Bill frees money for training in R.I.

PROVIDENCE – The Senate this month passed legislation sponsored by Sen. V. Susan Sosnowski to exempt the Job Development Fund from indirect cost recovery on restricted-receipts accounts. That action will free more than $1.2 million annually for use in job-training and work-experience efforts.
The legislation is part of the Senate’s comprehensive “Rhode to Work” initiative.
The Job Development Fund is derived from an assessment on Rhode Island businesses of 0.21 percent of the taxable wage base per employee. An indirect cost-recovery assessment of 10 percent is paid to the state’s general fund from revenue included in restricted-receipt accounts, including the Job Development Fund.
Exempting the fund in fiscal 2014 would have shifted approximately $1.2 million back into programs that provide job and skill training. •

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