Sec. 3. Establishment Of Full Employment National Trust Fund
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The Secretary shall establish a Full Employment National Trust Fund (in this Act referred to as the Trust Fund ) for the purposes of— providing funding for the Employment Opportunity Grants established in section 4; and issuing funds to the Secretary to fund the Workforce Investment Act of 1998 ( 29 U.S.C. 2801 et seq. ). Subject to the availability of appropriations for this purpose, the Secretary 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.
The Trust Fund shall consist of 2 separate accounts as follows: One account shall consist of 67 percent of the funds made available for deposit under subsection
(b)and shall be for the Employment Opportunity Grants established in section 4. The other account shall consist of 33 percent 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. ). 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. The Secretary shall promulgate 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.
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- 20 USC 2801
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