Workforce development: Lifelong Learning Accounts Initiative Program.

The federal Workforce Investment Act of 1998 provides for workforce investment activities, including activities in which states may participate. Existing law authorizes the Employment Development Department to administer the state unemployment insurance and the disability compensation programs. This bill would, beginning January 1, 2012, create the Lifelong Learning Accounts Initiative Program, for the purpose of providing grants to employers and employees to be used to establish individual lifelong learning accounts, as defined, for the deposit of funds to be used by those employees and employers for purposes related to lifelong education and training. The bill would require the department to establish a grant program and implement and administer the program, as specified. The bill would require the department to prepare and submit a report to specified legislative fiscal and policy committees, evaluating the effectiveness of the program, as prescribed. The bill would provide that its provisions shall only be implemented if the Director of Finance makes a written determination that there are sufficient funds from sources other than the General Fund available for that purpose.