(a) The Commissioner shall have the authority to adopt, amend, or rescind rules and regulations and to take such other action as deemed necessary or suitable in order to establish a work-sharing program that provides employers with an alternative to layoffs.

(b) Any work-sharing program so established shall:

(1) Allow employers to voluntarily reduce employees’ hours by 10 to 60 percent in lieu of layoffs and provide employees with a corresponding prorated share of unemployment benefits;

(2) Conform to the provisions of the definition of short-time compensation program provided in 26 U.S.C. Section 3306(v) of the Federal Unemployment Tax Act; and

(3) Include such provisions as are necessary to qualify for available federal reimbursement of benefits and federal short-time compensation administrative grants available, including, but not limited to, any funds available under Title II, Subtitle A of the CARES Act (Public Law 116-136), as amended.