SB21-218 Summary

• Amends the Employment and Training Technology Fund revenue allocation by changing the annual cap from ten million dollars to seven million dollars effective July 1, 2023.

• Establishes that if cumulative revenue reaches $31 million (minus unemployment compensation fund transfers) by June 30, 2023, no additional money shall be credited to the fund and excess revenue goes to the unemployment compensation fund instead.

• Transfers any unencumbered fund balance as of June 30, 2020, amounts received between July 1, 2020 and the bill's effective date, and balances as of the effective date to the unemployment compensation fund.

• Repeals the temporary revenue transfer provision (subparagraph B) effective December 31, 2021.

• Repeals the entire Employment and Training Technology Fund subsection effective June 30, 2031.