Skilled Enlisted Reserve Training Act

Skilled Enlisted Reserve Training Act - Directs the Secretary of each military department to establish a skilled enlisted reserve training program to obtain adequate numbers of enlisted members with critical technical skills.

Permits each Secretary to enter into agreements with a qualified person under which the Secretary agrees to provide educational assistance in a technical field in exchange for that person's agreement to perform either active or reserve military service for a period of time based on the number of months in which such educational assistance is provided.

Provides for payment by the Secretary of a stipulated amount (with a maximum limit) per month for each month of the program. Authorizes the continuance of such payments until the member is awarded an associate degree from an accredited institution (but not to exceed a period of more than 24 months). Sets forth eligibility requirements. Requires accepted members to complete basic training before beginning technical training.

Sets forth the penalties for noncompliance with training requirements, including possible reimbursement of educational assistance.

Prohibits the Secretary concerned from entering into an agreement with a member unless the courses and the educational institution have been approved by the Administrator of Veterans Affairs.

Requires such educational assistance to be provided through the Veterans Administration, under agreements between the Secretaries of Defense and Transportation and the Administrator of Veterans Affairs.

Directs the President to make an annual report to the Congress concerning such program.

Authorizes appropriations.