds 9 ! ,tru/ ,fund1 ! ,secret>y %all 
make grants to eligible entities = !    
purpose ( creat+ employm5t opportunities
 = unemploy$ & und]employ$ individuals 9
 activities design$ to address community
 ne$s & r$uce disp>ities 9 heal?1 h\s+1 
education1 job read9ess1 & public       
infra/ructure t h imp$$ ^! communities f
 realiz+ _! full economic pot5tial4  7b7
 ,eligible entities ,entities eligible  

to receive grants "u ?is section %all   
include ,/ates1 ,indian tribes1 units ( 
g5]al local gov]nm5t1 elem5t>y &        
second>y educational in/itutions t d]ive
 _! support entirely or prim>ily f      
public funds1 educational in/itutions t 
p>ticipate 9 ! ,f$]al ,"w-,/udy         
,program1 & n-=-pr(it organizations t   
qualify z tax-exempt "u section         
#eja7;c77#c71 7#e71 7#h71 7#i71 7#ai71  
or 7#bf7 ( ! ,int]nal ,rev5ue ,code4    
7c7 ,use ( funds ,a recipi5t ( a grant  
"u ?is section %all use ! grant = !     
foll[+ purposes3 7#a7 ,con/ruction1     
re-con/ruction1 rehabilitation1 & site  
improvem5ts ( resid5ces or public       
facilities1 includ+ improvem5ts 9 !     
en]gy effici5cy or environm5tal quality 
( su* public facilities or resid5ces4   
7#b7 ,provision ( human s]vices1 includ+
 *ild c>e1 heal? c>e1 support s]vices = 
individuals & families ) special ne$s1  
education1 aft]-s*ool & vacation        
programs = *ildr51 & recreational &     
cultural enri*m5t programs = p]sons (   

all ages4  7#c7 ,programs t provide     
disadvantag$ y\? ) opportunities =      
employm5t1 education1 lead]%ip          
developm5t1 entrepr5eurial skills       
developm5t1 & tra9+4  7#d7 ,! repair1   
remodel+ & beautification ( s*ools1     
community c5t]s1 libr>ies & o!r         
community-bas$ public facilities1 & !   
augm5tation ( /aff+ = ! s]vices !y      
provide4  7#e7 ,! re/oration &          
revitalization ( ab&on$ & vacant        
prop]ties to alleviate blight 9 di/ress$
 & =eclosure-affect$ areas ( a unit (   
g5]al local gov]nm5t4  7#f7 ,! expansion
 ( em]g5cy food programs to r$uce hung] 
& promote family /ability4  7#g7 ,!     
augm5tation ( /aff+ 9 ,head ,/>t1 *ild  
c>e1 & o!r e>ly *ildhood education      
programs to promote s*ool read9ess1 e>ly
 lit]acy1 life-long le>n+1 & family     
involvem5t 9 _! *ildr5's education4     
7#h7 ,! r5ovation & enhancem5t (        
ma9t5ance ( p>ks1 playgr\nds1 & o!r     
public spaces4  7#i7 ,supplem5tal labor 
= exi/+ f$]ally or ,/ate-fund$          

infra/ructure projects4  7#aj7          
,supplem5tal labor = exi/+ f$]ally or   
,/ate-fund$ projects aim$ at exp&+      
access to broadb& or wireless ,int]net  
s]vice4  7#aa7 ,! implem5tation (       
environm5tal initiatives design$ to     
cons]ve natural res\rces1 rem$iate      
environm5tal damage1 rev]se climate     
*ange1 & a*ieve environm5tal            
su/a9ability4  7#ab7 ,! enhancem5t (    
em]g5cy prep>$ness = natural & o!r      
community disa/]s & ( po/-em]g5cy       
assi/ance = ! victims ( disa/]s4  7#ac7 
,! expansion ( "w-/udy opportunities =  
second>y & po/-second>y /ud5ts1 & !     
creation ( bridge employm5t             
opportunities = rec5t graduates :o h be5
 unable to f9d "w 9 ! occupations = :i* 
!y h tra9$4  7#ad7 ,o!r activities t    
address public ne$s & :i* c be implem5t$
 z quickly z ! activities describ$ 9    
p>agraphs 7#a7 ?r\gh 7#aa74  7d7        
,consultation requir$ ,ea* grant        
recipi5t %all consult ) community       
lead]s1 includ+ labor organizations1    

nonpr(it community-bas$ organizations1  
local gov]nm5t (ficials1 & local        
resid5ts to--  7#a7 assess ! ne$s ( !   
community s]v$ by ! grant recipi5t2     
7#b7 det]m9e sectors ( ! local economy t
 are 9 ne$ ( employees2  7#c7 make      
recomm5dations = new employm5t          
opportunities 9 ! areas describ$ 9      
subsection 7c72 &  7#d7 assess !        
effectiv5ess ( job placem5ts made "u ?is
 ,act4  7e7 ,conditions ,z a condition (
 receiv+ a grant "u ?is section1 a grant
 recipi5t %all-- 7#a7 agree to comply ) 
! nondiscrim9ation policy set =? "u     
section #aji ( ! ,h\s+ & ,community     
,developm5t ,act ( #aigd 7#db ,u4,s4,c4 
#ecji72  7#b7 ) respect to ! funds      
allocat$ = ea* project fund$ "u !       
grant-- 7,a7 allocate n less ?an #hj    
p]c5t = wages1 b5efits1 & support       
s]vices1 includ+ *ild c>e s]vices1 =    
individuals1 sup]visory & managem5t     
p]sonnel1 employ$ on su* project2 &     
7,b7 allocate ! rema9+ funds to defray !
 nonlabor co/s ( ! project1 includ+     

necess>y capital goods1 supplies1       
mat]ials1 r5tal paym5ts1 transportation 
co/s1 & o!r simil> exp5ses2  7#c7 use   
rev5ue g5]at$ by a project fund$ "u !   
grant 7:e!r 9 ! =m ( fees paid = s]vices
 provid$ by ! project1 reimbursem5ts =  
exp5ses incurr$ 9 und]tak+ ! project1 or
 income f ! sale ( goods or s]vices     
produc$ by ! project7 9 excess ( ! co/s 
( ! project to--  7,a7 supplem5t !      
project budget2 or  7,b7 support o!r    
projects fund$ by ! grant 9 con=mity ) !
 purposes ( ?is ,act & subject to ! same
 rules & requirem5ts t apply to o!r su* 
projects2  7#d7 ensure t employm5t on   
any project fund$ "u ! grant is c>ri$   
out 9 accordance ) subsection 7c72  7#e7
 in/itute an outrea* program ) community
 organizations & s]vice provid]s 9      
l[-income communities to provide        
in=mation ab\t placem5ts fund$ "u !     
grant to individuals suit$ to p]=m      
community infra/ructure "w2 &  7#f7     
ensure t n less ?an #ce p]c5t (         
individuals employ$ "u ! grant are      

individuals describ$ 9 p>agraph         
7#d77;,b7 ( subsection 7f74  7f7        
,employm5t describ$ ,employm5t fund$ "u 
?is section %all meet ! foll[+          
specifications3 7#a7 ,any employ] t     
employs an individual ^: employm5t is   
fund$ "u ! grant %all--  7,a7 cont9ue to
 employ su* individual = n less ?an #ab 
mon?s1 subject to ! individual's        
satisfactory p]=mance ( ! reasonable    
requirem5ts ( ! individual's employm5t2 
7,b7 if su* an individual desires       
full-"t employm5t1 employ su* individual
 = n less ?an #ce h\rs p] week & n m ?an
 #dj h\rs1 & if su* an individual       
desires "p-"t "w1 employ su* individual 
= a mutually agre$ numb] ( h\rs p] week 
t is less ?an #ce h\rs p] week2  7,c7   
comply ) responsible contractor /&>ds1 z
 det]m9$ by ! relevant (ficial 9 ! unit 
( local g5]al gov]nm5t2  7,d7 provide   
comp5sation to su* individual on a p]   
h\r basis equal to ! comp5sation provid$
 to public sector employees :o p]=m     
simil> "w 9 ! community :]e su*         

individual is employ$ or1 if no public  
sector employees p]=m su* simil> "w1    
provide comp5sation to su* individual t 
is comp>able to ! comp5sation provid$ to
 private-sector employees :o p]=m simil>
 "w 9 ! community :]e su* individual is 
employ$2  7,e7 if su* employm5t is 9    
con/ruction1 provide comp5sation to any 
labor] or me*anic employ$ "u ! grant at 
rates n less ?an ^? prevail+ on simil>  
con/ruction 9 ! locality z det]m9$ by ! 
,secret>y 9 accordance ) sub*apt] ,,iv (
 *apt] #ca ( title #dj1 ,unit$ ,/ates   
,code2 &  7,f7 (f] assi/ance to su*     
individual 9 apply+ = social b5efits =  
:i* su* individual or ! memb]s ( su*    
individual's family may be eligible4    
7#b7 ,no individual ^: employm5t is     
fund$ "u ! grant may "w = an employ] at 
:i* a collective b>ga9+ agreem5t is 9   
effect cov]+ ! same or simil> "w1       
unless--  7,a7 ! cons5t ( ! union at su*
 employ] is obta9$2 &  7,b7 negotiations
 h tak5 place betwe5 su* union & !      
employ] z to ! t]ms & conditions ( su*  

employm5t4  7#c7  7,a7 ,an employ] may n
 employ an individual = a position fund$
 "u ?is ,act1 if-- 7i7 employ+ su*      
individual w result 9 ! lay(f or p>tial 
displacem5t 7su* z a r$uction 9 h\rs1   
wages1 or employee b5efits7 ( an exi/+  
employee ( ! employ]2 or  7ii7 su*      
individual w p]=m ! same or sub/antially
 simil> "w t _h previ\sly be5 p]=m$ by  
an employee ( ! employ] :o--  7,i7 has  
be5 laid (f or p>tially displac$ 7z su* 
t]m is describ$ 9 subclause 7,i772 &    
7,,ii7 has n be5 (f]$ by ! employ]1 to  
be re/or$ to ! position ! employee _h   
imm$iately prior to be+ laid (f or      
p>tially displac$4  7,b7 ,= ! purposes (
 ?is p>agraph1 a position %all be       
consid]$ to h be5 elim9at$ by an employ]
 if ! position has rema9$ unfill$ & !   
unit or organization has n s\ght to fill
 su* position = at lea/ a p]iod ( "o    
mon?4  7,c7 ,an individual may n be hir$
 = a position fund$ "u ?is ,act 9 a     
mann] t infr+es ^u ! promotional        
opportunities ( an exi/+ employee 7z ( !

 date ( su* hir+7 ( an employ] receiv+  
funds "u ?is ,act4  7#d7 ,an individual 
seek+ employm5t 9 a job fund$ "u ?is    
,act %all h _! eligibility = su*        
employm5t c]tifi$ by ! ,/ate employm5t  
s]vice 9 ! ,/ate :]e ! job is locat$4   
,to be c]tifi$ z eligible = su*         
employm5t1 ! individual %all satisfy at 
lea/ "o ( ! foll[+ conditions z ( ! date
 ! individual is hir$ to fill a job     
fund$ "u ?is ,act3  7,a7 ,! individual  
is receiv+ unemploym5t insurance        
b5efits4  7,b7 ,! individual is         
unemploy$1 is a memb] ( a t>get$ gr\p z 
def9$ by section #ea7;d7 ( ! ,int]nal   
,rev5ue ,code ( #aihf1 & has be5 seek+  
employm5t1 ) ! assi/ance ( ! ,/ate      
employm5t s]vice1 = n less ?an #cj days 
prior to ! date on :i* ! individual is s
 hir$4  7,c7 ,! individual is unemploy$ 
& has be5 seek+ employm5t1 ) ! assi/ance
 ( ! ,/ate employm5t s]vice1 = n less   
?an #fj days prior to ! date !          
individual is s hir$4  7,d7 ,!          
individual has be5 employ$ "p-"t :ile   

seek+ full-"t employm5t ) ! assi/ance ( 
! ,/ate employm5t s]vice = n less ?an   
#ac weeks prior to ! date ! individual  
is s hir$4  7#e7 ,an individual employ$ 
9 a job fund$ "u ?is ,act %all-- 7,a7   
not)/&+ ! individual's employm5t 9 a job
 fund$ "u ?is ,act1 be regi/]$ ) !      
appropriate ,/ate employm5t s]vice z    
available = & seek+ "w2  7,b7 respond   
appropriately1 z a p]son available = &  
seek+ employm5t1 to ref]rals by ! ,/ate 
employm5t s]vice conc]n+ available jobs2
  7,c7 apply = suitable jobs = :i* !    
individual has be5 ref]r$ by ! ,/ate    
employm5t s]vice2 &  7,d7 accept a      
suitable job if su* job is (f]$ to !    
individual4  ,= purposes ( subp>agraphs 
7,c7 & 7,d71 ! t]m suitable job means a 
job t a newly unemploy$ individual      
receiv+ unemploym5t insurance b5efits   
w\ld be requir$ to accept 9 ord] to     
avoid =feit+ ! individual's eligibility 
= cont9u$ receipt ( unemploym5t         
insurance b5efits "u ! laws ( ! ,/ate 9 
:i* ! individual is employ$ 9 a job     

fund$ "u ?is ,act4 ,an individual       
employ$ "u ?is ,act %all be grant$ "t (f
 ) pay to comply ) subp>agraph 7,c74 ,an
 individual :o fails to comply ) !      
requirem5ts set =? 9 subp>agraphs 7,c7 &
 7,d7 )\t good cause %all be subject to 
disqualification = employm5t 9 a job    
fund$ "u ?is act = a p]iod n to exce$   
#ac weeks1 aft] :i* "t ! individual's   
eligibility %all be re/or$ provid$ !y h 
satisfi$ ! eligibility requirem5ts set  
=? 9 p>agraph #d4 ,any su*              
disqualification mu/ be effect$ 9 accord
 ) ! laws1 regulations & proc$ures t    
gov]n an individual's disqualification f
 cont9u$ receipt ( ,unemploym5t         
,insurance b5efits 9 ! ,/ate1 except t  
no wages paid or ow+ to ! individual =  
"w already p]=m$ c be =feit$ z a result 
( su* proce$+4  7#f7 ,an individual     
employ$ 9 a job fund$ "u ?is ,act :o    
t]m9ates t employm5t 9 ord] to accept   
o!r employm5t1 & :o subsequ5tly is      
t]m9at$ f t o!r employm5t )\t fault on !
 individual's "p1 %all be eligible =    

imm$iate reemploym5t 9 a job fund$ "u   
?is ,act4  7#g7 ,9 hir+ individuals =   
positions fund$ "u ?is ,act1 or us+     
funds "u ?is ,act to cont9ue to provide 
employee comp5sation = exi/+ employees1 
an employ] %all comply ) all applicable 
,f$]al1 ,/ate1 & local laws1 p]sonnel   
policies & regulations1 & collective    
b>ga9+ agreem5ts1 z if su* individual 0 
hir$1 or su* employee comp5sation 7     
provid$1 )\t assi/ance "u ?is ,act4     
7#h7 ,an individual hir$ = a position   
fund$ "u ?is ,act %all-- 7,a7 be        
consid]$ an employee ( ! employ]1 by :i*
 su* individual 0 hir$2 &  7,b7 receive 
! same employee comp5sation1 h ! same   
rights & responsibilities & job         
classifications1 & be subject to ! same 
job /&>ds1 employ] policies1 &          
collective b>ga9+ agreem5ts z if su*    
individual 7 hir$ )\t assi/ance "u ?is  
,act4  7g7 ,aw>d ( ,grants  7#a7        
,selection crit]ia ,9 select+ a project 
to receive fund+ = employ+ ! individuals
 describ$ 9 subsection 7f77#d71 a grant 

recipi5t %all consid]--  7,a7 ! input ( 
all p>ticipants 9 a propos$ project1    
includ+ labor organizations1 community  
organizations1 & employ]s2  7,b7 ! ne$s 
( ! community int5d$ to b5efit f su*    
project2  7,c7 ! long-t]m goals &       
%ort-t]m objectives to address su* ne$s2
 &  7,d7 any recomm5dations = programs &
 activities develop$ to meet su* ne$s4  
7#b7 ,priority giv5 to c]ta9 projects ,a
 grant recipi5t "u ?is section %all give
 priority to projects t--  7,a7 s]ve    
areas ) ! greate/ level ( economic ne$1 
det]m9$ = ea* su* area by-- 7i7 !       
unemploym5t rate2  7ii7 ! rate ( pov]ty2
  7iii7 ! numb] ( c5sus tracts )        
conc5trat$ pov]ty2  7iv7 ! l[e/ m$ian   
income2  7v7 ! p]c5tage ( vacant &      
ab&on$ prop]ties2  7vi7 ! p]c5tage (    
home =eclosures2 &  7vii7 ! indicators (
 poor resid5t heal?1 includ+ high rates 
( *ronic disease1 infant mortality1 &   
life expectancy2  7,b7 integrate        
education & job skills tra9+1 includ+   
basic skills in/ruction & second>y      

education s]vices2  7,c7 coord9ate to ! 
maximum ext5t feasible )                
pre-appr5tice%ip & appr5tice%ip         
programs2 &  7,d7 provide jobs 9 sectors
 :]e job gr[? is mo/ likely1 z det]m9$  
by ! ,secret>y1 & 9 :i* c>e] advancem5t 
opportunities exi/ to maximize long-t]m1
 su/a9able employm5t = individuals aft] 
employm5t fund$ "u ?is ,act ends4  7h7  
,allocation ( ,grants ,! total am\nt (  
grant fund+ aw>d$ "u ?is section = a    
fiscal ye> %all n exce$ #ij p]c5t ( !   
funds available 9 ! acc\nt describ$ 9   
section #d7;d77#a7 = su* ye>4 ,!        
,secret>y %all develop crit]ia = !      
allocation ( ^! funds4 ,^! crit]ia %all 
ensure1 to ! ext5t reasonably possible1 
t--  7#a7 ! numb] ( jobs creat$ ) ^?    
funds 9 ea* community w be proportionate
 to ! level ( unemploym5t1 involunt>y   
"p-"t employm5t1 & non-labor-=ce        
p>ticipation by p]sons :o want & are    
available to accept jobs 9 ea*          
community1 &  7#b7 ! type ( jobs creat$ 
) ^? funds 9 ea* community w be design$ 

to mat* ! qualifications ( unemploy$ &  
"u-employ$ job-seek]s 9 ^? communities1 
tak+ into consid]ation available tra9+  
opportunities4  ,if ! total numb] ( jobs
 creat$ 9 a p>ticul> community "u ?is   
,act falls %ort ( ! numb] ne$$ to       
provide jobs = sub/antially all job     
seek]s1 ! ,secret>y ( ,labor %all h !   
au?ority to e/abli% & adm9i/] its own   
job creation projects 9 ! community4    
7i7 ,reports  7#a7 ,reports by grant    
recipi5ts ,n lat] ?an #ij days aft] !   
la/ day ( ea* fiscal ye> 9 :i* assi/ance
 "u ?is section is furni%$1 a recipi5t (
 a grant "u ?is section %all submit to !
 ,secret>y a report conta9+ ! foll[+3   
7,a7 ,a description ( ! progress made 9 
accompli%+ ! objectives ( ?is *apt]4    
7,b7 ,a summ>y ( ! use ( ! grant dur+ ! 
prec$+ fiscal ye>4  7,c7 ,= units (     
g5]al local gov]nm5t1 a li/+ ( ea*      
entity receiv+ funds & ! am\nt ( su*    
grants1 z well z a brief summ>y ( !     
projects fund$ = ea* su* unit1 ! ext5t (
 f9ancial p>ticipation by o!r public or 

private entities1 & ! impact on         
employm5t & economic activity ( su*     
projects dur+ ! previ\s fiscal ye>4     
7,d7 ,= ,/ates1 a li/+ ( ea* unit (     
g5]al local gov]nm5t receiv+ funds & !  
am\nt ( su* grants1 z well z a brief    
summ>y ( ! projects fund$ = ea* su*     
unit1 ! ext5t ( f9ancial p>ticipation by
 o!r public or private entities1 & !    
impact on employm5t & economic activity 
( su* projects dur+ ! previ\s fiscal    
ye>4  7,e7 ,! am\nt ( money receiv$ &   
exp5d$ dur+ ! fiscal ye>4  7,f7 ,! numb]
 ( individuals assi/$ "u ! grant ^:     
h\sehold income is l[-income1 v         
l[-income1 or extremely l[-income 7z su*
 t]ms are us$ = purposes ( ! ,h\s+ ,act 
( #aicg & ! regulations !reund] 7#db    
,u4,s4,c4 #adcg et seq4774  7,g7 ,!     
am\nt exp5d$ on adm9i/rative co/s dur+ !
 fiscal ye>4  7#b7 ,report to ,congress 
,at lea/ once e #f mon?s1 ! ,secret>y   
%all submit to ,congress a report on !  
use ( grants aw>d$ "u ?is section & any 
progress 9 job creation4  7j7           

,e/abli%m5t ( arbitration proc$ure  7#a7
 ,9 g5]al ,ea* grant recipi5t "u ?is    
section %all agree to ! arbitration     
proc$ure describ$ 9 ?is subsection to   
resolve disputes describ$ 9 subsections 
7k7 & 7l74  7#b7 ,writt5 grievances     
7,a7 ,9 g5]al ,if an employee 7or an    
employee repres5tative7 wi%es to use !  
arbitration proc$ure describ$ 9 ?is     
subsection1 su* p>ty %all file a writt5 
grievance )9 ! "t p]iod requir$ "u      
subsection 7k7 or 7l71 z applicable1    
simultane\sly ) ! *ief executive (fic] (
 a unit or ,/ate involv$ 9 ! dispute & !
 ,secret>y4  7,b7 ,9-p]son meet+ ,n lat]
 ?an #aj days aft] ! date ( ! fil+ ( !  
grievance1 ! *ief executive (fic] 7or ! 
designee ( ! *ief executive (fic]7 %all 
h an 9-p]son meet+ ) ! p>ty to resolve !
 grievance4  7#c7 ,arbitration  7,a7    
,submission ,if ! grievance is n resolv$
 )9 ! "t p]iod describ$ 9 p>agraph      
7#b77;,b71 a p>ty1 by writt5 notice to !
 o!r p>ty involv$1 may submit su*       
grievance to b9d+ arbitration be=e a    

qualifi$ arbitrator :o is jo9tly select$
 & indep5d5t ( ! p>ties4  7,b7          
,appo9tm5t by ,secret>y ,if ! p>ties _c 
agree on an arbitrator )9 #e days (     
submitt+ ! grievance to b9d+ arbitration
 "u subp>agraph 7,a71 "o ( ! p>ties may 
submit a reque/ to ! ,secret>y to appo9t
 a qualifi$ & indep5d5t arbitrator4 ,!  
,secret>y %all appo9t a qualifi$ &      
indep5d5t arbitrator )9 #ae days aft]   
receiv+ ! reque/4  7,c7 ,he>+ ,unless ! 
p>ties mutually agree o!rwise1 !        
arbitrator %all conduct a he>+ on !     
grievance & issue a decision n lat] ?an 
#cj days aft] ! date su* arbitrator is  
select$ or appo9t$4  7,d7 ,co/s  7i7 ,9 
g5]al ,except z provid$ 9 clause 7ii71 !
 co/ ( an arbitration proce$+ %all be   
divid$ ev5ly betwe5 ! p>ties to !       
arbitration4  7ii7 ,exception ,if a     
griev+ p>ty prevails "u an arbitration  
proce$+1 ! recipi5t ( a grant "u ?is    
section %all pay ! co/ ( su* proce$+1   
includ+ attorneys' fees4  7k7 ,disputes 
conc]n+ ! allotm5t ( funds ,9 a case :]e

 a unit ( g5]al local gov]nm5t t is an  
entitlem5t community or a ,/ate has     
improp]ly reque/$ funds = s]vices or    
functions to be provid$ by a            
community-bas$ organization t are       
cu/om>ily provid$ by ! unit or1 9 ! case
 ( a ,/ate1 by a unit locat$ 9 !        
non-entitlem5t area ( ! ,/ate :]e       
s]vices or functions w be provid$ by !  
organization1 an employee or employee   
repres5tative ( ! unit or ,/ate may file
 a grievance "u subsection 7j7 n lat]   
?an #ae days aft] public notice ( an    
int5t to submit an application "u ?is   
section is publi%$4 ,^u receiv+ a copy (
 ! grievance1 ! ,secret>y %all )hold !  
funds subject to su* grievance1 unless &
 until ! grievance is resolv$ "u        
subsection 7j71 by ! p>ties or an       
arbitrator 9 favor ( provid+ su* fund+4 
7l7 ,all o!r disputes  7#a7 ,9 g5]al ,9 
! case ( a dispute n cov]$ "u subsection
 7k7 conc]n+ compliance ) ! requirem5ts 
( ?is section by a recipi5t ( a grant "u
 ?is section1 an employee or employee   

repres5tative ( ! unit or ,/ate may file
 a grievance "u subsection 7k7 n lat]   
?an #ij days aft] ! dispute arises4 ,9  
su* cases1 an arbitrator may aw>d su*   
rem$ies z are necess>y to make ! griev+ 
p>ty :ole1 includ+ ! re9/atem5t ( a     
displac$ employee or ! paym5t ( back    
wages1 & may submit recomm5dations to ! 
,secret>y to ensure fur!r compliance ) !
 requirem5ts ( ?is title1 includ+       
recomm5dations to susp5d or t]m9ate     
fund+1 or to require ! repaym5t ( funds 
receiv$ "u ?is title dur+ any p]iod (   
noncompliance4  7#b7 ,exi/+ grievance   
proc$ures ,a p>ty to a dispute describ$ 
9 p>agraph 7#a7 may use ! exi/+         
grievance proc$ure ( a recipi5t ( a     
grant "u ?is section1 or ! arbitration  
proc$ure describ$ 9 ?is subsection1 to  
resolve su* dispute4  7m7 ,p>ty def9$ ,=
 purposes ( subsections 7j71 7k71 & 7l71
 ! t]m p>ty means ! employee & !        
recipi5t ( a grant "u ?is section1      
involv$ 9 a dispute describ$ 9          
subsection 7k7 or 7l74  7n7 ,:i/lebl[]  

,hotl9e2 ,en=cem5t by ! ,secret>y  7#a7 
,:i/lebl[] hotl9e ,! ,secret>y %all po/ 
on a publicly accessible ,int]net ,web  
site ( ! ,dep>tm5t ( ,labor ! contact   
in=mation = report+ noncompliance ) ?is 
title by a ,/ate1 unit ( g5]al local    
gov]nm5t1 community-bas$ organization1  
or individual receiv+ fund+ "u ?is      
title4  7#b7 ,en=cem5t by ! ,secret>y   
7,a7 ,9 g5]al ,if ! ,secret>y receives a
 compla9t alleg+ noncompliance ) ?is    
title1 ! ,secret>y may conduct an       
inve/igation & aft] notice & an         
opportunity = a he>+1 may ord] su*      
rem$ies z ! ,secret>y det]m9es          
appropriate1 includ+--  7i7 )hold+ fur!r
 funds "u ?is title to a noncompliant   
entity2  7ii7 requir+ ! entity to make  
an injur$ p>ty :ole2 or  7iii7 requir+ !
 entity to repay to ! ,secret>y any     
funds receiv$ "u ?is title dur+ any     
p]iod ( noncompliance4  7,b7            
,recomm5dation by an arbitrator ,a rem$y
 describ$ 9 subp>agraph 7,a7 may also be
 ord]$ by ! ,secret>y ^u recomm5dation  

by an arbitrator appo9t$ or select$ "u  
?is section4  #f4 ,national ,employm5t  
,conf]5ce  7a7 ,9 g5]al ,us+ funds      
describ$ 9 section #d7;d77#b71 !        
,secret>y %all conv5e a national        
employm5t conf]5ce n lat] ?an #a ye>    
aft] ! date ( enactm5t ( ?is ,act1 &    
annually !reaft]4  7b7 ,subject ,!      
subject ( ! conf]5ce %all be ! role (   
?is ,act 9 address+ all aspects ( !     
problems ( unemploym5t1 ! %>+ ( be/     
practices 9 address+ ^? problems1 & !   
discussion ( problems 9 ! adm9i/ration (
 ?is ,act4  #g4 ,inclusion (            
m9ority-s]v+1 community-bas$            
organizations 9 ,/ate & local work=ce   
developm5t bo>ds  7a7 ,/ate ,bo>ds      
,section #aja7;b77#a77;,c7 ( ! ,work=ce 
,innovation & ,opportunity ,act 7#bi    
,u4,s4,c4 #caaa7;b77#a77;,c77 is am5d$--
  7#a7 by /rik+ & at ! end ( subclause  
7,,ii72  7#b7 by ins]t+ & at ! end (    
subclause 7,,iii72 &  7#c7 by add+ at ! 
end ! foll[+3  7,,iv7 are n less ?an #be
 p]c5t ( ! *ief executive (fic]s (      

m9ority-s]v+1 community-bas$            
organizations2  4  7b7 ,local ,bo>ds    
,section #ajg7;b77#b77;,c7 ( su* ,act   
7#bi ,u4,s4,c4 #cabb7;b77#b77;,a77 is   
am5d$ by add+ at ! end ! foll[+3  7iv7  
%all include n less ?an #be p]c5t ( !   
*ief executive (fic]s ( m9ority-s]v+1   
community-bas$ organizations2  4  7c7   
,effective date ,! am5dm5ts made by ?is 
section %all take effect z if enact$ z  
"p ( ! ,work=ce ,innovation &           
,opportunity ,act 7#bi ,u4,s4,c4 #caja  
et seq474  #h4 ,tax on securities       
transactions  7a7 ,9 g5]al ,*apt] #cf ( 
! ,int]nal ,rev5ue ,code ( #aihf is     
am5d$ by ins]t+ aft] sub*apt] ,b !      
foll[+ new sub*apt]3  ,c ,tax on        
,securities ,transactions  #ddge4 ,tax  
on trad+ transactions  7a7 ,imposition (
 tax ,!re is h]eby impos$ a tax on !    
transf] ( own]%ip 9 ea* cov]$           
transaction ) respect to any security4  
7b7 ,rate ( tax ,! tax impos$ "u        
subsection 7a7 ) respect to any cov]$   
transaction %all be ! applicable        

p]c5tage ( ! specifi$ base am\nt )      
respect to su* cov]$ transaction4 ,!    
applicable p]c5tage %all be--  7#a7 #j4b
 p]c5t 9 ! case ( a security describ$ 9 
subp>agraph 7,a7 or 7,b7 ( subsection   
7e77#a71  7#b7 #j4jf p]c5t 9 ! case ( a 
security describ$ 9 subp>agraph 7,c7 (  
subsection 7e77#a71  7#c7 #j4b p]c5t 9 !
 case ( a security describ$ 9           
subp>agraph 7,d7 ( subsection 7e77#a7 if
 ! und]ly+ assets on :i* ! rights &     
obligations creat$ by ! security are    
bas$ consi/ ( o!r securities describ$ 9 
subp>agraph 7,a7 or 7,b7 ( subsection   
7e77#a71  7#d7 #j4b p]c5t 9 ! case ( a  
security describ$ 9 subp>agraph 7,f7 (  
subsection 7e77#a7 if ! index on :i* !  
rights & obligations creat$ by !        
security are bas$ is an index ref]5c+ ! 
values ( securities describ$ 9          
subp>agraph 7,a7 or 7,b7 ( subsection   
7e77#a77;,a71 &  7#e7 #j4jf p]c5t 9 !   
case ( any security describ$ 9          
subp>agraph 7,d71 7,e71 or 7,f7 (       
subsection 7e77#a7 7o!r ?an a security  

describ$ 9 p>agraph 7#c7 or 7#d774  7c7 
,specifi$ base am\nt ,= purposes ( ?is  
section1 ! t]m specifi$ base am\nt      
means-- 7#a7 except z provid$ 9 p>agraph
 7#b71 ! fair m>ket value ( ! security  
7det]m9$ z ( ! "t ( ! cov]$             
transaction71 &  7#b7 9 ! case ( any    
paym5t describ$ 9 subsection 7h71 !     
am\nt ( su* paym5t4  7d7 ,cov]$         
transaction ,= purposes ( ?is section1 !
 t]m cov]$ transaction means--  7#a7    
except z provid$ 9 p>agraph 7#b71 any   
pur*ase if-- 7,a7 su* pur*ase occurs or 
is cle>$ on a facility locat$ 9 ! ,unit$
 ,/ates1 or  7,b7 ! pur*as] or sell] is 
a ,unit$ ,/ates p]son1 &  7#b7 any      
transaction ) respect to a security     
describ$ 9 subp>agraph 7,d71 7,e71 or   
7,f7 ( subsection 7e77#a71 if--  7,a7   
su* security is trad$ or cle>$ on a     
facility locat$ 9 ! ,unit$ ,/ates1 or   
7,b7 any p>ty ) rights "u su* security  
is a ,unit$ ,/ates p]son4  7e7 ,security
 & o!r def9itions ,= purposes ( ?is     
section-- 7#a7 ,9 g5]al ,! t]m security 

means--  7,a7 any %>e ( /ock 9 a        
corporation1  7,b7 any p>tn]%ip or      
b5eficial own]%ip int]e/ 9 a p>tn]%ip or
 tru/1  7,c7 any note1 bond1 deb5ture1  
or o!r evid5ce ( indebt$ness1 o!r ?an a 
,/ate or local bond ! int]e/ ( :i* is   
exclud$ f gross income "u section       
#ajc7;a71  7,d7 any evid5ce ( an int]e/ 
91 or a d]ivative f9ancial in/rum5t )   
respect to1 any security or securities  
describ$ 9 subp>agraph 7,a71 7,b71 or   
7,c71  7,e7 any d]ivative f9ancial      
in/rum5t ) respect to any curr5cy or    
commodity includ+ notional pr9cipal     
contracts1 &  7,f7 any o!r d]ivative    
f9ancial in/rum5t any paym5t ) respect  
to :i* is calculat$ by ref]5ce to any   
specifi$ index4  7#b7 ,d]ivative        
f9ancial in/rum5t ,! t]m d]ivative      
f9ancial in/rum5t includes any option1  
=w>d contract1 futures contract1        
notional pr9cipal contract1 or any      
simil> f9ancial in/rum5t4  7#c7         
,specifi$ index ,! t]m specifi$ index   
means any "o or m ( any comb9ation (--  

7,a7 a fix$ rate1 price1 or am\nt1 or   
7,b7 a v>iable rate1 price1 or am\nt1   
:i* is bas$ on any curr5t objectively   
det]m9able in=mation :i* is n )9 !      
control ( any ( ! p>ties to ! contract  
or in/rum5t & is n unique to any ( !    
p>ties' circum/ances4  7#d7 ,treatm5t ( 
ex*anges  7,a7 ,9 g5]al ,an ex*ange %all
 be treat$ z ! sale ( ! prop]ty         
transf]r$ & a pur*ase ( ! prop]ty       
receiv$ by ea* p>ty to ! ex*ange4  7,b7 
,c]ta9 deem$ ex*anges ,9 ! case ( a     
di/ribution treat$ z an ex*ange = /ock  
"u section #cjb or #cca1 ! corporation  
mak+ su* di/ribution %all be treat$ z   
hav+ pur*as$ su* /ock = purposes ( ?is  
section4  7f7 ,exceptions  7#a7         
,exception = initial issues ,no tax %all
 be impos$ "u subsection 7a7 on any     
cov]$ transaction ) respect to ! initial
 issuance ( any security describ$ 9     
subp>agraph 7,a71 7,b71 or 7,c7 (       
subsection 7e77#a74  7#b7 ,exception =  
c]ta9 trad$ %ort-t]m indebt$ness ,a     
note1 bond1 deb5ture1 or o!r evid5ce (  

indebt$ness :i*-- 7,a7 is trad$ on a    
trad+ facility locat$ 9 ! ,unit$ ,/ates1
 &  7,b7 has a fix$ maturity ( n m ?an  
#fj days1 %all n be treat$ z describ$ 9 
subsection 7e77#a77;,c74  7#c7          
,exception = securities l5d+ arrangem5ts
 ,no tax %all be impos$ "u subsection   
7a7 on any cov]$ transaction ) respect  
to :i* ga9 or loss is n recogniz$ by    
reason ( section #ajeh4  7#d7 ,exception
 = int]e/s 9 mutual funds ,no tax %all  
be impos$ "u subsection 7a7 ) respect to
 ! pur*ase or sale ( any int]e/ 9 a     
regulat$ inve/m5t company 7z def9$ 9    
section #hea74  7g7 ,by :om paid  7#a7  
,9 g5]al ,! tax impos$ by ?is section   
%all be paid by-- 7,a7 9 ! case ( a     
transaction :i* occurs or is cle>$ on a 
facility locat$ 9 ! ,unit$ ,/ates1 su*  
facility1 &  7,b7 9 ! case ( a pur*ase n
 describ$ 9 subp>agraph 7,a7 :i* is     
execut$ by a brok] 7z def9$ 9 section   
#fjde7;c77#a771 ! brok]4  7#b7 ,special 
rules = direct1 etc41 transactions ,9 ! 
case ( any transaction to :i* p>agraph  

7#a7 does n apply1 ! tax impos$ by ?is  
section %all be paid by--  7,a7 9 ! case
 ( a transaction describ$ 9 subsection  
7d77#a7-- 7i7 ! pur*as] if ! pur*as] is 
a ,unit$ ,/ates p]son1 &  7ii7 ! sell]  
if ! pur*as] is n a ,unit$ ,/ates p]son1
 &  7,b7 9 ! case ( a transaction       
describ$ 9 subsection 7d77#b7--  7i7 !  
payor if ! payor is a ,unit$ ,/ates     
p]son1 &  7ii7 ! payee if ! payor is n a
 ,unit$ ,/ates p]son4  7h7 ,c]ta9       
paym5ts treat$ z sep>ate transactions   
,except z o!rwise provid$ by !          
,secret>y1 any paym5t ) respect to a    
security describ$ 9 subp>agraph 7,d71   
7,e71 or 7,f7 ( subsection 7e77#a7 %all 
be treat$ z a sep>ate transaction =     
purposes ( ?is section1 includ+--  7#a7 
any net initial paym5t1 net f9al or     
t]m9at+ paym5t1 or net p]iodical paym5t 
) respect to a notional pr9cipal        
contract 7or simil> f9ancial in/rum5t71 
7#b7 any paym5t ) respect to any =w>d   
contract 7or simil> f9ancial in/rum5t71 
&  7#c7 any premium paid ) respect to   

any option 7or simil> f9ancial          
in/rum5t74  7i7 ,adm9i/ration ,!        
,secret>y %all c>ry out ?is section 9   
consultation ) ! ,securities & ,ex*ange 
,commission & ! ,commodity ,futures     
,trad+ ,commission4  7j7 ,guidance2     
regulations ,! ,secret>y %all-- 7#a7    
provide guidance reg>d+ su* in=mation   
report+ conc]n+ cov]$ transactions z !  
,secret>y deems appropriate1 includ+    
report+ by ! payor ( ! tax 9 cases :]e !
 payor is n ! pur*as]1 &  7#b7 prescribe
 su* regulations z are necess>y or      
appropriate to prev5t avoidance ( !     
purposes ( ?is section1 includ+ ! use ( 
non-,unit$ ,/ates p]sons 9 su*          
transactions4  7k7 ,:i/lebl[]s ,see     
section #gfbc = provisions relat+ to    
:i/lebl[]s4  4  7b7 ,p5alty = ,failure  
,to ,include ,cov]$ ,transaction        
,in=mation ,) ,return ,"p ,i ( sub*apt] 
,b ( *apt] #fh ( ! ,int]nal ,rev5ue     
,code ( #aihf is am5d$ by ins]t+ aft]   
section #fgjg;,a ! foll[+ new section3  
#fgjg;,b4 ,p5alty = failure to include  

cov]$ transaction in=mation ) return    
7a7 ,imposition ( p5alty ,any p]son :o  
fails to include on any return or       
/atem5t any in=mation ) respect to a    
cov]$ transaction :i* is requir$        
pursuant to section #ddge7;j77#a7 to be 
includ$ ) su* return or /atem5t %all pay
 a p5alty 9 ! am\nt det]m9$ "u          
subsection 7b74  7b7 ,am\nt ( p5alty    
,except z o!rwise provid$ 9 ?is         
subsection1 ! am\nt ( ! p5alty "u       
subsection 7a7 ) respect to any cov]$   
transaction %all be det]m9$ by !        
,secret>y4  7c7 ,cov]$ transaction ,=   
purposes ( ?is section1 ! t]m cov]$     
transaction has ! mean+ giv5 su* t]m by 
section #ddge7;d74  7d7 ,au?ority ,to   
,resc9d ,p5alty  7#a7 ,9 g5]al ,!       
,commission] ( ,int]nal ,rev5ue may     
resc9d all or any portion ( any p5alty  
impos$ by ?is section ) respect to any  
violation if resc9d+ ! p5alty w\ld      
promote compliance ) ! requirem5ts ( ?is
 title & effective tax adm9i/ration4    
7#b7 ,no judicial appeal ,not)/&+ any   

o!r provision ( law1 any det]m9ation "u 
?is subsection may n be review$ 9 any   
judicial proce$+4  7#c7 ,records ,if a  
p5alty is resc9d$ "u p>agraph 7#a71 !   
,commission] %all place 9 ! file 9 !    
,(fice ( ! ,commission] ! op9ion ( !    
,commission] ) respect to ! det]m9ation1
 includ+--  7,a7 a /atem5t ( ! facts &  
circum/ances relat+ to ! violation1     
7,b7 ! reasons = ! rescission1 &  7,c7 !
 am\nt ( ! p5alty resc9d$4  7e7         
,coord9ation ) o!r p5alties ,! p5alty   
impos$ by ?is section %all be 9 addition
 to any o!r p5alty impos$ by ?is title4 
4  7c7 ,cl]ical am5dm5ts  7#a7 ,! table 
( sections = "p ,i ( sub*apt] ,b ( *apt]
 #fh ( su* ,code is am5d$ by ins]t+ aft]
 ! item relat+ to section #fgjg;,a !    
foll[+ new item3  ,sec4 #fgjg;,b4       
,p5alty = failure to include cov]$      
transaction in=mation ) return4  4  7#b7
 ,! table ( sub*apt]s = *apt] #cf ( !   
,int]nal ,rev5ue ,code ( #aihf is am5d$ 
by ins]t+ aft] ! item relat+ to sub*apt]
 ,b ! foll[+ new item3  ,sub*apt] ,c4   

,tax on ,trad+ ,transactions  4  7d7    
,effective date ,! am5dm5ts made by ?is 
section %all apply to transactions      
occurr+ m ?an #ahj days aft] ! date ( ! 
enactm5t ( ?is ,act4  #i4 ,susp5sion    
bas$ on f9d+ ( inflation dur+ p]iod ( l[
 unemploym5t  7a7 ,det]m9ation on       
inflation ,:5ev] ! conditions specifi$ 9
 subsection 7k7 are satisfi$1 !         
,secret>y %all make a det]m9ation z to  
:e!r !re is good cause to believe t--   
7#a7 job creation fund$ "u ?is ,act     
con/itutes a significant contribut+     
factor to ! elevation ( ! rate (        
inflation above ! level set =? 9        
subsection 7k72 &  7#b7 a r$uction 9 !  
numb] ( p]sons employ$ 9 jobs fund$ "u  
?is ,act is necess>y to re/ore ! rate ( 
inflation to a level bel[ t set =? 9    
subsection 7k74  7b7 ,susp5sion ( hir+  
,if ! ,secret>y det]m9es t su* good     
cause exi/s1 ! ,secret>y %all issue an  
int]im ord] tempor>ily--  7#a7 susp5d+  
new hir+ ( p]sons describ$ 9 subsections
 7f77#d77;,a7 & 7f77#d77;,d7 ( section  

#e = jobs fund$ "u ?is ,act2 &  7#b7    
freez+ ! h\rly wage rates paid = jobs   
fund$ "u ?is ,act4  7c7 ,publication (  
susp5sion ord] ,at lea/ #g days be=e !  
effective date ( ! int]im ord] describ$ 
9 subsection 7b71 ! ,secret>y %all cause
 a copy ( ! ord] to be s5t by email to  
all applicants = & recipi5ts (          
,employm5t ,opportunity ,grants "u      
section #e & publi%$ 9 ! ,f$]al ,regi/] 
along ) a notice reque/+ public comm5t  
!reon4 ,! comm5t p]iod ann\nc$ 9 ?is    
notice %all la/ = #cj days f ! day !    
notice is publi%$4 ,! ,secret>y %all    
also ann\nce ! publication ( ! int]im   
ord] & invite public comm5t !reon 9 a   
press conf]5ce call$ expressly = t      
purpose & to :i* repres5tatives ( !     
national news m$ia h be5 invit$4  7d7   
,no review requir$ ,! ,(fice (          
,managem5t & ,budget %all n be requir$  
to review ! ord] describ$ 9 subsection  
7b7 & no impact /atem5t or analysis ( ! 
ord]'s effect %all be requir$ "u any o!r
 /atute4  7e7 ,revocation or            

confirmation ( ord] ,aft] ! #cj-;day    
comm5t p]iod describ$ 9 subsection 7c7  
has expir$ & ! ,secret>y has consid]$ ! 
comm5ts receiv$ relat+ to ! int]im ord] 
= a p]iod n to exce$ #ae additional     
days1 ! ,secret>y %all--  7#a7 ei!r     
revoke ! int]im ord] or confirm x ) or  
)\t *anges2  7#b7 cause all applicants =
 & recipi5ts ( ,employm5t ,opportunity  
,grants "u section #e to be notifi$ (   
su* confirmation or revocation 9 ! mann]
 describ$ 9 subsection 7c77#a72 &  7#c7 
publi% a notice 9 ! ,f$]al ,regi/]      
ann\nc+ su* confirmation or revocation  
along ) a /atem5t summ>iz+ ! views      
submitt$ by ! public dur+ ! comm5t p]iod
 & sett+ =? 9 reasonable detail !       
evid5ce1 reason+1 & argum5ts reli$ ^u & 
reject$ 9 decid+ :e!r to revoke ! int]im
 ord] or confirm x ) or )\t *anges4  7f7
 ,cont9uance ( au?ority ,if ! int]im    
ord] is confirm$1 ei!r ) or )\t *anges1 
! ,secret>y %all h ! au?ority to transf]
 funds f ! acc\nt describ$ 9 subsection 
7d77#a7 ( section #d to ! acc\nt        

describ$ 9 subsection 7d77#b7 ( section 
#d to ! ext5t necess>y to provide       
additional tra9+ opportunities = p]sons 
^: employm5t 9 jobs fund$ "u ?is ,act   
has be5 tempor>ily susp5d$4  7g7 ,waiv] 
,any p]son :o w\ld be eligible =        
employm5t 9 a job fund$ "u ?is ,act b = 
! ord] describ$ 9 subsections 7b7 & 7e7 
%all be af=d$ ! opportunity to apply = a
 waiv] ( ! ord]'s application to !m on !
 gr\nds t x w\ld cause !m or _! family  
to suff] undue h>d%ip4 ,! ,secret>y %all
 e/abli% proc$ures & rules insur+ t su* 
waiv] applications are consid]$ & decid$
 9 an exp$iti\s mann]4  7h7 ,no e>ly    
t]m9ation1 susp5sion 9 hir+1 or r$uction
 9 wages ,no p]son employ$ 9 a job fund$
 "u ?is ,act %all h _! employm5t        
prematurely t]m9at$ to a*ieve ! purposes
 ( ?is section4 ,hir+ = jobs fund$ "u   
?is ,act ( p]sons describ$ 9 subsections
 7f77#d77;,b7 & 7f77#d77;,c7 ( section  
#e may n be susp5d$ to a*ieve ! purposes
 ( ?is section4 ,! h\rly wages paid =   
jobs fund$ "u ?is ,act may n be r$uc$ to

 a*ieve ! purposes ( ?is section4  7i7  
,waiv] ( applicability ,! ,secret>y %all
 h ! au?ority to waive ! applicability (
 ! ord] describ$ 9 sections 7b7 & 7e7 to
 recipi5ts ( ,employm5t ,opportunity    
,grants to ! ext5t necess>y to prev5t   
lay(fs by ! grant recipi5t ( p]sons     
already employ$ by !m 9 jobs fund$ "u   
?is ,act4  7j7 ,duration ( ord] ,! ord] 
describ$ 9 subsections 7b7 & 7e7 %all   
rema9 9 effect only z long z !          
conditions specifi$ 9 subsection 7k7 are
 satisfi$4  7k7 ,inflation>y trigg] ,!  
,secret>y's au?ority to act "u ?is      
section %all arise only :5 bo? ( !      
foll[+ conditions are jo9tly satisfi$3  
7#a7 ,! seasonally adju/$ unemploym5t   
rate = ! civilian labor =ce ( ! ,unit$  
,/ates1 z report$ by ! ,unit$ ,/ates    
,bureau ( ,labor ,/ati/ics 9 its mo/    
rec5t ,employm5t ,situation ,news       
,release1 is less ?an #d4j p]c5t4  7#b7 
,! seasonally adju/$ consum] price index
 = all urban consum]s 9 ! ,unit$ ,/ates1
 z report$ by ! ,unit$ ,/ates ,bureau ( 

,labor ,/ati/ics 9 its mo/ rec5t        
,consum] ,price ,index ,news ,release1  
is m ?an #c p]c5t above its level dur+ !
 same p]iod "o ye> e>li]4