The bill establishes the "Federal Jobs Guarantee Development Act of 2026," directing the Secretary of Labor to create a competitive grant pilot program. This program aims to fund job guarantee programs in eligible entities—political subdivisions or Tribal entities with unemployment rates at least 150 percent of the national average—to ensure employment for their residents. Grants will support these programs for a 3-year period. Jobs provided under these programs must be available to all residents aged 18 or older in the service area. They must offer a wage not less than the greater of several specified rates, including prevailing wages, and provide health insurance comparable to Federal employees. Additionally, participants are entitled to paid family leave and paid sick time. Grant funds can also be used for supportive services like transportation, childcare, and housing, as well as access to workplace learning advisors, adult education, and financial literacy. Eligible entities must submit detailed applications describing the served population, job types, and how they will leverage existing funding. The Secretary will select up to 15 diverse entities for grants. A "Job Guarantee Program Trust Fund" will finance these grants, which cannot be used to displace existing employees. The bill mandates up to 8 weeks of paid training for participants and encourages Federal agencies to offer jobs within the pilot sites. Annual audits will ensure proper use of funds, and a comprehensive evaluation will assess the program's impact on employment, poverty, health, and the environment. The Work Opportunity Tax Credit is also expanded to include qualified participants.