178.764. Missouri community college job retention training program fund established--forms, reimbursement from the fund. - Missouri Statutes

Missouri community college job retention training program fundestablished--forms, reimbursement from the fund.

178.764. 1. There is hereby established within the state treasury aspecial fund, to be known as the "Missouri Community College Job RetentionTraining Program Fund", to be administered by the division of workforcedevelopment. The department of revenue shall credit to the communitycollege job retention training program fund, as received, all retained jobscredit from withholding remitted by employers pursuant to section 178.762.The fund shall also consist of any gifts, contributions, grants, orbequests received from federal, private, or other sources. The generalassembly, however, shall not provide for any transfer of general revenuefunds into the community college job retention training program fund.Moneys in the Missouri community college job retention training programfund shall be disbursed to the division of workforce development pursuantto regular appropriations by the general assembly. The division shalldisburse such appropriated funds in a timely manner into the special fundsestablished by community college districts for projects, which funds shallbe used to pay program costs, including the principal, premium, andinterest on certificates issued by the district to finance or refinance, inwhole or in part, a project. Such disbursements by the division ofworkforce development shall be made to the special fund for each project inthe same proportion as the retained jobs credit from withholding remittedby the employer participating in such project bears to the total retainedjobs credit from withholding remitted by all employers participating inprojects during the period for which the disbursement is made. Moneys forretained jobs training programs established under sections 178.760 to178.764 shall be obtained from appropriations made by the general assemblyfrom the Missouri community college job retention training program fund.All moneys remaining in the Missouri community college job retentiontraining program fund at the end of any fiscal year shall not lapse to thegeneral revenue fund, as provided in section 33.080, RSMo, but shall remainin the Missouri community college job retention training program fund.

2. The department of revenue shall develop such forms as arenecessary to demonstrate accurately each employer's retained jobs creditfrom withholding paid into the Missouri community college job retentiontraining program fund. The retained jobs credit from withholding shall beaccounted as separate from the normal withholding tax paid to thedepartment of revenue by the employer. Reimbursements made by allemployers to the Missouri community college job retention training programfund shall be no less than all allocations made by the division ofworkforce development to all community college districts for all jobretention projects. The employer shall remit the amount of the retainedjob credit to the department of revenue in the same manner as provided insections 143.191 to 143.265, RSMo.

(L. 2004 S.B. 1155 § 178.984)