The bill creates the stimulus investments in reskilling, upskilling, and next-skilling workers program (program) as an initiative of the state work force development council (state council) to facilitate training for unemployed and underemployed workers in the state during times of substantial unemployment, defined as a statewide unemployment rate that exceeds 4%. The bill appropriates $25 million for the program and directs the state council to use the money to support individuals in need of:
- Reskilling, which supports unemployed and underemployed workers to change industries in order to return to work or obtain more appropriate work based on their skills;
- Upskilling, which assists workers in increasing skill levels to retain or advance in their employment; or
- Next-skilling, which supports workers in developing future-ready skills necessary for employment in the twenty-first century.
The state council, in collaboration with the department of labor and employment, is directed to allocate funding to local work force development areas and to develop a grant program to award grants to other partners to provide reskilling, upskilling, and next-skilling supports to eligible individuals for up to 13 months.
Starting in 2022, as part of the Colorado talent report, the state council is directed to report on the activities and outcomes resulting from the program. The program repeals on June 30, 2024.
(Note: This summary applies to this bill as introduced.)