To enact section 3333.70 of the Revised Code to create the Ohio Higher Education Innovation Grant Program and to make an appropriation.

Section 1. That section 3333.70 of the Revised Code be enacted to read as follows:

Sec. 3333.70.  (A) The chancellor of the Ohio board of regents shall establish and administer the Ohio higher education innovation grant program to promote educational excellence and efficiency throughout the state. Under the program, the chancellor shall award grants to state institutions of higher education, as defined in section 3345.011 of the Revised Code, for innovative projects that incorporate academic achievement and economic efficiencies. State institutions of higher education may apply for grants and collaborate with other institutions of higher education, either public or private, on such projects.

(B) The chancellor shall adopt rules to administer the program including, but not limited to, requirements that each grant application provides for all of the following:

(1) A system by which to measure academic achievement and reductions in expenditures, both in funding and administration;

(2) Demonstration of how the project will be sustained beyond the grant period and continue to provide substantial value and lasting impact;

(3) Proof of commitment from all parties responsible for the implementation of the project;

(4) Implementation of an ongoing evaluation process and improvement plans, as necessary.

Section 2.  All items in this section are hereby appropriated as designated out of any moneys in the state treasury to the credit of the designated fund. For all appropriations made in this act, those in the first column are for fiscal year 2014 and those in the second column are for fiscal year 2015. The appropriations made in this act are in addition to any other appropriations made for the FY 2014-FY 2015 biennium.

Appropriations

General Revenue Fund

INNOVATION GRANTS

The foregoing appropriation item 235529, Innovation Grants, shall be used by the Chancellor of the Board of Regents to distribute grant awards pursuant to section 3333.70 of the Revised Code.

Section 3.  Within the limits set forth in this act, the Director of Budget and Management shall establish accounts indicating the source and amount of funds for each appropriation made in this act, and shall determine the form and manner in which appropriation accounts shall be maintained. Expenditures from appropriations contained in this act shall be accounted for as though made in Am. Sub. H.B. 59 of the 130th General Assembly.

The appropriations made in this act are subject to all provisions of Am. Sub. H.B. 59 of the 130th General Assembly that are generally applicable to such appropriations.