Text: SF00266 Text: SF00268 Text: SF00200 - SF00299 Text: SF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Section 1. NEW SECTION. 84A.11 INDIVIDUAL TRAINING
1 2 ACCOUNT PROGRAM – FUND.
1 3 1. a. There is created in the state treasury a special
1 4 fund known as the Iowa individual training account fund. The
1 5 fund is separate and distinct from the unemployment
1 6 compensation fund. The fund consists of all moneys deposited
1 7 in the fund as provided in section 96.7, subsection 13.
1 8 Moneys in the fund are not subject to section 8.33.
1 9 Notwithstanding section 12C.7, interest on and earnings from
1 10 moneys in the fund shall be credited to the fund.
1 11 b. The director of the department of workforce development
1 12 shall serve as trustee of the fund and shall administer the
1 13 fund. Any loss to the fund shall be charged against the fund
1 14 and the director shall not be personally liable for such loss.
1 15 All moneys which are paid or deposited into this fund are
1 16 hereby appropriated and made available to the department of
1 17 workforce development to be used only for the purposes
1 18 provided in this section.
1 19 2. The department of workforce development shall implement
1 20 and administer an individual training account program for
1 21 eligible recipients. Eligible recipients are employees whose
1 22 employers contribute to the unemployment compensation fund
1 23 created in section 96.9 or persons who are unemployed and
1 24 eligible for unemployment compensation from the fund. The
1 25 program shall provide vouchers to eligible recipients to
1 26 obtain eligible job training and retraining for both basic
1 27 skill development and vocational or technical training.
1 28 Vouchers shall be provided through workforce development
1 29 centers as established in section 84B.1. To obtain a voucher
1 30 under this program, an eligible recipient shall provide at
1 31 least a dollar-per-dollar match. The department shall
1 32 establish guidelines concerning the maximum dollar amount of
1 33 assistance available to eligible recipients which guidelines
1 34 shall provide greater financial assistance to persons with a
1 35 greater number of years of employment with employers who
2 1 contribute to the unemployment compensation fund. The
2 2 department shall adopt rules pursuant to chapter 17A to
2 3 administer the program, including rules relating to
2 4 eligibility criteria, eligible training programs, and services
2 5 to implement the intent of this section.
2 6 Sec. 2. Section 96.7, Code 2003, is amended by adding the
2 7 following new subsection:
2 8 NEW SUBSECTION. 13. INDIVIDUAL TRAINING ACCOUNT FUND
2 9 TRANSFER. Prior to the end of each calendar year, the
2 10 department shall establish a percentage rate of the
2 11 unemployment compensation tax to be collected for the next
2 12 calendar year which shall be deposited in the individual
2 13 training account fund created in section 84A.11 and which rate
2 14 shall be sufficient to collect an amount representing forty
2 15 percent of the interest earned on moneys in the fund for the
2 16 previous calendar year. The cost of collection and
2 17 determination of the necessary rate shall be paid for from
2 18 moneys deposited in the fund established in section 84A.11.
2 19 EXPLANATION
2 20 This bill establishes an individual training account
2 21 program and fund within the department of workforce
2 22 development. The program shall provide vouchers to eligible
2 23 recipients to obtain job training and retraining services.
2 24 Eligible recipients are defined to include employed and
2 25 unemployed workers covered by the unemployment compensation
2 26 trust fund. The program provides that employees seeking
2 27 assistance from the program are required to match assistance
2 28 received on at least a dollar-for-dollar basis with the dollar
2 29 amount of assistance based, in part, on the number of years
2 30 the recipient has been employed. Funding for the program
2 31 shall be through an individual training account fund which
2 32 shall consist of moneys transferred to the fund from a portion
2 33 of unemployment compensation taxes collected during a year
2 34 which represents an amount equal to 40 percent of the interest
2 35 earned on moneys in the unemployment compensation trust fund
3 1 created in Code section 96.9 for the previous year.
3 2 LSB 1780SS 80
3 3 ec/cf/24
Text: SF00266 Text: SF00268 Text: SF00200 - SF00299 Text: SF Index Bills and Amendments: General Index Bill History: General Index
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