Section 11 Workforce Investment Trust Fund and Economic Development Trust Fund Reforms 3
Said section 18 of said chapter 23N, as so appearing, is hereby further amended by striking out subsection (b) and inserting in place thereof the following subsection:-
(b) The fund shall be administered by the secretary of economic development in consultation with the secretary of labor and workforce development. Money in the fund may be (i) expended to support existing workforce development programs administered by state agencies or quasi-public agencies that develop and strengthen workforce opportunities for low-income communities or unemployed or underemployed individuals or vulnerable youth and young adults in the commonwealth; (ii) expended to support internships, apprenticeships or other work-based learning programs, or programs that provide vocational or professional training to address workforce skills gaps or workforce readiness in priority economic sectors or (iii) competitively granted to eligible recipients described in subsection (c).
Summary
This section, together with related sections, authorizes the Secretary of Economic Development, in consultation with the Secretary of Labor and Workforce Development, to transfer funds from the Workforce Investment Trust Fund to the Economic Development Trust Fund and allows for more flexible use of the Workforce Investment Trust Fund.