Creates the Louisiana Jobs Now Fund for the purpose of funding postsecondary education degree and certificate production in high-demand fields (EN SEE FISC NOTE SD EX See Note)
Impact
The newly created fund plays a significant role in state law by providing additional resources to higher education institutions, thereby improving their capacity to produce graduates in essential fields. It allows for the distribution of funds based on each institution's previous performance in degree production, thereby incentivizing educational institutions to enhance their offerings in relevant fields. The fund also mandates that institutions secure a matching contribution from private entities, thereby fostering partnerships between educational institutions and industry, which can boost the overall workforce development strategy in the state.
Summary
House Bill 144 establishes the 'Louisiana Jobs Now Fund', a special fund dedicated to enhancing degree and certificate production in high-demand fields through Louisiana's public postsecondary education institutions. The fund's focus aims to address the state's current and future workforce needs, particularly in areas classified as four-star or five-star jobs according to the Louisiana Workforce Commission's criteria. By targeting funding towards science, technology, engineering, and math (STEM) programs, the bill aligns educational outcomes with economic demands.
Sentiment
Overall sentiment towards HB 144 appeared positive among the legislative members who recognized the need for a skilled workforce to boost the state's economy. The bill received unanimous support during the voting process, indicating a consensus on the importance of investing in education and workforce training. Stakeholders, including educational institutions and industry representatives, expressed optimism about the potential benefits of the fund, viewing it as a proactive step towards aligning educational outcomes with job market needs.
Contention
Despite the general support for the bill, there are notable concerns regarding the sustainability of funding and the effectiveness of the proposed matching contributions from private sectors. Critics may argue that relying on private funding could lead to disparities in resource allocation among institutions, favoring those with better access to industry partnerships. Moreover, the requirement for a twenty-five percent match could strain smaller institutions that may lack the financial capacity to secure such contributions, thus highlighting a potential equity issue within the broader educational landscape.
Creates the Louisiana Jobs Now Fund for the purpose of funding postsecondary education degree and certificate production in high-demand fields (EG +$21,000,000 SD RV See Note)
Creates the Louisiana Cybersecurity Talent Initiative Fund for the purpose of funding degree and certificate programs in cybersecurity fields and creates the Cybersecurity Education Management Council to advise relative to the fund. (8/1/20) (EN SEE FISC NOTE SD EX See Note)
Creates the Louisiana Cybersecurity Talent Initiative Fund for the purpose of funding degree and certificate programs in cybersecurity fields and the Cybersecurity Education Management Council to advise relative to the fund (RE INCREASE SD EX See Note)
Creates and provides for Louisiana Educational Workforce Training Fund to provide opportunities for educational training in the Louisiana Community and Technical College System. (gov sig) (EN SEE FISC NOTE SD EX See Note)
Provides for the Postsecondary Inclusive Education Fund for funding programs for students with intellectual disabilities. (gov sig) (EN SEE FISC NOTE GF EX See Note)
Creates the Louisiana Jobs Now Fund for the purpose of funding postsecondary education degree and certificate production in high-demand fields (EG +$21,000,000 SD RV See Note)
Creates and provides for Louisiana Educational Workforce Training Fund to provide opportunities for educational training in the Louisiana Community and Technical College System. (gov sig) (EN SEE FISC NOTE SD EX See Note)
Creates the Louisiana Cybersecurity Talent Initiative Fund for the purpose of funding degree and certificate programs in cybersecurity fields and creates the Cybersecurity Education Management Council to advise relative to the fund. (8/1/20) (EN SEE FISC NOTE SD EX See Note)
Creates the Louisiana Cybersecurity Talent Initiative Fund for the purpose of funding degree and certificate programs in cybersecurity fields and the Cybersecurity Education Management Council to advise relative to the fund (RE INCREASE SD EX See Note)
Establishes the Louisiana Tax Institute within the legislature and provides for the membership and the terms of membership of the governing board (EG SEE FISC NOTE GF EX See Note)