Omnibus Job Training and Retraining Act of 1986

[AI summary unavailable — showing source text] Omnibus Job Training and Retraining Act of 1986 - Title I: Unemployment Compensation and Related Matters - Worker Adjustment and Retraining Act - Subtitle A: Improved Program of Extended Unemployment Compensation - Amends the Federal-State Extended Unemployment Compensation Act of 1970 to revise formulas for determining the amount and number of weeks of extended unemployment compensation for which an individual is eligible. Revises provisions duration periods for purposes of such formulas. Revises formulas for payments to States. Amends the Social Security Act to authorize appropriations for additional transfers to the extended unemployment compensation account. Directs the Secretary of Labor, within 18 months of the date of enactment of this Act, to implement a program of job training and extended benefits. Subtitle B: Worker Adjustment and Retraining - Establishes the Worker Retraining and Adjustment Fund in the Treasury. Provides that amounts in such Fund shall be available, as provided in appropriation Acts, to carry out title III (Employment and Training Assistance for Dislocated Workers) of the Job Training Partnership Act. Provides that revenues for such Fund shall be throug…