SB 6497-S - DIGEST

(DIGEST OF PROPOSED 1ST SUBSTITUTE)

Finds that the availability of a trained work force is critical to attracting and retaining businesses.

Finds that the growth of many businesses is limited by an unmet need for training. Furthermore, training not only helps business, it also improves the quality of life for workers and communities.

Provides that, because of the statewide public benefit to be gained from instituting a customized training program, the legislature intends to create a new program to fund work force training through the sale of bonds. The bonds themselves will be paid by the earmarking of the state business and occupation tax and public utility tax that is imposed on participating employers.