Bill > HB698

This bill establishes the Virginia Workforce Development and Career Connection and Training Foundation, a public corporation designed to support Virginia's workforce and employers through the Secretary of Labor and the Department of Workforce Development and Advancement. The Foundation will be governed by a board of trustees with a majority of members from large private corporations or fast-growing industries, along with ex officio members like the Secretary of Labor. The Foundation has the power to administer the Virginia Workforce Development and Career Connection and Training Fund, accept gifts and donations, enter into contracts, and develop revenue sources. It can hire an Executive Director and employees, whose compensation will be funded by money raised by the Foundation. The bill also creates the Virginia Workforce Development and Career Connection and Training Fund, a special non-reverting fund in the state treasury where all appropriated funds and gifts will be held, and this fund is exempt from state and local taxes, with gifts to the fund considered gifts to the Commonwealth.

Budget and Finance, Justice, Labor and Employment

https://lis.virginia.gov/bill-details/20261/HB698