There is established a Job Opportunity Bank for the purpose of providing grants and other forms of financial assistance to increase job opportunities for low-income District residents to upgrade their job skills and provide customized skills training for new and incumbent workers employed by District employers. The Job Opportunity Bank shall be subject to the general policy guidance and direction of the Workforce Investment Council. The Workforce Investment Council shall serve in an advisory capacity to the Mayor and the Director in matters pertaining to the operation and administration of the Job Opportunity Bank. The Job Opportunity Bank shall be funded by annual appropriations. The funds shall be administered by the Deputy Mayor for Planning and Economic Development. The Deputy Mayor for Planning and Economic Development may fund applications for grants or other assistance as may be recommended by the Director under the provisions of this chapter.
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