SB24-050 Summary

• Creates the Colorado Workforce Demonstration Grants Pilot Program administered by the Office of Economic Development to provide grants to eligible workforce training providers that offer proven or evidence-informed training programs to eligible participants

• Establishes grant award priorities: first priority to providers implementing proven programs or practices, second priority to providers implementing evidence-informed programs or practices, and allocation of one-third of appropriated funds to qualified intermediaries

• Eligible participants are Colorado residents who are unemployed, part-time/temporary employees, or have income at or below 250% of federal poverty line; eligible providers are nonprofits or apprenticeship programs in good standing that focus on in-demand industries with documented workforce shortages

• Requires grant recipients to report program enrollment, completion, credential attainment, and employment outcomes; office must conduct annual evaluation of long-term wage outcomes with anonymized and aggregated data, submitted to legislative committees

• Pilot program repeals effective July 1, 2029, with remaining unexpended funds transferred to the general fund