Bill > H3812

This bill amends Section 14L of Chapter 151A of the General Laws, which pertains to job training in the Commonwealth. Specifically, it removes language that required the commissioner to adjust contribution rates to ensure a total of $22,000,000 in contributions annually. Instead, the bill inserts language stating that "proceeds" (referring to contributions or funds collected) are limited "up to the amount of $22,000,000." Furthermore, it establishes that any proceeds exceeding $22,000,000 will be managed by the Executive Office of Labor and Workforce Development, including the Commonwealth Corporation, and will be deposited into the Workforce Competitiveness Trust Fund, as established by Chapter 29 Section 2WWW. This suggests a shift in how excess funds are handled, directing them towards a specific trust fund for workforce development initiatives.