MS HB1554

Establishes the "Mississippi Works Fund" as a special state treasury fund to support workforce training activities approved by the Mississippi Development Authority in support of economic development.

Requires employers to pay Mississippi Works contributions at rates of 0.08% of taxable wages for calendar year 2016 and 0.04% for subsequent years when the general experience ratio (adjusted and reduced by 50%) is less than 0.2%.

Designates the Mississippi Department of Employment Security Executive Director to disburse Mississippi Works Fund dollars exclusively in accordance with rules promulgated by the State Workforce Investment Board Rules Committee, with restrictions including a $500,000 annual per-employer limit and prohibition on supplanting other workforce funding sources.

Creates a State Workforce Investment Board Rules Committee consisting of eight members including executive directors of the Mississippi Development Authority, Department of Employment Security, and Community College Board, with authority to promulgate rules and regulations for Mississippi Works Fund distribution.

Requires the State Workforce Investment Board to establish performance metrics for the Mississippi Works Fund to measure added value to the state economy and report annually to the Governor, Lieutenant Governor, and Speaker of the House.