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H. B. No. 299 As IntroducedAs Introduced
128th General Assembly | Regular Session | 2009-2010 |
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Representative Weddington
Cosponsors:
Representatives Yates, Domenick, Williams, S.
A BILL
To enact sections 107.33 and 135.25 of the Revised
Code to require public depositories to submit
annual reports of minority business loans and
investments.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF OHIO:
Section 1. That sections 107.33 and 135.25 of the Revised
Code be enacted to read as follows:
Sec. 107.33. The governor shall designate a person to submit
an annual report to the general assembly, the governor, the
director of development, and the Ohio minority business advisory
council or any successor organization designated by the governor
containing information from the reports received under section
135.25 of the Revised Code. The annual report shall be submitted
not later than the first day of April of each year.
Sec. 135.25. (A) As used in this section:
(1) "Minority" has the same meaning as in section 184.17 of
the Revised Code.
(2) "Owned and controlled" means that at least fifty-one per
cent of the business, including corporate stock if a corporation,
is owned by persons who belong to one or more groups described in
division (A)(1) of this section, and that those owners have
control over the day-to-day operations of the business and an
interest in the capital, assets, and profits and losses of the
business proportionate to their percentage of ownership.
(B) Not later than the first day of March of each year, each
public depository, who at any time during the previous calendar
year held a public deposit, shall submit a report to the
governor's designee under section 107.33 of the Revised Code
containing the following information for that previous calendar
year:
(1) The number of business loans made to minorities or
minority owned and controlled businesses, identifying information
for each recipient, and amount of each loan;
(2) The institution's total investments in minority owned or
controlled businesses, identifying information for each business
receiving investment, and amount of each investment.
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