Senate Bill No. 151, identified as File No. 231, is a legislative proposal that aims to establish a full employment trust fund. The bill mandates the Labor Commissioner to conduct a study on the creation of this trust fund, which would be managed by the Labor Department. The purpose of the fund is to provide employment opportunity grants to public and nonprofit entities, thereby creating job opportunities and job-training programs. The study is required to include an examination of existing programs that offer similar opportunities and job training, as well as assess the feasibility of using the fund for workforce housing, employment opportunities for disadvantaged youth, and work-study opportunities for secondary and post-secondary students. The findings of the study must be submitted to the joint standing committee of the General Assembly with jurisdiction over labor and public employees by January 1, 2024.

The fiscal impact of the bill is contingent on the scope of the study. If a limited study is conducted, the Labor Department may not need additional resources. However, a more comprehensive study could incur a one-time cost of up to $275,000 in fiscal year 2024 for consultant services. This cost estimate is based on a similar analysis required under the bill that was provided to the Office of Workforce Strategy in July 2022. The bill has received a joint favorable report from the Labor and Public Employees Committee with a unanimous vote of 12 to 0 on March 16, 2023. The act would take effect upon passage and would create a new section in the law.