1. (a) The executive of a unit may by resolution or executive order establish a workforce retention and recruitment program for the purposes of recruiting and retaining individuals who will satisfy the current and future workforce needs of the unit's employers or provide substantial economic impact to the unit, including providing incentives in the form of grants or loans to qualified workers.

2. (b) A program must require each qualified worker who receives a grant or loan from the fund to enter into an incentive agreement with the workforce fund managers. An incentive agreement must include the following terms:

   1. (1) The duration of time each qualified worker agrees to reside within the unit following the date specified in the agreement.

   2. (2) A penalty clause if a qualified worker fails to fulfill the terms of the agreement.

      However, the workforce fund managers may waive a penalty under subdivision (2) regarding any part of a grant or loan that the qualified worker may have received and that is due under the incentive agreement.

As added by P.L.135-2022, SEC.22.