Ohio Revised Code
Chapter 122 | Department of Development
Section 122.154 | Reports.

Effective: September 30, 2021
Latest Legislation: House Bill 110 - 134th General Assembly
(A) Each rural business growth fund shall submit a report to the department of development on or before the first day of each March following the end of the calendar year that includes the closing date until the calendar year after the fund has decertified. The report shall provide an itemization of the fund's growth investments and shall include the following documents and information:
(1) A bank statement evidencing each growth investment;
(2) The name, location, and industry class of each business that received a growth investment from the fund and evidence that the business qualified as a rural business concern at the time the investment was made. If the fund obtained a written opinion from the agency on the business's status as a rural business concern under section 122.156 of the Revised Code, or if the fund makes a written request for such an opinion and the agency failed to respond within thirty days as required by that section, a copy of the agency's favorable opinion or a dated copy of the fund's unanswered request, as applicable, shall be sufficient evidence that the business qualified as a rural business concern at the time the investment was made.
(3) The number of employment positions that existed at each business described in division (A)(2) of this section on the date the business received the growth investment;
(4) The number of new full-time equivalent employees resulting from each of the fund's growth investments made or maintained in the preceding calendar year;
(5) Any other information required by the agency.
(B) Each fund shall submit a report to the agency on or before the fifth business day after the first, second, and for program two funds, third anniversaries of the closing date that provides documentation sufficient to prove that the fund has met the investment thresholds described in division (A) of section 122.153 of the Revised Code and has not implicated any of the other recapture provisions described in division (B) of that section.
(C) Each certified rural business growth fund shall pay the agency an annual fee of twenty thousand dollars. The initial annual fee required of a fund shall be due and payable to the agency along with the submission of documentation required under division (H) of section 122.151 of the Revised Code. Each subsequent annual fee is due and payable on the last day of February following the first and each ensuing anniversary of the closing date. If the fund is required to submit an annual report under division (A) of this section, the annual fee shall be submitted along with the report. No fund shall be required to pay an annual fee after the fund has decertified under section 122.153 of the Revised Code. Annual fees paid to the agency under this section shall be credited to the tax incentives operating fund created under section 122.174 of the Revised Code.
(D) The director of development, after consultation with the superintendent of insurance and in accordance with Chapter 119. of the Revised Code, may adopt rules necessary to implement sections 122.15 to 122.156 of the Revised Code.
Last updated March 30, 2022 at 4:41 PM

Structure Ohio Revised Code

Ohio Revised Code

Title 1 | State Government

Chapter 122 | Department of Development

Section 122.01 | Department of Development Definitions.

Section 122.011 | Department of Development Powers and Duties.

Section 122.012 | Regional State Agency for Jobs and Employment Opportunities.

Section 122.013 | Required Postings on Official Internet Site.

Section 122.014 | Financial Assistance for Gaming Activities.

Section 122.02 | Applying for Federal and Private Assistance and Contracts.

Section 122.03 | Duties of Department - Research Facilities.

Section 122.04 | Additional Duties.

Section 122.041 | Duties of Director of Development as to Encouraging Diversity, Growth, and Equity Program.

Section 122.042 | Foundation of Employment Opportunity Program.

Section 122.05 | Offices in Foreign Countries.

Section 122.051 | International Trade Cooperative Projects Fund.

Section 122.06 | Planning Duties.

Section 122.07 | Office of Tourismohio.

Section 122.071 | Tourismohio Advisory Board.

Section 122.072 | Tourism Fund.

Section 122.073 | Promoting State of Ohio.

Section 122.075 | Alternative Fuel Transportation Grant Program.

Section 122.076 | Alternative Fuel Vehicle Conversion Program.

Section 122.077 | Energy Star Rebate Program.

Section 122.08 | Office of Small Business - Powers and Duties.

Section 122.081 | Small Business Register.

Section 122.082 | Low-Interest Loans to Small Businesses.

Section 122.083 | Shovel Ready Sites Program - Fund.

Section 122.085 | Job Ready Site Program - Definitions.

Section 122.086 | Job Ready Site Program.

Section 122.087 | Annual Competitive Process for Grants Under Program.

Section 122.088 | Annual Competitive Process Grant Application.

Section 122.089 | Grant Application Contents.

Section 122.0810 | Grant Application Evaluation - Prioritization - Notice of Deficiencies.

Section 122.0811 | Completeness of Application and Eligibility of Project.

Section 122.0812 | Discretionary Grants Outside Annual Competitive Process.

Section 122.0813 | Evaluation of Discretionary Grant Application.

Section 122.0814 | Approval of Grant - Agreement With Applicant.

Section 122.0815 | Project Requirements for Consideration for Grant.

Section 122.0816 | Project Priority Under Annual Competitive Process.

Section 122.0817 | Annual Program Report by Director.

Section 122.0819 | Allowance of Recovery of Committee Costs.

Section 122.0820 | Job Site Ready Development Fund.

Section 122.09 | Transformational Mixed Use Development Tax Credit.

Section 122.10 | Cooperation and Coordination With Other State Departments and Agencies.

Section 122.11 | Classified and Unclassified Employees.

Section 122.12 | Definitions.

Section 122.121 | Site Selection for Major Sporting Event.

Section 122.122 | Sports Event Grant Fund.

Section 122.13 | Definitions.

Section 122.131 | Employee Ownership Assistance Program.

Section 122.132 | Duties of Director of Development.

Section 122.133 | Boards to Assist Employee Ownership Assistance Program.

Section 122.134 | Feasibility Study.

Section 122.135 | Assistance in Studying Feasibility of Employee-Owned Corporation.

Section 122.136 | Annual Report.

Section 122.14 | Roadwork Development Fund.

Section 122.15 | Definitions for Sections 122.151 to 122.156.

Section 122.151 | Certification as a Rural Business Growth Fund.

Section 122.152 | Tax Credit.

Section 122.153 | Tax Credit Certificates; Recapture of Tax Credits.

Section 122.154 | Reports.

Section 122.155 | State Reimbursement Amount.

Section 122.156 | Written Opinion.

Section 122.16 | Economic Redevelopment of Distressed Area.

Section 122.17 | Grants to Foster Job Creation.

Section 122.171 | Tax Credits to Foster Job Retention.

Section 122.172 | Manufacturing Equipment Grant Program.

Section 122.173 | Grant Against Tax for New Manufacturing Machinery Purchase.

Section 122.174 | Tax Incentives Operating Fund.

Section 122.175 | Tax Exemption for Sale, Storage, Use, or Other Consumption of Computer Data Center Equipment.

Section 122.176 | Grants for Employers That Move Into a Previously Vacant Facility.

Section 122.177 | Career Exploration Internship Program.

Section 122.178 | Techcred Program.

Section 122.179 | Industry Sector Partnerships.

Section 122.1710 | Individual Microcredential Assistance Program.

Section 122.1711 | Report to Legislature.

Section 122.18 | Annual Payments to Landlord for Projects Creating New Jobs.

Section 122.19 | Urban and Rural Initiative Grant Program Definitions.

Section 122.20 | Urban and Rural Initiative Grant Program.

Section 122.21 | Urban and Rural Initiative Grant Program Definitions.

Section 122.22 | Grant Eligibility.

Section 122.23 | Rural Industrial Park Loan Program Definitions.

Section 122.24 | Rural Industrial Park Loan Program.

Section 122.25 | Administration of Program - Park Use.

Section 122.26 | Rural Industrial Park Loan Fund.

Section 122.27 | Eligibility for Financial Assistance.

Section 122.28 | Industrial Technology and Enterprise Advisory Council Definitions.

Section 122.30 | Powers and Duties.

Section 122.31 | Payment Sources for Expenses and Obligations.

Section 122.32 | Accepting Using Contributions.

Section 122.33 | Administration of Programs.

Section 122.34 | Purposes.

Section 122.35 | Depositing Receipts.

Section 122.36 | Confidential Information.

Section 122.37 | Steel Futures Program.

Section 122.38 | Small Business Innovation Research Grant Program.

Section 122.39 | Definitions for r.c. 122.41 to 122.62.

Section 122.40 | Definitions for r.c. 122.40 to 122.4077 - Residential Broadband Expansion.

Section 122.401 | Residential Broadband Expansion Grant Program.

Section 122.403 | Broadband Expansion Program Authority.

Section 122.406 | Authority Consideration of Program Applications.

Section 122.407 | Authority Duties.

Section 122.408 | Authority Hearings.

Section 122.4010 | Authority Annual Report of Findings and Recommendations.

Section 122.4013 | Grant Applications by Broadband Providers.

Section 122.4015 | Grants Only for Eligible Projects.

Section 122.4016 | Ineligible Projects.

Section 122.4017 | Funds for Grants.

Section 122.4018 | Grants Limited by Available Funds.

Section 122.4019 | Application Submission.

Section 122.4020 | Application Requirements.

Section 122.4021 | Conditions for Grants.

Section 122.4023 | Proprietary or Trade Secret Evaluations.

Section 122.4024 | Notification of Published Applications.

Section 122.4025 | Video Service Provider Fees Contributed to Funding Gap.

Section 122.4030 | Application Challenges.

Section 122.4031 | Evidence Sufficient to Successfully Challenge.

Section 122.4033 | Authority Actions Regarding a Challenge.

Section 122.4034 | Revision, Resubmission of Successfully Challenged Applications.

Section 122.4035 | Review of Resubmitted Applications.

Section 122.4036 | Sanctions for Challenging Provider's Failure to Provide Service.

Section 122.4037 | Disposition of Sanction Amounts.

Section 122.4040 | Weighted Scoring System for Applications.

Section 122.4041 | Weighted Scoring System Priorities.

Section 122.4043 | Grant Awards.

Section 122.4044 | Grant Disbursement.

Section 122.4045 | Speed Verification Tests.

Section 122.4046 | Noncompliance With Requirements.

Section 122.4050 | County Request Application Solicitation.

Section 122.4051 | Solicitation on Behalf of County.

Section 122.4053 | Response Application Compliance.

Section 122.4055 | No Responsibility for Lack of Response.

Section 122.4060 | Grant Required for Eligible Project to Proceed.

Section 122.4061 | Financial Responsibility Before Project Completion.

Section 122.4063 | Ownership or Transfer of Broadband Infrastructure.

Section 122.4070 | Annual and Operational Reports.

Section 122.4071 | Report Contents and Public Availability.

Section 122.4073 | Due Date and Extensions for Reports.

Section 122.4075 | Reports, Documents Confidential.

Section 122.4076 | Annual Program Report by Authority.

Section 122.4077 | Residential Broadband Expansion Grant Rules.

Section 122.41 | Director's Powers and Duties Under Chapter 122.

Section 122.42 | Director's Powers and Duties Under r.c. 122.41 to 122.62.

Section 122.43 | Lending Funds.

Section 122.44 | Terms of Loans.

Section 122.45 | Loans to Political Subdivisions.

Section 122.451 | Insuring Mortgage Payments.

Section 122.46 | Purchase, Sale, Improvement of Property for Industrial, Commercial, Distribution or Research Facilities.

Section 122.47 | Issuing Bonds.

Section 122.48 | Issuing Revenue Bonds.

Section 122.49 | Using Bond Proceeds.

Section 122.50 | Bonds Not a Debt of State.

Section 122.51 | Bonds Are Lawful Investments.

Section 122.52 | Issuing Revenue Refunding Bonds.

Section 122.53 | Bonds Secured by Trust Agreements.

Section 122.54 | Direct Loan Program Fund.

Section 122.55 | Purchase Fund of the Director of Development.

Section 122.56 | Mortgage Guarantee Fund.

Section 122.561 | Mortgage Insurance Fund.

Section 122.57 | Distributing Income to Separate Sinking Funds.

Section 122.571 | Revenue Bond Guaranty Fund.

Section 122.58 | Investing Funds.

Section 122.59 | Proceedings in Default.

Section 122.60 | Capital Access Loan Program Definitions.

Section 122.601 | Capital Access Loan Program Fund.

Section 122.602 | Capital Access Loan Program.

Section 122.603 | Program Reserve Account.

Section 122.604 | Recovering Delinquent Loan Amount From Program Reserve Account.

Section 122.605 | Annual Report.

Section 122.61 | Tax Exemptions.

Section 122.62 | Keeping Funds in Depositories Selected by Director.

Section 122.63 | Housing Needs.

Section 122.64 | Business Services Division.

Section 122.641 | The Lakes in Economic Distress Revolving Loan Program.

Section 122.65 | Brownfield Revitalization Project Definitions.

Section 122.651 | Clean Ohio Council.

Section 122.652 | Grant or Loan for a Brownfield Cleanup or Remediation Project.

Section 122.653 | Application Approval.

Section 122.654 | Determining Compliance With Applicable Cleanup Standards.

Section 122.655 | No Further Action Letters.

Section 122.656 | Grant to Pay Cost of Assessment for Cleanup or Remediation of Brownfield, or Public Health Project.

Section 122.657 | Establishing Policies and Requirements.

Section 122.658 | Clean Ohio Revitalization Fund - Revolving Loan Fund.

Section 122.659 | Effect on Other Provisions.

Section 122.6510 | Brownfields Revolving Loan Fund.

Section 122.6511 | Brownfield Remediation Program.

Section 122.6512 | Building Demolition and Site Revitalization Program.

Section 122.66 | Office of Community Services Definitions.

Section 122.67 | Community Services Division.

Section 122.68 | Powers and Duties.

Section 122.681 | Confidentiality of Information.

Section 122.69 | Endorsement of Community Action Agency.

Section 122.70 | Board of Directors of Community Action Agency - Powers and Duties.

Section 122.701 | Designating New or Rescinding Former Designation.

Section 122.702 | Hearings on Use of Community Services Block Grant Funds.

Section 122.71 | Minority Development Financing Advisory Board Definitions.

Section 122.72 | Minority Development Financing Advisory Board.

Section 122.73 | Powers and Duties.

Section 122.74 | Director of Development - Powers and Duties.

Section 122.75 | Director of Development - Duties Regarding Minority Programs.

Section 122.751 | Certifying Loan Applicants.

Section 122.76 | Loan Criteria.

Section 122.77 | Loan Guarantees.

Section 122.78 | Terms, Conditions, and Provisions of Loans and Guarantees.

Section 122.79 | Tax Exemptions.

Section 122.80 | Minority Business Enterprise Loan Fund.

Section 122.81 | Default on Loan, Guarantee, or Lease.

Section 122.82 | Moneys, Funds, Properties, and Assets Held in Trust.

Section 122.83 | Prohibiting Misrepresentation.

Section 122.84 | Tax Credit for Investors in Multiple Qualified Opportunity Funds.

Section 122.85 | Tax Credit-Eligible Productions.

Section 122.851 | Certification as Ohio Venture Capital Operating Company.

Section 122.86 | Small Business Investment Certificate; Tax Credit.

Section 122.861 | Diesel Emissions Reduction Grant and Loan Programs.

Section 122.862 | Sellohio Global Initiative Fund.

Section 122.87 | Minority Business Bonding Program Definitions.

Section 122.88 | Minority Business Bonding Fund - Minority Business Bonding Program Administrative and Loss Reserve Fund.

Section 122.89 | Executing Bonds as Surety.

Section 122.90 | Guarantee of Bonds Executed by Sureties for Minority Businesses and Edge Business Enterprises.

Section 122.92 | Minority Business Development Division.

Section 122.921 | [Former r.c. 123.151, Amended and Renumbered by h.b. 110, 134th General Assembly, Effective 9/30/2021] Rules for Certification as Minority Business Enterprises; State Agency, Port Authority Reports.

Section 122.922 | [Former r.c. 123.152, Amended and Renumbered by h.b. 110, 134th General Assembly, Effective 9/30/2021] Encouraging Diversity, Growth, and Equity Program.

Section 122.923 | [Former r.c. 123.153, Amended and Renumbered by h.b. 110, 134th General Assembly, Effective 9/30/2021] Report on Programs.

Section 122.924 | [Former r.c 123.154, Amended and Renumbered by h.b. 110, 134th General Assembly, Effective 9/30/2021] Women-Owned Business Enterprise Program.

Section 122.925 | [Former r.c. 9.318, Amended and Renumbered by h.b. 110, 134th General Assembly, Effective 9/30/2021] Veteran-Friendly Business Procurement Program.

Section 122.93 | Accepting Gifts and Other Aid.

Section 122.94 | Rules - Annual Report.

Section 122.941 | Annual Report.

Section 122.942 | Project Information to Be Made Public.

Section 122.95 | Definitions - Industrial Site Improvement Fund Grants.

Section 122.951 | Grants From Industrial Site Improvement Fund.

Section 122.9511 | Siteohio Certification Program.

Section 122.9512 | Siteohio Administration Fund.

Section 122.96 | Delegation of Authority.

Section 122.98 | Ohio Aerospace and Aviation Technology Committee.

Section 122.99 | Penalty.