House Bill 470 Summary

• Creates the "North Mississippi Workforce Training and Development Fund" as a special fund in the state treasury, to be administered by the Mississippi Department of Employment Security.

• Requires MDES to disburse fund monies over three years to four workforce investment areas: Mississippi Partnership (80%), Delta (10%), Twin Districts (5%), and Southcentral Mississippi Works (5%).

• Transfers the full balance from the Mississippi Development Authority Job Training Grant Fund into the new North Mississippi fund within 30 days of enactment.

• Repeals Section 57-1-451 creating the original MDA Job Training Grant Fund and amends Sections 27-65-75 and 57-73-21 to conform to this act.

• Sections 1 and 2 of the act expire July 1, 2024, and unexpended fund amounts do not lapse but carry forward with any earned interest retained in the fund.