A bill to reduce unemployment by providing that unemployment insurance funds may be used pursuant to State laws establishing programs for payments to employers who hire the unemployed.

[AI summary unavailable — showing source text] Amends the Internal Revenue Code and the Social Security Act to permit federally funded State unemployment insurance programs to compensate employers for employing individuals who would otherwise be unemployed. Limits such authority to State-approved plans which: (1) compensate the employer with an amount equal to the payment the otherwise unemployed person would be entitled to; (2) require the employer to pay the otherwise unemployed person wages comparable to those paid other persons doing similar work; (3) limit coverage to employment positions additional to those maintained by the employer during the State's base period; and (4) limit the coverage of any single position to a total time period not exceeding one year. Requires State laws establishing such plans to provide that their administration be undertaken by the State unemployment agency or by a management organization with specified responsibilities. Prescribes the minimum information to be required by State plans from employers seeking qualification thereunder. Forbids the State to consider the individual's employment and wages which are provided pursuant to the State plan when determining whether he is an otherwise unemp…