Report Title:

Employment and Training Fund

Description:

Requires a percentage of unemployment insurance assessments to be credited to the employment and training fund.

HOUSE OF REPRESENTATIVES

H.B. NO.

2624

TWENTY-THIRD LEGISLATURE, 2006

  

STATE OF HAWAII

  

 

A BILL FOR AN ACT

 

RELATING TO Labor.

 

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

SECTION 1. Chapter 383, Hawaii Revised Statutes, is amended by adding a new section to be appropriately designated and to read as follows:

"§383- Distribution of contributions. All contributions pursuant to this chapter shall be deposited as follows:

(1) per cent into the unemployment compensation fund; and

(2) per cent into the employment and training fund."

SECTION 2. Section 383-121, Hawaii Revised Statutes, is amended to read as follows:

"§383-121 Unemployment compensation fund; establishment and control. There is established in the treasury of the State as a special fund, separate and apart from all public moneys or funds of the State, an unemployment compensation fund, which shall be administered by the department of labor and industrial relations exclusively for the purposes of this chapter. [All contributions] Contributions pursuant to this chapter shall be paid into the fund according to section 383- and all compensation and benefits payable pursuant to this chapter shall be paid from the fund. All moneys in the fund shall be mingled and undivided. The fund shall consist of:

(1) All contributions collected pursuant to this chapter;

(2) Interest earned on any moneys in the fund;

(3) Any property or securities acquired through the use of moneys belonging to the fund;

(4) All earnings of such property or securities;

(5) All moneys credited to this State's account in the unemployment trust fund pursuant to section 903 of the Social Security Act, as amended; and

(6) All other moneys received for the fund from any other source."

SECTION 3. Section 383-128, Hawaii Revised Statutes, is amended by amending subsection (a) to read as follows:

"(a) Effective January 1, 1992, there is established in the state treasury, apart from all other funds in this State, a special fund to be known as the employment and training fund. All assessments collected pursuant to section 383- , section 383-129, and all other moneys received by the fund from any other source shall be deposited into the employment and training fund."

SECTION 4. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.

SECTION 5. This Act shall take effect on July 1, 2006.

INTRODUCED BY:

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