Text: HSB00048 Text: HSB00050 Text: HSB00000 - HSB00099 Text: HSB Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Section 1. Section 422.16A, Code 1997, is amended to read 1 2 as follows: 1 3 422.16A JOB TRAINING WITHHOLDING – CERTIFICATION AND 1 4 TRANSFER. 1 5Upon payment in full of a certificate of participation or1 6other obligation issued to fund a job training program under1 7chapter 260E, including a certificate of participation repaid1 8in whole or in part by the supplemental new jobs credit from1 9withholding under section 15A.7, the community college1 10providing the job training program shall notify the department1 11of economic development of the amount paid by the employer or1 12business to the community college to retire the certificate1 13during the last twelve months of withholding collections.1 14 Upon the completion by a business of its repayment obligation 1 15 for a training project funded under chapter 260E, including a 1 16 job training project funded under chapter 260E repaid in whole 1 17 or in part by the supplemental new jobs credit from 1 18 withholding under section 15A.7, the sponsoring community 1 19 college shall report to the department of economic development 1 20 the amount of withholding paid by the business to the 1 21 community college during the final twelve months of 1 22 withholding payments. The department of economic development 1 23 shall notify the department of revenue and finance of that 1 24 amount. The department shall credit to the workforce 1 25 development fund account established in section 15.342A 1 26 twenty-five percent of that amount each quarter for a period 1 27 of ten years. If the amount of withholding from the business 1 28 or employer is insufficient, the department shall prorate the 1 29 quarterly amount credited to the workforce development fund 1 30 account. The maximum amount from all employers which shall be 1 31 transferred to the workforce development fund account in any 1 32 year is ten million dollars. 1 33 Sec. 2. EFFECTIVE AND APPLICABILITY DATES. This Act, 1 34 being deemed of immediate importance, takes effect upon 1 35 enactment and applies retroactively to July 1, 1996, to 2 1 include any final twelve months of withholding payments 2 2 beginning on or after that date. 2 3 EXPLANATION 2 4 Under the industrial new jobs training program in Code 2 5 chapter 260E, a community college and a business may enter 2 6 into an agreement to establish a training arrangement. The 2 7 agreement may provide for program costs to be paid, in whole 2 8 or in part, by new jobs credit from withholding which shall be 2 9 based upon the wages paid to the employees in the new jobs. A 2 10 new job is a job in a new or expanding industry but does not 2 11 include jobs of recalled workers, or replacement jobs or other 2 12 jobs that formerly existed in the industry in the state. 2 13 This bill provides that when an individual business 2 14 completes its repayment obligation for a project funded under 2 15 chapter 260E, the community college shall report to the 2 16 department of economic development the amount of withholding 2 17 paid by the business to the community college during the final 2 18 12 months of withholding payment. 2 19 The bill would take effect upon enactment and would apply 2 20 retroactively to July 1, 1996. 2 21 LSB 1326DP 77 2 22 tm/sc/14.1
Text: HSB00048 Text: HSB00050 Text: HSB00000 - HSB00099 Text: HSB Index Bills and Amendments: General Index Bill History: General Index
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