Bill > HB4573

This bill amends sections 161, 162, and 164 of the 1966 Michigan Public Act 331, which regulates community colleges in the state. The key provisions of the bill are: 1. It defines important terms related to the "new jobs training program" that community college districts can establish, including "new job," "new jobs credit from withholding," and "program costs." 2. It allows community college districts to enter into agreements with employers to establish new jobs training programs, which can be funded through the new jobs credit from withholding or other sources. 3. It authorizes community college districts to issue new jobs training revenue bonds to finance the costs of new jobs training programs, and provides details on the terms and conditions of these bonds. 4. It sets a sunset date of December 31, 2033, after which community college districts can no longer enter into new agreements or issue new bonds for the new jobs training program. The overall purpose of the bill is to provide a framework for community colleges in Michigan to partner with employers to offer training programs that create new jobs in the state, with the ability to finance these programs through a new jobs credit from withholding and the issuance of bonds.

Business and Industry, Education

http://legislature.mi.gov/doc.aspx?2023-HB-4573