Gov. Phil Bryant on April 21 signed one of MMA’s top priorities for the 2014 legislative session. Senate Bill 2958, authored by Sen. Joey Fillingane (R-Sumrall) will do several things:
- Reduces the unemployment general experience rate paid by employers in 2014.
- Generates a one-time addition of approximately $4 million to the Workforce Enhancement Training (WET) fund to restore the annual WET fund to the amount expected originally, in 2005. (The target was around $21 million per year.)
- Specifies part of this year’s WET funds will be used to develop performance measures of the effective use of these funds and to report results to the governor, lieutenant governor and the Legislature.
- Generates approximately $1 million to be used by the State Workforce Investment Board (SWIB). These funds will be used by the board to hire support personnel, to develop and maintain career awareness programs, and identify and market workforce development programs available in Mississippi. Staffing the SWIB will help to provide consistency and stability in workforce development in the state.
Through this legislation, these allocations can be made with no negative impact on the Unemployment Trust Fund.