(a) The fund makes available financial assistance in the form of grants for job creation and training programs approved by the Commissioner of Economic Development that support efforts to recruit, hire, promote, retain, develop and train a diverse and inclusive workforce as production company employees in the motion picture and television production and post-production industries within the State of New York including, but not limited to, those programs that promote development in economically distressed areas of the State.

(b) The grant assistance provided in connection with this Part shall be taken from the Empire State Entertainment Diversity Job Training Development Fund pursuant to section 24(e) and 31(f) of the Tax Law.