(a) There is established on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a trust fund to be known as the "Department of Workforce Services Training Trust Fund".
(b)
(1) The fund shall consist of the proceeds of the stabilization tax specified in § 11-10-706(f), any interest accruing on these revenues, and any other funds made available by the General Assembly.
(2) The fund shall be used for worker training under rules and regulations promulgated by the Director of the Department of Workforce Services.
(c) The director shall report to the Legislative Council on a quarterly basis on all uses of the fund.
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