Sec. 9. An agreement entered into under section 7(6) of this chapter by the governor's workforce cabinet and an industry collaboration organization must require the industry collaboration organization to do the following:
(1) Collaborate with industry sector partners at the state and regional levels and coordinate periodically with:
(A) the governor's workforce cabinet;
(B) training providers; and
(C) other stakeholders;
in carrying out the activities of the industry collaboration organization under this chapter.
(2) Agree to deposit all contributions in a separate account of the industry collaboration organization.
(3) Agree to provide written substantiation to taxpayers for each contribution made to the industry collaboration organization, which must include certification that the contribution will be used by the industry collaboration organization only for purposes of this chapter.
(4) Beginning not later than the third year following the date the industry collaboration organization is certified under section 8 of this chapter, distribute annually not less than seventy-five percent (75%) of the total amount of contributions for one (1) or more purposes set forth in section 10 of this chapter.
(5) Use not more than ten percent (10%) of the total amount of contributions for administrative costs, including costs for:
(A) financial audits for an industry collaboration organization; and
(B) reimbursements for reasonable costs incurred by members of the board of directors of an industry collaboration organization in carrying out the activities of the industry collaboration organization under this chapter.
(6) Prohibit a taxpayer from directing a contribution to a particular student or a particular training provider.
(7) Allow a taxpayer to designate:
(A) a specific purpose for which the taxpayer's contribution must be used; and
(B) a specific school or school district for which the taxpayer's contribution must be used;
under section 10 of this chapter.
(8) Agree to provide a list of the names and addresses of the board members, officers, and employees with managerial authority of the industry collaboration organization.
(9) Conduct criminal background checks on all the industry collaboration organization board members, officers, and employees, and exclude from employment or governance any individual who might reasonably pose a risk to the appropriate use of contributed funds.
(10) Make the reports required by this chapter.
As added by P.L.143-2019, SEC.29.