Plain English Breakdown
The official status shows the bill passed both chambers, but no effective date is provided in the source material.
AB-765: Rules for Using Employment Training Money
This law stops the state from using money in the Employment Training Fund to pay interest on federal loans unless lawmakers pass a new rule and explain why it is needed.
What This Bill Does
- Prohibits moving money from the Employment Training Fund to pay interest on federal loans for the Unemployment Fund or related debts without approval.
- Requires the Legislature to approve any such transfer by passing a specific statute.
- Mandates that officials create and publish a report explaining why using this money is necessary before it can happen.
Who It Names or Affects
- The Employment Training Panel within the Employment Development Department
- The Legislature, which must approve any changes to how fund money is used
Terms To Know
- Employment Training Fund
- A pool of state money kept in the State Treasury for job training programs.
- Unemployment Fund
- The fund that holds money to pay benefits to people who have lost their jobs and receives federal loans.
- Statute
- A written law passed by the Legislature.
Limits and Unknowns
- The text does not say when this bill will officially become active.
- The source material does not explain what happens if officials try to move money without following these new rules.
- The document mentions related findings and declarations but does not list their specific content.