Mix flour, almond flour and baking powder in small bowl; set aside.
Beat Fleischmann's and granulated sugar in large bowl with electric mixer on medium speed until light and fluffy. Add egg and vanilla; mix well. Add flour mixture; beat until well blended.
Divide dough into four equal portions; wrap individually with plastic wrap. Refrigerate at least 1 hour or overnight.
Preheat oven to 350°F. Spray baking sheets with cooking spray. Place 1 portion dough on lightly floured work surface; roll to 1/8-inch thickness. Cut into round shapes with 2-1/2-inch cookie cutter. Place cookies, 1 inch apart, on baking sheet. Cut three (1/4-inch) circles from half of the cookies using a sharp knife. Repeat with remaining dough, re-rolling scraps as needed.
Bake 8 to 10 minutes or just until edges are browned lightly. Remove to wire racks; cool completely.
Assemble cookies by spreading 1/2 teaspoon preserves onto each solid cookie; top with 1 cut-out cookie. Sift confectioners' sugar over assembled cookies. Store in airtight container at room temperature.