The bill establishes a new framework for funding registered apprenticeship and preapprenticeship programs in Florida by creating Section 446.033 of the Florida Statutes. It aims to create a transparent and equitable funding system that encourages collaboration among trainees, employers, and educational institutions. The bill introduces a funding formula based on student enrollment, on-the-job training hours, and related technical instruction hours, with annual adjustments based on economic indicators. Additionally, it allows for extra funding for programs that serve high-demand occupations.

Moreover, the bill amends Section 1003.493 to clarify how local educational agencies should manage funding when partnering with private providers for apprenticeship programs. It outlines the distribution of funds for related technical instruction, on-the-job training, and pass-through services, while requiring local educational agencies to report their funding responsibilities and associated costs to the Department of Education. The State Board of Education will adopt rules to implement the funding formula, and the bill mandates the collection and reporting of specific data related to these programs. An annual report will be submitted starting August 1, 2026, detailing funding received, student participation, and collaboration with private providers, enhancing transparency and accountability in apprenticeship program management. The act is set to take effect on July 1, 2025.