Mississippi governor signs workforce training fund into law

JACKSON, Miss. (AP) -- Mississippi Gov. Phil Bryant has signed into law a bill that establishes a state fund for workforce training programs.

Senate Bill 2808 creates the Mississippi Works Fund to support state-approved programs run mostly out of community colleges.

The fund was created out of a surplus in the state's unemployment compensation fund. It will start off with $10 million in its first year. Seventy-five percent of the money will go toward new job creation.

The bill also cuts the minimum unemployment tax rate that employers pay to zero percent. Lieutenant Gov. Tate Reeves said the cut could save businesses up to $195 million over the next decade.