CO HB1264

Creates two new programs funded with federal American Rescue Plan Act (ARPA) money to address COVID-19 pandemic job losses: the "Investments in Reskilling, Upskilling, and Next-Skilling Workers Act" ($25 million) and the "Work Force Innovation Act" ($35 million) for the 2021-22 fiscal year.

Establishes the Workers, Employers, and Workforce Centers Cash Fund receiving $200 million from federal ARPA funds and $25 million from the general fund to support workforce development activities without federal law limitations.

Allocates $10 million to postsecondary career and technical education providers to expand equipment, facilities, and instruction capacity in high-demand job areas, and $5 million to adult education and literacy programs.

Allows individuals to receive up to 13 months of support through reskilling/upskilling programs including career counseling, tuition, employer training, equipment, and transportation to obtain industry-recognized credentials.

Creates grant programs through local workforce development boards and statewide innovation initiatives to support employers in training development, build skills-based hiring practices, and increase participation by underserved populations including communities of color, people with disabilities, and other marginalized groups.