(1) Employers applying for job training reimbursement grants under the Customized Job Training Act shall apply to the Department of Economic Development. The department shall provide job training reimbursement grants for job training programs for jobs that are net new jobs or that result in a net increase in wages per employee. The job training reimbursement grants shall be in proportion to the committed number of net new jobs created or committed net increase in wages per employee. The amount of each grant and number of grants awarded shall be determined by the department based upon available funding.

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(2) The department shall create a job training reimbursement grant application, have authority to approve applications, and authorize the total amount of job training reimbursement grants expected to be awarded as a result of the training if the Director of Economic Development is satisfied that the plan in the application defines training that meets the eligibility requirements.

(3) The department shall submit an annual report electronically to the Appropriations Committee of the Legislature that includes the total number of job training reimbursement grants awarded, the total dollar amount of job training reimbursement grants awarded and to whom, the total expenditures made in administering the Customized Job Training Act, the number of individuals trained, the average wage of net new jobs, and a summary of the training provided.