81-1201.21 Job Training Cash Fund; created; use; investment. - Nebraska Statutes

81-1201.21. Job TrainingCash Fund; created; use; investment.(1) There ishereby created the Job Training Cash Fund. The fund shall be under the directionof the Department of Economic Development. Money may be transferred to thefund pursuant to subdivision (1)(b)(iv) of section 48-621 and from the CashReserve Fund at the direction of the Legislature. The department shall establisha subaccount for all money transferred from the Cash Reserve Fund to the JobTraining Cash Fund on or after July 1, 2005.(2) The department shall use the Job Training Cash Fund or the subaccount established in subsection(1) of this section to provide reimbursements for job trainingactivities, including employee assessment, preemployment training, on-the-jobtraining, training equipment costs, and other reasonable costs related tohelping industry and business locate or expand in Nebraska, or to provideupgrade skills training of the existing labor force necessary to adapt tonew technology or the introduction of new product lines.(3) The department shall establish a subaccount within thefund to provide traininggrants for training employees and potential employees of businessesthat (a) employ twenty-five or fewer employees on the application date, (b)employ, or train for potential employment, residents of rural areas of Nebraska,or (c) are located in or employ, or train for potential employment, residentsof high-poverty areas as defined in section 81-1203. The departmentshall calculate the amount of prior year investment income earnings accruingto the fund and allocate such amount to the subaccount for training grants under this subsection.The subaccount shall also be used as provided in the Teleworker Job CreationAct.(4) Any money in the fund available for investment shall beinvested by the state investment officer pursuant to the Nebraska CapitalExpansion Act and the Nebraska State Funds Investment Act. SourceLaws 1989, LB 305, § 3; Laws 1994, LB 1066, § 107; Laws 1995, LB 1, § 15; Laws 2000, LB 953, § 11; Laws 2005, LB 427, § 1; Laws 2007, LB322, § 27; Laws 2008, LB956, § 1; Laws 2009, LB316, § 22; Laws 2009, First Spec. Sess., LB3, § 72; Laws 2010, LB961, § 1; Laws 2010, LB1081, § 12.Note: The Revisor of Statutes has pursuant to section 49-769 correlated LB961, section 1, with LB1081, section 12, to reflect all amendments.Note: Changes made by LB1081 became effective April 8, 2010. Changes made by LB961 became effective July 15, 2010. Cross ReferencesNebraska Capital Expansion Act, see section 72-1269.Nebraska State Funds Investment Act, see section 72-1260.Teleworker Job Creation Act, see section 48-3001.