CA AB1320

Creates the Lifelong Learning Accounts Initiative Program beginning January 1, 2012, administered by the California Employment Development Department to provide grants to employers and employees for establishing individual learning accounts.

Employees working at least 20 hours per week are eligible for matching grants up to 50 percent of the first $500 contributed (maximum $250), with employers able to contribute matching amounts up to an additional $250, for a maximum total of $500 per employee per tax year.

Establishes a Lifelong Learning Program Fund in the State Treasury to receive contributions from individuals, foundations, businesses, and the federal government to support the grant program.

Requires the department to make education and career advising services available to employees, provide technical assistance to employers, and submit an effectiveness report to legislative budget and policy committees by the second year of the 2011-12 Regular Session.

Program implementation is contingent on the Director of Finance determining in writing that sufficient funds are available from sources other than the General Fund.