The act creates the industry infrastructure fund to pay for the program. The fund consists of $900,000 transferred over 3 years from the general fund and any other gifts, grants, or donations that the council receives. Use of grant moneys is subject to certain restrictions.
The council must prepare a report by January 1 of each year through 2020 that includes information about any eligible nonprofit entity, identified industry sectors, a list of competencies in each sector, uses of an eligible nonprofit entity's committed private funding, the number of industry apprentices that utilized the industry-defined competencies, and any other measurable outcomes the council deems appropriate. The report must be included in the Colorado talent report.
(Note: This summary applies to this bill as enacted.)