Section 620.474

Title XL ADDITIONAL EXECUTIVE DEPARTMENTS

Chapter 620

Effective - 28 Aug 2001, 2 histories, see footnote   (history) 

  620.474.  Basic industry retraining program, purpose, funding — qualified industries — rules and regulations, factors to be considered. — 1. The department shall establish a basic industry retraining program, the purpose of which is to provide assistance for industries in Missouri for the retraining and upgrading of employees' skills which are required to support new investment. Such program shall be operated with appropriations made by the general assembly from the fund.

  2. Assistance under the basic industry retraining program may be made available for industries in Missouri which make new investments without the creation of new employment.

  3. The department shall issue rules and regulations governing the awarding of funds administered through the basic industry retraining fund. When promulgating these rules and regulations, the department shall consider such factors as the number of jobs in jeopardy of being lost if retraining does not occur, the amount of private sector investment in new facilities and equipment, the ratio of jobs retained versus investment, the cost of normal, ongoing training required for the industry, the economic need of the affected community, and the importance of the industry to the economic development of Missouri.

­­--------

(L. 1986 S.B. 628 § 3, A.L. 2001 S.B. 500)