This website publishes administrative rules on their effective dates, as designated by the adopting state agencies, colleges, and
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| Rule |
Rule 122:24-1-01 | Definitions.
Effective:
December 27, 2018
Capitalized terms used in rules 122:24-1-01 to
122:24-1-14 shall have the following meaning: (A) "Annual" sales means the gross sales of the small
business enterprise using generally accepted accounting principles for the
twelve months preceding the date of the investment of money. For entities that
engage in the rental of assets, sales shall also mean rental
income. (B) "Application" means the process of submitting
notification of a qualifying investment with the development services agency
for the purposes of the investOhio program. An application may only be
completed after both the eligible investor and the small business enterprise
have registered with the investOhio program, in a manner prescribed by the
director. The application will identify a specific dollar amount, the date of
the investment of money, the eligible investor and the small business
enterprise. (C) "Assets" means the total book value of assets of the
small business enterprise using generally accepted accounting principles for
the twelve months preceding the date of the investment of money. (D) "Director" means the director of the development
services agency of the state of Ohio. (E) "Disqualifying Event" means a situation in which either
the eligible investor or the small business enterprise performs, or fails or
perform, an act that renders either a registered party to the transaction or
qualifying transaction between the registered parties partially or wholly
ineligible for the tax credit described in section 122.86 of the Revised
Code. (F) "Eligible Investor" has the same meaning as described
in division (A)(3) of section 122.86 of the Revised Code. (G) "Full-time Equivalent Employees" means, for purposes of
division (A)(1)(b) of section 122.86 of the Revised Code, the quotient obtained
by dividing the total number of hours for which employees were compensated for
employment at the small business enterprise by two-thousand eighty within the
twelve months preceding the date of the investment of money. Ohio full-time
equivalent employees are those full-time equivalent employees subject to the
tax imposed by Chapter 5747. of the Revised Code or full-time equivalent
employees that are exempt from the tax imposed by Chapter 5747. of the Revised
Code. (H) "Investment of Money" means a new investment of cash by
an eligible investor to a small business enterprise. It does not include a
contribution of non-cash assets, convertible or converted debt, or other
impermissible investments described in rule 122:24-1-05 of the Administrative
Code. (I) "InvestOhio Program" means the tax credit program
established in section 122.86 of the Revised Code. This program is also
identified as the small business enterprise investment tax credit administered
by the development services agency. (J) "InvestOhio Transaction ID" means the alphanumeric code
issued by the director for a qualifying investment that has successfully
applied to the investOhio program. InvestOhio transactions IDs are issued
sequentially in the order that applications are received. (K) "InvestOhio User ID" means the alphanumeric code issued
by the director to eligible investors and small business enterprises that have
successfully registered with the investOhio program. (L) "Pass-through Entity" has the same meaning as described
in division (O) of section 5733.04 of the Revised Code. (M) "Managers of the Enterprise" means individuals who have
the responsibility for the day to day operations of the business or exercise
decision making authority for the entity, regardless of their title,
compensation, ownership and regardless of whether they are salaried or hourly
employees. (N) "Qualifying Investment" has the same meaning as
described in division (A)(2) of section 122.86 of the Revised
Code. (O) "Register" means the process of creating a user account
with the investOhio program. Registration may require the establishment of an
Ohio business gateway account as well. Eligible investors and small business
enterprises must register separately in order to participate in the investOhio
program, even if they are the same person, and must certify the accuracy of the
information provided in each registration. (P) "Related Entities" means entities, determined by the
director pursuant to division (F)(5) of section 122.86 of the Revised Code
that: (1) have (i) significant common purposes and substantial common
membership or (ii) have directly or indirectly substantial common direction or
control; (2) in which the small business enterprise or a twenty percent or more
interestholder of the small business enterprise owns more than twenty per cent;
or (3) other determinations made by the director. For the purposes of this
calculation, the interestholder includes immediate family members (spouses,
children, parents, siblings and other household members). Entities includes
trusts controlled by or for the benefit of the interestholder. (Q) "Small Business Enterprise" has the same meaning as
described in division (A)(1) of section 122.86 of the Revised
Code. (R) "Tax Commissioner" means the commissioner of the
department of taxation of the state of Ohio. (S) "Time of Investment" means the date on which an
eligible investor completes all of the investments of money to a small business
enterprise that are outlined in the application submitted through the
investOhio program, regardless of the date on which the small business
enterprise issues the equity to the eligible investor. (T) "United States" means the fifty states, the District of
Columbia, Puerto Rico, American Samoa, Guam, Johnston island, Midway island,
Wake islands, Northern Mariana islands, and US Virgin islands.
Last updated October 25, 2024 at 4:25 PM
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Rule 122:24-1-02 | Procedure for investOhio program.
Effective:
December 27, 2018
(A) The investOhio program is a multistep process in which
the following acts must occur: (1) The small business enterprises and eligible investors
that wish to participate in the program must register with the investOhio
program. The registration process is further described in rule 122:24-1-03 of
the Administrative Code. (2) A registered eligible investor and a registered small
business enterprise must reach an agreement that permits the eligible investor
to make an investment of money in the small business enterprise for an equity
interest in the small business enterprise whether such agreement was reached
prior to or after registering as an eligible investor or small business
enterprise with the investOhio program. The time of investment must occur in
the same state fiscal biennium as application described in paragraph (A)(3) of
this rule. (3) One of the parties to the qualifying investment
described in paragraph (A)(2) of this rule must apply to the investOhio
program. The application process is further described by rule 122:24-1-04 of
the Administrative Code. The date and time in which the application is received
by the director determines the priority that the qualifying investment has
under the investOhio program. Each transaction will be given an investOhio
transaction ID to denote the priority of the transaction. (4) Once the application has been submitted to the
director, the eligible investor must make the investment of money consistent
with rule 122:24-1-05 of the Administrative Code. (5) Within six months after the date on which the
investment of money occurs, the small business enterprise must make allowed
expenditures consistent with division (A)(1) of section 122.86 of the Revised
Code. (6) Following the end of the required holding period and
submission of required documents, the director will begin to issue small
business investment certificates to those qualifying investments that have that
met each of the requirements listed in paragraphs (A)(1) to (A)(6) of this
rule. The certificate shall establish the maximum amount of the tax credit that
may be claimed. The director will issue small business investment certificates
until the amount of tax credits awarded meets the limitation imposed by
division (C)(3) of section 122.86 of the Revised Code. (7) Eligible investors that possess small business
investment certificates may claim a tax credit consistent with section 5747.81
of the Revised Code.
Last updated October 25, 2024 at 4:25 PM
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Rule 122:24-1-03 | Registration process.
Effective:
December 27, 2018
(A) There are two parties that are required to register
with the development services agency as part of the process of issuing a small
business investment certificate, the eligible investor and the small business
enterprise. Registration shall be accomplished using the Ohio business gateway
at: http://business.ohio.gov, or the website address located at:
http://invest.ohio.gov. (B) In order to register as an eligible investor with the
investOhio program in accordance with paragraph (A) of this rule, at the
location denoted in paragraph (A) of this rule, the following information must
be provided: the entity type; its name and address; email address; social
security number or federal employer identification number; an acknowledgement
that the investment must be for the acquisition of capital stock or other
equity interest in a small business enterprise; and such additional information
as the director may deem to be necessary. (C) When the registration process has been completed,
pursuant to this rule, an investOhio user ID will be issued. This number will
be used to identify the eligible investor throughout the investOhio program.
The investOhio user ID is used to match the eligible investor up to qualifying
investments, as defined by division (A)(2) of section 122.86 of the Revised
Code. If an eligible investor makes multiple investments with the same or
different small business enterprises, the same investOhio user ID will be used
for each application. (D) In order to register as a small business enterprise
with the investOhio program in accordance with paragraph (A) of this rule, at
the location denoted in paragraph (A) of this rule, a corporation, pass-through
entity or other person must provide the following information: the entity type;
its name and address; email address; social security number or federal employer
identification number, the business registration number issued by the Ohio
secretary of state; its North America industry classification system code;
information relating to meeting the employee requirement, as described in
division (A)(1)(b) of section 122.86 of the Revised Code; information relating
to meeting the sales requirement, as described in division (A)(1)(a) of section
122.86 of the Revised Code; information relating to meeting the asset
requirement, also as described in division (A)(1)(a) of section 122.86 of the
Revised Code; and such additional information as the director may deem to be
necessary. (E) When the registration process has been completed, an
investOhio user ID will be issued. This number will be used to identify the
small business enterprise throughout the investOhio program. The investOhio
user ID is used to match the small business enterprise with qualifying
investments, as defined in division (A)(2) of section 122.86 of the Revised
Code. If a small business enterprise accepts multiple qualifying investments
with the same or different eligible investors, the same investOhio user ID will
be used for each application. (F) All registrants are required to update their
registration information if changes occur. Each party to a qualifying
investment must affirm the accuracy of this information in the application
process as described in rule 122:24-1-04 of the Administrative
Code. (G) The act of registration alone does not entitle either
an eligible investor or a small business entity to a tax credit under the
investOhio program.
Last updated October 25, 2024 at 4:25 PM
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Rule 122:24-1-04 | Application process.
Effective:
December 27, 2018
(A) In order to complete an application for a qualifying
investment, both the eligible investor and the potential small business
enterprise have registered with the investOhio program and have received an
investOhio user ID. This process is described in rule 122:24-1-03 of the
Administrative Code. (B) Prior to submitting an application for a qualifying
investment, the eligible investor and small business enterprise must have
exchanged the information necessary to complete an application for a qualifying
investment. Either party may apply under the investOhio program. The
information necessary shall include: (1) The amount of the qualifying investment, which must be
an investment of money; and (2) The time of investment; and (3) (a) In the case of a
small business enterprise that wishes to apply, the investOhio user ID of the
eligible investor that will make a qualifying investment in the small business
enterprise; or (b) In the case of an
eligible investor that wishes to apply, the investOhio user ID for the small
business enterprise in which the eligible investor will make a qualifying
investment. (C) This application is complete and considered submitted
when the qualifying investment transaction is issued an investOhio transaction
ID. The director will use the investOhio transaction ID to order the priority
qualifying investments as required by division (B) of section 122.86 of the
Revised Code. Once an application is complete and submitted, no amendments of
that application will be permitted. (D) For purposes of clarification and/or completion, the
director may, from time to time and as necessary, request in writing additional
information from eligible investors and small business enterprises. The
director will not consider any materials unless they are requested by the
director. (E) All qualifying investments and its corresponding
investment application to the investOhio program must occur within the same
state of Ohio fiscal biennium. Failure to comply with this division shall
render a small business investment certification all, or partially, void. At
the beginning of each fiscal biennium the application process starts over,
except that registrants from a previous biennium do not have to complete the
registration process again. Previous registrants however, are required to
update their registration information to the extent that any of the information
provided has changed.
Last updated October 25, 2024 at 4:25 PM
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Rule 122:24-1-05 | Validation of Qualifying Investment.
Effective:
March 29, 2012
(A) Within thirty days of the time of investment, or for an investment of money made prior to the first date in which the director begins to accept evidence under this division as determined by the director, the eligible investor must supply to the director evidence that the transfer of the investment of money has been made. The time of investment must occur within thirty days of the date supplied in the application. Items which may be considered evidence of an investment of money can be found in paragraph (C) of rule 122:24-1-11 of the Administrative Code. (B) Within thirty days of the date in which the small business enterprise completes its expenditures pursuant to divisions (A)(1)(c)(i) to (A)(1)(c)(v) of section 122.86 of the Revised Code, or for expenditures made prior to the first date in which the director begins to accept evidence under this division as determined by the director, the small business enterprise identified in the transaction must supply to the director evidence of such expenditures. The director shall prescribe guidelines for what constitutes reasonable evidence of an allowed expenditure. Regardless of when the expenditures are made within the six month period described in division (A)(1)(c) of section 122.86 of the Revised Code, the small business enterprise must supply to the director evidence of such expenditures no later than seven months from the date of the investment of money. (C) On or before the date described in paragraph (A) of this rule, any eligible investor that is a pass-through entity that wishes to receive a small business investment certificate must provide to the director a list of partners or members, including the correct legal name, taxpayer identification number, and proportion of ownership interest in the entity. To the extent that any of the parties denoted on this list are themselves a pass-through entity, the eligible investor that is participating in the investOhio program must supply a list of partners or members, including the correct legal name, mailing address, email address, taxpayer identification number, and proportion of ownership interest in the entity. This process shall continue until all listed parties are individuals subject to the tax found in Chapter 5747. of Revised Code. This allocation of ownership in the eligible investor shall determine the amount of tax credit that each owner is entitled to claim, subject to the limitations imposed by division (C)(1) of section 122.86 of the Revised Code. (D) The director may, from time to time and as necessary, request in writing additional information from either eligible investors or small business enterprises in order to ascertain whether the parties to the transaction qualifying as small business enterprises, as defined in division (A)(1) of section 122.86 of the Revised Code, and as eligible investors, as defined in division (A)(3) of section 122.86 of the Revised Code. (E) To the extent that the qualifying investment is validated, the application may still be disqualified subject to the provisions of rule 122:24-1-10 of the Administrative Code.
Last updated October 25, 2024 at 4:25 PM
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Rule 122:24-1-06 | Issuances of small business investment certificates.
Effective:
December 27, 2018
(A) Once the director has determined that the qualifying
investment meets the requirements of section 122.86 of the Revised Code and
rule 122:24-1-05 of the Administrative Code, completes the review of the
application, and following the end of the holding period, the small business
investment certificate shall be issued to the eligible investor. Tax credits
will only be available to the investor or identified owners of pass-through
entities and only in proportion to their ownership interests. Each member or
partner on the list required by paragraph (C) of rule 122:24-1-05 of the
Administrative Code shall receive a small business investment certificate for
their proportionate share of the qualifying investment; however owners that are
not identified will be ineligible for a tax credit. No entity or person shall
be entitled to claim more tax credit than is allowed under division (C)(1) of
section 122.86 of the Revised Code. Small business investment certificates are
not transferrable. (B) To the extent that an eligible investor makes an
investment of money that is different than the amount supplied in the
transaction application, the director shall only issue a small business
investment certificate equal to ten percent of the lesser of the
following: (1) The actual amount of the investment made to the extent
it is less than the amount stated in the transaction application;
or (2) The amount supplied in the transaction application to
the extent that the investment in cash exceeds that amount; or (3) The maximum amount permitted by division (C)(1) of
section 122.86 of the Revised Code. (C) In the event the director determines not all of the
submitted expenditures are eligible, the director shall issue a partial small
business investment certificate in the amount equal to ten percent of the total
eligible expenditures. (D) The director shall issue a partial small business
investment certificate to an eligible investor that has completed a qualifying
investment that is accompanied by allowed expenditures if the amount of the tax
credit requested cannot be fulfilled due to the limitation set forth in
division (C)(3) of section 122.86 of the Revised Code. (E) When the total amount of intended qualifying
investments indicated on transaction applications reaches the amount that would
generate the maximum allocated tax credits in any fiscal biennium, the director
may not issue any additional small business investment certificates for that
fiscal biennium. (F) The tax credit shall be claimed in accordance with
section 5747.81 of the Revised Code. (G) The eligible investor shall submit the small business
investment certificate with the first eligible investor's annual return due to
be filed under section 5747.08 of the Revised Code after the expiration of the
holding period. The eligible investor may claim the tax credit listed on the
small business investment certificate in the priority order prescribed by
section 5747.98 of the Revised Code. Each year, any credit amount in excess of
the tax due for that year under section 122.86 of the Revised Code, after
allowing for all other credits with greater priority than the investOhio tax
credit, may be carried forward consistent with section 5747.81 of the Revised
Code.
Last updated October 25, 2024 at 4:25 PM
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Rule 122:24-1-08 | Small business enterprise.
Effective:
December 27, 2018
(A) In order for a business entity to qualify as a small
business enterprise either its assets cannot exceed fifty million dollars or
its annual sales cannot exceed ten million dollars. These calculations are to
be made at the time of each qualifying investment and are to be calculated
based upon generally accepted accounting principles. (B) In order for a business entity to qualify as a small
business enterprise, it must employ at least fifty full-time equivalent
employees in Ohio for whom it is required to withhold Ohio income taxes from
their wages or more than one-half of the business entity's total number of
full-time equivalent employees employed in the United States are employed in
Ohio and are subject to the withholding requirement. The determination of
whether this employment test has been met is made on the date of each
qualifying investment. (C) A
small business enterprise is required to annually update its registration
information for the investOhio program, described in rule 122:24-1-03 of the
Administrative Code, with the director. This report shall be in a format
established by the director and shall provide the director with information
necessary for the director to make a determination as to the entity's status
as a small business enterprise as well as whether the entity is complying with
requirements associated with its expenditure of the qualifying
investments.
Last updated October 25, 2024 at 4:25 PM
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Rule 122:24-1-09 | Verification of small business investment certificates.
Effective:
December 27, 2018
(A) Annually on a date determined by the director and again
upon the completion of the holding period for a qualifying investment that was
given an investOhio transaction ID, the eligible investor shall supply to the
director evidence of its continued ownership interest in the small business
enterprise that was a party to the qualifying investment. (B) Annually on a date determined by the director and again
upon the completion of the holding period for a qualifying investment that was
given an investOhio transaction ID, the small business enterprise shall supply
to the director evidence of its continuous ownership of the property it
acquired or employment positions it funded pursuant to division (A)(1)(c) of
section 122.86 of the Revised Code. (C) The director shall not issue a tax credit if an
eligible investor fails to retain an ownership interest greater than or equal
to that which it acquired as a result of the investment of money for the
entirety of the holding period. (D) The director shall not issue a tax credit for property
the small business enterprise failed to retain for the entirety of the holding
period. (E) In the event that an eligible investor is a
pass-through entity in which only some of the participating owners or members
have held their equity or other ownership interests in the small business
enterprise for the applicable holding period, the director shall issue tax
credit certificates to only those owners or members who held their interests
for applicable holding period. (F) When the director disqualifies a small business
investment certificate, or any portion thereof, the director shall restore that
amount to the investOhio program and follow the procedures set forth in
paragraph (E) of rule 122:24-1-06 of the Administrative Code to continue to
award tax credits to investOhio transaction IDs that have not received either
their full allocation of tax credits or any tax credit. The director shall
cease reinstatement under this division upon the end of each state fiscal
biennium.
Last updated October 25, 2024 at 4:25 PM
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Rule 122:24-1-10 | Disqualification of small business investment certificates.
Effective:
December 27, 2018
(A) A
disqualification of a small business investment certificate may occur at
several points in the procedure: (1) During the process of applying for a small business
investment certificate that is set forth in rule 122:24-1-04 of the
Administrative Code, as such disqualification is further outlined in paragraph
(B) of this rule; or (2) During the validation of the application for a small
business investment certificate that is set forth in rule 122:24-1-05 of the
Administrative Code, as such disqualification is further outlined in paragraph
(C) of this rule; or (3) During the verification of the small business
investment certificate that is set forth in rule 122:24-1-09 of the
Administrative Code, as such disqualification is further outlined in paragraph
(D) of this rule, after the holding period has run. (4) At any time if the director determines that an eligible
investor or the small business enterprise has engaged in any activity that
represents an effort to subvert the purpose of section 122.86 of the Revised
Code. Such efforts shall include, but are not limited to: (a) An investment of
money that is comprised of a loan, granted by or through the small business
enterprise to an eligible investor when the eligible investor intends to make
an investment of money in the small business enterprise; (b) An investment of
money that is derived from a loan in which the assets of the small business
enterprise havd been pledged as collateral or otherwise
encumbered; (c) An investment of
money that is derived from an extraordinary or non-recurring distribution of
equity from the small business enterprise to an eligible investor when the
eligible investor intends to make and investment of money in the same small
business enterprise; or (d) Expenditures allowed
pursuant to division (A)(1)(c) of section 122.86 of the Revised Code but that
are made with a related party. (B) Application disqualifications. If the director
determines that a disqualifying event occurs in an application for a small
business investment certificate (e.g., the investment will not take place
during the current state biennium, the proposed amount of the investment of
money exceeds the amount for which the director may issue tax credits, one of
the registered parties to the transactions is determined to be ineligible to
participate in the investOhio program, etc.), the director shall notify the
small business enterprise and the eligible investor to that transaction of the
disqualifying event in writing via email at the addresses provided in their
respective registrations. Following notification of the parties, the director
may allow the submission of evidence that rebuts the director's
determination, in a time period specified by the director. The director will
issue a final determination if this allows for the submission of rebutting
evidence and such evidence may be provided by either party to the qualifying
transaction. (C) Validation disqualifications. If the director
determines that a disqualifying event occurs during the validation of an
application for a small business investment certificate (e.g., the investment
of money was not used exclusively for the acquisition of an ownership interest,
the small business enterprise does not invest in allowable expenditures, the
small business enterprise does not complete its allowed expenditures within the
statutory six month time period, etc.) has occurred, the director shall notify
the small business enterprise and the eligible investor to that transaction of
the disqualifying event in writing via email at the addresses provided in their
respective registrations. Following notification of the parties, the director
may allow the submission of evidence that rebuts the director's
determination, in a time period specified by the director. The director will
issue a final determination if this allows for the submission of rebutting
evidence and such evidence may be provided by either party to the qualifying
transaction. (D) Verification disqualifications. If the director
determines that a disqualifying event has occurred during the verification
period of a small business investment certificate (e.g., the eligible investor
does not retain its investment for the full holding period, the small business
enterprise does not retain the assets it purchased for the full holding period,
the business enterprise fails to meet the requirements of a small business
enterprise, etc.) has occurred, the director shall notify the small business
enterprise and the eligible investor to that transaction of the
disqualification in writing via email at the addresses provided in their
respective registrations. Following notification of the parties, the director
may allow the submission of evidence that rebuts the director's
determination, in a time period specified by the director. The director will
issue a final determination if he/she allows for the submission of rebutting
evidence and such evidence is provided by either party to the qualifying
transaction. (E) Effect of disqualifications. If a disqualifying event
occurs, the director will determine the effect of the disqualifying event and
adjust the amount of the requested tax credit to align with the proper amount
of the investment of money and corresponding allowable expenditures. If any
amounts of investment are disqualified, the director will restore that amount
to the investOhio program. The director will then resume processing qualifying
transactions that have not received either their full allocation of tax credit
or any tax credit in order of their investOhio transaction ID. The director
shall stop processing transactions again once it has again met the limitation
described in paragraph (F) of rule 122:24-1-06 of the Administrative
Code.
Last updated October 25, 2024 at 4:25 PM
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Rule 122:24-1-11 | Maintenance of records.
Effective:
March 29, 2012
(A) Both eligible investors and small business enterprises shall be required to maintain records necessary to prove that they meet the various requirements of section 122.86 of the Revised Code. The burden of proof shall rest with the eligible investor and the small business enterprise and compliance with the suggestions below does not shift the burden of proof to the state, the director, or the tax commissioner. (B) All records must be preserved for a period of five years from the completion of the applicable holding period for the qualifying investment, as described in division (A)(4) of section 122.86 of the Revised Code. (C) Each eligible investor intending to claim the nonrefundable investment credit must maintain, among other things, complete and accurate records to establish the time of investment and amount of their qualifying investment in a small business enterprise. This documentation could include: (1) Records establishing an equity interest such as stock certificates, membership certificates, partnership agreements, corporate minutes, documentation of the entity's ownership structure immediately before and immediately after the investment, or other legal documents; (2) Records establishing the date and amount of the investment such as cancelled checks, wire transfer authorization, journal entries of the small business enterprise, or the equity accounts of the small business enterprise. (D) Each small business enterprise must maintain, among other things, complete and accurate records to establish its qualification as a small business enterprise. This documentation includes: (1) Payroll policies establishing the entity's criteria for an employee being full-time, as well as payroll records showing names and hours of all employees both in Ohio and in the United States. (2) Records necessary to establish and validate the date, amount and location of the investments described in division (A)(1)(c) of section 122.86 of the Revised Code. This could include contracts, purchase invoices, sales invoices, cancelled checks, wire transfer authorization, bank records, or registration documents. (E) The failure to maintain complete records which may be used in verifying the accuracy of the figures reported by the investors or small business enterprises may result in the disqualification of the small business investment certificate, or the nonrefundable investment credit being denied.
Last updated October 25, 2024 at 4:25 PM
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Rule 122:24-1-12 | Signature; Trade Secrets; Redactions.
Effective:
March 29, 2012
(A) The registration, validation of the investment of money, and validation of the allowed expenditures submitted by a eligible investor or small business enterprise pursuant to the rules set forth in Chapter 122:24-1 of the Administrative Code shall include an attestation that the document has been completed by an authorized representative of the entity required to complete the document or form that the information contained in the application or report is true, correct, and complete. (B) Either an eligible investor or a small business enterprise may apply for the small business investment certificate described in division (B) of section 122.86 of the Revised Code. At that time, the party that does apply will be required to certify that to the best of their knowledge all of the information contained in the request is a truthful and accurate representation of the qualifying investment. (C) Information that qualifies as a trade secret under Ohio law may be exempt from release as a public record pursuant to section 122.36 of the Revised Code. State law generally requires that documents containing both trade secret information and non-confidential information be disclosed with trade secret information redacted. To assist the director in identifying trade secret information submitted to the director as part of an application for certification or otherwise in connection with the certification of a qualified energy project, the applicant should mark trade secret information by placing an asterisk before and after each line containing trade secret information and underlining the information considered to be a trade secret.
Last updated October 25, 2024 at 4:25 PM
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Rule 122:24-1-13 | Delegation of functions.
Effective:
December 27, 2018
Except as provided in this rule, each and any of
the powers and duties of the director under this chapter may be performed by
the assistant director of development or such other officers and employees of
the development services agency as may be designated in writing by the director
or such assistant director. Any such designation under this chapter shall
continue to be effective unless and until it is terminated or superseded in
writing, notwithstanding any succession in the office of director or assistant
director. Any reference in this chapter to the director includes the assistant
director or such other designated officers or employees.
Last updated October 25, 2024 at 4:25 PM
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Rule 122:24-1-14 | Severability.
Effective:
March 29, 2012
If any clause, provision or application of any of the rules in Chapter 122:24-1 of the Administrative Code is determined to be invalid or unenforceable, such determination shall not affect the remainder of such rule, other application of the rule, or application of other rules of this chapter, which shall be applied as if the invalid or unenforceable portion, application or references to the invalid or unenforceable portion did not exist.
Last updated October 25, 2024 at 4:25 PM
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