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ID H0079
Bill
AI Summary
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Removes language from the definition of "unencumbered balance" in the Workforce Development Training Fund that previously included amounts obligated pursuant to letters of intent for proposed job training projects
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Retains amounts obligated under fully-executed workforce development training fund contracts and administrative costs due and payable in the unencumbered balance calculation
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Extends the sunset provision for the training tax from January 1, 2012 to January 1, 2018, requiring legislative approval to continue the tax beyond that date
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Maintains the training tax rate at 3% of the taxable wage rate for covered employers, excluding deficit employers in rate class six
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Preserves the $6,000,000 threshold for transferring excess training fund balances to the employment security reserve fund
Legislative Description
Amends existing law relating to the Workforce Development Training Fund administered by the Department of Labor to delete language regarding amounts that have been obligated pursuant to letters of intent for proposed job training projects that is used in calculating the fund balance of the Training Fund and to extend the sunset provision.
EMPLOYMENT SECURITY LAW
Last Action
Subsection (4)
3/15/2011