2002 Session

Budget Amendments - SB30 (Member Request)

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Chief Patron: Miller Y.
Workforce Retraining Program

Item 108 #1s

Item 108 #1s

First Year - FY2003 Second Year - FY2004
Commerce And Trade
Business Assistance, Department of FY2003 $2,000,000 FY2004 $2,000,000 GF

Page 70, line 34, strike "$21,933,851" and insert "$23,933,851".
Page 70, line 34, strike "$22,096,056" and insert "$24,096,056".
Page 71, after line 46, insert:
"F.1.  Out of the amounts provided for Industrial Development Services shall be deposited $2,000,000 the first year and $2,000,000 the second year from the general fund to a special nonreverting fund to be established in the state treasury as the Workforce Retraining Fund.  The fund shall consist of such moneys as may be appropriated by the General Assembly from time to time.  Any moneys deposited to or remaining in the Fund during or at the end of each fiscal year or biennium, including interest thereon, shall not revert to the general fund but shall remain in the Fund and be available for appropriation in ensuing fiscal years.  Interest earned on all moneys in the Fund shall remain in the Fund and be credited to it.
2.  Moneys from the fund shall be used to provide consulting services to small businesses and to assist such companies with efforts to retrain their workforce in accordance with the provisions of Senate Bill 5 (2002 Session).".

(This amendment provides $4.0 million from the general fund in 2002-2004 to capitalize a special nonreverting fund to provide consulting services and to assist companies with retraining their existing workforce to increase productivity.)