| Summary |
The bill establishes the regional talent development initiative grant
program (grant program) in the office of economic development (office)
to fund talent development initiatives across the state that meet regional
labor market needs and specified grant program goals, including
initiatives that meet workforce development needs in regions as they
recover from the negative economic impacts of the COVID-19 pandemic.
The office, a state agency designated by the office, or a third party with
whom the office contracts is to serve as the administrator of the grant
program (program administrator). The office is directed to appoint a
steering committee of business, civic, education, and nonprofit
professionals (steering committee) to support the program administrator,
including:
•
Developing a grant application process;
•
Establishing grant application selection and prioritization
criteria; and
•
Advising the program administrator in appointing a
selection committee to review grant applications and make
grant award recommendations.
The office, in collaboration with the departments of labor and
employment, higher education, and education (departments) and the
steering committee, is to identify regions throughout the state to inform
the selection of grant applications.
The office is to publish a report on the grant program by
November 1, 2023, and by each November 1 through November 1, 2027.
The bill creates the regional talent development initiative grant
program fund (grant program fund) and directs the state treasurer to
transfer $91 million from the workers, employers, and workforce centers
cash fund (cash fund) to the grant program fund as follows:
•
$56,750,000 from federal money in the cash fund that the
state received pursuant to the American Rescue Plan Act
of 2021; and
•
$34,250,000 from money in the cash fund that originated
from the general fund.
The money in the grant program fund is continuously appropriated
to the office for the grant program and related costs. The grant program
repeals on July 1, 2028.
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