(1) "Board" means the Employability to Careers Program Board created in Section 63J-4-702.

(2) "Education, employability training, and workforce placement program" means a pay-for-success program that helps adults earn a high school diploma and obtain a full-time job with benefits in a career path through integrated employability skills development.

(3) "Eligible participant" means an individual who at the time of enrollment in an education, employability training, and workforce placement program: (a) is between 18 and 50 years of age; (b) does not have a high school diploma or the equivalent; (c) is enrolled in a public assistance program; and (d) is unemployed or underemployed.

(a) is between 18 and 50 years of age;

(b) does not have a high school diploma or the equivalent;

(c) is enrolled in a public assistance program; and

(d) is unemployed or underemployed.

(4) "Eligible program provider" means an organization or group of organizations with the demonstrated capability of operating an education, employability training, and workforce placement program.

(5) "Employability programs and services" means programs that assist adults in developing job skills, attaining education, obtaining employment, increasing income, and realizing self-sufficiency.

(6) "Employability skills" means technical, professional, and life skills that are necessary for success in the labor market, which may include verbal and written communication, time management, problem solving, professionalism, and teamwork.

(7) "Fiscal intermediary" means a nonprofit community foundation located in the state that establishes and manages charitable funds and that has the necessary experience to coordinate the funding and management of a results-based contract and related program.

(8) "Multitiered system of supports" means a systemic, continuous improvement framework in which data-based problem solving and decision making is practiced for supporting participants.

(9) "Performance outcome measure" means an education or workforce placement outcome for an eligible participant, including earning an accredited high school diploma, employment placement, job retention, and wage advancement within a career path, which results in a demonstrated benefit to the state through increased tax revenue or lower state expenditures for public assistance programs.

(10) "Programmatic intermediary" means a nonprofit entity or academic institution that has the necessary experience in results-based financing and evidence-based policy to: (a) validate a feasibility analysis of an eligible program provider; (b) structure the terms and conditions of results-based contracts by developing cost-benefit financial models, performance outcome measures, payment schedules, and performance thresholds; and (c) raise the private investment capital necessary to fund program services related to a results-based contract.

(a) validate a feasibility analysis of an eligible program provider;

(b) structure the terms and conditions of results-based contracts by developing cost-benefit financial models, performance outcome measures, payment schedules, and performance thresholds; and

(c) raise the private investment capital necessary to fund program services related to a results-based contract.

(11) "Restricted account" means the Employability to Careers Program Restricted Account created in Section 63J-4-703.

(12) "Results-based contract" means a contract entered into between the board, a fiscal intermediary, and an eligible program provider that will result in repayment to the fiscal intermediary if certain performance outcome measures are achieved.