The bill amends section 122.1710 and introduces new sections 122.1712 and 122.1713 to enhance the Individual Microcredential Assistance Program (IMAP) and establish a platinum provider program for eligible training providers. Key changes include a revised definition of "fiscal year" and a requirement for the director of development to ensure that each approved training provider receives reimbursement at least once per fiscal year. Training providers must apply for participation before the fiscal year begins, and the bill outlines specific criteria for application approval, emphasizing the commitment to serve low-income and unemployed individuals.

The newly created platinum provider program allows approved training providers to receive advance payments for training costs related to microcredentials, contingent upon demonstrating a high success rate in credential attainment. The bill also establishes a framework for state institutions of higher education to participate in the program, requiring them to offer a minimum of two in-person and one online training program. It details the conditions for maintaining platinum status, including the potential for revocation if providers fail to meet requirements, and specifies the reimbursement process, including conditions for refunds based on participant success rates. The existing section 122.1710 is repealed, and the act is officially named the Platinum Providers Act.

Statutes affected:
As Introduced: 122.1710