SECTION 1. Section 14L of chapter 151A of the General Laws, as appearing in the 2020 Official Edition, is hereby amended by striking out, in lines 6 to 11, and inserting in place thereof the following sentence:-

To the extent consistent with federal law, the commissioner shall adjust the rate of said contribution so that the total amount of said contributions in a year substantially equals $22,000,000, and shall adjust to the same extent the rate of the contribution required by section 14.

SECTION 2. Said section 14L of said chapter 151A, as so appearing, is hereby further amended by inserting after the word “proceeds”, in line 11, the following words:- up to the amount of $22,000,000.

SECTION 3. Said section 14L of said chapter 151A, as so appearing, is hereby further amended by inserting after subsection (b) the following subsections:-

(c) All proceeds collected, pursuant to subsection (a), in excess of $22,000,000 shall be deposited in the Workforce Competitiveness Trust Fund, established by section 2WWW of chapter 29.

(d) Not later than March 1 of each year, the commissioner shall file a report in writing with the joint committee on labor and workforce development and the house and senate committees on ways and means concerning the collection of the workforce training contributions, pursuant to subsection (a), during the calendar year ending on the preceding December 31, which shall include, but not be limited to: (1) the amount collected in each quarter and the total amount collected for the year; (2) the total number of employers that contributed to the fund, and the total number of employees employed by this group of employers; and (3) the contribution rate, to the extent it differs from 0.056 per cent.