AB 765 (Flora R) Employment Training Fund: federal loan interest payments.
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(Flora R) Employment Training Fund: federal loan interest payments. |
Position: Watch
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Introduced: 2/18/2025 |
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Status: 5/1/2025-Failed Deadline pursuant to Rule 61(a)(2). (Last location was INS. on 4/3/2025)(May be acted upon Jan 2026) |
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Location: 5/1/2025-A. 2 YEAR |
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Summary: Current law establishes the Employment Training Fund in the State Treasury, and requires that moneys in the fund be expended only for the purposes of the Employment Training Panel, except as provided. Current law authorizes, with the approval of the Legislature, the fund or contributions to it to be used to pay interest charged on federal loans to the Unemployment Fund. This bill would instead prohibit moneys in the fund from being diverted, transferred, or otherwise used to pay interest charged on federal loans to the Unemployment Fund, or related liabilities, without the approval of the Legislature by statute and a public report justifying the necessity for the diversion, transfer, or use. |