Establishes the aerospace tax incentive accountability act.

Redirects certain business and occupation tax incentives from the aerospace industry to: (1) Encourage job growth at small businesses in the state;

(2) Increase educational opportunities by providing additional funding for the state need grant; and

(3) Provide opportunities for career and technical education.

Creates the worker readjustment program which will be administered by the employment security department.

Requires the program to provide adjustment assistance to aerospace workers who are unemployed when employment at a significant aerospace firm goes below the employment baseline.

Creates the small business tax credit account, the career and technical education account, and the worker readjustment account.