Provides for low interest loan service to displaced homemakers; appropriation

BILL NUMBER:S2330

Title of bill

An act to amend the labor law, in relation to providing low interest loans to displaced homemakers and making an appropriation therefor

Existing law

Amends the labor law by adding 825-a which authorizes the Department of Labor to set up a special loan program for displaced homemakers.

Justification

The displaced homemaker is faced with a myriad of problems which ultimately centers around increased financial strain. The establishment of a low interest loan fund would enable them to take part in job training and other educational programs which they would not otherwise be able to afford. This is especially important in times when financial aid is shrinking substantially. The fund, at a minimal cost to the state, would serve to: (1) extend job training and other educational programs to displaced homemakers with little financial security; (2) decrease the number of welfare recipients by supplying a means for homemakers in general by allowing the program to provide essential aid to carry out its goal.

Legislative history

1999-2000: S.2437 Died in Committee 2001-2002: S.2441 Died in Committee 2003-2004: S.1631 Died in Committee 2005-2006: S.1495 Died in Committee 2007-2008: S.4032 Died in Committee 2008-2009: S.4928 Died in Committee

Fiscal implications

Original appropriation of $270,000 to be maintained by the Department of Labor. This appropriation would become unnecessary in the future as original loans are paid back. The administration of the programs would then be supplemented by the interest of the loans.

Effective date

This act shall take effect on the one hundred twentieth day after it shall have become a law.