AB 765 (Flora R) Employment Training Fund: federal loan interest payments.

Current Text: Introduced: 2/18/2025
Status: 3/3/2025-Referred to Com. on L. & E.
Location: 3/3/2025-A. L. & E.
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.