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HR 2920
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Detroit Jobs Trust Fund Act

To establish the Detroit Jobs Trust Fund.

Introduced Sep 14, 2011

Latest action (Oct 3, 2011) Referred to the Subcommittee on Technology, Information Policy, Intergovernmental Relations and Procurement Reform .

Referred to
Oversight and Government Reform Committee Ways and Means Committee Technology, Information Policy, Intergovernmental Relations and Procurement Reform Subcommittee
Policy area
Taxation
Issues
Economy & Taxes

Summary

This bill establishes a Detroit Jobs Trust Fund that would receive federal tax revenue attributable to Detroit, Michigan. The Treasury would distribute these funds annually to the City of Detroit, with priority given first to general city purposes (up to $378 million annually), then to debt service on existing city obligations and public school bonds, and finally to jobs development, public safety, education, and infrastructure projects. Distributions are subject to conditions requiring Detroit not to impose an income tax, to reduce property taxes, and to submit a 5-year development plan approved by HUD for any infrastructure spending. The funds are intended to supplement, not replace, other federal or local funding, and the program terminates after 5 years with any remaining amounts returned to the general Treasury.

AI-generated plain-language summary of the bill text — neutral, and may be imperfect. See the full text below for the exact wording.

Sponsor (1)
32 cosponsors

Actions (3)
  1. Oct 3, 2011 Referred to the Subcommittee on Technology, Information Policy, Intergovernmental Relations and Procurement Reform . · house
  2. Sep 14, 2011 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. · house
  3. Sep 14, 2011 Introduced in House

Similar bills (6)

Bills with similar text or summary — includes reintroductions across Congresses. Ranked by semantic similarity of the bill text (computed locally); a neutral discovery aid, not a claim the bills are duplicates.

  • HR 5153 — TRUST Act · Introduced Sep 4, 2025 · Cong. 119 65%
  • HR 3967 — CREATE JOBS Act · Introduced Jun 12, 2025 · Cong. 119 62%
  • HR 3929 — GAMBLER Act · Introduced Jun 11, 2025 · Cong. 119 62%
  • HR 5099 — SAFES Act · Introduced Sep 2, 2025 · Cong. 119 61%
  • HR 5278 — Jobs and Investment Act of 1994 · Introduced Nov 21, 1994 · Cong. 103 60%
  • HR 4315 — National Infrastructure Investment Corporation Act of 2025 · Introduced Jul 11, 2025 · Cong. 119 60%

Text versions (1)
  • Introduced in House · Sep 14, 2011

Only one text version is on file, so there’s no earlier version to compare against yet.

Full text

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.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

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

SEC. 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:

“SEC. 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:

“Sec. 9512. Detroit Jobs Trust Fund.”. <all>

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