HB 698

Virginia Workforce Development and Career Connection and Training Foundation and Fund. Establishes as a body politic and corporate the Virginia Workforce Development and Career Connection and Training Foundation to support the interests of the Commonwealth's workforce and its employers and contributors through the Secretary of Labor and the programs and services of the Department of Workforce Development and Advancement. The bill sets out the membership and powers and duties of the Foundation, provides that the Foundation may hire an Executive Director and employees, and creates the Virginia Workforce Development and Career Connection and Training Fund. The bill provides that funds or property to the Fund are gifts to the Commonwealth and the Fund is exempt from all state and local taxes.