Texas Labor Code - Section 302.101. Training Stabilization Fund
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§ 302.101. TRAINING STABILIZATION FUND. (a) The training
stabilization fund is established as a special trust fund outside
of the state treasury in the custody of the comptroller separate and
apart from all public money or funds of this state. The fund is
composed of:
(1) money deposited to the fund under Section 204.123;
and
(2) any other money received for deposit in the fund.
(b) Money in the training stabilization fund may be used in
a year in which the amounts in the employment and training
investment holding fund are insufficient to meet the legislative
appropriation for that fiscal year for either the Texas Enterprise
Fund or the skills development program strategies and activities.
(c) Money in the training stabilization fund shall be
transferred to the Texas Enterprise Fund and the skills development
fund under Subsection (b) not later than September 30. The transfer
under Subsection (b) shall consist of transferring 67 percent of
the money in the training stabilization fund to the Texas
Enterprise Fund and 33 percent of the money in the training
stabilization fund to the skills development fund. The amount
transferred from the training stabilization fund may not exceed the
amounts appropriated to the Texas Enterprise Fund and skills
development program strategies and activities in the fiscal year in
which the transfer is made.
(d) Interest that accrues on the money in the training
stabilization fund shall be deposited quarterly to the credit of
the compensation fund.
Added by Acts 2005, 79th Leg., ch. 1115, § 4, eff. June 18, 2005.
Section: 302.065 302.081 302.082 302.083 302.084 302.085 302.086 302.101 303.001 303.002 303.003 303.004 303.005 303.006
Last modified: August 10, 2007
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