Bill Text: FL S0640 | 2019 | Regular Session | Introduced

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Bill Title: Trust Funds/Florida Business and Workforce Competitiveness Trust Fund

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Failed) 2019-05-03 - Died in Commerce and Tourism [S0640 Detail]

Download: Florida-2019-S0640-Introduced.html

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       Florida Senate - 2019                                     SB 640
       
       
        
       By Senator Braynon
       
       
       
       
       
       35-02055-19                                            2019640__
    1                        A bill to be entitled                      
    2         An act relating to trust funds; creating s. 445.015,
    3         F.S.; creating the Florida Business and Workforce
    4         Competitiveness Trust Fund within the State Treasury,
    5         to be administered by the Department of Economic
    6         Opportunity; providing the purpose of the trust fund;
    7         requiring trust fund moneys to be provided to local
    8         workforce development boards to award and administer
    9         certain grants; specifying duties of CareerSource
   10         Florida, Inc., with respect to the trust fund;
   11         providing that trust fund moneys are composed of a
   12         specified assessment to be imposed on certain
   13         employers; limiting eligibility of grants to certain
   14         employers; providing requirements and limitations for
   15         the assessment and administrative costs; providing for
   16         future review and termination or re-creation of the
   17         trust fund; providing a directive to the Division of
   18         Law Revision; providing an effective date.
   19          
   20  Be It Enacted by the Legislature of the State of Florida:
   21  
   22         Section 1. Section 445.015, Florida Statutes, is created to
   23  read:
   24         445.015 Florida Business and Workforce Competitiveness
   25  Trust Fund.—
   26         (1) The Florida Business and Workforce Competitiveness
   27  Trust Fund is created within the State Treasury and is to be
   28  administered by the Department of Economic Opportunity.
   29         (2) The trust fund is established for use as an additional
   30  revenue source to support the growth of businesses in this state
   31  and to provide workforce training needed to effectively address
   32  changing skill requirements that result from new technology,
   33  retooling, new product lines, and new organizational
   34  structuring.
   35         (3) Funds credited to the trust fund must be provided to
   36  local workforce development boards, appointed under s. 445.007,
   37  to award incentive grants to employers to hire unemployment
   38  compensation claimants. Each local workforce development board
   39  shall determine award recipients and administer grants within
   40  the funding available to it.
   41         (4) CareerSource Florida, Inc., shall:
   42         (a) Establish guidelines governing the administration of
   43  the trust fund;
   44         (b) Establish criteria to be used by local workforce
   45  development boards in evaluating applications for funding; and
   46         (c) Allocate to each local workforce development board its
   47  share of funds available under the trust fund.
   48         (5) Moneys in the trust fund are composed of a quarterly
   49  employment and training investment assessment imposed beginning
   50  July 1, 2019, on each employer paying contributions under s.
   51  443.131 at a rate below the maximum contribution rate of 5.4
   52  percent as provided in s. 443.131(3)(e)2.a.(V). The assessment
   53  must be a separate assessment of one-tenth of 1 percent of
   54  wages, as described under s. 443.1217, paid by the employer.
   55         (a) An employer is eligible for a grant award only if the
   56  employer is subject to paying contributions under s. 443.131 and
   57  is subject to the assessment.
   58         (b) The assessment is due at the same time, must be
   59  collected in the same manner, and is subject to the same
   60  penalties and interest as other contributions assessed under s.
   61  443.131.
   62         (c) The assessment may not be imposed for any year in which
   63  the balance in the Unemployment Compensation Trust Fund requires
   64  the computation of a positive adjustment factor as provided in
   65  s. 443.131(3)(e)2.a.(III).
   66         (d) Administrative costs associated with the collection of
   67  the trust fund must be paid out of revenue generated from the
   68  assessment. The cost of collection and administration of the
   69  assessment under this subsection must be allocated based on a
   70  plan approved by the United States Department of Labor.
   71         (6) In accordance with s. 19(f)(2), Art. III of the State
   72  Constitution, the Florida Business and Workforce Competitiveness
   73  Trust Fund shall, unless terminated sooner, be terminated 4
   74  years after the effective date of this act. Before its scheduled
   75  termination, the trust fund shall be reviewed as provided in s.
   76  215.3206(1) and (2).
   77         Section 2. The Division of Law Revision is directed to
   78  replace the phrase “4 years after the effective date of this
   79  act” where it occurs in this act with the date the trust fund
   80  will terminate.
   81         Section 3. This act shall take effect upon becoming a law.