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To enact section 6301.14 of the Revised Code to | 1 |
create the OhioMeansJobs Workforce Development | 2 |
Revolving Loan Fund, to create the OhioMeansJobs | 3 |
Workforce Development Revolving Loan Program, to | 4 |
allocate a portion of casino license fees to | 5 |
finance the loan program, and to make an | 6 |
appropriation. | 7 |
Section 1. That section 6301.14 of the Revised Code be | 8 |
enacted to read as follows: | 9 |
Sec. 6301.14. The OhioMeansJobs workforce development | 10 |
revolving loan fund is hereby created in the state treasury. The | 11 |
fund shall consist of a portion of the proceeds from the upfront | 12 |
license fees paid for the casino facilities authorized under | 13 |
Section 6(C) of Article XV, Ohio Constitution. The investment | 14 |
earnings of the fund shall be credited to the fund. | 15 |
Section 2. (A) As used in this section: | 16 |
(1) "Institution" means any of the following: | 17 |
(a) A state institution of higher education, as defined in | 18 |
section 3345.011 of the Revised Code; | 19 |
(b) A private career school, as defined in section 3332.01 of | 20 |
the Revised Code; | 21 |
(c) A private, nonprofit institution in this state holding a | 22 |
certificate of authorization pursuant to Chapter 1713. of the | 23 |
Revised Code; | 24 |
(d) A private institution exempt from regulation under | 25 |
Chapter 3332. of the Revised Code as prescribed in section | 26 |
3333.046 of the Revised Code, if the program has a certificate of | 27 |
authorization pursuant to Chapter 1713. of the Revised Code; | 28 |
(e) A career-technical center, joint vocational school | 29 |
district, comprehensive career-technical center, or compact | 30 |
career-technical center offering adult training. | 31 |
(2) "Workforce training program" includes any of the | 32 |
following: | 33 |
(a) Courses, programs, or a degree from an institution; | 34 |
(b) Vocational education classes offered to adult learners; | 35 |
(c) Any other training program designed to meet the special | 36 |
requirements of a particular employer. | 37 |
(B)(1) The OhioMeansJobs Workforce Development Revolving Loan | 38 |
Program is hereby established for the purpose of assisting with | 39 |
job growth and advancement through training and retraining. The | 40 |
Chancellor of the Ohio Board of Regents shall administer the | 41 |
program and shall award funds to an institution that the | 42 |
institution shall use to award loans to participants in a | 43 |
workforce training program that is approved by the Chancellor and | 44 |
that is administered by the institution. | 45 |
(2) In awarding funds under this section, the Chancellor | 46 |
shall give a preference to an institution for a workforce training | 47 |
program in which the institution partners with a business that is | 48 |
willing to repay all or part of the loan on behalf of a program | 49 |
participant or with a business that also provides funding for the | 50 |
program, in comparison to a program that does not have such a | 51 |
partnership. The Chancellor shall consider a program that has | 52 |
employment opportunities in areas that are in demand, including, | 53 |
but not limited to, energy exploration. | 54 |
(3) The Chancellor also shall consider all of the following | 55 |
factors when determining whether to award funds under this section | 56 |
to an institution for a workforce training program, to the extent | 57 |
that these factors apply to the program: | 58 |
(a) The success rate of the workforce training program | 59 |
offered by the institution; | 60 |
(b) The cost of the workforce training program based upon a | 61 |
comparison of similar workforce training programs offered in this | 62 |
state; | 63 |
(c) The rate that the workforce training program participants | 64 |
obtain employment in the field in which they receive training | 65 |
under the program; | 66 |
(d) The willingness of the institution to assist a | 67 |
participant in paying for the costs of participating in the | 68 |
workforce training program; | 69 |
(e) The extent to which the program has demonstrated support | 70 |
from business partners. | 71 |
(4) After the initial funds are awarded to institutions under | 72 |
this section, the Chancellor, in awarding subsequent funds under | 73 |
this section, shall give greater weight to the factors listed in | 74 |
division (B)(3)(a) of this section in comparison to the other | 75 |
factors listed in division (B)(3) of this section, but shall not | 76 |
give that factor greater weight than the preference given in | 77 |
division (B)(2) of this section. | 78 |
(C) Funds shall be disbursed to successful applicants using | 79 |
moneys from the OhioMeansJobs Workforce Development Revolving Loan | 80 |
Fund established in section 6301.14 of the Revised Code. The | 81 |
Chancellor shall not award to an institution more than one hundred | 82 |
thousand dollars per workforce training program per year under | 83 |
this section. An institution receiving funds under this section | 84 |
shall establish, in consultation with the Board of Regents, | 85 |
eligibility requirements that a participant in the workforce | 86 |
training program for which the institution received the funds | 87 |
shall satisfy to receive a loan under this section, and the | 88 |
institution shall disburse the loan to program participants who | 89 |
satisfy those requirements. A loan awarded by an institution to a | 90 |
program participant under this section shall not exceed ten | 91 |
thousand dollars per program in which the participant | 92 |
participates. | 93 |
(D) Except as provided in the rules adopted by the Chancellor | 94 |
pursuant to division (E)(3) of this section, a loan to a program | 95 |
participant shall remain interest-free until six months after the | 96 |
date the participant successfully completes the workforce training | 97 |
program, if the participant also continues to reside in this | 98 |
state. Beginning on the earlier of the date that is six months | 99 |
after the individual completes the workforce training program for | 100 |
which the participant received a loan under this section or the | 101 |
date the participant ceases to reside in this state, the | 102 |
Chancellor shall assess a rate of interest of not more than four | 103 |
per cent per annum on any outstanding principal balance of that | 104 |
loan. The Chancellor shall not assess a zero per cent interest | 105 |
rate. The Chancellor shall establish a payment schedule not to | 106 |
exceed seven years after the date a participant successfully | 107 |
completes the workforce training program. | 108 |
(E) The Chancellor shall prescribe, by rule adopted in | 109 |
accordance with Chapter 119. of the Revised Code, procedures | 110 |
necessary to carry out this section, including all of the | 111 |
following: | 112 |
(1) Application procedures for funds under this section, | 113 |
which shall include a description of the workforce training | 114 |
program for which the institution intends to award loans and the | 115 |
number of individuals who will be participating in that program; | 116 |
(2) Terms for repayment of a loan; | 117 |
(3) Assessment of interest on loans for a participant who | 118 |
fails to comply with continuing eligibility requirements, who | 119 |
fails to complete the workforce training program for which the | 120 |
participant received the loan, or whose participation in the | 121 |
program is on a staggered basis; | 122 |
(4) A method to determine the amount of funds awarded to an | 123 |
institution based on the costs of the workforce training program | 124 |
for which a program participant receives a loan and the number of | 125 |
individuals the institution estimates will participate in the | 126 |
program; | 127 |
(5) Disbursement of funds to an institution; | 128 |
(6) The process by which the Chancellor approves workforce | 129 |
training programs for which loans are granted under this section. | 130 |
(F) The Treasurer of State shall serve as an agent for the | 131 |
Chancellor in the making of deposits and withdrawals and | 132 |
maintenance of records pertaining to the OhioMeansJobs Workforce | 133 |
Development Revolving Loan Fund. | 134 |
(G) The Chancellor may designate either the Treasurer of | 135 |
State, or a third party to serve as the Chancellor's agent in | 136 |
servicing the loans described in this section. The agent | 137 |
designated by the Chancellor pursuant to this division is | 138 |
authorized to take such actions and to enter into such contracts | 139 |
and to execute all instruments necessary or appropriate to service | 140 |
loans described in this section. If the Treasurer of State is | 141 |
designated the agent pursuant to this division, the Treasurer of | 142 |
State may adopt rules under section 111.15 of the Revised Code to | 143 |
implement this division and may designate a third party to serve | 144 |
as an agent of the Treasurer of State in servicing the loans. The | 145 |
third party designated by the Treasurer of State is authorized to | 146 |
take such actions, to enter into such contracts, and to execute | 147 |
all instruments necessary or appropriate to service those loans. | 148 |
(H)(1) The Chancellor shall prepare a report outlining the | 149 |
amount each institution received under this section during the | 150 |
previous year, including the amount awarded to each individual | 151 |
workforce training program. The Chancellor may include in the | 152 |
report any recommendations for legislative changes to the Program | 153 |
that the Chancellor determines are necessary to improve the | 154 |
functioning and efficiency of the Program. | 155 |
(2) Beginning on July 1, 2014, and continuing every year | 156 |
thereafter for so long as the Chancellor awards funds under the | 157 |
Program, the Chancellor shall submit the report prepared in | 158 |
division (H)(1) of this section to the Governor, the Speaker and | 159 |
Minority Leader of the House of Representatives, and the President | 160 |
and Minority Leader of the Senate. | 161 |
Section 3. All items in this section are hereby appropriated | 162 |
as designated out of any moneys in the state treasury to the | 163 |
credit of the designated fund. For all appropriations made in this | 164 |
act, those in the first column are for fiscal year 2014 and those | 165 |
in the second column are for fiscal year 2015. The appropriations | 166 |
made in this act are in addition to any other appropriations made | 167 |
for the FY 2014-FY 2015 biennium. | 168 |
Appropriations |
169 | |
State Special Revenue Fund Group | 170 |
5NH0 | 235684 | OhioMeansJobs Workforce Development Revolving Loan Program | $ | 25,000,000 | $ | 0 | 171 | ||||
TOTAL SSR State Special Revenue Fund Group | $ | 25,000,000 | $ | 0 | 172 | ||||||
TOTAL ALL BUDGET FUND GROUPS | $ | 25,000,000 | $ | 0 | 173 |
OHIOMEANSJOBS WORKFORCE DEVELOPMENT REVOLVING LOAN PROGRAM | 174 |
The foregoing appropriation item 235684, OhioMeansJobs | 175 |
Workforce Development Revolving Loan Program, shall be used for | 176 |
the OhioMeansJobs Workforce Development Revolving Loan Program to | 177 |
provide loans to individuals for workforce training as described | 178 |
in Section 2 of this act. | 179 |
The Chancellor of the Ohio Board of Regents and Treasurer of | 180 |
State may each certify to the Director of Budget and Management | 181 |
the amount of administrative expenses estimated as a result of | 182 |
implementing and operating the OhioMeansJobs Workforce Development | 183 |
Revolving Loan Program over the FY 2014-FY 2015 biennium. | 184 |
Of the foregoing appropriation item 235684, OhioMeansJobs | 185 |
Workforce Development Revolving Loan Program, up to $250,000 in | 186 |
fiscal year 2014 may be used by the Chancellor of the Board of | 187 |
Regents for administrative expenses of the Program, and up to | 188 |
$250,000 in fiscal year 2014 may be used by the Treasurer of State | 189 |
for administrative expenses of the Program. | 190 |
Any unexpended and unencumbered portion of the foregoing | 191 |
appropriation item 235684, OhioMeansJobs Workforce Development | 192 |
Revolving Loan Program, at the end of fiscal year 2014 is hereby | 193 |
reappropriated for the same purpose in fiscal year 2015. To the | 194 |
extent that reappropriated funds are available, of the foregoing | 195 |
appropriation item 235684, OhioMeansJobs Workforce Development | 196 |
Revolving Loan Program, up to $250,000 in fiscal year 2015 may be | 197 |
used by the Chancellor of the Board of Regents for administrative | 198 |
expenses of the Program, and up to $250,000 in fiscal year 2015 | 199 |
may be used by the Treasurer of State for administrative expenses | 200 |
of the Program. | 201 |
Section 4. TRANSFER TO OHIOMEANSJOBS WORKFORCE DEVELOPMENT | 202 |
REVOLVING LOAN FUND | 203 |
On July 1, 2013, or as soon as possible thereafter, the | 204 |
Director of Budget and Management shall transfer $25,000,000 from | 205 |
the Economic Development Programs Fund (Fund 5JC0) used by the | 206 |
Board of Regents to the OhioMeansJobs Workforce Development | 207 |
Revolving Loan Fund (Fund 5NH0) used by the Board of Regents. | 208 |
Section 5. Within the limits set forth in this act, the | 209 |
Director of Budget and Management shall establish accounts | 210 |
indicating the source and amount of funds for each appropriation | 211 |
made in this act, and shall determine the form and manner in which | 212 |
appropriation accounts shall be maintained. Expenditures from | 213 |
appropriations contained in this act shall be accounted for as | 214 |
though made in the main operating appropriations act of the 130th | 215 |
General Assembly. | 216 |
The appropriations made in this act are subject to all | 217 |
provisions of the main operating appropriations act of the 130th | 218 |
General Assembly that are generally applicable to such | 219 |
appropriations. | 220 |