Job Opportunity and Business Stimulation Act

[AI summary unavailable — showing source text] Job Opportunity and Business Stimulation Act - Establishes a program under which the Secretary of Labor shall make payments to States and U.S. territories for job opportunities and business stimulation. Authorizes appropriations for FY 1983 and 1984 for such payments. Sets forth formulas for allocation of such appropriations to specified territories of the U.S. on the basis of population and to States on the basis of population and of relative economic indicators derived from income growth factors. Requires that the Secretary's payment to a State be made available to the Governor for specified authorized uses that the Governor determines will contribute most to the creation of jobs for the unemployed. Directs the Governor to ensure that such expenditures are distributed geographically in a specified manner. Requires that funds be distributed to county areas based on unemployment factors and revenue sharing amounts. Directs the Governor, in determining fund allocation and uses, to: (1) consult with the State job training coordination council established pursuant to the Job Training Partnership Act; (2) provide for public hearings; and (3) publish an expenditure plan. Permits funds m…