KRS 154.12-207: Grants-in-aid -- Skills training investment credit -- Maximum amount -

- Application -- Approval -- Training.

(1) The corporation may, subject to appropriation from the General Assembly or from

funds made available to the corporation from a ny other public or private source,

provide grants-in-aid to qualified companies, not in excess of five hundred thousand

dollars ($500,000) per grant-in-aid. Such grants-in-aid shall be used exclusively for

programs which are consistent with the provisions of this chapter.

(2) The corporation may, in accordance with KRS 154.12 -204 to 154.12 -208, award a

skills training investment credit to an approved company. The amount of the skills

training investment credit awarded by the corporation shall be an amount n ot to

exceed fifty percent (50%) of the amount of approved costs incurred by the

approved company in connection with its program of occupational upgrade training

or skills upgrade training, the credit amount not to exceed four thousand five

hundred dollars ($4,500) per trainee for an approved company in a heritage county

and three thousand five hundred dollars ($3,500) per trainee for an approved

company located in any other county, and, in the aggregate, not to exceed five

hundred thousand dollars ($500,00 0) for each approved company per fiscal year.

The corporation shall only approve one (1) application per fiscal year for each

approved company.

(3) To apply for a grant -in-aid or a skills training investment credit, a qualified

company shall submit an app lication to the Bluegrass State Skills Corporation

before commencing its program of skills upgrade or occupational upgrade training.

Each application shall contain information the corporation requires, including but

not limited to:

(a) A proposal for a pro gram of skills upgrade training, occupational upgrade

training, and education;

(b) A description of each component of the proposed training program and the

number of employee training hours requested; and

(c) A statement of the total anticipated costs and expenses of the program,

including a breakdown of the costs associated with equipment, personnel,

facilities, and materials.

(4) Approval of the grant-in-aid and skills training investment credit application by the

board shall be based upon the following criteria:

(a) The program must be within the scope of KRS 154.12-204 to 154.12-208;

(b) Participants in the program must qualify as an employee as defined by KRS

154.12-204;

(c) The program must involve an area of skills upgrade training, occupational

upgrade training, and education which is needed by a qualified company and

for which a shortage of qualified individuals exists within the

Commonwealth; and

(d) The grant-in-aid and skills training investment credit must be essential to the

success of the program as the resources are inadequate to attract the technical

assistance and financial support necessary from a qualified company.

(5) After a review of applications for grant-in-aid and skills training investment credits,

the corporation may designate the qualified company as an approved company and

approve the maximum amount of grants and skills training investment credits the

approved company is eligible to receive. The maximum amount of skills training

investment credits approved for all qualified companies by the corporation shall not

exceed two million five hundred thousand dollars ($2,500,000) for each fiscal year.

Skills training investment credits that remain unallocated by the corporation at the

end of its fiscal year shall lapse and shall not be carried forward to a new fiscal

year.

(6) The approved company shall complete all programs of skills upgrade training or

occupational upgrade training within t hree (3) years from the date of approval by

the corporation and shall certify the completion of these programs to the

corporation. Once they are completed and certified and all required documentation

is provided and received by the corporation, the corpora tion shall disburse the grant

funds or notify the approved company of the final authorized skills training

investment credit.