To create a joint legislative committee to study the impact of high technology start-up businesses on economic development and small businesses in Ohio.

BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF OHIO:

(1) Three members from the House of Representatives, two of whom shall be appointed by the Speaker of the House of Representatives and one of whom shall be appointed by the Minority Leader of the House of Representatives. The Speaker of the House of Representatives shall designate one of the members appointed by the Speaker as a co-chairperson of the committee.

(2) Three members from the Senate, two of whom shall be appointed by the President of the Senate and one of whom shall be appointed by the Minority Leader of the Senate. The President of the Senate shall appoint one of the members appointed by the President as a co-chairperson of the committee.

(3) One former member of the House of Representatives appointed by the Speaker of the House of Representatives;

(4) One former member of the Senate appointed by the President of the Senate;

(5) One member, appointed by the Speaker of the House of Representatives, who shall represent the venture capital industry in the state;

(6) One member, appointed by the President of the Senate, who shall be an attorney and an expert in high-technology legal issues;

(7) Six members appointed by the Governor, three of whom shall represent a different private business association in the state, one of whom shall represent an Ohio labor organization, one of whom shall represent an Edison Center, as defined in division (A) of section 122.15 of the Revised Code, and one of whom shall be a member of the Governor's Small Business Advisory Council;

(8) The Director of Development or the Director's designee.

(B) The members of the committee shall serve without compensation, but shall be reimbursed for their actual and necessary travel and other expenses incurred in the performance of their official duties as committee members. Witnesses called to testify before the committee shall be reimbursed for their actual and necessary travel expenses incurred in attending committee hearings. These and other expenses associated with the committee's performance of its functions shall be paid from any funds appropriated for the operation of committees of the General Assembly.

(C) The committee shall examine how to retain high technology start-up businesses in the state, the factors motivating these businesses to locate in the state or to relocate out of the state, and the overall impact of these businesses on economic development and small businesses in Ohio. The committee shall submit a report along with its recommendations based on the study to the General Assembly by August 1, 2001. Upon submitting its report and recommendations, the committee shall cease to exist.