The “Humphrey-Hawkins 21st Century Full Employment and Training Act of 2024” aims to establish a National Full Employment Trust Fund, administer various employment-related programs, and provide grants to support employment opportunities. It outlines the sources of funding, program administration, and conditions for grants while focusing on creating jobs and training opportunities to ensure full employment.

Congress identifies the need for full employment as a national goal, highlighting obligations under U.S. law and the United Nations Charter. It outlines how unemployment causes economic and social harm, particularly to disadvantaged groups, and emphasizes the need for a direct job creation approach like that seen during the New Deal to ensure that everyone who wants a job can get one, while balancing inflation concerns.

This section provides definitions for terms used in the Act, such as ACA (the Affordable Care Act), disadvantaged individuals or groups, definitions related to employment and training programs funded by the Act, and various related entities and concepts like small businesses, state health programs, and different governmental units.

A new account called the National Full Employment Trust Fund has been established within the United States Treasury.

The section outlines the sources of funding for a Trust Fund, stating that it will be funded by certain taxes as defined by a specific section of the Internal Revenue Code, amounts from the Federal Unemployment Trust Fund, and estimated taxes paid by Program employees on their earnings.

The section outlines that if there is not enough money in the Trust Fund to keep the national unemployment rate from rising too much, the Federal Reserve will lend the necessary funds to help. These loans must be repaid over ten years with interest, but the Federal Reserve can decide to cancel the debt if it finds that doing so won't negatively impact the economy.

The Trust Fund's corpus can only be used for specific purposes, including funding employment grants, necessary administrative activities and programs under the WIOA, and covering administrative costs for the Secretary to manage programs authorized by the Act.

The section requires the Secretary to create a suitable administrative system within the Department of Labor to manage the Program.

The Secretary is required to set up a clear and unbiased process to evaluate, approve, and monitor Employment Opportunity Grants, including both current and future projects. These projects can be funded immediately for preparation, and there is also a focus on checking the performance and providing help if needed during and after the projects.

The Secretary will create an Office of Technical Assistance to help grant recipients and those applying for grants. This office will provide advice on best practices for designing job creation projects, writing grant proposals, meeting program requirements, and achieving the program’s goals.

The section establishes the Office of Educational Support, which is responsible for helping Program employees who haven't finished high school to complete their education and advises them on further education and training opportunities.

The Secretary is required to create and manage an Office of Assisted Placement, which will be responsible for setting up and running Assisted Placement Offices in all one-stop centers. These offices will help eligible individuals find employment opportunities.

The bill mandates the creation and management of an Office of Dispute Resolution by the Secretary to handle disputes, as outlined in section 313. It also calls for the establishment of a whistleblower hotline for reporting alleged violations and suggests using the South African Commission for Conciliation, Mediation and Arbitration (CCMA) as a model to ensure the dispute resolution process is fair, cost-free, and easy for participants.

The section establishes an Office of Statistics and Research, which will collect and analyze data to help improve and oversee a program aimed at addressing unemployment. This office will also conduct research, share best practices, maintain records of funded projects, estimate financial impacts, and perform other supportive tasks for the program.

The Secretary is required to organize a national employment conference every year, starting within one year after the law is enacted. The conference will focus on discussing research about the program's impact on unemployment issues, sharing the best ways to tackle these issues, and addressing any challenges in implementing the law.

The Secretary is required to create and manage a website that gives the public information about the Program and keeps a record of its activities.

The section requires that whenever possible, the Secretary should hire people who are eligible for jobs in the Program's administrative offices.

The section discusses changes to the Workforce Innovation and Opportunity Act (WIOA), allowing the Secretary of Labor to adjust programs to support the Act's goals. It includes an expansion of workforce development boards to require at least 25% of members to be chief executive officers of minority-serving, community-based organizations.

The section authorizes the Secretary to give grants to eligible entities to create jobs and training programs. These efforts aim to help people find employment and address various community needs, as long as there are funds available in the Trust Fund.

Entities eligible to receive grants include federal departments and agencies with approval, states, Indian Tribes, local government units, urban counties, their respective agencies, independent public agencies created by any government level, and not-for-profit organizations that are tax-exempt under specific sections of the Internal Revenue Code.

Grants awarded under this section aim to support various public needs by funding projects such as improving affordable housing, enhancing community services including education and emergency preparedness, expanding job training and employment opportunities, and promoting environmental sustainability. These initiatives also encompass revitalizing public spaces and properties, supporting cultural and recreational programs, and providing aid in disaster situations.

To receive a grant under this program, applicants must consult with local organizations, comply with nondiscrimination policies, allocate funds primarily for wages and employee benefits, use any revenue to further project goals, return unused grant money, focus on employing disadvantaged individuals, provide adequate job training, operate in an ecologically sustainable way, and cooperate with other agencies for employment and dispute resolutions.

This section outlines the employment conditions for jobs funded by the program, including requirements for continued employment, work hours, compensation standards, and assistance with social benefits. It also restricts job placements to prevent negative impacts on current employees, union agreements, and maintains promotional opportunities, ensuring these roles qualify as public sector positions.

Individuals looking to work in the Program must be certified by a local one-stop center and meet certain conditions, such as having recently received or sought unemployment benefits or being employed part-time while seeking full-time work. Program employees are automatically registered for job placement and risk temporary ineligibility if they decline suitable job offers without valid reasons, but can rejoin the Program if certain conditions are met, including involuntary termination not due to misconduct.

The section explains what "compensation" means under this law, including things like wages and benefits. It also details how certain health benefits should be provided to employees in a special Program, noting that these benefits won't result in tax penalties and won't affect the Program's budget. Additionally, some changes are made to the tax code to support these provisions.

Individuals who qualify for assisted placement services under this section include those struggling to find employment within 30 days of certification, those facing special circumstances, or those needing additional training for better-paying jobs. The Assisted Placement Office helps these individuals by assessing qualifications, identifying job and training opportunities, and providing counseling and support, including potential income supplements and access to affordable services.

The section outlines that Employment Opportunity Grants will prioritize projects that either help individuals access work by providing essential services like childcare and housing, or focus on areas with high economic need, determined by factors such as unemployment, poverty rates, and poor health indicators.

The Secretary has the power to set priorities for carrying out the Act, recognizing it will take time to build the necessary skills and capacity. During the initial phase, jobs must be created in proportion to each community's employment needs, especially targeting those who have the fewest other job options.

The Secretary is allowed to use money from the Trust Fund to start and manage job creation projects during the initial startup period. After this period, the Secretary must continue to ensure there are enough jobs available across the country, which may include overseeing job creation projects as needed to meet the goals of the Act.

Grant recipients must send a report to the Secretary within 90 days after each fiscal year ends detailing how they used their grant money. The Secretary is also required to report to Congress about the Act's progress and impact at least every six months.

The section explains the different types of disputes related to a program that are handled by the Office of Dispute Resolution, including those about program funds, employment, and training issues. It outlines the procedures for resolving these disputes, considers cases involving collective bargaining agreements, and provides mechanisms for whistleblowers to report alleged violations.

The bill section introduces a new tax on securities transactions, specifying a range of applicable tax rates based on the type of security involved. It outlines the responsibilities for tax payment, exceptions to the tax, and penalties for failing to provide required transaction information, and mandates guidance and regulations to prevent tax avoidance.

The text describes a tax imposed on trading transactions involving the ownership transfer of securities, including stocks, bonds, and derivatives, with specific percentages based on the type of security. It outlines how the tax is calculated, who is responsible for paying it, exceptions to the tax, and administrative guidelines, ensuring clarity and compliance within securities trading.

Any person who does not include required information about a covered transaction on a tax return will face a penalty determined by the Secretary. The IRS Commissioner can cancel the penalty if it helps with tax compliance, but this decision cannot be challenged in court. The penalty adds on top of any other penalties listed in this title.