reglab/statecodes huggingface dataset:
2023 Ohio Revised Code › Title 33 | Education-Libraries › Chapter 3333 | Department of Higher Education › Section 3333.71 | Choose Ohio First Co-Op/internship Program Definitions.

Effective:
September 29, 2015
Latest Legislation:
House Bill 64 - 131st General Assembly
As used in sections 3333.71 to 3333.79 of the Revised Code:
(A) "Cooperative education program" means a partnership between students, institutions of higher education, and employers that formally integrates students' academic study with work experience in cooperating employer organizations and that meets all of the following conditions:
(1) Alternates or combines periods of academic study and work experience in appropriate fields as an integral part of student education;
(2) Provides students with compensation from the cooperative employer in the form of wages or salaries for work performed;
(3) Evaluates each participating student's performance in the cooperative position, both from the perspective of the student's institution of higher education and the student's cooperative employer;
(4) Provides participating students with academic credit from the institution of higher education upon successful completion of their cooperative education;
(5) Is part of an overall degree or certificate program for which a percentage of the total program acceptable to the chancellor of higher education involves cooperative education.
(B) "Internship program" means a partnership between students, institutions of higher education, and employers that formally integrates students' academic study with work or community service experience and that does both of the following:
(1) Offers internships of specified and definite duration;
(2) Evaluates each participating student's performance in the internship position, both from the perspective of the student's institution of higher education and the student's internship employer.
An internship program may provide participating students with academic credit upon successful completion of the internship, and may provide students with compensation in the form of wages or salaries, stipends, or scholarships.
(C) "Nonpublic university or college" means a nonprofit institution holding a certificate of authorization issued under Chapter 1713. of the Revised Code.
(D) "State institution of higher education" has the same meaning as in section 3345.011 of the Revised Code.
2023 Ohio Revised Code › Title 33 | Education-Libraries › Chapter 3333 | Department of Higher Education › Section 3333.74 | Private Pledge Required for Program Awards.

Effective:
October 3, 2023
Latest Legislation:
House Bill 33 - 135th General Assembly
(A) Except as provided in division (B) of this section, each award under the Ohio co-op/internship program shall require a pledge of private funds equal to the following:
(1) In the case of a program, initiative, or scholarships for undergraduate students, at least one hundred per cent of the money awarded;
(2) In the case of a program, initiative, or scholarships for graduate students, at least one hundred fifty per cent of the money awarded.
(B) The chancellor of higher education may waive the requirement of division (A) of this section if the chancellor finds that exceptional circumstances exist to do so, provided that the chancellor provides an explanation for the waiver to the controlling board.
(C) The chancellor shall endeavor to distribute awards in such a way that a wide range of disciplines is supported and that all regions of the state benefit from the economic development impact of the program.
Last updated August 2, 2023 at 2:16 PM
2023 Ohio Revised Code › Title 33 | Education-Libraries › Chapter 3333 | Department of Higher Education › Section 3333.75 | Agreement Governing Use of Program Award.

Effective:
September 29, 2015
Latest Legislation:
House Bill 64 - 131st General Assembly
The chancellor of higher education shall require each state institution of higher education that the controlling board approves to receive an award under the Ohio co-op/internship program to enter into an agreement governing the use of the award. The agreement shall contain terms the chancellor determines to be necessary, which shall include performance measures, reporting requirements, and an obligation to fulfill pledges of other institutional, public, or nonpublic resources for the proposal.
The chancellor may require a state institution of higher education that violates the terms of its agreement to repay the award plus interest at the rate required by section 5703.47 of the Revised Code to the chancellor.
If the chancellor makes an award to a program or initiative that is intended to be implemented by a state institution of higher education in collaboration with other state institutions of higher education or nonpublic Ohio universities or colleges, the chancellor may enter into an agreement with the collaborating universities or colleges that permits awards to be received directly by the collaborating universities or colleges consistent with the terms of the program or initiative. In that case, the chancellor shall incorporate into the agreement terms consistent with the requirements of this section.
2023 Ohio Revised Code › Title 33 | Education-Libraries › Chapter 3333 | Department of Higher Education › Section 3333.76 | Recruiting Ohio Residents in Out-of-State Institutions.

Effective:
September 29, 2015
Latest Legislation:
House Bill 64 - 131st General Assembly
The chancellor of higher education shall encourage state institutions of higher education, alone or in collaboration with other state institutions of higher education or nonpublic Ohio universities and colleges, to submit proposals under the Ohio co-op/internship program for initiatives that recruit Ohio residents enrolled in colleges and universities in other states or other countries to return to Ohio and enroll in state institutions of higher education or nonpublic Ohio universities and colleges as graduate students in a high quality academic program that uses a cooperative education program, a significant internship program in a private industry or institutional laboratory, or a similar model involving a variation of cooperative education or internship programs common to graduate education, and is in an educational area, industry, or industry sector of need.
The chancellor may encourage state institutions of higher education, alone or in collaboration with other state institutions of higher education or nonpublic Ohio universities and colleges, to submit proposals for initiatives that recruit Ohio residents who have received baccalaureate degrees to remain in Ohio and enroll in state institutions of higher education or nonpublic Ohio universities and colleges as graduate students in a high quality academic program of the type described in the preceding paragraph.
2023 Ohio Revised Code › Title 33 | Education-Libraries › Chapter 3333 | Department of Higher Education › Section 3333.77 | Proposal Preference to Institution for Future Years.

Effective:
September 29, 2015
Latest Legislation:
House Bill 64 - 131st General Assembly
When making an award under the Ohio co-op/internship program, the chancellor of higher education, subject to approval by the controlling board, may commit to giving a state institution of higher education's proposal preference for future awards after the current fiscal year or fiscal biennium. A proposal's eligibility for future awards remains conditional on all of the following:
(A) Future appropriations of the general assembly;
(B) The institution's adherence to the agreement entered into under section 3333.75 of the Revised Code, including its fulfillment of pledges of other institutional, public, or nonpublic resources;
(C) A demonstration that the students participating in the programs and initiatives or receiving scholarships financed by the awards are satisfied with the institutions selected by the chancellor to offer the programs, initiatives, or scholarships financed by the awards.
The chancellor and the controlling board shall not commit to awarding any proposal for a period that exceeds five fiscal years. However, when an award, or the commitment for an award, expires, a state institution of higher education may apply for a new award.
2023 Ohio Revised Code › Title 33 | Education-Libraries › Chapter 3333 | Department of Higher Education › Section 3333.78 | Monitor of Initiatives for Which Awards Granted.

Effective:
September 29, 2015
Latest Legislation:
House Bill 64 - 131st General Assembly
The chancellor of higher education shall monitor each initiative for which an award is granted under the Ohio co-op/internship program to ensure the following:
(A) Fiscal accountability, so that the award is used in accordance with the agreement entered into under section 3333.75 of the Revised Code;
(B) Operating progress, so that the initiative is managed to achieve the goals stated in the proposal and in the agreement, and so that problems may be promptly identified and remedied;
(C) Desired outcomes, so that the initiative contributes to the program's goal of retaining Ohio's students after graduation.
2023 Ohio Revised Code › Title 33 | Education-Libraries › Chapter 3333 | Department of Higher Education › Section 3333.79 | Ohio Co-Op/internship Program Minority Outreach.

Effective:
September 30, 2021
Latest Legislation:
House Bill 110 - 134th General Assembly
(A) As used in this section, "minority" has the same meaning as in section 184.17 of the Revised Code. The term also includes an individual who is economically disadvantaged.
(B) The chancellor of higher education shall conduct outreach activities in Ohio that seek to include minorities in the Ohio co-op/internship program established under section 3333.72 of the Revised Code. The outreach activities shall include the following, when appropriate:
(1) Identifying and partnering with historically black colleges and universities;
(2) Working with all institutions of higher education in the state to support minority faculty and students involved in cooperative and intern programs;
(3) Developing a plan to contact by telephone minorities and other economically disadvantaged individuals to notify them of opportunities to participate in the co-op/internship program;
(4) Identifying minority professional and trade associations and economic development assistance organizations and notifying them of the co-op/internship program;
(5) Partnering with regional technology councils to foster local efforts to support minority participation in the co-op/internship program.
(C) To the extent possible, outreach activities described in this section shall be conducted in conjunction with the EDGE program created in section 122.922 of the Revised Code.
Last updated October 4, 2021 at 1:35 PM
2023 Ohio Revised Code › Title 33 | Education-Libraries › Chapter 3333 | Department of Higher Education › Section 3333.81 | Clearinghouse of Computer-Based Courses Definitions.

Effective:
September 29, 2013
Latest Legislation:
House Bill 59 - 130th General Assembly
As used in sections 3333.81 to 3333.88 of the Revised Code:
(A) "Clearinghouse" means the clearinghouse established under section 3333.82 of the Revised Code.
(B) "Community school" means a community school established under Chapter 3314. of the Revised Code.
(C) "Common statewide platform" means a software program that facilitates the delivery of courses via computers from multiple course providers to multiple end users, tracks the progress of the end user, and includes an integrated searchable database of standards-based course content.
(D) "Course provider" means a school district, community school, STEM school, state institution of higher education, private college or university, or nonprofit or for-profit private entity that creates or is an agent of the creator of original course content for a course offered through the clearinghouse.
(E) "Instructor" means an individual who holds a license issued by the state board of education, as defined in section 3319.31 of the Revised Code, or an individual employed as an instructor or professor by a state institution of higher education or a private college or university.
(F) "State institution of higher education" has the same meaning as in section 3345.011 of the Revised Code.
(G) "STEM school" means a science, technology, engineering, and mathematics school established under Chapter 3326. of the Revised Code.
(H) A "student's community school" means the community school in which the student is enrolled instead of being enrolled in a school operated by a school district.
(I) A "student's school district" means the school district operating the school in which the student is lawfully enrolled.
(J) A "student's STEM school" means the STEM school in which the student is enrolled instead of being enrolled in a school operated by a school district.
(K) "School district" means a city, exempted village, local, or joint vocational school district.
(L) "Digital texts" has the same meaning as defined in section 3317.06 of the Revised Code.
2023 Ohio Revised Code › Title 33 | Education-Libraries › Chapter 3333 | Department of Higher Education › Section 3333.83 | Enrollment in Clearinghouse Course - Participation - Withdrawal.

Effective:
September 29, 2015
Latest Legislation:
House Bill 64 - 131st General Assembly
(A) Each school district, community school, and STEM school shall encourage students to take advantage of the distance learning opportunities offered through the clearinghouse and shall assist any student electing to participate in the clearinghouse with the selection and scheduling of courses that satisfy the district's or school's curriculum requirements and promote the student's post-secondary college or career plans.
(B) For each student enrolled in a school operated by a school district or in a community school or STEM school who is enrolling in a course provided through the clearinghouse by another school district, community school, or STEM school, the student's school district, community school, or STEM school shall transmit the student's name to the course provider.
The course provider may request from the student's school district, community school, or STEM school other information from the student's school record. The district or school shall provide the requested information only in accordance with section 3319.321 of the Revised Code.
(C) The student's school district, community school, or STEM school shall determine the manner in which and facilities at which the student shall participate in the course consistent with specifications for technology and connectivity adopted by the chancellor of higher education.
(D) A student may withdraw from a course prior to the end of the course only by a date and in a manner prescribed by the student's school district, community school, or STEM school.
(E) A student who is enrolled in a school operated by a school district or in a community school or STEM school and who takes a course through the clearinghouse shall be counted in the formula ADM of a school district under section 3317.03 of the Revised Code as if the student were taking the course from the student's school district, community school, or STEM school.
2023 Ohio Revised Code › Title 33 | Education-Libraries › Chapter 3333 | Department of Higher Education › Section 3333.84 | Fees Charged for Texts or Courses Offered Through Clearinghouse.

Effective:
September 29, 2015
Latest Legislation:
House Bill 64 - 131st General Assembly
(A) The fee charged for any digital text or course offered through the clearinghouse shall be set by the provider.
(B) The chancellor of higher education shall prescribe the manner in which the fee for a digital text or course shall be collected or deducted from the school district, school, college or university, or individual subscribing to the digital text or course and in which manner the fee shall be paid to the provider.
(C) The chancellor may retain a percentage of the fee charged for a digital text or course to offset the cost of maintaining and operating the clearinghouse, including the payment of compensation for an entity or a private entity that is under contract with the chancellor under division (F) of section 3333.82 of the Revised Code. The percentage retained shall be determined by the chancellor.
(D) Nothing in this section shall be construed to require the school district, community school, or STEM school in which a student is enrolled to pay the fee charged for a digital text or course taken by the student.
2023 Ohio Revised Code › Title 33 | Education-Libraries › Chapter 3333 | Department of Higher Education › Section 3333.85 | Assignment of Course Grade; Credit.

Effective:
September 29, 2011
Latest Legislation:
House Bill 153 - 129th General Assembly
(A) The grade for a student enrolled in a school operated by a school district or in a community school or STEM school for a course provided through the clearinghouse by another school district, community school, or STEM school shall be assigned by the course provider and shall be transmitted to the student's school district, community school, or STEM school.
(B) The district or school enrolling the student shall award the student credit for successful completion of the course. The credit awarded shall be equivalent to any credit that would be granted for successful completion of a similar course offered by the district or school.
(C) No district or school shall prohibit or otherwise limit any student's access to or participation in courses offered through the clearinghouse, or refuse to recognize such courses as fulfilling curriculum requirements, including the requirements for a high school diploma under section 3313.603 of the Revised Code.
2023 Ohio Revised Code › Title 33 | Education-Libraries › Chapter 3333 | Department of Higher Education › Section 3333.86 | Offering of Course as Dual Enrollment Program.

Effective:
October 3, 2023
Latest Legislation:
House Bill 33 - 135th General Assembly
The chancellor of higher education may determine the manner in which a course included in the clearinghouse may be offered as an advanced standing program as defined in section 3313.6013 of the Revised Code, may be offered to students who are enrolled in nonpublic schools or are educated at home pursuant to section 3321.042 of the Revised Code, or may be offered at times outside the normal school day or school week, including any necessary additional fees and methods of payment for a course so offered.
Last updated September 12, 2023 at 1:14 PM
2023 Ohio Revised Code › Title 33 | Education-Libraries › Chapter 3333 | Department of Higher Education › Section 3333.87 | Clearinghouse Implementation Rules.

Effective:
October 3, 2023
Latest Legislation:
House Bill 33 - 135th General Assembly
The chancellor of higher education and the department of education and workforce jointly shall adopt rules in accordance with Chapter 119. of the Revised Code prescribing procedures for the implementation of sections 3333.81 to 3333.86 of the Revised Code.
Last updated September 12, 2023 at 1:15 PM
2023 Ohio Revised Code › Title 33 | Education-Libraries › Chapter 3333 | Department of Higher Education › Section 3333.88 | Alternative Means for Offering Computer-Based Courses.

Effective:
September 23, 2008
Latest Legislation:
House Bill 562 - 127th General Assembly
Nothing in sections 3333.81 to 3333.87 of the Revised Code, or in rules implementing those sections, shall prohibit a school district, community school, STEM school, or college or university from offering an interactive distance learning course or other distance learning course using a computer-based method through any means other than the clearinghouse established and maintained under those sections.
2023 Ohio Revised Code › Title 33 | Education-Libraries › Chapter 3333 | Department of Higher Education › Section 3333.90 | Course and Program Sharing Network.

Effective:
September 29, 2015
Latest Legislation:
House Bill 64 - 131st General Assembly
(A) The chancellor of higher education shall establish a course and program sharing network that enables members of the university system of Ohio and adult career centers to share curricula for existing courses and academic programs with one another. The purpose of the network shall be to increase course availability across the state and to avoid unnecessary course duplication through the sharing of existing curricula.
(B) The chancellor shall adopt rules to administer the course and program sharing network established under this section.
(C) As used in this section, "member of the university system of Ohio" has the same meaning as in section 3345.011 of the Revised Code.
2023 Ohio Revised Code › Title 33 | Education-Libraries › Chapter 3333 | Department of Higher Education › Section 3333.91 | Plan for the Adult Basic and Literacy Education Program.

Effective:
October 3, 2023
Latest Legislation:
House Bill 33 - 135th General Assembly
The governor's office of workforce transformation, in collaboration with the chancellor of higher education, the director of education and workforce, and the department of job and family services, shall develop and submit to the appropriate federal agency a single, state unified plan required under the "Workforce Innovation and Opportunity Act," 29 U.S.C. 3101 et seq., which shall include the information required for the adult basic and literacy education program administered by the United States secretary of education and the "Carl D. Perkins Vocational and Technical Education Act," 20 U.S.C. 2301, et seq., as amended. Following the plan's initial submission to the appropriate federal agency, the governor's office of workforce transformation may update it as necessary. If the plan is updated, the governor's office of workforce transformation shall submit the updated plan to the appropriate federal agency.
Last updated September 12, 2023 at 1:16 PM
2023 Ohio Revised Code › Title 33 | Education-Libraries › Chapter 3333 | Department of Higher Education › Section 3333.92 | Participation in Adult Basic and Literacy Education; Creation of Account With Ohiomeansjobs Website.

Effective:
September 29, 2017
Latest Legislation:
House Bill 49 - 132nd General Assembly
(A) As used in this section, "OhioMeansJobs web site" has the same meaning as in section 6301.01 of the Revised Code.
(B)(1) Each participant in an adult basic and literacy education funded training or education program shall create an account with the OhioMeansJobs web site at the twelfth week of the program.
(2) Each participant in an Ohio technical center funded training or education program shall create an account with the OhioMeansJobs web site at the time of enrollment in the program.
(C) Division (B) of this section does not apply to any individual who is legally prohibited from using a computer, has a physical or visual impairment that makes the individual unable to use a computer, or has a limited ability to read, write, speak, or understand a language in which the OhioMeansJobs web site is available.
2023 Ohio Revised Code › Title 33 | Education-Libraries › Chapter 3333 | Department of Higher Education › Section 3333.94 | Inventory of Credit and Non-Credit Certificate Programs and Industry-Recognized Credentials; Preferential Funding.

Effective:
September 29, 2017
Latest Legislation:
House Bill 49 - 132nd General Assembly
(A) As used in this section:
(1) "In-demand job" means a job that is determined to be in demand in this state and its regions under section 6301.11 of the Revised Code.
(2) "Ohio technical center" means a center that provides adult technical education services and is recognized by the chancellor of higher education.
(3) "State institution of higher education" has the same meaning as in section 3345.011 of the Revised Code.
(B) Not later than January 1, 2018, the chancellor of higher education shall create an inventory of both credit and non-credit certificate programs and industry-recognized credentials offered at state institutions of higher education and Ohio technical centers that align with in-demand jobs in the state.
When awarding funds from the OhioMeansJobs workforce development revolving loan fund established under section 6301.14 of the Revised Code, the chancellor shall give preference to certificate programs that support adult learners and are included in the inventory.
2023 Ohio Revised Code › Title 33 | Education-Libraries › Chapter 3333 | Department of Higher Education › Section 3333.95 | Efficiency Advisory Committee.

Effective:
September 29, 2017
Latest Legislation:
House Bill 49 - 132nd General Assembly
The chancellor of higher education shall maintain an efficiency advisory committee for the purpose of generating institutional efficiency reports for campuses, identifying shared services opportunities, streamlining administrative operations, and sharing best practices in efficiencies among public institutions of higher education. The committee shall meet at the call of the chancellor or the chancellor's designee. Each state institution of higher education shall designate an employee to serve as its efficiency officer responsible for the evaluation and improvement of operational efficiencies on campus. Each efficiency officer shall serve on the efficiency advisory committee.
By the thirty-first day of December of each year, the chancellor of higher education shall provide a report to the office of budget and management, the governor, the president of the senate, and the speaker of the house of representatives compiling efficiency reports from all public institutions of higher education. The report shall also be made available to the public on the department of higher education's web site.
2023 Ohio Revised Code › Title 33 | Education-Libraries › Chapter 3333 | Department of Higher Education › Section 3333.951 | Higher Education Textbook Study.

Effective:
September 29, 2017
Latest Legislation:
House Bill 49 - 132nd General Assembly
(A) As used in this section, "state institution of higher education" has the same meaning as in section 3345.011 of the Revised Code.
(B) Each state institution of higher education that is co-located with another state institution of higher education annually shall review best practices and shared services in order to improve academic and other services and reduce costs for students. Each state institution shall report its findings to the efficiency advisory committee established under section 3333.95 of the Revised Code. The committee shall include the information reported under this section in the committee's annual report.
(C) Each state institution of higher education annually shall report to the efficiency advisory committee on its efforts to reduce textbook costs to students.
(D) Each state institution of higher education shall conduct a study to determine the current cost of textbooks for students enrolled in the institution, and shall submit the study to the chancellor of higher education annually by a date prescribed by the chancellor.
2023 Ohio Revised Code › Title 33 | Education-Libraries › Chapter 3333 | Department of Higher Education › Section 3333.99 | Governing Boards of State Colleges and Universities Retain Former Powers and Duties.

Effective:
September 20, 1963
Latest Legislation:
House Bill 214 - 105th General Assembly
Except as expressly provided in Chapter 3333. nothing in such Chapter shall be construed to deprive the governing boards of the state colleges and universities of the duties and powers conferred upon them by law in the government of the institutions under their control.
2023 Ohio Revised Code › Title 33 | Education-Libraries › Chapter 3334 | College Savings Program; Variable College Savings Program › Section 3334.02 | Establishment of College Savings and Variable College Savings Programs.

Effective:
March 30, 2018
Latest Legislation:
Senate Bill 22 - 132nd General Assembly
(A) In order to help make higher education affordable and accessible to all citizens of Ohio, to maintain state institutions of higher education by helping to provide a stable financial base to these institutions, to provide the citizens of Ohio with financing assistance for higher education and protection against rising tuition costs, to encourage saving to enhance the ability of citizens of Ohio to obtain financial access to institutions of higher education, to encourage elementary and secondary students in this state to achieve academic excellence, and to promote a well-educated and financially secure population to the ultimate benefit of all citizens of the state of Ohio, there is hereby created the Ohio college savings program. The program shall consist of the issuance of college savings bonds and the sale of tuition units.
(B) The provisions of Chapter 1707. of the Revised Code shall not apply to tuition units or any agreement or transaction related thereto.
(C) To provide the citizens of Ohio with a choice of tax-advantaged college savings programs and the opportunity to participate in more than one type of college savings program at a time, the Ohio tuition trust authority shall establish and administer a variable college savings program as a qualified state tuition program under section 529 of the Internal Revenue Code. The program shall allow contributors to make cash contributions to variable college savings program accounts created for the purpose of paying future higher education expenses and providing variable rates of return on contributions.
(D) A person may participate simultaneously in both the Ohio college savings program and the variable college savings program.
2023 Ohio Revised Code › Title 33 | Education-Libraries › Chapter 3334 | College Savings Program; Variable College Savings Program › Section 3334.04 | College Savings Bonds.

Effective:
April 13, 1990
Latest Legislation:
House Bill 434 - 118th General Assembly
(A) Any bonds authorized for issuance by any issuing authority may, with the approval of the Ohio tuitition trust authority and at the option of the issuing authority, be designated as college savings bonds in accordance with this chapter. Bonds so designated shall be known as college savings bonds. The issuer shall sell as college savings bonds as many bonds from such an issue as is practical.
(B) Issuing authorities designating bonds as a college savings bonds issue, with the approval of the authority, may delegate to the treasurer of state the powers and duties related to the issuance and retirement of the bonds as provided by law. The financing costs, including the expenses incurred by the treasurer of the state in performing the powers and duties, are payable as provided in the bond proceedings from the bond proceeds, special funds, or other moneys available.
(C) In connection with the authority granted by division (B) of this section, the issuer, with the approval of the authority, may contract for services of financial consultants, accounting experts, marketing, remarketing, underwriter and administrative agents, and other consultants and independent contractors as the issuer determines necessary to carry out such powers and duties.
(D) Notwithstanding any limitation to the contrary, college savings bonds may be sold at public or private sale in a manner which assures, to the extent practicable, the broadest retail distribution of the bonds to investors residing in the state.
(E) Holders of college savings bonds have all of the rights and remedies accorded to such holders under the provisions of the law pursuant to which such bonds are issued, whether or not issuance of such bonds has been delegated to the treasurer of state pursuant to division (B) of this section. In addition, the bond proceedings or other documents pertaining to the bonds may contain such covenants of the issuer and other matters deemed advisable by the issuer in consultation with the authority, including the terms and conditions for creating and maintaining sinking funds, reserve funds, and any other special funds as may be created in the bond proceedings separate and apart from all other funds and accounts of the state or of the issuing authority.
(F) In advertising or promoting the sale of college savings bonds, the issuer and the authority jointly may encourage purchasers to apply the value at maturity of college savings bonds toward the cost of tuition at an institution of higher education; however, neither the authority, the treasurer of state, nor the issuing authority or the issuer shall provide any guarantee, nor shall any guarantee be inferred, to the effect that the value at maturity of the bonds held by a person shall be an amount sufficient to pay for the cost of tuition at any institution of higher education attended by that person for such purposes as he determines.
2023 Ohio Revised Code › Title 33 | Education-Libraries › Chapter 3334 | College Savings Program; Variable College Savings Program › Section 3334.06 | Plan for Sale of Bonds - Approval of Sale - Cooperation With Issuing Authorities.

Effective:
April 13, 1990
Latest Legislation:
House Bill 434 - 118th General Assembly
(A) The Ohio tuition trust authority shall, after consultation with the issuer, develop a plan for the sale of college savings bonds. The plan shall include:
(1) An advertising program to inform the public about the availability of college savings bonds;
(2) The estimated cost of financing and administering the plan;
(3) A description of the ongoing administrative authority and responsibility for the plan.
(B) The authority shall approve the sale of a college savings bond issue under division (A) of section 3334.04 of the Revised Code only after it has determined that the issuance would comply with section 3334.04 of the Revised Code.
(C) The authority shall cooperate with all state issuing authorities in identifying potential bond issues which may be appropriate for designation as college savings bonds and shall encourage those issuing authorities to participate in the Ohio college savings program.
2023 Ohio Revised Code › Title 33 | Education-Libraries › Chapter 3334 | College Savings Program; Variable College Savings Program › Section 3334.07 | Plan for Sale of Tuition Credits - Price of Credit - Incentive Programs.

Effective:
October 16, 2009
Latest Legislation:
House Bill 1 - 128th General Assembly
(A) The Ohio tuition trust authority shall develop a plan for the sale of tuition units. Not later than December 31, 2009, the authority shall conduct a study of guaranteed tuition program plans and submit a report that contains recommendations for a new guaranteed tuition plan to the speaker of the house of representatives, the president of the senate, and the governor. The authority shall include in the report consideration of a guaranteed tuition program plan in which the risks of the plan are shared equitably among institutions of higher education, the state, the Ohio tuition trust authority, and the investors in the program.
(B) Annually, the authority shall determine the weighted average tuition of four-year state universities in the academic year that begins on or after the first day of August of the current calendar year, and shall establish the price of a tuition unit in the ensuing sales period. Such price shall be based on sound actuarial principles, and shall, to the extent actuarially possible, reasonably approximate one per cent of the weighted average tuition for that academic year plus the costs of administering the program that are in excess of general revenue fund appropriations for administrative costs. The sales period to which such price applies shall consist of twelve months, and the authority by rule shall establish the date on which the sales period begins. If circumstances arise during a sales period that the authority determines causes the price of tuition units to be insufficient to ensure the actuarial soundness of the Ohio tuition trust fund, the authority may adjust the price of tuition units purchased during the remainder of the sales period. To promote the purchase of tuition units and in accordance with actuarially sound principles, the authority may adjust the sales price as part of incentive programs, such as discounting for lump sum purchases and multi-year installment plans at a fixed rate of purchase.
(C) The authority may establish and administer more than one plan for the sale of tuition units within the Ohio tuition trust fund using similar principles specified in division (B) of this section or modeled after a plan that was included in the study that was conducted under division (A) of this section. If the authority establishes and administers more than one plan for the sale of tuition units, the money received under each plan shall be segregated and identified within the Ohio tuition trust fund.
2023 Ohio Revised Code › Title 33 | Education-Libraries › Chapter 3334 | College Savings Program; Variable College Savings Program › Section 3334.10 | Termination of Contract - Determination and Payment of Refunds.

Effective:
September 29, 2005
Latest Legislation:
House Bill 66 - 126th General Assembly
Divisions (A) and (B) of this section do not apply to scholarship programs established under section 3334.17 of the Revised Code.
(A) Unless otherwise provided for in the tuition payment contract, the purchaser may rollover amounts to another qualified tuition program under section 529 of the Internal Revenue Code or terminate the contract for any reason by filing written notice with the Ohio tuition trust authority.
(1) If the contract is terminated and the beneficiary is under eighteen years of age, the authority shall use actuarially sound principles to determine the amount of the refund.
(2) If the contract is terminated because of the death or permanent disability of the beneficiary, the amount of the refund shall be equal to the greater of the following:
(a) One per cent of the weighted average tuition in the academic year the refund is paid, multiplied by the number of tuition units purchased and not used;
(b) The total purchase price of all tuition units purchased for the beneficiary and not used.
(3) If all or part of the amount accrued under the contract is liquidated for a rollover to another qualified tuition program under section 529 of the Internal Revenue Code, the rollover amount shall be determined in an actuarially sound manner.
(B) The contributor of a variable college savings program account may rollover amounts to another qualified tuition program under section 529 of the Internal Revenue Code or terminate the account for any reason by filing written notice with the Ohio tuition trust authority.
The contributor may receive an amount equal to the account balance, less any applicable administrative fees.
(C) A scholarship program may request a refund of tuition units in the program's account by filing a written request with the authority. The refund shall be paid to the entity that established the scholarship program or, with that entity's approval, to the authority if this is authorized by federal tax law. The amount of any refund shall be determined by the authority and shall meet the requirements for refunds made on account of scholarships under section 529 of the Internal Revenue Code.
(D) The authority shall maintain a separate account for each variable college savings contract entered into pursuant to division (A) of section 3334.18 of the Revised Code for contributions made on behalf of a beneficiary, showing the name of the beneficiary of that contract and the amount of contributions made pursuant to that contract. Upon request of any beneficiary or contributor, the authority shall provide a statement indicating, in the case of a beneficiary, the amount of contributions made pursuant to that contract on behalf of the beneficiary, or, in the case of a contributor, contributions made, disbursed, or refunded pursuant to that contract.
2023 Ohio Revised Code › Title 33 | Education-Libraries › Chapter 3334 | College Savings Program; Variable College Savings Program › Section 3334.12 | Evaluation of Actuarial Soundness of Tuition Trust Fund - Termination - Annual Financial Report.

Effective:
October 16, 2009
Latest Legislation:
House Bill 1 - 128th General Assembly
Notwithstanding anything to the contrary in sections 3334.07 and 3334.09 of the Revised Code:
(A) Annually, the Ohio tuition trust authority shall have the actuarial soundness of the Ohio tuition trust fund evaluated by a nationally recognized actuary and shall determine whether additional assets are necessary to defray the obligations of the authority. If, after the authority sets the price for tuition units, circumstances arise that the executive director determines necessitate an additional evaluation of the actuarial soundness of the fund, the executive director shall have a nationally recognized actuary conduct the necessary evaluation. If the assets of the fund are insufficient to ensure the actuarial soundness of the fund, the authority shall adjust the price of subsequent purchases of tuition units to the extent necessary to help restore the actuarial soundness of the fund. If, at any time, the adjustment is likely, in the opinion of the authority, to diminish the marketability of tuition units to an extent that the continued sale of the units likely would not restore the actuarial soundness of the fund and external economic factors continue to negatively impact the soundness of the program, the authority may suspend sales, either permanently or temporarily, of tuition units. During any suspension, the authority shall continue to service existing college savings program accounts.
(B) Upon termination of all programs or liquidation of the Ohio tuition trust fund, the Ohio tuition trust reserve fund, and the Ohio tuition trust operating fund, any remaining assets of the funds after all obligations of the funds have been satisfied pursuant to division (B) of section 3334.11 of the Revised Code shall be transferred to the general revenue fund of the state.
(C) The authority shall prepare and cause to have audited an annual financial report on all financial activity of the Ohio tuition trust authority within ninety days of the end of the fiscal year. The authority shall transmit a copy of the audited financial report to the governor, the president of the senate, the speaker of the house of representatives, and the minority leaders of the senate and the house of representatives. Copies of the audited financial report also shall be made available, upon request, to the persons entering into contracts with the authority and to prospective purchasers of tuition units and prospective contributors to variable college savings program accounts.
2023 Ohio Revised Code › Title 33 | Education-Libraries › Chapter 3334 | College Savings Program; Variable College Savings Program › Section 3334.15 | Credit or Payment Exemptions - Use as Security or Collateral for Loan.

Effective:
September 29, 2005
Latest Legislation:
House Bill 66 - 126th General Assembly
(A) The right of a person to a tuition unit or a payment under section 3334.09 of the Revised Code pursuant to a tuition payment contract, a scholarship program, or a variable college savings program account shall not be subject to execution, garnishment, attachment, the operation of bankruptcy or the insolvency laws, or other process of law.
(B) The right of a person to a tuition unit or a payment under section 3334.09 of the Revised Code pursuant to a tuition payment contract, a scholarship program, or a variable college savings program account shall not be used as security or collateral for a loan.
2023 Ohio Revised Code › Title 33 | Education-Libraries › Chapter 3334 | College Savings Program; Variable College Savings Program › Section 3334.16 | Exemption From Federal Tax Liability.

Effective:
September 29, 2005
Latest Legislation:
House Bill 66 - 126th General Assembly
The general assembly hereby finds that the prepaid tuition program providing for the sale of tuition credits units by the Ohio tuition trust authority is an official state function, offered through an agency of this state, which agency receives state appropriations. Therefore, the authority is directed by the state of Ohio to assume it is exempt from federal tax liability.
2023 Ohio Revised Code › Title 33 | Education-Libraries › Chapter 3334 | College Savings Program; Variable College Savings Program › Section 3334.17 | Scholarship Programs to Award Scholarships Consisting of Tuition Credits.

Effective:
September 29, 2005
Latest Legislation:
House Bill 66 - 126th General Assembly
(A) The state, any political subdivision of the state, and any organization that is exempt from federal income taxation under section 501 (a) and described in section 501 (c)(3) of the Internal Revenue Code, including the Ohio tuition trust authority if this is authorized under federal tax law, may establish a scholarship program to award scholarships consisting of contributions made to any college savings program for students. Any scholarship program established under this section shall be registered with the authority. The authority shall be notified of the name and address of each scholarship beneficiary under the program, the amounts awarded, and the institution of higher education in which the beneficiary is enrolled. Scholarship beneficiaries shall be selected by the entity establishing the scholarship program, in accordance with criteria established by the entity.
(B) Any person or governmental entity may purchase tuition units on behalf of a scholarship program that is or is to be established in accordance with division (A) of this section at the same price as is established for the purchase of units for named beneficiaries pursuant to this chapter. Tuition units shall have the same value to the beneficiary of a scholarship awarded pursuant to this section as they would have to any other beneficiary pursuant to division (B) of section 3334.09 of the Revised Code.
(C) The entity establishing and maintaining a scholarship program shall specify whether a scholarship beneficiary may receive a refund or payment for the amount awarded under the scholarship program directly from the authority, or whether the amount awarded shall be paid by the authority only to the institution of higher education in which the student is enrolled.
(D) If a scholarship beneficiary does not use the amount awarded within a length of time specified under the scholarship program, the amount may be awarded to another beneficiary.