Offender Employment and Training Act

Offender Employment and Training Act - Title I: Federal Penal or Correctional Institutions - Authorizes the Federal Prison Industries to make grants and loans to applicants for developing projects for the training or employing of offenders. Specifies the interest rate on such loans.

Authorizes the Federal Prison Industries to acquire facilities which may be utilized in connection with any such project, and to make such facilities available, by lease or other agreement, to any qualified applicant.

Provides that no loan or grant shall be made unless (1) any offender employed in connection with any project shall receive wages at a rate not less that that paid for work of a similar nature; (2) any product or service resulting from such project may be sold or otherwise disposed of in the same manner as other products; (3) offenders involved in such project are likely to find employment following release; (4) offenders shall not be deprived of the right to participate in benefits available to other individuals on the basis of their employment; and (5) the wages of any offender shall be subject to all applicable Federal and State laws and regulations.

Establishes in the Treasury of the United States the Federal Employment and Training Fund. Provides that, in addition to the moneys covered into the fund pursuant to this Act, there are authorized to be appropriated annually to the fund out of any moneys in the Treasury not otherwise appropriated such amounts as are necessary to make the income of the fund not less than $10,000,000 for fiscal 1974, and for each fiscal year thereafter.

Title II: State Penal or Correctional Institutions - Authorizes the Attorney General of the United States to enter into an agreement with any State to financially assist such State in carrying out a program for the training or employing of offenders in State penal or correctional institutions. Provides that such assistance may be provided by grant or otherwise, shall be provided in such amount and in such manner as the Attorney General may by regulations prescribe, and shall be subject to specified requirements.

Provides that for fiscal year 1974, and for each of the next following four fiscal years, there is authorized to be appropriated the sum of $10,000,000 to enable the Attorney General to carry out the provisions of this Act.