Customized Training Flexibility Act

Customized Training Flexibility Act - Amends the Workforce Investment Act of 1998 to increase flexibility for customized training.

Requires the employer to pay a portion of the cost of such customized training, but eliminates the requirement that such portion be at least 50 percent.

Provides that an eligible youth under the Act may be one who has been determined to be eligible for free meals under the national school lunch program (or one who is a low-income individual, as under current law).

Provides that an eligible adult or dislocated worker participating in training (except for on-the-job training) under the Act shall be deemed to be in training with the approval of the State agency for unemployment compensation purposes.

Authorizes local boards that represent local areas where the unemployment rate is at least ten percent to transfer a greater maximum percentage of certain funds between adult employment and training activities and dislocated worker employment and training activities (35 percent, rather than the 20 percent maximum for other local boards, while still requiring the State Governor's approval for such transfers).