H.R. 2920House112th Congress (2011-2013)In Committee

Detroit Jobs Trust Fund Act

Introduced September 14, 2011

Legislative Activity

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2 earlier actions
HouseCommittee Latest Action

Referred to the Subcommittee on Technology, Information Policy, Intergovernmental Relations and Procurement Reform .

October 3, 2011

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HouseIntro Referral

Introduced in House

September 14, 2011

HouseIntro Referral

Referred to the Committee on Ways and Means, and in addition to the Committee on Oversight and Government Reform, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

September 14, 2011

HouseCommittee

Referred to the Subcommittee on Technology, Information Policy, Intergovernmental Relations and Procurement Reform .

October 3, 2011

Floor Debate

9 members

What members said about H.R. 2920 on the floor

1 Republican8 Democrats
Donna M. Christensen
Rep. Donna M. ChristensenD-VI · Oct 3, 2011

Thank you, Mr. Speaker. The Congressional Black Caucus is pleased, and we thank the Democratic leadership for allowing us, once again, to come to the floor for the Democratic hour. General Leave…

Maxine Waters
Rep. Maxine WatersD-CA-35 · Oct 3, 2011

Thank you very much, Congresswoman Donna Christensen. I am very pleased that you took this time out this evening to give us an opportunity to continue to focus on our top priority in the…

Barbara Lee
Rep. Barbara LeeD-CA-9 · Oct 3, 2011

Let me thank my colleague, Congresswoman Christensen, for those kind remarks and also for leading this Special Order, once again, in order to sound the alarm about the jobs crisis in our country.…

Hansen Clarke
Rep. Hansen ClarkeD-MI-13 · Oct 3, 2011

You're very welcome, Representative Christensen. What I wanted to do was, on behalf of all metro Detroiters, I wanted to thank the Congressional Black Caucus and, in particular, our chairperson,…

Marcia L. Fudge
Rep. Marcia L. FudgeD-OH-11 · Oct 3, 2011

Mr. Speaker, I would like to thank Representative Christensen for anchoring today's timely CBC Special Order on unemployment in the African American community and on job creation. It is no secret…

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Sheila Jackson Lee
Rep. Sheila Jackson LeeD-TX-18 · Oct 3, 2011

Mr. Speaker, for the past 40 years the Congressional Black Caucus, has earned the reputation as the conscience of the Congress by providing a voice for the voiceless and fighting for the forgotten.…

Yvette D. Clarke
Rep. Yvette D. ClarkeD-NY-11 · Oct 3, 2011

Mr. Speaker, the American people made it abundantly clear what they expected from the 112th Congress. They expect us to stop fighting each other and to do the right thing for the country. However,…

Candice S. Miller
Rep. Candice S. MillerR-MI-10 · Mar 19, 2012

Mr. Speaker, I ask unanimous consent that my name be removed as a cosponsor on H.R. 2920.

David N. Cicilline
Rep. David N. CicillineD-RI-1 · Oct 6, 2011

Mr. Speaker, I ask unanimous consent to remove my name as a cosponsor of H.R. 2920.

Bill Text

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Introduced in HouseIssued September 14, 2011

I

112th CONGRESS

1st Session

H. R. 2920

IN THE HOUSE OF REPRESENTATIVES

September 14, 2011

Mr. Clarke of Michigan introduced the following bill; which was referred to the Committee on Ways and Means, and in addition to the Committee on Oversight and Government Reform, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned

A BILL

To establish the Detroit Jobs Trust Fund.

1.

Short title

This Act may be cited as the Detroit Jobs Trust Fund Act.

2.

Detroit Jobs Trust Fund

(a)

In general

Subchapter A of chapter 98 of the Internal Revenue Code of 1986 is amended by adding at the end the following new section:

9512.

Detroit Jobs Trust Fund

(a)

Creation of trust fund

There is established in the Treasury of the United States a trust fund to be known as the Detroit Jobs Trust Fund, consisting of such amounts as may be appropriated or credited to such fund as provided in this section or section 9602(b).

(b)

Transfers to trust fund

There are hereby appropriated to the Detroit Jobs Trust Fund amounts equivalent to receipts in the Treasury of taxes imposed under this title (with respect to periods after the date of the enactment of this section) which are (as determined by the Secretary) attributable to Detroit, Michigan.

(c)

Expenditures

(1)

In general

Except as otherwise provided in this subsection, amounts in the Detroit Jobs Development Fund shall (without need of any further appropriation) be distributed annually by the Secretary to the city of Detroit, Michigan to carryout the purposes described in paragraph (2).

(2)

Use of expenditures

Amounts distributed to the city of Detroit, Michigan under this section shall be used for the following purposes and in the following order of priority:

(A)

To the extent of the first $378,256,650 distributed with respect the annual period, for any purpose determined by the city government of Detroit, Michigan.

(B)

Second, for payment of principal and interest on any obligation issued by the city of Detroit, Michigan (to the extent of such obligations).

(C)

Third, for payment of principal and interest on obligations to which section 103 applies and the proceeds of which were used for the public schools of the city of Detroit, Michigan (to the extent of such obligations).

(D)

Fourth, for jobs development, public safety, education, business infrastructure, or public infrastructure (to the extent consistent with the plan described in paragraph (4)).

(3)

Restriction on distributions

No distribution shall be made by the Secretary under paragraph (1) unless—

(A)

the city of Detroit, Michigan, does not impose an income tax,

(B)

such city has reduced the aggregate property taxes imposed by an amount not less than the reduction in the payment obligations of such city by reason of the payments described in paragraph (2), and

(C)

all prior distributions made to the city under paragraph (2) were used by the city in a manner consistent with the requirements of paragraph (2).

(4)

5-year development plan

A plan is described in this paragraph if such plan—

(A)

is a 5-year plan describing development goals for Detroit, Michigan, and detailing how distributions for purposes described in paragraph (2)(D) will be spent,

(B)

has been approved by simple majority vote of the City Council of Detroit, Michigan (after consultation with the Detroit Board of Education), and

(C)

has been submitted to, and approved by, the Secretary of Housing and Urban Development.

No distribution shall be made under paragraph (1) for a purpose described in paragraph (2)(D) unless a plan described in this paragraph is in effect and all prior such distributions for such purposes were used in accordance with such plan.
(5)

Amounts made available not to reduce other funding

Amounts distributed to the city of Detroit, Michigan under this section shall supplement, and not supplant, any other funding (including any Federal funding) for such city.

(d)

Termination

No amount shall be distributed from, or appropriated to, the Detroit Jobs Trust Fund after the 5-year period beginning on the date of the enactment of this Act. Any amounts remaining in such Trust Fund at the end of such period shall be transferred to the general fund of the Treasury.

.

(b)

The table of sections for subchapter A of chapter 98 of such Code is amended by adding at the end the following new item:

.