2008 Senate Bill 1342 ↩

Senate Roll Call 741: Passed

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 aggregate new debt would be capped at $60 million statewide; principle and interest would be repaid by 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 debt would also be backed by the college’s other revenue sources.