Job Preservation for Parents in Poverty Act

Job Preservation for Parents in Poverty Act - Amends part A (Temporary Assistance for Needy Families) (TANF) of title IV of the Social Security Act to revise and extend the Emergency Contingency Fund for State Temporary Assistance for Needy Families Programs (Emergency Contingency Fund) at current levels through the first quarter of FY2011.

Places a certain amount of appropriations in reserve for use in FY2012.

Prohibits the Secretary of Health and Human Services (HHS) from making a grant from the Emergency Contingency Fund for a fiscal year after FY2012.

Limits expenditures for subsidized employment to employment for: (1) a member of a needy family (without regard to whether the family is receiving assistance under the state TANF program); or (2) a member of a needy family who has exhausted (or, within 60 days, will exhaust) all rights to receive unemployment compensation under federal and state law.

Reduces the funding level of the (regular) Contingency Fund for State Welfare Programs for FY2012 and FY2013 (to offset appropriations for this Act).