reglab/housing_qa huggingface dataset:
Ohio Rev Code § 122.561 (2021)
2021 Ohio Revised Code|Title 1 | State Government|Chapter 122 | Department of Development|Section 122.561 | Mortgage Insurance Fund.

Effective: September 28, 2012|Latest Legislation:  Senate Bill 314 - 129th General Assembly|The mortgage insurance fund of the director of development services is hereby created to consist of all money allocated by the director from the proceeds of the sale of any issue of revenue bonds, to the extent and subject to the conditions provided in the proceedings authorizing such bonds or in the trust agreements securing such bonds, for the purpose of insuring mortgage payments pursuant to section 122.451 of the Revised Code, all grants and contributions made to the director for such purpose, all moneys deposited or credited to the mortgage insurance fund pursuant to section 169.05 of the Revised Code, all other moneys and property designated by the director and by law for such purpose, all mortgage insurance premiums charged and collected as provided in this section, and all receipts and proceeds from the sale, disposal, lease, or rental of real or personal property which the director may hold as a result of a default in an insured mortgage. The director shall fix mortgage insurance premiums for the insurance of mortgage payments pursuant to section 122.451 of the Revised Code, to be computed as a percentage of the principal obligation of the mortgage outstanding at the beginning of each mortgage year. Such insurance premiums shall not be more than three per cent per annum of the outstanding principal obligation, and shall be calculated on the basis of all pertinent available data. Such premiums shall be payable by the mortgagors or the mortgagees in such manner as is prescribed by the director. The amount of premium need not be uniform among the various mortgages insured. The director may provide for the custody, investment, and use of the unclaimed funds trust fund created by section 169.05 of the Revised Code and all mortgage insurance premiums, including the payment therefrom of the expenses and costs of the director in insuring mortgage payments pursuant to section 122.451 of the Revised Code. Any financial statements or financial data submitted to the director or the controlling board in connection with any application for the insurance of mortgage payments, or any information taken from such statements or data, is not open to public inspection.
Ohio Rev Code § 122.57 (2021)
2021 Ohio Revised Code|Title 1 | State Government|Chapter 122 | Department of Development|Section 122.57 | Distributing Income to Separate Sinking Funds.

Effective: September 28, 2012|Latest Legislation:  Senate Bill 314 - 129th General Assembly|All payments of principal of and interest on the loans made by the director of development services, all rentals received under leases made by the director, and all proceeds of the sale or other disposition of property held by the director shall be placed in separate sinking funds to the extent provided in the proceedings authorizing revenue bonds which are hereby pledged to and charged with the payment of interest on, principal of and redemption premium on, the revenue bonds issued pursuant to sections 122.39 and 122.41 to 122.62 of the Revised Code to the extent provided in the proceedings authorizing and the trust agreements securing such bonds. The moneys therein in excess of the amounts required by the bond proceedings and trust agreements and all payments not so required to be paid into such sinking funds shall be retained or placed in such fund or in the other funds provided for by sections 122.35, 122.54, 122.42, 122.55, 122.56, 122.561, and 122.57 of the Revised Code as the director shall determine, and shall be available for the uses for which such funds are established.
Ohio Rev Code § 122.571 (2021)
2021 Ohio Revised Code|Title 1 | State Government|Chapter 122 | Department of Development|Section 122.571 | Revenue Bond Guaranty Fund.

Effective: July 14, 1983|Latest Legislation:  Senate Bill 227 - 115th General Assembly|In addition to the separate sinking funds created under section 122.57 of the Revised Code, there is hereby created the revenue bond guaranty fund to consist of all money allocated by the director of development to guarantee payment of interest on, principal of and redemption premium on, the revenue bonds issued by the director under Chapter 122. of the Revised Code, all grants, gifts, and contributions made to the director for such purpose, and all money and property provided by law for such purpose.
Ohio Rev Code § 122.58 (2021)
2021 Ohio Revised Code|Title 1 | State Government|Chapter 122 | Department of Development|Section 122.58 | Investing Funds.

Effective: September 29, 2013|Latest Legislation:  House Bill 59 - 130th General Assembly|Moneys in the funds established pursuant to Chapter 122. of the Revised Code, except as otherwise provided in any proceedings authorizing revenue bonds or in any trust agreement securing such bonds, in excess of current needs, may be invested in notes, bonds, or other obligations which are direct obligations of or are guaranteed by the United States, in certificates of deposit or other withdrawable accounts of banks, trust companies, and building and loan or savings and loan associations organized under the laws of the state or the United States, or in the manner provided in any agreement entered into pursuant to section 169.05 of the Revised Code. Income from all such investments of moneys in any fund shall be credited to such funds as the director of development determines subject to the provisions of any bond issuance proceedings or trust agreement, and such investments may be sold at such time as the director shall determine, provided certificates of deposit or other withdrawable accounts may be sold only in accordance with division (B) of section 169.05 or divisions (E) and (F) of section 169.08 of the Revised Code.
Ohio Rev Code § 122.59 (2021)
2021 Ohio Revised Code|Title 1 | State Government|Chapter 122 | Department of Development|Section 122.59 | Proceedings in Default.

Effective: July 14, 1983|Latest Legislation:  Senate Bill 227 - 115th General Assembly|In the event of a default with respect to any loan or lease, the director of development shall take such action as he deems proper in the circumstances to enforce and protect the rights of the director, and such action as may be required by the provisions of any proceedings authorizing the revenue bonds or of any trust agreement securing such bonds, which may include any appropriate action at law or in equity, enforcement or waiver of any provision of any mortgage or security agreement or lease, or reinstatement of any forfeited or cancelled right, title, or privilege. Notwithstanding any such action, the director shall transfer from the mortgage guarantee fund created by section 122.56 of the Revised Code to the sinking fund or funds referred to in section 122.57 of the Revised Code amounts not greater than the amounts which would have been paid upon such loan or under such lease but for such default, at the time or times when such amounts would have been paid but for such defaults, to the extent provided in the proceedings authorizing and the trust agreements securing such bonds, to be held and applied as other moneys in the sinking fund, and shall make such other transfers and take such other action as shall be required of the director by any such bond issuance proceedings or trust agreement.
Ohio Rev Code § 122.60 (2021)
2021 Ohio Revised Code|Title 1 | State Government|Chapter 122 | Department of Development|Section 122.60 | Capital Access Loan Program Definitions.

Effective: September 30, 2021|Latest Legislation:  House Bill 110 - 134th General Assembly|As used in sections 122.60 to 122.605 of the Revised Code: (A) "Capital access loan" means a loan made by a participating financial institution to an eligible business that may be secured by a deposit of money from the fund into the participating financial institution's program reserve account. (B) "Eligible business" means a for-profit business entity, or a nonprofit entity, that had total annual sales in its most recently completed fiscal year of less than ten million dollars and that has a principal place of for-profit business or nonprofit entity activity within the state, the operation of which, alone or in conjunction with other facilities, will create new jobs or preserve existing jobs and employment opportunities and will improve the economic welfare of the people of the state. As used in this division, "new jobs" does not include existing jobs transferred from another facility within the state, and "existing jobs" means only existing jobs at facilities within the same municipal corporation or township in which the project, activity, or enterprise that is the subject of a capital access loan is located. (C) "Financial institution" means any bank, trust company, savings bank, or savings and loan association that is chartered by and has a significant presence in the state, or any national bank, federal savings and loan association, or federal savings bank that has a significant presence in the state. (D) "Fund" means the capital access loan program fund. (E) "Minority business supplier development council" has the same meaning as in section 122.71 of the Revised Code. (F) "Participating financial institution" means a financial institution that has a valid, current participation agreement with the department of development. (G) "Participation agreement" means the agreement between a financial institution and the department under which a financial institution may participate in the program. (H) "Passive real estate ownership" means the ownership of real estate for the sole purpose of deriving income from it by speculation, trade, or rental. (I) "Program" means the capital access loan program created under section 122.602 of the Revised Code. (J) "Program reserve account" means a dedicated account at each participating financial institution that is the property of the state and may be used by the participating financial institution only for the purpose of recovering a claim under section 122.604 of the Revised Code arising from a default on a loan made by the participating financial institution under the program. Last updated July 30, 2021 at 10:18 AM
Ohio Rev Code § 122.601 (2021)
2021 Ohio Revised Code|Title 1 | State Government|Chapter 122 | Department of Development|Section 122.601 | Capital Access Loan Program Fund.

Effective: September 30, 2021|Latest Legislation:  House Bill 110 - 134th General Assembly|There is hereby created in the state treasury the capital access loan program fund. The fund shall consist of money deposited into it from the minority business enterprise loan fund pursuant to section 122.80 of the Revised Code and the facilities establishment fund pursuant to section 166.03 of the Revised Code and all money deposited into it pursuant to section 122.602 of the Revised Code. The total amount of money deposited into the fund from the minority business enterprise loan fund or the facilities establishment fund shall not exceed three million dollars during any particular fiscal year of the department of development.  The department shall disburse money from the fund only to pay the operating costs of the program, including the administrative costs incurred by the department in connection with the program, and only in keeping with the purposes specified in sections 122.60 to 122.605 of the Revised Code. Last updated July 20, 2021 at 10:10 AM
Ohio Rev Code § 122.604 (2021)
2021 Ohio Revised Code|Title 1 | State Government|Chapter 122 | Department of Development|Section 122.604 | Recovering Delinquent Loan Amount From Program Reserve Account.

Effective: December 13, 2001|Latest Legislation:  House Bill 405 - 124th General Assembly|(A) If a participating financial institution determines that a portion or all of a capital access loan is uncollectible, it may submit a claim to the department of development for approval of the release of moneys from its program reserve account.(B) The claim may include the amount of principal plus accrued interest owed. The amount of principal included in the claim may not exceed the principal amount covered by the program. The amount of accrued interest included in the claim may not exceed the accrued interest attributable to the covered principal amount.(C) The participating financial institution shall determine the timing and amount of delinquency on a capital access loan in a manner consistent with the participating financial institution's normal method for making these determinations on similar nonprogram loans.(D) If the participating financial institution files two or more claims at the same time or approximately the same time and there are insufficient funds in its program reserve account at that time to cover the entire amount of the claims, the participating financial institution may specify an order of priority in which the department shall approve the release of funds from the account in relation to the claims.(E) If subsequent to the payment of a claim, a participating financial institution recovers from an eligible business any amount covered by the paid claim, the participating financial institution shall promptly deposit the amount recovered into its program reserve account, less any reasonable expenses incurred.
Ohio Rev Code § 122.605 (2021)
2021 Ohio Revised Code|Title 1 | State Government|Chapter 122 | Department of Development|Section 122.605 | Annual Report.

Effective: December 13, 2001|Latest Legislation:  House Bill 405 - 124th General Assembly|Each participating financial institution shall submit an annual report to the department of development on or before the thirty-first day of March of each year. The report shall include or be accompanied by all of the following:(A) Information regarding the participating financial institution's outstanding capital access loans, its capital access loan losses, and other related matters that the department considers appropriate;(B) A statement of the total amount of the participating financial institution's capital access loans for which the department has made disbursements from the fund under the program;(C) A copy of the participating financial institution's most recent financial statement.
Ohio Rev Code § 122.61 (2021)
2021 Ohio Revised Code|Title 1 | State Government|Chapter 122 | Department of Development|Section 122.61 | Tax Exemptions.

Effective: September 28, 2012|Latest Legislation:  Senate Bill 314 - 129th General Assembly|The exercise of the powers granted by sections 122.39 and 122.41 to 122.62 of the Revised Code, will be in all respects for the benefit of the people of the state, for the increase of their commerce and prosperity, and for the improvement of conditions of employment, and will constitute the performance of essential governmental functions; therefore the director of development services shall not be required to pay any taxes upon any property or assets held by the director, or upon any property acquired or used by the director under sections 122.39 and 122.41 to 122.62 of the Revised Code, or upon the income therefrom, provided, such exemption shall not apply to any property held by the director while it is in the possession of a private person, partnership, or corporation and used for private purposes for profit. The bonds, notes, or other obligations issued under such sections, their transfer, and the income therefrom, including any profit made on the sale thereof, shall at all times be free from taxation within the state.
Ohio Rev Code § 122.62 (2021)
2021 Ohio Revised Code|Title 1 | State Government|Chapter 122 | Department of Development|Section 122.62 | Keeping Funds in Depositories Selected by Director.

Effective: September 28, 2012|Latest Legislation:  Senate Bill 314 - 129th General Assembly|All moneys received under sections 122.39 and 122.41 to 122.62 of the Revised Code as proceeds from the sale of bonds are trust funds. All moneys received under those sections shall be held and applied solely as provided in such sections and section 166.03 of the Revised Code. All such moneys, except as otherwise provided in any proceedings authorizing revenue bonds or in any trust agreement securing such bonds or except when deposited with the treasurer of state, or except as they may be invested pursuant to section 122.58 of the Revised Code, shall be kept in depositories as selected by the director of development services in the manner provided in sections 135.01 to 135.21 of the Revised Code, insofar as such sections are applicable, and the deposits shall be secured as provided in sections 135.01 to 135.21 of the Revised Code. The proceedings authorizing the issuance of bonds of any issue or the trust agreement securing such bonds shall provide that any official to whom, or any bank or trust company to which, such moneys are paid, shall act as trustee of such moneys and hold and apply them for the purposes of sections 122.39 and 122.41 to 122.62 of the Revised Code, subject to such rules as such sections and such bond issuance proceedings or trust agreement provide.
Ohio Rev Code § 122.63 (2021)
2021 Ohio Revised Code|Title 1 | State Government|Chapter 122 | Department of Development|Section 122.63 | Housing Needs.

Effective: July 1, 2005|Latest Legislation:  House Bill 431 - 125th General Assembly|The department of development shall:(A) Provide technical assistance to sponsors, homeowners, private developers, contractors, and other appropriate persons on matters relating to housing needs and the development, construction, financing, operation, management, and evaluation of housing developments;(B) Carry out continuing studies and analyses of the housing needs of this state and, after conducting public hearings, prepare annually a plan of housing needs, primarily for the use of the department. The plan, copies of which shall be filed with the speaker of the house of representatives and the president of the senate for distribution to the members of the general assembly, shall:(1) Establish areawide housing needs, including existing and projected needs for the provision of an adequate supply of decent, safe, and sanitary housing for low- and moderate-income persons, including housing that may require utilization of state or federal assistance;(2) Establish priorities for housing needs, taking into account the availability of and need for conserving land and other natural resources;(3) Be coordinated with other housing and related planning of the state and of regional planning agencies.(C) Carry out the provisions of Chapter 3735. of the Revised Code relating to metropolitan housing authorities;(D) Carry out the provisions of sections 174.01 to 174.07 of the Revised Code relating to the low- and moderate-income housing trust fund.
Ohio Rev Code § 122.64 (2021)
2021 Ohio Revised Code|Title 1 | State Government|Chapter 122 | Department of Development|Section 122.64 | Business Services Division.

Effective: September 29, 2015|Latest Legislation:  House Bill 64 - 131st General Assembly|(A) There is hereby established in the development services agency a business services division. The division shall be supervised by a deputy director appointed by the director of development services.The division is responsible for the administration of the state economic development financing programs established pursuant to sections 122.17 and 122.18, sections 122.39 and 122.41 to 122.62, and Chapter 166. of the Revised Code.(B) The director of development services shall:(1) Receive applications for assistance pursuant to sections 122.39 and 122.41 to 122.62 and Chapter 166. of the Revised Code. The director shall process the applications.(2) With the approval of the director of administrative services, establish salary schedules for employees of the various positions of employment with the division and assign the various positions to those salary schedules;(3) Employ and fix the compensation of financial consultants, appraisers, consulting engineers, superintendents, managers, construction and accounting experts, attorneys, and other agents for the assistance programs authorized pursuant to sections 122.17 and 122.18, sections 122.39 and 122.41 to 122.62, and Chapter 166. of the Revised Code as are necessary;(4) Supervise the administrative operations of the division;(5) On or before the first day of October in each year, make an annual report of the activities and operations under assistance programs authorized pursuant to sections 122.39 and 122.41 to 122.62 and Chapter 166. of the Revised Code for the preceding fiscal year to the governor and the general assembly. Each such report shall set forth a complete operating and financial statement covering such activities and operations during the year in accordance with generally accepted accounting principles and shall be audited by a certified public accountant. The director of development services shall transmit a copy of the audited financial report to the office of budget and management.
Ohio Rev Code § 122.641 (2021)
2021 Ohio Revised Code|Title 1 | State Government|Chapter 122 | Department of Development|Section 122.641 | The Lakes in Economic Distress Revolving Loan Program.

Effective: September 29, 2017|Latest Legislation:  House Bill 49 - 132nd General Assembly|(A)(1) There is hereby created the lakes in economic distress revolving loan program to assist businesses and other entities that are adversely affected due to economic circumstances that result in the declaration of a lake as an area under economic distress by the director of natural resources under division (A)(2) of this section. The director of development services shall administer the program.(2) The director of natural resources shall do both of the following:(a) Declare a lake as an area under economic distress. The director shall declare a lake as an area under economic distress based solely on environmental or safety issues, including the closure of a dam for safety reasons.(b) Subsequently declare a lake as an area no longer under economic distress when the environmental or safety issues, as applicable, have been resolved.(B) There is hereby created in the state treasury the lakes in economic distress revolving loan fund. The fund shall consist of money appropriated to it, all payments of principal and interest on loans made from the fund, and all investment earnings on money in the fund. The director of development services shall use money in the fund to make loans under this section, provided that the loans shall be zero interest loans during the time that an applicable lake has been declared an area under economic distress under division (A)(2)(a) of this section.(C) The director shall adopt rules in accordance with Chapter 119. of the Revised that do both of the following:(1) Establish requirements and procedures for the making of loans under this section, including all of the following:(a) Eligibility criteria;(b) Application procedures;(c) Criteria for approval or disapproval of loans, including a stipulation that an applicant must demonstrate that the loan will help to achieve long-term economic stability in the area;(d) Criteria for repayment of the loans, including the establishment of an interest rate that does not exceed two points less than prime after an applicable lake has been declared as an area no longer under economic distress under division (A)(2)(b) of this section.The eligibility criteria established by the director shall not require applicants to experience a reduction in gross revenue for a defined period of greater than ten per cent.Any material provided to the development services agency by an applicant is not a public record for the purposes of section 149.43 of the Revised Code and shall remain confidential.(2) Establish any other provisions necessary to administer this section.(D) In administering the program, the director shall assist businesses and other entities in determining the amount of loans needed.