(2) The amount of reimbursement shall be 50 percent of the actual cost of the investment, such reimbursement not to exceed $2,500 per student who completes the agreed upon course of study. In the event that a student drops out of the program through no fault of the employer, the Department of Education may reimburse the employer for costs incurred to that point.
(3) Eligible employers may elect to receive education service credits in lieu of the reimbursement provided in this section. The amount of the education service credit shall equal the value of the potential reimbursement on a dollar-for-dollar basis. Education service credits may be used to purchase educational services provided to the employer by school districts, education service districts, community colleges, public universities listed in ORS 352.002 or private providers approved by the Department of Education.
(4) Employers who terminate students without the concurrence of the school forfeit all claim to reimbursements or education service credits earned under this section.
(5) The total amount of employer reimbursement allowable under this section to all employers shall not exceed the amount allocated therefor biennially from the Administrative Services Economic Development Fund.
(6) Reimbursements allowed under this section must first be certified with regard to eligibility and availability of funds pursuant to a method established by the Department of Education in consultation with the Bureau of Labor and Industries. [1993 c.765 §32; 2013 c.768 §138]