MI HB4750

Establishes a new jobs training program allowing intermediate school districts to enter into agreements with employers to provide job training and education for creating new jobs in Michigan.

Defines "new jobs" as full-time positions paying at least 175% of state minimum wage that represent a net employment increase and are not recalled, replacement, or relocated positions within the past year.

Authorizes intermediate school districts to issue revenue bonds up to 20 years to finance training programs, with repayment secured by new jobs credit from withholding taxes of employees in new positions.

Requires employers to pay a 15% administrative fee on aggregate amounts and monthly withholding contributions to the intermediate school district; employers must cover any shortfall if withholding tax revenue is insufficient for program costs.

Limits new agreements to before December 31, 2023, and caps total aggregate outstanding obligations across all agreements at $50,000,000 per calendar year; bonds are exempt from state and local taxation.