(a) The Commission shall allocate ten (10%) percent of the moneys from the Casino Revenue Fund earmarked to youth related programs to assist in the partial funding of the following job training programs:
(1) for financial assistance to help casino employees to obtain their G.E.D. and further education, to include but not limited to college education;
(2) for financial assistance for casino employees to obtain certification in the field of Hotel/Hospitality Management at the St. Croix Vocational School.
(3) for fifty (50%) percent of the budgetary needs of the Jobs for America’s Graduates Virgin Islands program, its purpose being to assist at-risk and disadvantaged youth in graduating from high school and thereafter finding and keeping quality jobs, through a territory supported school-to-work transition program.
(b) The Commission shall make available to the casino licensee half the cost of each employee participating in the GED or Hotel/Hospitality programs. This is to be matched by the casino licensee for each of its employees participating in any of the programs.
(c) The GED and Hotel/Hospitality programs shall be instituted by each casino licensee prior to the beginning of the casino licensee's operation in St. Croix and the casino licensee shall notify their employees and/or prospective employees of the existence of the program on an ongoing basis.
(d) All casino employees and casino key employees, as defined in this chapter, having no vocational training and/or high school diploma/GED equivalent, shall as a requirement of maintaining their employment, enroll in a vocational training program in the Hotel/Hospitality Management School of the United States Virgin Islands or an equivalent institution within six months of becoming employed in a casino hotel licensed to do business in the Virgin Islands.
(e) After the second full year of a casino hotel commencing operations in the Virgin Islands, all casino employees and casino key employees shall be holders of vocational training certificates or a high school diploma.
(f) Not less than five (5%) percent of the total monies allotted to education shall be devoted to the establishment of an African and Caribbean Studies program at the University of the Virgin Islands for persons desirous of attaining bachelors, masters or doctorate degrees in the fields or related areas; and to further provide that monies may also be used to provide funds for persons desirous of pursuing a bachelors, masters, or doctorate degree in the following areas of study: African and Caribbean Studies, Math; Science; Architecture, or Medicine.
(g) Initial moneys for the funding of the programs are to be borrowed from any available fund from which the Governor is authorized to borrow monies, for a period of two (2) years if needed. Repayment at the rate of five (5) percent shall begin as the casino revenue fund becomes viable; repayment shall be completed no later than five years after the initial loan was procured.