Adds to existing law to establish the Industry Partner Fund and related provisions, to grant rulemaking authority and to provide reporting requirements.

This bill provides the basis to set up an Industry Partner Fund to be used by professional-technical colleges and industry to provide a rapid response to gaps in skills and abilities by making funds available to provide timely access to relevant college credit and noncredit training and support projects. Use of these funds require an industry demonstrated commitment which include a promissory contribution, either in terms of cash or in-kind contribution to the project cost with highest consideration given to match proposals.