This bill imposes a new excise tax on companies that develop or provide access to advanced artificial intelligence models, with tax rates ranging from 2 to 5 percent depending on the national unemployment rate. The tax applies to the fair market value of AI tokens processed or revenue from AI services, though it excludes research and development uses by government agencies, universities, and nonprofits. The legislation takes effect one year after enactment. All revenue from this AI tax goes into a dedicated trust fund that finances a new Work Protection Administration within the Department of Labor, which administers a competitive grant program for eligible entities like states, local governments, schools, and nonprofits to create jobs in high-need areas such as child care, education, healthcare, infrastructure, and environmental conservation. Grant recipients must pay workers at least the prevailing wage, provide health insurance comparable to federal employee benefits, offer 12 weeks of paid family and medical leave, and respect workers' collective bargaining rights. The bill also authorizes $20 million annually through 2031 for the Bureau of Labor Statistics to study AI's broader labor market impacts beyond job displacement.