Appropriates $250 Million from the 2013-14 general fund for the creation of the Career Pathways State Revolving Fund, and establishes the California Career Pathway State Investment Committee as the body for allocating funds. The Career Pathways State Revolving Fund would be used to support career pathway operation through grants and pay-for-performance contracts to partnerships of business entities and local educational agencies, community college districts, or consortia thereof. Priority for funds would be given to programs serving students in school districts with high dropout rates and school or college districts with unemployment rates higher than the state average, in order to support workforce development and high school completion in those areas. Funds would specifically be targeted to fund work-based specialists to connect students and employers.
The bill also establishes or authorizes:
(1) Pay-for-Performance Pilot Project. Authorizes the Career Pathways State Investment Committee to spend up to $10 million for a pay-for-performance career pathways pilot projects increase attainment of specified college and career-ready outcomes.
(2) Tax Credit. Authorizes a tax credit for businesses investing in academic and work-based learning opportunities for students in partnership with public schools.
(3) Trust Fund. Establishes a Career Pathways Investment Trust Fund in each school and community college district, to finance specified career pathway program costs.