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To amend sections 184.02 and 3345.32 and to enact | 1 |
sections 184.30, 184.31, 184.32, 184.33, 184.34, | 2 |
and 184.35 of the Revised Code to establish the | 3 |
Third Frontier Pilot Forgivable Loan Program for | 4 |
graduate students. | 5 |
Section 1. That sections 184.02 and 3345.32 be amended and | 6 |
sections 184.30, 184.31, 184.32, 184.33, 184.34, and 184.35 of the | 7 |
Revised Code be enacted to read as follows: | 8 |
Sec. 184.02. (A) In addition to the powers and duties under | 9 |
sections 184.10 to 184.20 of the Revised Code, the third frontier | 10 |
commission may perform any act to ensure the performance of any | 11 |
function necessary or appropriate to carry out the purposes of, | 12 |
and
exercise the powers granted under, | 13 |
14 | |
do any of the following: | 15 |
(1) Adopt, amend, and rescind rules under section 111.15 of | 16 |
the Revised Code for the administration of any aspect of its | 17 |
operations; | 18 |
(2) Adopt bylaws governing its operations, including bylaws | 19 |
that establish procedures and set policies as may be necessary to | 20 |
assist with the furtherance of its purposes; | 21 |
(3) Appoint and set the compensation of employees needed to | 22 |
carry out its duties; | 23 |
(4) Contract with, retain the services of, or designate, and | 24 |
fix the compensation of, such financial consultants, accountants, | 25 |
other consultants and advisors, and other independent contractors | 26 |
as may be necessary or desirable to carry out its duties; | 27 |
(5) Solicit input and comments from the third frontier | 28 |
advisory board, and specialized industry, professional, and other | 29 |
relevant interest groups concerning its purposes; | 30 |
(6) Facilitate alignment of the state's science and | 31 |
technology programs and activities; | 32 |
(7) Make grants and loans to individuals, public agencies, | 33 |
private companies or organizations, or joint ventures for any of | 34 |
the broad range of activities related to its purposes. | 35 |
(B) In addition to the powers and duties under sections | 36 |
184.10 to 184.20 of the Revised Code, the commission shall do all | 37 |
of the following: | 38 |
(1) Establish a competitive process for the award of grants | 39 |
and loans that is designed to fund the most meritorious proposals | 40 |
and, when appropriate, provide for peer review of proposals; | 41 |
(2) Within ninety days after the end of each fiscal year, | 42 |
submit to the governor and the general assembly a report of the | 43 |
activities of the commission during the preceding fiscal year; | 44 |
(3) With specific application to the biomedical research and | 45 |
technology transfer trust fund, periodically make strategic | 46 |
assessments of the types of state investments in biomedical | 47 |
research and biotechnology in the state that would likely create | 48 |
jobs and business opportunities in the state and produce the most | 49 |
beneficial long-term improvements to the public health of Ohioans, | 50 |
including, but not limited to, biomedical research and | 51 |
biotechnology initiatives that address tobacco-related illnesses | 52 |
as may be outlined in any master agreement. The commission shall | 53 |
award grants and loans from the fund pursuant to a process | 54 |
established under division (B)(1) of this section. | 55 |
Sec. 184.30. As used in sections 184.30 to 184.35 of the | 56 |
Revised Code: | 57 |
(A) "Approved field of study" includes a field of study in | 58 |
engineering, chemistry, physics, computer sciences, biomedical | 59 |
technologies, or other field that directly relates to the goals of | 60 |
the third frontier, as determined by the third frontier | 61 |
commission. | 62 |
(B) "Ohio institution of higher education" means both of the | 63 |
following: | 64 |
(1) A state university, as defined in section 3345.011 of the | 65 |
Revised Code; | 66 |
(2) An institution authorized by the Ohio board of regents | 67 |
under Chapter 1713. of the Revised Code to grant master's or | 68 |
doctorate degrees in an approved field of study and that is | 69 |
accredited by the appropriate regional, and when appropriate, | 70 |
professional accrediting associations within whose jurisdiction it | 71 |
falls. | 72 |
(C) "Student" means an individual, of any citizenship status, | 73 |
enrolled at an Ohio institution of higher education in a master's | 74 |
or doctorate degree program in an approved field of study. | 75 |
Sec. 184.31. The third frontier pilot forgivable loan program | 76 |
is hereby established. The purpose of the program is to encourage | 77 |
graduate students to accept employment in Ohio in a career related | 78 |
to the goals of the third frontier after receipt of a master's or | 79 |
doctorate degree in approved fields of study. Under the program, a | 80 |
maximum of five hundred loans may be awarded in an academic year | 81 |
to students pursuing master's or doctorate degrees in approved | 82 |
fields of study. Each loan shall be in an amount of eight thousand | 83 |
dollars per year, provided the general assembly appropriates | 84 |
sufficient funds for the program. Loan amounts may be forgiven as | 85 |
provided in section 184.33 of the Revised Code. | 86 |
The program shall be administered by the third frontier | 87 |
commission, in consultation with the third frontier advisory | 88 |
board. | 89 |
Within sixty days after the end of five years of operation of | 90 |
the program, the third frontier commission shall submit a written | 91 |
report to the governor and the general assembly that provides | 92 |
information as to the effectiveness of the program in encouraging | 93 |
students to accept employment in Ohio that directly relates to the | 94 |
goals of the third frontier. | 95 |
Sec. 184.32. (A) In each academic year in which the general | 96 |
assembly appropriates sufficient funds, the third frontier | 97 |
commission shall award a loan of eight thousand dollars to not | 98 |
more than five hundred students, on a competitive basis. | 99 |
To qualify for a loan under this section, a student shall do | 100 |
all of the following: | 101 |
(1) Submit an application to the commission that demonstrates | 102 |
all of the following: | 103 |
(a) Current or acceptance for enrollment in an Ohio | 104 |
institution of higher education on a full-time basis for the | 105 |
purpose of pursuing a master's or doctorate degree in an approved | 106 |
field of study; | 107 |
(b) If currently enrolled, a status of good standing with the | 108 |
Ohio institution of higher education; | 109 |
(c) If currently enrolled, maintenance of a minimum grade | 110 |
point average comparable to a 3.0 on a 4.0 scale. | 111 |
(2) Submit evidence satisfactory to the commission describing | 112 |
how the student's completion of a master's or doctorate degree in | 113 |
an approved field of study can benefit Ohio's economy and the | 114 |
goals of the third frontier. Evidence submitted may include a | 115 |
written essay, letters of recommendation from faculty and business | 116 |
leaders, and academic publications to which the student | 117 |
contributed. | 118 |
(3) Comply with any other application requirements prescribed | 119 |
by the commission in rules adopted under section 184.35 of the | 120 |
Revised Code. | 121 |
(B) Loan proceeds shall be disbursed to the students in equal | 122 |
amounts over an academic year, in a manner determined by rules of | 123 |
the commission. | 124 |
(C) A student who receives a loan in one academic year has | 125 |
priority to receive additional loan amounts in subsequent academic | 126 |
years, provided the student continues to satisfy the requirements | 127 |
of division (A) of this section. However, no student may receive a | 128 |
loan for more than five academic years. | 129 |
(D) All applications for loans through this program shall be | 130 |
submitted to the third frontier commission by the fifteenth day of | 131 |
March preceding the academic year for which a loan is sought. | 132 |
Applications shall be submitted in the form and manner prescribed | 133 |
in rules adopted by the commission under section 184.35 of the | 134 |
Revised Code, and shall be accompanied by any additional materials | 135 |
required by the rules. | 136 |
Sec. 184.33. (A) Repayment of any loan amounts awarded under | 137 |
section 184.32 of the Revised Code shall be deferred during the | 138 |
following periods: | 139 |
(1) While a student continues to satisfy the requirements | 140 |
specified in divisions (A)(1)(a) to (c) of section 184.32 of the | 141 |
Revised Code; | 142 |
(2) For six months following the student's completion of a | 143 |
master's or doctorate degree from an Ohio institution of higher | 144 |
education in an approved field of study; | 145 |
(3) During a period of demonstrated financial hardship, as | 146 |
determined by rules adopted by the third frontier commission. | 147 |
(B) The third frontier commission shall not require a loan | 148 |
recipient to make repayments on a loan awarded under section | 149 |
184.32 of the Revised Code and shall forgive amounts of such a | 150 |
loan under division (C) of this section if the recipient provides | 151 |
to the commission's satisfaction evidence of all of the following: | 152 |
(1) The recipient has been awarded a master's or doctorate | 153 |
degree from an Ohio institution of higher education in an approved | 154 |
field of study. | 155 |
(2) Within six months of the award of a master's or doctorate | 156 |
degree from an Ohio institution of higher education in an approved | 157 |
field of study, the recipient has either: | 158 |
(a) Accepted employment in Ohio with an Ohio entity engaging | 159 |
the recipient in a position directly related to the goals of the | 160 |
third frontier, as determined by the third frontier commission. | 161 |
Acceptable employment may include employment on the faculty of an | 162 |
Ohio institution of higher education, with a private Ohio company | 163 |
receiving funds from the third frontier commission, or with the | 164 |
state of Ohio, provided the position directly relates to the goals | 165 |
of the third frontier, as determined by the commission. To qualify | 166 |
as acceptable employment, a position need not directly relate to | 167 |
the recipient's approved field of study, so long as the position | 168 |
relates to the goals of the third frontier, as determined by the | 169 |
commission. | 170 |
(b) Started a business in Ohio that directly relates to the | 171 |
goals of the third frontier, as determined by the commission. | 172 |
(3) The recipient continues to remain employed in a position | 173 |
in Ohio that directly relates to the goals of the third frontier, | 174 |
as determined by the commission, while an outstanding loan balance | 175 |
exists. | 176 |
(4) The recipient is a resident of Ohio for purposes of Title | 177 |
LVII of the Revised Code. | 178 |
(C) If a recipient reports to the commission's satisfaction | 179 |
that the recipient fulfills all of the requirements of division | 180 |
(B) of this section, the commission shall forgive one thousand | 181 |
dollars of loan amounts awarded under section 184.32 of the | 182 |
Revised Code ninety-one days after the date of first employment | 183 |
and one thousand dollars every ninety-one days thereafter, for as | 184 |
long as the recipient fulfills all requirements of that division, | 185 |
until the student no longer has any outstanding loan amounts. | 186 |
(D) A recipient who does not qualify or ceases to qualify for | 187 |
a deferment of loan repayment or loan forgiveness under this | 188 |
section shall repay any outstanding loan amounts awarded under | 189 |
section 184.32 of the Revised Code to the third frontier | 190 |
commission in monthly payments, at an annual interest rate of six | 191 |
per cent compounded daily from the date loan amounts are | 192 |
disbursed. The maximum repayment schedule shall be for a period of | 193 |
five years. | 194 |
(E) If a recipient who qualifies for loan forgiveness under | 195 |
divisions (B) and (C) of this section becomes unemployed, the | 196 |
recipient has ninety days from the date of unemployment to accept | 197 |
employment that meets the requirements of division (B)(2)(a) or | 198 |
(b) of this section to maintain eligibility for loan deferment and | 199 |
forgiveness. If the recipient fails to accept such employment | 200 |
within the ninety days, the student shall repay any outstanding | 201 |
loan amounts as provided in division (D) of this section. | 202 |
Sec. 184.34. The third frontier commission may accept gifts | 203 |
of money from any source for the implementation and administration | 204 |
of the third frontier pilot forgivable loan program under sections | 205 |
184.30 to 184.35 of the Revised Code. | 206 |
The commission shall pay all gifts and all loan repayments | 207 |
into the state treasury, to the credit of the third frontier | 208 |
forgivable loan fund, which is hereby created. The commission | 209 |
shall use money in the fund to implement and administer sections | 210 |
184.30 to 184.33 of the Revised Code. | 211 |
Sec. 184.35. The third frontier commission shall adopt rules | 212 |
to implement the third frontier pilot forgivable loan program | 213 |
under sections 184.30 to 184.33 of the Revised Code. The rules | 214 |
shall include provisions regarding the application procedure, | 215 |
disbursement schedules of loan proceeds, loan repayment provisions | 216 |
if a loan recipient is not eligible for loan forgiveness under | 217 |
section 184.34 of the Revised Code, deferment of loan repayment | 218 |
provisions for a recipient with demonstrated financial hardship, | 219 |
reporting requirements in order to qualify for loan deferment or | 220 |
forgiveness, and any other rules the commission considers | 221 |
necessary for implementation and administration of the program. | 222 |
Sec. 3345.32. (A) As used in this section: | 223 |
(1) "State university or college" means the institutions | 224 |
described in section 3345.27 of the Revised Code and the | 225 |
northeastern Ohio universities college of medicine. | 226 |
(2) "Resident" has the meaning specified by rule of the Ohio | 227 |
board of regents. | 228 |
(3) "Statement of selective service status" means a statement | 229 |
certifying one of the following: | 230 |
(a) That the individual filing the statement has registered | 231 |
with the selective service system in accordance with the "Military | 232 |
Selective Service Act," 62 Stat. 604, 50 U.S.C. App. 453, as | 233 |
amended; | 234 |
(b) That the individual filing the statement is not required | 235 |
to register with the selective service for one of the following | 236 |
reasons: | 237 |
(i) The individual is under eighteen or over twenty-six years | 238 |
of age. | 239 |
(ii) The individual is on active duty with the armed forces | 240 |
of the United States other than for training in a reserve or | 241 |
national guard unit. | 242 |
(iii) The individual is a nonimmigrant alien lawfully in the | 243 |
United States in accordance with section 101 (a)(15) of the | 244 |
"Immigration and Nationality Act," 8 U.S.C. 1101, as amended. | 245 |
(iv) The individual is not a citizen of the United States and | 246 |
is a permanent resident of the Trust Territory of the Pacific | 247 |
Islands or the Northern Mariana Islands. | 248 |
(4) "Institution of higher education" means any eligible | 249 |
institution approved by the United States department of education | 250 |
pursuant to the "Higher Education Act of 1965," 79 Stat. 1219, as | 251 |
amended, or any institution whose students are eligible for | 252 |
financial assistance under any of the programs described by | 253 |
division (E) of this section. | 254 |
(B) The Ohio board of regents shall, by rule, specify the | 255 |
form of statements of selective service status to be filed in | 256 |
compliance with divisions (C) to | 257 |
statement of selective service status shall contain a section | 258 |
wherein a male student born after December 31, 1959, certifies | 259 |
that the student has registered with the selective service system | 260 |
in accordance with the "Military Selective Service Act," 62 Stat. | 261 |
604, 50 U.S.C. App. 453, as amended. For those students not | 262 |
required to register with the selective service, as specified in | 263 |
divisions (A)(2)(b)(i) to (iv) of this section, a section shall be | 264 |
provided on the statement of selective service status for the | 265 |
certification of nonregistration and for an explanation of the | 266 |
reason for the exemption. The board of regents may require that | 267 |
such statements be accompanied by documentation specified by rule | 268 |
of the board. | 269 |
(C) A state university or college that enrolls in any course, | 270 |
class, or program a male student born after December 31, 1959, who | 271 |
has not filed a statement of selective service status with the | 272 |
university or college shall, regardless of the student's | 273 |
residency, charge the student any tuition surcharge charged | 274 |
students who are not residents of this state. | 275 |
(D) No male born after December 31, 1959, shall be eligible | 276 |
to receive any loan, grant, scholarship, or other financial | 277 |
assistance for educational expenses under section 184.32, 3315.33, | 278 |
3333.12, 3333.122, 3333.21, 3333.22, 3333.26, 3333.27, 5910.03, | 279 |
5910.032, or 5919.34 of the Revised Code unless that person has | 280 |
filed a statement of selective service status with that person's | 281 |
institution of higher education. | 282 |
(E) If an institution of higher education receives a | 283 |
statement from an individual certifying that the individual has | 284 |
registered with the selective service system in accordance with | 285 |
the "Military Selective Service Act," 62 Stat. 604, 50 U.S.C. App. | 286 |
453, as amended or that the individual is exempt from registration | 287 |
for a reason other than that the individual is under eighteen | 288 |
years of age, the institution shall not require the individual to | 289 |
file any further statements. If it receives a statement certifying | 290 |
that the individual is not required to register because the | 291 |
individual is under eighteen years of age, the institution shall | 292 |
require the individual to file a new statement of selective | 293 |
service status each time the individual seeks to enroll for a new | 294 |
academic term or makes application for a new loan or loan | 295 |
guarantee or for any form of financial assistance for educational | 296 |
expenses, until it receives a statement certifying that the | 297 |
individual has registered with the selective service system or is | 298 |
exempt from registration for a reason other than that the | 299 |
individual is under eighteen years of age. | 300 |
Section 2. That existing sections 184.02 and 3345.32 of the | 301 |
Revised Code are hereby repealed. | 302 |