(1) The Career-Readiness and Dual-Credit Education Grant Program is established. The program shall be administered by the Coordinating Commission for Postsecondary Education. The commission, in consultation with the State Department of Education, the Department of Labor, and any advisory committee established by the commission for such purpose, shall:

(a) Create and establish teacher education pathways enabling the instruction of dual-credit courses and career and technical education courses;

(b) Correlate and prioritize teacher education pathways with Nebraska workforce demand;

(c) Establish a grant program beginning on or after July 1, 2024, to distribute money from the Excellence in Teaching Cash Fund to teachers enrolled in education pathways leading to qualification to teach dual-credit courses and career and technical education courses;

(d) Establish a directory of available teacher education pathways in Nebraska identified by sequence and location; and

(e) On December 31, 2025, and each December 31 thereafter, electronically submit an annual report on grants awarded pursuant to the Career-Readiness and Dual-Credit Education Grant Program to the Clerk of the Legislature. The report shall include, but not be limited to, the number and amount of grants awarded, the postsecondary educational institutions attended by grant recipients, and information regarding the completion of instructor requirements to teach dual-credit courses and career and technical education courses.

(2) The Coordinating Commission for Postsecondary Education may adopt and promulgate rules and regulations to carry out the Career-Readiness and Dual-Credit Education Grant Program.