It is enacted by the General Assembly as follows:

SECTION 1. Section 28-42-84 of the General Laws in Chapter 28-42 entitled "Employment Security -- General Provisions" is hereby amended to read as follows:

{ADD 28-42-84. Disbursements from the job development fund -- Unexpended balance. -- ADD} (a) The moneys in the job development fund shall be used for the following purposes:

(1) To reimburse the department of employment and training for the loss of any federal funds resulting from the collection and maintenance of the fund by the department of employment and training;

(2) To make refunds of contributions erroneously collected and deposited in the job development fund;

(3) To pay any administrative expenses incurred by the department of employment and training associated with the collection of the contributions for employers paid pursuant to section 28-43-8.5, and any other administrative expenses associated with the maintenance of the job development fund, including the payment of all premiums upon bonds required pursuant to section 28-42-85; {DEL and DEL}

(4) To provide for job training, counseling and assessment services and other related activities and services. Services will include but are not limited to research, development, coordination, and training activities to promote workforce development and business development as established by the Rhode Island Human Resource Investment Council {DEL . DEL} {ADD ; and ADD}

{ADD (5) To support the state's job training for economic development. ADD}

(b) * * *

SECTION 2. Section 28-43-8.5 of the General Laws in Chapter 28-43 entitled "Employment Security -- Contributions" is hereby amended to read as follows:

{ADD 28-43-8.5. Job development assessment. -- ADD} For the tax year {DEL 1989 DEL} {ADD 1994 ADD} and subsequent tax years each employer subject to this chapter shall be required to pay a job development assessment of {DEL one-tenth of one percent (0.1%) DEL} {ADD fifteen hundredths of one percent (.15%) ADD} of that employer's taxable payroll, in addition to any other payment which that employer is required to make under any other provision of this chapter; provided, however, that the assessment shall not be considered as part of the individual employer's contribution rate for the purpose of determining the individual employer's balancing charge pursuant to section 28-43-9. Provided further however that the tax rate for all employers subject to the contribution provisions of chapters 42-44, inclusive of this title, shall be reduced by {DEL one-tenth of one percent (0.1%) DEL} {ADD fifteen hundredths of one percent (.15%) ADD} .

SECTION 3. This act shall take effect upon passage.