California AB765 aims to restrict the use of the Employment Training Fund to its intended purposes.

California AB765 amends the Unemployment Insurance Code to ensure the Employment Training Fund is used exclusively for workforce development and training programs. The bill prohibits using the fund to pay interest on federal loans to the Unemployment Fund without legislative approval. It mandates that unencumbered funds from the Employment Training Panel revert to the Unemployment Insurance Fund. The Controller can still use the fund for loans to the General Fund, with interest payable at the current earning rate of the loaned fund.

California AB765 aims to restrict the use of the Employment Training Fund to its intended purposes.

California AB765 amends the Unemployment Insurance Code to ensure the Employment Training Fund is used exclusively for workforce development and training programs. The bill prohibits using the fund to pay interest on federal loans to the Unemployment Fund without legislative approval. It mandates that unencumbered funds from the Employment Training Panel revert to the Unemployment Insurance Fund. The Controller can still use the fund for loans to the General Fund, with interest payable at the current earning rate of the loaned fund.