Introduced
by
To authorize a new state job training subsidy for particular employers. This would allow a community college to borrow to pay for training a particular employer’s new hires. The principle and interest would be repaid by means of the state transferring to the college a portion of the personal income tax that the particular employer withholds from the pay of new employees. In essence, the subsidy would be paid out of the state general fund. The bill requires the employer to agree to make the amount of the debt a lien on the firm’s property. However the college’s bonds would also be backed by the college’s other revenue sources.
Referred to the Committee on Education
Reported without amendment
Without amendment and with the recommendation that the bill pass.
