Section 206.366 - New jobs training programs and corresponding withholding requirements; report based on information received from community college districts; information to be included in report.
INCOME TAX ACT OF 1967 (EXCERPT)
Act 281 of 1967
206.366 New jobs training programs and corresponding withholding requirements; report based on information received from community college districts; information to be included in report.
Sec. 366.
By July 1 of each year, based on the information received from each community college district pursuant to section 163 of the community college act of 1966, 1966 PA 331, MCL 389.163, the department shall submit to the governor, the clerk of the house of representatives, the secretary of the senate, the chairperson of each standing committee that has jurisdiction over economic development issues, the chairperson of each legislative budget subcommittee that has jurisdiction over economic development issues, and the president of the Michigan strategic fund an annual report concerning the operation and effectiveness of the new jobs training programs and the corresponding withholding requirements under this chapter. The report shall include all of the following:
(a) The number of community colleges participating in the new jobs training program and the names of those colleges.
(b) The number of employers that have entered into agreements with community colleges pursuant to the new jobs training program and the names of those employers organized by major industry group under the standard industrial classification code as compiled by the United States department of labor.
(c) The total amount of money from a new jobs credit from withholding each employer described in subdivision (b) has remitted to the community college district.
(d) The total amount of new jobs training revenue bonds each community college district has authorized, issued, or sold.
(e) The total amount of each community college district's debt related to agreements at the end of the calendar year.
(f) The number of degrees or certificates awarded to program participants in the calendar year.
(g) The number of individuals who entered a program at each community college district in the calendar year; who completed the program in the calendar year; and who were enrolled in a program at the end of the calendar year.
(h) The number of individuals who completed a program and were hired by an employer described in subdivision (b) to fill new jobs.
History: Add. 2008, Act 360, Imd. Eff. Dec. 23, 2008