(a)  Notwithstanding any laws to the contrary, any credit allowed under this chapter for hard construction costs valued at ten million dollars ($10,000,000) or more shall include a requirement that any contractor and subcontractor working on the project shall have an apprenticeship program as defined herein for all apprenticeable crafts that will be employed on the project at the time of bid. The provisions of this section shall only apply to contractors and subcontractors with five (5) or more employees. For purposes of this section, an apprenticeship program is one that is registered with and approved by the United States department of labor in conformance with 29 C.F.R. part 29 and 29 C.F.R. part 30.

(b)  The department of labor and training must provide information and technical assistance to affected governmental, quasi-governmental agencies, and any contractors awarded projects relative to their obligations under this statute.

(c)  The department of labor and training may also impose a penalty of up to five hundred dollars ($500) for each calendar day of noncompliance with this section, as determined by the director of labor and training. Mere errors and/or omissions shall not be grounds for imposing a penalty under this subsection.

(d)  Any penalties assessed under this statute shall be paid to the general fund.

(e)  To the extent that any of the provisions contained in this section conflict with the requirements for federal aid contracts, federal law and regulations shall control.