Private Sector Opportunities Act

Private Sector Opportunities Act - Amends title VII (Private Sector Opportunities for the Economically Disadvantaged) of the Comprehensive Employment and Training Act (CETA) to revise provisions for private sector programs.

Makes eligible for participation in such programs unemployed or underemployed individuals who reside in designated enterprise zones or who are eligible under specified CETA programs for the economically disadvantaged and for youth.

Retains the requirement that 95 percent of title VII funds be allocated among prime sponsors, but deletes a requirement that the remainder of such funds be used by the Secretary of Labor to assist prime sponsors jointly establishing a single private industrial council and specified Native American entities in carrying out such programs.

Permits prime sponsors to use such program funds for coordination with other economic development activities.

Requires that description of proposed private sector initiatives include provisions for training and placement activities in business concerns, especially in small businesses, and for involving, where feasible, community-based organizations.

Requires, as a condition for receipt of financial assistance under title VII, that, in jurisdictions where enterprise zones have been established, at least some proposed private sector activities will serve to provide employment training for enterprise zone residents or employees.

Includes local economic development councils among those groups to which proposed plans for activities must be submitted for comment.

Sets forth provisions for the designation of enterprise zones for purposes of the private sector program. Gives the Secretary of Housing and Urban Development (HUD) specified responsibilities for enterprise zone designation, while the Secretary of Labor retains overall responsibility for the title VII CETA program.

Provides that one or more local governments may designate an area as an enterprise zone if: (1) the government making the designation has the authority to make specified local commitments and assures the Secretary of HUD that such commitments will be made; and (2) the Secretary of HUD approves such designation, after consultation with specified other Secretaries and the Administrator of the Small Business Administration. Prohibits approval of designations if the chief executive officer of a State or possession files an objection within a specified period. Permits State governments to make designations on behalf of, and with the consent of, a local government. Provides that enterprise zone designations shall remain in effect until December 31, 2001, unless the Secretary of HUD revokes a designation because the designating government is not substantially complying with the local commitments.

Requires that enterprise zone areas have populations of at least: (1) 4,000 within a standard metropolitan statistical area of 50,000 or more; or (2) 2,500 in any other case (sets no minimum population requirement for Indian reservations). Requires that, to be eligible for designation as an enterprise zone, an area be: (1) one of pervasive poverty, unemployment, and general distress; and (2) located wholly within an area meeting specified Federal assistance requirements under the Housing and Community Development Act of 1974. Provides that an area meets enterprise zone eligibility requirements if: (1) its average rate of unemployment for the most recent 18-month period for which data are available was at least one and one-half times the national rate; (2) it was a low-income poverty area according to the most recent census; (3) at least 70 percent of its residents have incomes below 80 percent of the median income of the residents of the designating government; or (4) its population decreased by ten percent or more between 1970 and 1980 and there is chronic abandonment or demolition or substantial tax arrearages of commercial or residential structures in the area.

Requires the designating government to make a local commitment to follow a course of action designed to reduce the various burdens borne by employers or employees in the enterprise zone area. Permits such course of action to include: (1) tax rate or fee reduction; (2) increased efficiency of local services; (3) simplification or streamling of government requirements; or (4) private sector commitment to provide jobs, training, and other assistance to area employees and residents.

Ends the period for enterprise zone designations on December 31, 1996. Directs the Secretary of HUD to designate at least ten but not more than 25 areas as enterprise zones during each of the first three calendar years beginning after enactment of this Act. Requires that priority of designation be given to specified types of areas.

Adds local economic development councils to those groups from which prime sponsors must appoint members of private industry councils.

Directs that, in appointing such members from educational agencies and institutions, particular consideration should be given to persons with expertise in onsite, industry specific vocational education.

Revises the list of activities that private-sector opportunities programs may include. Adds to such list the development of: (1) a small business intern program; (2) relationships between employment and training programs, educational institutions, community-based organizations, and the private sector; and (3) onsite, industry specific training programs, supportive of industrial and economic development in cooperation with State vocational education boards, if CETA title VII funds are supplemented, where feasible, by funds from other sources. Adds to such list the provision of on-the-job training subsidies on a declining ratio to wages over the period of training.

Provides that program activities may include upgrading and retraining in accordance with CETA title II occupational upgrading and retraining programs. Limits to 15 percent that portion of title VII funds that may be used for such upgrading and retraining.

Amends CETA title I, administrative provisions, to authorize the appropriation of necessary sums for FY 1983 through FY 1985 to carry out the title VII private sector opportunities program.