S. 2306: STEM Restoring Employment Skills through Targeted Assistance, Re-entry, and Training Act

The STEM Restoring Employment Skills through Targeted Assistance, Re-entry, and Training Act (STEM RESTART Act) aims to help mid-career workers return to or transition into the STEM (Science, Technology, Engineering, and Mathematics) workforce. Here are the main components of the bill:

Purpose of the Bill

• The bill focuses on expanding opportunities for mid-career skilled workers who are unemployed or underemployed, especially those from rural areas.
• It seeks to provide high-quality internships or returnships in STEM fields that lead to positions and compensation above entry level.

Creation of Grants

• Establishes a grant program managed by the Secretary of Labor, aimed at small- and medium-sized STEM businesses to support returnship programs.
• Grants will be awarded on a competitive basis to eligible entities to implement these returnship opportunities.

Eligibility for Grants

• Eligible entities include small-sized enterprises (50 to 499 employees) and medium-sized enterprises (500 to 10,000 employees) that have significant operations in the U.S. and are in-demand STEM fields.
• Entities must not be involved in bankruptcy proceedings to qualify for grants.

Details of the Returnship Programs

• Returnship programs should provide educational training and hands-on work experiences above entry level.
• Participants must receive payments, benefits, and support leading to full-time employment.
• The programs should last a minimum of 10 weeks.

Funding Amounts

• Grants for small-sized enterprises will range from $100,000 to $1,000,000 per year.
• Grants for medium-sized enterprises may range from $500,000 to $5,000,000 per year.

Use of Grant Funds

• Funds can be used for participant compensation, training, mentorship, and support services during the returnship.
• Up to 20% of the funds can be allocated for compensating existing employees who support the returnship program.

Reporting and Evaluation

• Entities receiving grants will be required to submit annual reports that provide data on participant demographics, transitions to full-time employment, and program effectiveness.
• The Secretary will evaluate this data to identify best practices for effective implementation of returnships.

Authorization of Funds

• The bill authorizes an appropriation of $50 million for each fiscal year from 2026 through 2030 to fund these programs.

Relevant Companies

• None found