Workforce Investment Disclosure Act of 2021

1/11/2023, 1:49 PM

Summary of Bill HR 3471

Bill 117 HR 3471, also known as the Workforce Investment Disclosure Act of 2021, aims to increase transparency and accountability in workforce development programs. The bill requires the Department of Labor to publish information on the outcomes of these programs, such as job placement rates, earnings, and completion rates.

The bill also requires states to report on the effectiveness of their workforce development programs, including information on the types of training provided and the demographics of participants. This information will help policymakers and the public better understand which programs are successful and where improvements can be made.

Additionally, the bill includes provisions to ensure that workforce development programs are accessible to individuals with disabilities and other underserved populations. It also encourages collaboration between workforce development programs and employers to ensure that training programs are aligned with the needs of the labor market. Overall, the Workforce Investment Disclosure Act of 2021 aims to improve the effectiveness of workforce development programs and ensure that taxpayer dollars are being used efficiently to help individuals gain the skills they need to succeed in the workforce.

Congressional Summary of HR 3471

Workforce Investment Disclosure Act of 2021

This bill requires publicly traded companies to disclose information annually regarding workforce management policies, practices, and performance. This includes

  • demographic information;
  • data on temporary and contract workers;
  • employee turnover rate;
  • employee skills and capabilities;
  • workforce health, safety, and well-being, including findings of harassment or discrimination; and
  • employee compensation, benefits, and incentives.

The Securities and Exchange Commission may exempt emerging growth companies from certain disclosures.

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Current Status of Bill HR 3471

Bill HR 3471 is currently in the status of Bill Introduced since May 25, 2021. Bill HR 3471 was introduced during Congress 117 and was introduced to the House on May 25, 2021.  Bill HR 3471's most recent activity was Referred to the House Committee on Financial Services. as of May 25, 2021

Bipartisan Support of Bill HR 3471

Total Number of Sponsors
1
Democrat Sponsors
1
Republican Sponsors
0
Unaffiliated Sponsors
0
Total Number of Cosponsors
0
Democrat Cosponsors
0
Republican Cosponsors
0
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill HR 3471

Primary Policy Focus

Finance and Financial Sector

Potential Impact Areas

Administrative law and regulatory proceduresCongressional oversightContracts and agencyCorporate finance and managementEmployee benefits and pensionsEmployee hiringEmployment and training programsEmployment discrimination and employee rightsFinancial services and investmentsFraud offenses and financial crimesGovernment information and archivesGovernment studies and investigationsHuman rightsLabor marketLabor standardsLabor-management relationsMinority employmentSecuritiesSecurities and Exchange Commission (SEC)Self-employedTemporary and part-time employmentUnemploymentWages and earningsWomen's employmentWorker safety and health

Alternate Title(s) of Bill HR 3471

Workforce Investment Disclosure Act of 2021To amend the Securities Exchange Act of 1934 to require issuers to disclose to the Securities and Exchange Commission information regarding workforce management policies, practices, and performance, and for other purposes.Workforce Investment Disclosure Act of 2021
Start holding our government accountable!

Comments

Sponsors and Cosponsors of HR 3471

Cynthia Axne
Cynthia Axne
Iowa(Democrat)

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