HB3570 Summary

• Creates the Industrial New Jobs Training Act allowing community colleges to enter agreements with employers to provide job training, adult education, skill assessments, and related services.

• Establishes funding through: (1) a 1.5% new jobs credit from withholding on wages of participating employees, (2) tuition and fees set by the college board, or (3) guaranteed payments from these sources, with costs deferred up to 10 years.

• Limits on-the-job training costs to 50% of annual gross payroll for new jobs for up to one year.

• Creates an Industrial New Jobs Training Fund in the state treasury to receive the 1.5% withholding credits, with funds allocated to community colleges to pay principal and interest on certificates issued to finance training programs.

• Authorizes community colleges to issue and sell certificates payable from future program payment receipts and allows property tax levy within the project area as backup security for certificate repayment.