IL SB3316

Amends the Public Community College Act to authorize community college district boards to enter into agreements with employers to provide new jobs training programs, including training, equipment, materials, and on-the-job instruction.

Allows program costs to be paid from property taxes on employer business property where new jobs are created, tuition and student fees, or guaranteed payments from these sources.

Permits boards to borrow money and issue certificates payable from future receipts of program cost payments, with principal and interest pledged to certificate repayment.

Requires boards to levy an annual standby tax on all taxable property within the district as additional security for certificate payment if program revenues are insufficient.

Limits deferral of program costs to 10 years from project commencement and restricts on-the-job training costs to 50% of annual gross payroll for up to one year of new jobs.