Earning and Living Opportunities Act - Amends the Housing and Urban Development Act of 1968 to set forth as a condition of federal housing and community development assistance that: (1) a public or Indian housing agency or contractor shall require that at least 20% of employee hours be performed by low- or very low-income persons; and (2) a recipient of assistance for housing rehabilitation, construction, or other public construction projects and their contractors shall require that at least 20% of new employee hours be performed by low- or very low-income persons.
Directs the Secretary to require a public or Indian housing agency and other recipients of federal housing and community development assistance to: (1) establish a section 3 committee of interested parties to oversee all aspects of compliance with section 3 of such Act; (2) advertise training and employment opportunities generated by development assistance; and (3) maintain a registry of eligible low- and very low-income persons who express interest in those opportunities.
(Section 3 declares the policy of the Congress to ensure that the employment and other economic opportunities generated by federal financial assistance for housing and community development programs shall, to the greatest extent feasible, be directed toward low- and very low-income persons, particularly those who are recipients of government assistance for housing.)
Prescribes requirements for: (1) contractor compliance and job training; and (2) agency recruitment and referral.
Establishes fines for noncompliance.