Bill > SB92

This bill, the Rapid Workforce Development Act, aims to quickly create or expand job training and education programs within New Mexico's higher education institutions to prepare workers for new or expanding businesses in the state. It establishes a Rapid Workforce Development Board, comprised of the Secretaries of Economic Development, Higher Education, and Workforce Solutions (or their designees), which will be administratively linked to the Economic Development Department. A dedicated Rapid Workforce Development Fund will be created in the state treasury to hold appropriations and other money for these programs, with legislative approval required for its use. The board's duties include identifying employers looking to expand or establish operations in New Mexico, assessing their workforce needs and the required skills, and then determining if funds should be used to support training programs at state post-secondary institutions to meet those needs, requiring unanimous agreement for such authorization. The board is scheduled to terminate on July 1, 2023, but will continue to operate until July 1, 2024, at which point the Act will be repealed, with the bill taking effect on July 1, 2016.