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| To amend section 5747.98 and to enact sections | 1 |
| 3333.92 and 5747.78 of the Revised Code to | 2 |
| establish the Workforce Grant Program, to | 3 |
| authorize an income tax credit equal to 25% of the | 4 |
| student loan payments a grant recipient makes per | 5 |
| year, and to make an appropriation. | 6 |
| Section 1. That section 5747.98 be amended and sections | 7 |
| 3333.92 and 5747.78 of the Revised Code be enacted to read as | 8 |
| follows: | 9 |
| Sec. 3333.92. (A) As used in this section, "eligible | 10 |
| student" means a student who is enrolled in a state institution of | 11 |
| higher education as defined in section 3345.011 of the Revised | 12 |
| Code. | 13 |
| (B) The workforce grant program is hereby established. Under | 14 |
| the program, the chancellor of the Ohio board of regents shall | 15 |
| award grants to eligible students who are pursuing the degrees or | 16 |
| certifications that are required for the jobs that are determined | 17 |
| to be the most in demand in this state by the department of job | 18 |
| and family services under section 6301.11 of the Revised Code. | 19 |
| (C)(1) On an annual basis, the maximum amount of a grant | 20 |
| awarded to an eligible student shall be five thousand dollars. | 21 |
| One-third of the amount of the grant shall be distributed at the | 22 |
| beginning of the academic year, and the remainder of the grant | 23 |
| shall be distributed proportionally throughout the remainder of | 24 |
| the academic year upon the student's successful completion of the | 25 |
| milestones specified in rules adopted by the chancellor under | 26 |
| division (D)(3) of this section. | 27 |
| (2) A grant may be renewed in accordance with the rules | 28 |
| adopted by the chancellor under division (D) of this section. | 29 |
| (D) The chancellor shall adopt rules regarding the operations | 30 |
| of the grant program, including all of the following: | 31 |
| (1) Application procedures; | 32 |
| (2) The method for selecting grant recipients, which shall | 33 |
| include both of the following: | 34 |
| (a) An assessment of an applicant's need for financial aid; | 35 |
| (b) An analysis of whether the degree or certification that | 36 |
| is being pursued by an applicant is required for one or more of | 37 |
| the jobs that are determined to be the most in demand in this | 38 |
| state by the department of job and family services under section | 39 |
| 6301.11 of the Revised Code. | 40 |
| (3) Milestones that must be attained by a grant recipient in | 41 |
| order to receive the remainder of an annual grant under division | 42 |
| (C) of this section, including spending thirty to ninety days in a | 43 |
| workplace where the degree or certification that is being pursued | 44 |
| by the grant recipient is required for employment or participating | 45 |
| in a cooperative or internship program in a workplace where the | 46 |
| degree or certification that is being pursued by the grant | 47 |
| recipient is required for employment; | 48 |
| (4) Other requirements that must be completed by a grant | 49 |
| recipient, including both of the following: | 50 |
| (a) The completion of curriculum that includes skills needed | 51 |
| by employers; | 52 |
| (b) The completion of counseling regarding the proper | 53 |
| management of student loans. | 54 |
| (5) Grant renewal procedures. | 55 |
| (E) The chancellor shall adopt rules establishing a procedure | 56 |
| for distributing information to high school students and | 57 |
| first-year college students in this state regarding the jobs that | 58 |
| are determined to be the most in demand in this state by the | 59 |
| department of job and family services under section 6301.11 of the | 60 |
| Revised Code and the educational requirements for those jobs. | 61 |
| Sec. 5747.78. (A) As used in this section: | 62 |
| (1) "Eligible student loan" means a loan used to pay the | 63 |
| tuition and related expenses required to earn a qualifying degree | 64 |
| or certification from an institution of higher education as | 65 |
| defined in section 3345.011 of the Revised Code. | 66 |
| (2) "Eligible grant recipient" means a person who received a | 67 |
| grant under section 3333.92 of the Revised Code and who is | 68 |
| employed in an in-demand job. | 69 |
| (3) "In-demand job" means a job that is determined to be one | 70 |
| of the most in demand in this state by the department of job and | 71 |
| family services under section 6301.11 of the Revised Code. | 72 |
| (4) "Qualifying degree or certification" means a degree or | 73 |
| certification the pursuit of which qualified the eligible grant | 74 |
| recipient for a grant under section 3333.92 of the Revised Code. | 75 |
| (B) There is hereby allowed a refundable credit against the | 76 |
| tax imposed by section 5747.02 of the Revised Code for an eligible | 77 |
| grant recipient who makes payments on an eligible student loan | 78 |
| during the taxable year. The amount of the credit shall equal | 79 |
| twenty-five per cent of the amount of principal and interest paid | 80 |
| on the eligible student loan, excluding any such principal or | 81 |
| interest that is otherwise deducted or excluded in computing the | 82 |
| federal or Ohio adjusted gross income of the taxpayer, during the | 83 |
| taxable year. The credit shall be claimed in the order prescribed | 84 |
| by section 5747.98 of the Revised Code. If the credit exceeds the | 85 |
| amount of tax otherwise due for the taxable year, the excess shall | 86 |
| be refunded to the taxpayer. | 87 |
| (C) The tax commissioner may require an eligible grant | 88 |
| recipient to furnish any information necessary to support a claim | 89 |
| for credit under this section, and no credit shall be allowed | 90 |
| unless such information is provided. | 91 |
| Sec. 5747.98. (A) To provide a uniform procedure for | 92 |
| calculating the amount of tax due under section 5747.02 of the | 93 |
| Revised Code, a taxpayer shall claim any credits to which the | 94 |
| taxpayer is entitled in the following order: | 95 |
| (1) The retirement income credit under division (B) of | 96 |
| section 5747.055 of the Revised Code; | 97 |
| (2) The senior citizen credit under division (C) of section | 98 |
| 5747.05 of the Revised Code; | 99 |
| (3) The lump sum distribution credit under division (D) of | 100 |
| section 5747.05 of the Revised Code; | 101 |
| (4) The dependent care credit under section 5747.054 of the | 102 |
| Revised Code; | 103 |
| (5) The lump sum retirement income credit under division (C) | 104 |
| of section 5747.055 of the Revised Code; | 105 |
| (6) The lump sum retirement income credit under division (D) | 106 |
| of section 5747.055 of the Revised Code; | 107 |
| (7) The lump sum retirement income credit under division (E) | 108 |
| of section 5747.055 of the Revised Code; | 109 |
| (8) The low-income credit under section 5747.056 of the | 110 |
| Revised Code; | 111 |
| (9) The credit for displaced workers who pay for job training | 112 |
| under section 5747.27 of the Revised Code; | 113 |
| (10) The campaign contribution credit under section 5747.29 | 114 |
| of the Revised Code; | 115 |
| (11) The twenty-dollar personal exemption credit under | 116 |
| section 5747.022 of the Revised Code; | 117 |
| (12) The joint filing credit under division (G) of section | 118 |
| 5747.05 of the Revised Code; | 119 |
| (13) The nonresident credit under division (A) of section | 120 |
| 5747.05 of the Revised Code; | 121 |
| (14) The credit for a resident's out-of-state income under | 122 |
| division (B) of section 5747.05 of the Revised Code; | 123 |
| (15) The earned income credit under section 5747.71 of the | 124 |
| Revised Code; | 125 |
| (16) The credit for employers that reimburse employee child | 126 |
| care expenses under section 5747.36 of the Revised Code; | 127 |
| (17) The credit for adoption of a minor child under section | 128 |
| 5747.37 of the Revised Code; | 129 |
| (18) The credit for purchases of lights and reflectors under | 130 |
| section 5747.38 of the Revised Code; | 131 |
| (19) The nonrefundable job retention credit under division | 132 |
| (B) of section 5747.058 of the Revised Code; | 133 |
| (20) The credit for selling alternative fuel under section | 134 |
| 5747.77 of the Revised Code; | 135 |
| (21) The second credit for purchases of new manufacturing | 136 |
| machinery and equipment and the credit for using Ohio coal under | 137 |
| section 5747.31 of the Revised Code; | 138 |
| (22) The job training credit under section 5747.39 of the | 139 |
| Revised Code; | 140 |
| (23) The enterprise zone credit under section 5709.66 of the | 141 |
| Revised Code; | 142 |
| (24) The credit for the eligible costs associated with a | 143 |
| voluntary action under section 5747.32 of the Revised Code; | 144 |
| (25) The credit for employers that establish on-site child | 145 |
| day-care centers under section 5747.35 of the Revised Code; | 146 |
| (26) The ethanol plant investment credit under section | 147 |
| 5747.75 of the Revised Code; | 148 |
| (27) The credit for purchases of qualifying grape production | 149 |
| property under section 5747.28 of the Revised Code; | 150 |
| (28) The small business investment credit under section | 151 |
| 5747.81 of the Revised Code; | 152 |
| (29) The enterprise zone credits under section 5709.65 of the | 153 |
| Revised Code; | 154 |
| (30) The research and development credit under section | 155 |
| 5747.331 of the Revised Code; | 156 |
| (31) The credit for rehabilitating a historic building under | 157 |
| section 5747.76 of the Revised Code; | 158 |
| (32) The refundable credit for rehabilitating a historic | 159 |
| building under section 5747.76 of the Revised Code; | 160 |
| (33) The refundable jobs creation credit or job retention | 161 |
| credit under division (A) of section 5747.058 of the Revised Code; | 162 |
| (34) The refundable credit for taxes paid by a qualifying | 163 |
| entity granted under section 5747.059 of the Revised Code; | 164 |
| (35) The refundable credits for taxes paid by a qualifying | 165 |
| pass-through entity granted under division (I) of section 5747.08 | 166 |
| of the Revised Code; | 167 |
| (36) The refundable credit under section 5747.80 of the | 168 |
| Revised Code for losses on loans made to the Ohio venture capital | 169 |
| program under sections 150.01 to 150.10 of the Revised Code; | 170 |
| (37) The refundable motion picture production credit under | 171 |
| section 5747.66 of the Revised Code; | 172 |
| (38) The refundable credit for financial institution taxes | 173 |
| paid by a pass-through entity granted under section 5747.65 of the | 174 |
| Revised Code; | 175 |
| (39) The refundable credit for student loan payments made by | 176 |
| eligible grant recipients under section 5747.78 of the Revised | 177 |
| Code. | 178 |
| (B) For any credit, except the refundable credits enumerated | 179 |
| in this section and the credit granted under division (H) of | 180 |
| section 5747.08 of the Revised Code, the amount of the credit for | 181 |
| a taxable year shall not exceed the tax due after allowing for any | 182 |
| other credit that precedes it in the order required under this | 183 |
| section. Any excess amount of a particular credit may be carried | 184 |
| forward if authorized under the section creating that credit. | 185 |
| Nothing in this chapter shall be construed to allow a taxpayer to | 186 |
| claim, directly or indirectly, a credit more than once for a | 187 |
| taxable year. | 188 |
| Section 2. That existing section 5747.98 of the Revised Code | 189 |
| is hereby repealed. | 190 |
| Section 3. All items in this section are hereby appropriated | 191 |
| as designated out of any moneys in the state treasury to the | 192 |
| credit of the designated fund. For all appropriations made in this | 193 |
| act, those in the first column are for fiscal year 2014 and those | 194 |
| in the second column are for fiscal year 2015. The appropriations | 195 |
| made in this act are in addition to any other appropriations made | 196 |
| for the FY 2014-FY 2015 biennium. | 197 |
| Appropriations |
| 198 | |
| General Revenue Fund | 199 |
| GRF | 235581 | Workforce Grants | $ | 0 | $ | 100,000,000 | 200 | ||||
| TOTAL GRF General Revenue Fund | $ | 0 | $ | 100,000,000 | 201 | ||||||
| TOTAL ALL BUDGET FUND GROUPS | $ | 0 | $ | 100,000,000 | 202 | ||||||
| WORKFORCE GRANTS | 203 |
| Of the foregoing appropriation item 235581, Workforce Grants, | 204 |
| up to $500,000 in fiscal year 2015 shall be used by the Chancellor | 205 |
| of the Board of Regents to coordinate a statewide effort to | 206 |
| promote workforce grant programs. | 207 |
| The remainder of appropriation item 235581, Workforce Grants, | 208 |
| shall be used by the Chancellor of the Board of Regents to | 209 |
| distribute grant awards pursuant to section 3333.92 of the Revised | 210 |
| Code. | 211 |
| Section 4. Within the limits set forth in this act, the | 212 |
| Director of Budget and Management shall establish accounts | 213 |
| indicating the source and amount of funds for each appropriation | 214 |
| made in this act, and shall determine the form and manner in which | 215 |
| appropriation accounts shall be maintained. Expenditures from | 216 |
| appropriations contained in this act shall be accounted for as | 217 |
| though made in Am. Sub. H.B. 59 of the 130th General Assembly. | 218 |
| The appropriations made in this act are subject to all | 219 |
| provisions of Am. Sub. H.B. 59 of the 130th General Assembly that | 220 |
| are generally applicable to such appropriations. | 221 |