; or (ii) an enterprise for which the majority of the voting stock is owned by workers employed by such enterprise. (B) Voting stock For purposes of subparagraph (A)(ii), the share of the voting stock owned by workers shall include stock held by an employee stock ownership plan, as defined in section 4975(e)(7) of such Code. 4. Jobs programs for long-term unemployed workers (a) In general (1) Establishment The Secretary shall establish and administer a jobs initiative for eligible workers, consisting of jobs programs carried out through local boards. (2) Partnerships A local board may enter into a partnership with one or more community-based organizations to submit an application and carry out a jobs program. (3) Agreements In administering the initiative, the Secretary shall enter into 4-year agreements with local boards, under which the Secretary shall provide payments to local boards. Such an agreement shall specify which functions described in this Act will be carried out by the local board, by the community-based organization, and by the partnership. (4) Payments The Secretary shall make such a payment in an amount that equals the eligible costs incurred by the local board— (A) to provide wages and compensation for program positions for eligible workers under this section, minus any employer share of the eligible costs of providing the wages and compensation; (B) to provide supportive services and training services to eligible workers under this section; and (C) to administer the jobs program under this section. (b) Local board application To be eligible to enter into an agreement under subsection (a), a local board shall submit an application to the Secretary at such time, in such manner, and containing a 4-year plan that includes such information as the Secretary may require, including— (1) the number of eligible workers that the local board proposes to serve under the jobs program involved and the estimated cost of serving that number of workers