Idaho Code 72-1206 – In-Demand Careers Fund
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(1) There is hereby established in the state treasury the in-demand careers fund.
(2) Moneys in the in-demand careers fund are subject to legislative appropriation and shall consist of the following:
(a) Legislative appropriations;
(b) Donations and contributions made to the fund;
(c) Interest earned on idle moneys in the fund;
(d) Moneys transferred pursuant to section 63-3638(17), Idaho Code;
(e) Moneys reverted or repaid to the fund pursuant to section 72-1205, Idaho Code; and
(f) Moneys transferred pursuant to section 33-4602(14), Idaho Code.
Terms Used In Idaho Code 72-1206
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories; and the words "United States" may include the District of Columbia and territories. See Idaho Code 73-114
(3) The in-demand careers fund shall be used to award grants as outlined in section 72-1205, Idaho Code.
(4) When the available appropriation in a fiscal year exceeds participants, the council may use excess moneys as follows:
(a) Up to ten million dollars ($10,000,000) of the remaining appropriation may be used to provide enhanced grant funding to either eligible students or eligible adult learners based upon the following conditions:
(i) If potential awards from the council exceed available funding from the enhanced grants, awards shall be prioritized first based on the pursuit of in-demand careers; and
(ii) If, following the prioritization provided for in subparagraph (i) of this paragraph, additional moneys remain for awards, prioritization shall then be based on financial need.
(b) The remaining appropriation shall be retained in the fund and be subject to legislative appropriation in subsequent legislative sessions for the purposes of expanding in-demand career training opportunities.
(5) By January 1 each year, the council shall report sufficient data to the legislature regarding:
(a) The number and demographics of eligible students applying for grants;
(b) The number and type of eligible institutions approved by the council;
(c) The list of in-demand careers prioritized by the council;
(d) The number of grants awarded and demographics of participants; and
(e) Data to demonstrate the effectiveness of the program, including but not limited to program completion rates, satisfactory academic progress, job placement rates, and retention rates of participants in Idaho upon program completion.