Ohio Administrative Code › Title 122 - Development Services Agency › Division 128 - Data Center Tax Exemption › Chapter 122-4 - Restricted Bonds › Section 122-4-06 - Administrative

Current through all regulations passed and filed through July 1, 2024
(A) Evidence of
				filing. The director shall 
									note on all notices of intent and notices of
				issuance the date of receipt by the director's office, and such
				
									noted
				date shall be conclusive evidence of the date such notices are received by the
				director's office.
(B) Record of
				confirmations. The director shall maintain continuous and cumulative records of
				the amounts of restricted bonds as to which confirmations have been given and
				notices of issuance received under this chapter. Confirmations under this
				chapter shall be dated and numbered by the director.
(C) Form and manner. Notices of intent,
				confirmations, notices of issuance, receipts, questionnaires, and
				certifications shall be made and given in the form and manner prescribed by the
				director, which shall be devised so as to discourage notices of intent which
				are premature or excessive. Notices of intent shall be accompanied by such
				additional items and information as the director may from time to time require
				by instructions or otherwise. The director may from time to time alter the
				forms and change the requirements for accompanying material or vary them for
				different types of bonds as he deems appropriate in the circumstances.
				Confirmations may be issued of shorter duration than provided in rule
				122-4-03
				of the Administrative Code if, and during such periods as is advisable, in the
				judgment of the director upon guidance from the select committee, confirmation
				of a shorter duration would enhance maximum utilization of the state ceiling.
				The director may do all other things necessary or desirable to carry out the
				purposes of this chapter and of section
				133.021 of the Revised Code,
				including such alterations of the system provided under this chapter as may be
				necessary to conform the system to any requirements under the Internal Revenue
				Code in order to constitute an effective alternative formula of the state for
				allocating and assigning the state ceiling. The director may provide for the
				issuance of receipts and for certifications regarding the aggregate amounts of
				effective confirmations on restricted bonds and any othr certifications as may
				be appropriate under the Internal Revenue Code. The director shall interpret
				this chapter in such manner as to effectuate the purposes of section
				133.021 of the Revised Code.
				Because of the need for certainty at all times in all matters of allocations
				made of the state ceiling to particular issues of bonds, all determinations by
				the director under this chapter (including the issuance, deferral or denial of
				confirmations) shall be final and are not subject to appeal. None of the
				determinations by the director under this chapter involves an adjudication
				order within the meaning of section
				119.06 of the Revised
				Code.
(D) Fees.
(1)
										No fee will be
				required to be paid by the Ohio housing finance agency in connection with an
				allocation of the set-aside described in paragraphs (A)(1) and (A)(2) of rule
				122-4-02
				of the Administrative Code. A notice of intent filed for an allocation
				from the set-asides described in paragraphs (A)(2), (A)(3), (A)(4) and (A)(5)
				of rule
				122-4-02
				of the Administrative Code will not be deemed to be filed until and unless a
				fee in an amount equal to the lesser of three-quarters of one per cent of the
				amount requested in the notice of intent or one hundred fifty thousand dollars,
				plus one thousand dollars is received by the director with respect to that
				notice of intent. The amount of the fee equal to the lesser of three-quarters
				of one per cent of the amount requested in the notice of intent or one hundred
				fifty thousand dollars will be refunded within thirty days after the earlier of
				(a) the determination that a confirmation will not be issued pursuant to
				paragraph (E)(3) of rule
				122-4-02
				of the Administrative Code for the notice of intent and provided that no
				request for reconsideration is submitted as provided in paragraph (E)(4) of
				rule
				122-4-02
				of the Administrative Code, or (b) (i) a notice of issuance for an effective
				confirmation is received by the director or (ii) in connection with an issuance
				of escrow bonds, a notice of escrow release is received by the director. If a
				request for reconsideration of a notice of intent is submitted to the director
				as provided in paragraph (E)(4) of rule
				122-4-02
				of the Administrative Code, the amount of the fee equal to the lesser of
				three-quarters of one per cent of the amount requested in the notice of intent
				or one hundred fifty thousand dollars will be refunded within thirty days after
				the earlier of the determination that a confirmation will not be issued
				pursuant to paragraph (E)(3) of rule 122-4-02 of the Administrative Code
				following reconsideration of the notice of intent in subsequent round of
				allocations for the set-aside provided in paragraphs (A)(2), (A) (3) and (A)(5)
				of rule
				122-4-02
				of the Administrative Code; a notice of issuance for an effective confirmation
				is received by the director in connection with an issuance of escrow bonds, a
				notice of escrow release is received by the director. The amount of the fee
				equal to one thousand dollars will not be refunded under any
				circumstances.
(2) A notice of
				intent filed for an allocation from the set-asides described in paragraph
				(A)(6) of rule
				122-4-02
				of the Administrative Code will not be deemed to be filed until and unless a
				fee in a amount equal to the lesser of three-quarters of one per cent of the
				amount requested in the notice of intent or one hundred fifty thousand dollars,
				plus a filing fee not to exceed one thousand dollars is received by the
				director with respect to that notice of intent. The amount of the fee equal to
				the lesser of three-quarters of one per cent of the amount requested in the
				notice of intent or one hundred fifty thousand dollars will be refunded within
				thirty days after the earlier of (a) the determination that a confirmation will
				not be issued pursuant to paragraph (A)(6) of rule
				122-4-02
				of the Administrative Code for the notice of intent, or (b) (i) a notice of
				issuance for an effective confirmation received by the director or (ii) in
				connection with an issuance of escrow bonds, a notice of escrow release is
				received by the director. The amount of fee equal to one thousand dollars will
				not be refunded under any circumstance. Notwithstanding the
				foregoing, the Ohio housing finance agency will not be required to pay the fees
				contemplated by this paragraph.
(3) If a confirmation is issued pursuant to
				paragraph (D) or (E) of rule
				122-4-02
				of the Administrative Code for only a portion of the amount requested in a
				notice of intent, the borrower of the proceeds of the related bonds may elect
				within ten days after the confirmation is issued to:
(a) Decline to accept the confirmation and
				the amount of the fee equal to the lesser of three-quarters of one per cent of
				the amount requested in the notice of intent or one hundred fifty thousand
				dollars will be refunded within thirty days after a written election is filed
				with the director, or
(b) Accept
				the confirmation and an amount equal to the difference between (x) the lesser
				of three-quarters of one per cent of the amount requested in the notice of
				intent or one hundred fifty thousand dollars, whichever was paid, and (y) the
				lesser of three quarters of one per cent of the amount for which the
				confirmation is issued or one hundred fifty thousand dollars, will be refunded
				after a written election is filed with the director. If the confirmation is
				accepted pursuant to this paragraph, the fees related to that confirmation will
				be governed by paragraphs (D)(1) to (D)(2) of this rule.
(c) The amount of the fee equal to one
				thousand dollars required by paragraphs (D)(1) and (D)(2) of this rule will not
				be refunded regardless of the borrowers' election under paragraph (D)(3)(a) or
				(D)(3)(b) of this rule.
(4) A request for an extension of a
				confirmation pursuant to paragraph (C) of rule
				122-4-03
				of the Administrative Code will not be deemed filed until and unless an
				additional fee in an amount equal to the lesser of three-quarters of one per
				cent of the amount requested in the original confirmation or one hundred fifty
				thousand dollars is received by the director, except
				that such fee will not be required of the Ohio housing finance agency.
				The fee required by this paragraph will be refunded within thirty days after a
				notice of issuance of an effective confirmation is received.
(5) Except as provided in paragraphs (D)(1)
				to (D)(4) of this rule, refunds of fees received
				by the director in connection with allocations from the set-asides described in
				paragraphs (A)(2), (A)(3), (A)(4) (A)(5) and (A)(6) of rule
				122-4-02
				of the Administrative Code will be made in the director's
				discretion.
(6) Fees required
				by paragraphs (D)(1), (D)(2), and (D)(4) of this rule, or by paragraph (A)(3)
				of rule
				122-4-05
				of the Administrative Code may be paid in the form of a check, draft, money
				order, or the like, payable to "
				Treasurer of State of Ohio" followed by the name
				of the individual then holding the office of Ohio treasurer.
				 If such payment is not good, the filing
				with respect to which the fee pertains will be deemed not to be made and any
				confirmation issued pursuant to the notice of intent will be void unless the
				director otherwise determines in writing upon receiving good payment of the
				fee. Fees refunded pursuant to this rule shall be only for the amount of the
				fee required. No interest, investment earnings or investment loss shall be
				attributable to such fees.
(7)
										No fees required by paragraph (D) of this rule will be
				applicable to the Ohio housing finance agency in connection with an allocation
				of the set-aside described in paragraphs (A)(1) and (A)(2) of rule
				122-4-02
				of the Administrative Code or in connection with a carryforward confirmation
				under rule
				122-4-05
				of the Administrative Code.