§ 166.01 Economic development program definitions
§ 166.02 Public policy declaration
§ 166.03 Facilities establishment fund
§ 166.04 Determining whether assistance will conform to chapter
§ 166.05 Selection criteria
§ 166.06 Contracts to guarantee repayment of loans from loan guarantee fund
§ 166.07 Lending money from facilities establishment fund
§ 166.08 Issuing obligations
§ 166.09 Crediting loan repayments
§ 166.10 Authority under chapter is in addition to powers conferred by other laws
§ 166.11 Limits on aggregate amounts of obligations and guarantees
§ 166.12 Public policy to assist in and facilitate establishment or development of eligible innovation projects
§ 166.13 Determining whether assistance will conform to chapter requirements
§ 166.14 Determining eligible innovation projects – confidential information
§ 166.15 Contracts to guarantee repayment or payment of unpaid principal amount of loans
§ 166.16 Innovation Ohio loan fund
§ 166.17 Establishment or development of eligible research and development projects
§ 166.18 Applications for research and development financial assistance
§ 166.19 Considerations in granting assistance for research and development financial assistance
§ 166.20 Research and development loan fund
§ 166.21 Lending moneys in research and development loan fund
§ 166.25 Loans from logistics and distribution infrastructure fund
§ 166.26 Logistics and distribution infrastructure fund
§ 166.27 Minority outreach for RC 166.25 loans
§ 166.35 Economic development support fund
§ 166.50 Microbusiness defined

Terms Used In Ohio Code > Chapter 166 - Economic Development Program

  • Allowable costs: means all or part of the costs of project facilities, eligible projects, eligible innovation projects, eligible research and development projects, eligible advanced energy projects, or eligible logistics and distribution projects, including costs of acquiring, constructing, reconstructing, rehabilitating, renovating, enlarging, improving, equipping, or furnishing project facilities, eligible projects, eligible innovation projects, eligible research and development projects, eligible advanced energy projects, or eligible logistics and distribution projects, site clearance and preparation, supplementing and relocating public capital improvements or utility facilities, designs, plans, specifications, surveys, studies, and estimates of costs, expenses necessary or incident to determining the feasibility or practicability of assisting an eligible project, an eligible innovation project, an eligible research and development project, an eligible advanced energy project, or an eligible logistics and distribution project, or providing project facilities or facilities related to an eligible project, an eligible innovation project, an eligible research and development project, an eligible advanced energy project, or an eligible logistics and distribution project, architectural, engineering, and legal services fees and expenses, the costs of conducting any other activities as part of a voluntary action, and such other expenses as may be necessary or incidental to the establishment or development of an eligible project, an eligible innovation project, an eligible research and development project, an eligible advanced energy project, or an eligible logistics and distribution project, and reimbursement of moneys advanced or applied by any governmental agency or other person for allowable costs. See Ohio Code 166.01
  • Allowable innovation costs: includes allowable costs of eligible innovation projects and, in addition, includes the costs of research and development of eligible innovation projects; obtaining or creating any requisite software or computer hardware related to an eligible innovation project or the products or services associated therewith; testing (including, without limitation, quality control activities necessary for initial production), perfecting, and marketing of such products and services; creating and protecting intellectual property related to an eligible innovation project or any products or services related thereto, including costs of securing appropriate patent, trademark, trade secret, trade dress, copyright, or other form of intellectual property protection for an eligible innovation project or related products and services; all to the extent that such expenditures could be capitalized under then-applicable generally accepted accounting principles; and the reimbursement of moneys advanced or applied by any governmental agency or other person for allowable innovation costs. See Ohio Code 166.01
  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Another: when used to designate the owner of property which is the subject of an offense, includes not only natural persons but also every other owner of property. See Ohio Code 1.02
  • Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Bond: includes an undertaking. See Ohio Code 1.02
  • Bond proceedings: means the resolution, order, trust agreement, indenture, lease, and other agreements, amendments and supplements to the foregoing, or any one or more or combination thereof, authorizing or providing for the terms and conditions applicable to, or providing for the security or liquidity of, obligations issued pursuant to this section, and the provisions contained in such obligations. See Ohio Code 166.08
  • Bond service charges: means principal, including mandatory sinking fund requirements for retirement of obligations, and interest, and redemption premium, if any, required to be paid by the state on obligations. See Ohio Code 166.08
  • Bond service fund: means the applicable fund and accounts therein created for and pledged to the payment of bond service charges, which may be, or may be part of, the economic development bond service fund created by division (S) of this section including all moneys and investments, and earnings from investments, credited and to be credited thereto. See Ohio Code 166.08
  • Contract: A legal written agreement that becomes binding when signed.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Eligible advanced energy project: means an eligible project that is an "advanced energy project" as defined in section 3706. See Ohio Code 166.01
  • Eligible innovation project: includes an eligible project, including any project facilities associated with an eligible innovation project and, in addition, includes all tangible and intangible property related to a new product or process based on new technology or the creative application of existing technology, including research and development, product or process testing, quality control, market research, and related activities, that is to be acquired, established, expanded, remodeled, rehabilitated, or modernized for industry, commerce, distribution, or research, or any combination thereof, the operation of which, alone or in conjunction with other eligible projects, eligible innovation projects, or innovation property, will create new jobs or preserve existing jobs and employment opportunities and improve the economic welfare of the people of the state. See Ohio Code 166.01
  • Eligible logistics and distribution project: means an eligible project, including project facilities, to be acquired, established, expanded, remodeled, rehabilitated, or modernized for transportation logistics and distribution infrastructure purposes. See Ohio Code 166.01
  • Eligible project: includes , without limitation, a voluntary action. See Ohio Code 166.01
  • Eligible research and development project: means an eligible project, including project facilities, comprising, within, or related to, a facility or portion of a facility at which research is undertaken for the purpose of discovering information that is technological in nature and the application of which is intended to be useful in the development of a new or improved product, process, technique, formula, or invention, a new product or process based on new technology, or the creative application of existing technology. See Ohio Code 166.01
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • existing jobs: includes only those existing jobs with work places within the municipal corporation or unincorporated area of the county in which the eligible project is located. See Ohio Code 166.01
  • Fiduciary: A trustee, executor, or administrator.
  • Financial assistance: means inducements under division (B) of section 166. See Ohio Code 166.01
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • funds: means , except where the context does not permit, the bond service fund, and any other funds, including reserve funds, created under the bond proceedings, and the economic development bond service fund created by division (S) of this section to the extent provided in the bond proceedings, including all moneys and investments, and earnings from investment, credited and to be credited thereto. See Ohio Code 166.08
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • Governmental action: means any action by a governmental agency relating to the establishment, development, or operation of an eligible project, eligible innovation project, eligible research and development project, eligible advanced energy project, or eligible logistics and distribution project, and project facilities that the governmental agency acting has authority to take or provide for the purpose under law, including, but not limited to, actions relating to contracts and agreements, zoning, building, permits, acquisition and disposition of property, public capital improvements, utility and transportation service, taxation, employee recruitment and training, and liaison and coordination with and among governmental agencies. See Ohio Code 166.01
  • Governmental agency: means the state and any state department, division, commission, institution or authority; a municipal corporation, county, or township, and any agency thereof, and any other political subdivision or public corporation or the United States or any agency thereof; any agency, commission, or authority established pursuant to an interstate compact or agreement; and any combination of the above. See Ohio Code 166.01
  • Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. Source: OCC
  • Innovation financial assistance: means inducements under division (B) of section 166. See Ohio Code 166.01
  • Innovation property: includes property and also includes software, inventory, licenses, contract rights, goodwill, intellectual property, including without limitation, patents, patent applications, trademarks and service marks, and trade secrets, and other tangible and intangible property, and any rights and interests in or connected to the foregoing. See Ohio Code 166.01
  • Intangible property: Property that has no intrinsic value, but is merely the evidence of value such as stock certificates, bonds, and promissory notes.
  • Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
  • Issuing authority: means the treasurer of state, or the officer who by law performs the functions of such officer. See Ohio Code 166.08
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Loan guarantee reserve requirement: means , at any time, with respect to loan guarantees made under section 166. See Ohio Code 166.01
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. Source: OCC
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Obligations: means bonds, notes, or other evidence of obligation including interest coupons pertaining thereto, issued pursuant to this section. See Ohio Code 166.08
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Person: means any individual, firm, partnership, association, corporation, or governmental agency, and any combination thereof. See Ohio Code 166.01
  • Personal property: All property that is not real property.
  • Pledged receipts: means all receipts of the state representing the gross profit on the sale of spirituous liquor, as referred to in division (B)(4) of section 4301. See Ohio Code 166.08
  • Project facilities: means buildings, structures, and other improvements, and equipment and other property, excluding small tools, supplies, and inventory, and any one, part of, or combination of the above, comprising all or part of, or serving or being incidental to, an eligible project, an eligible innovation project, an eligible research and development project, an eligible advanced energy project, or an eligible logistics and distribution project, including, but not limited to, public capital improvements. See Ohio Code 166.01
  • Project financing obligations: means obligations issued pursuant to section 166. See Ohio Code 166.01
  • Property: means real and personal property and interests therein. See Ohio Code 166.01
  • Public capital improvements: means capital improvements or facilities that any governmental agency has authority to acquire, pay the costs of, own, maintain, or operate, or to contract with other persons to have the same done, including, but not limited to, highways, roads, streets, water and sewer facilities, railroad and other transportation facilities, and air and water pollution control and solid waste disposal facilities. See Ohio Code 166.01
  • Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
  • Research and development financial assistance: means inducements under section 166. See Ohio Code 166.01
  • state: means the state of Ohio. See Ohio Code 1.59
  • Statute: A law passed by a legislature.
  • transportation logistics and distribution infrastructure purposes: means promoting, providing for, and enabling improvements to the ground, air, and water transportation infrastructure comprising the transportation system in this state, including, without limitation, highways, streets, roads, bridges, railroads carrying freight, and air and water ports and port facilities, and all related supporting facilities. See Ohio Code 166.01
  • Trustee: A person or institution holding and administering property in trust.
  • United States: includes all the states. See Ohio Code 1.59
  • Voluntary action: means a voluntary action, as defined in section 3746. See Ohio Code 166.01