ID S1332

Establishes the Industry Partner Fund in the state treasury, funded through legislative transfers, appropriations, and other sources, to be administered by the Idaho Technical College Leadership Council (TCLC) and the division of professional-technical education administrator.

Authorizes professional-technical colleges to partner with regional industry partners to provide rapid-response training addressing gaps in skills and abilities, with fund proposals requiring approval from TCLC and administrator based on regional demand, labor market information, wage thresholds, and employer commitment.

Requires employers to demonstrate commitment through promissory cash or in-kind contributions to project costs, with matching proposals receiving highest consideration and preference given to proposals involving multiple employers and significant worker impact.

Mandates the TCLC and administrator notify colleges within 30 days whether proposals are approved or rejected.

Requires annual reporting by February 1 to the joint finance-appropriations committee, legislative services office, governor's division of financial management, and education committees detailing submitted proposals, approved proposals, expenditures, and other requested information.