3317.17 Payment to certain districts saving state money by changing manner of providing vocational education.
(A) The board of education of any school district to which all of the following apply may apply to the department of education for funds under this section:
(1) The district has applied for and received a loan from a commercial lending institution under division (E)(3) of section 3313.483 of the Revised Code on or before March 1, 1998, and has outstanding debt from such loan, the district has outstanding debt from borrowing against its spending reserve balance under section 133.301 of the Revised Code prior to March 1, 1998, and the district has outstanding debt from the issuance of tax anticipation notes pursuant to section 5705.194 of the Revised Code.
(2) After incurring such debt described under division (A)(1) of this section the district has implemented a change in the manner of providing vocational education to the students of the district and such change has resulted in a savings of money to the state on its expenditures for vocational education.
(3) Within two years prior to the application for funds under this section, the district has passed a tax levy for operating expenses of at least five mills or its equivalent of property tax, income tax, or a combination of property and income tax.
(B) When any school district applies for a payment under this section, the department of education shall determine if the district meets the requirements of division (A) of this section and, if so, shall calculate the savings to the state in the expenditure of funds for vocational education as a result of the change described under division (A)(2) of this section for the school year in which the change is implemented and shall estimate the savings to the state during the period that includes the year of such implementation and the next fourteen years, assuming such change remains in effect.
(C) If the estimate of division (B) of this section results in a positive amount, except as otherwise provided in division (D) or (E) of this section, the state board shall pay to the district from moneys appropriated for this purpose from the lottery profits education reserve fund the least of the following amounts:
(1) The amount for the fifteen-year period estimated under division (B) of this section;
(2) The amount of all outstanding debt described under division (A)(1) of this section;
(3) Five million dollars.
(D) Applications for funds shall be processed and the full amount of any entitlement to funds shall be distributed to eligible school districts in the order in which complete applications from school districts meeting all requirements of division (A) of this section are received by the state board of education. If insufficient funds are available to distribute the full amount of its entitlement to an eligible district, the state board shall distribute whatever remaining funds are available to that district.
(E) A school district shall only be eligible to file one valid application under this section. No school district shall receive a payment under this section without the prior approval of the controlling board. Districts shall expend a payment received under this section only for the repayment of outstanding debt described under division (A)(1) of this section.
(F) During the fifteen-year period following the implementation of a change in the provision of vocational education for the purposes of this section, no district board of education that receives a payment under this section shall implement any change in the provision of vocational education without the prior written approval of the department of education. Any board of education implementing such a change without the prior written approval of the department shall, pursuant to the rules of the state board, repay a pro rata portion of the payment received under this section based upon the length of time it failed to maintain such change and the resultant increased cost to the state. Any repayment shall be deposited in the lottery profits education reserve fund.
3317.17 Payment to certain districts saving state money by changing manner of providing vocational education.
(A) The board of education of any school district to which all of the following apply may apply to the department of education for funds under this section:
(1) The district has applied for and received a loan from a commercial lending institution under division (E)(3) of section 3313.483 of the Revised Code on or before March 1, 1998, and has outstanding debt from such loan, the district has outstanding debt from borrowing against its spending reserve balance under section 133.301 of the Revised Code prior to March 1, 1998, and the district has outstanding debt from the issuance of tax anticipation notes pursuant to section 5705.194 of the Revised Code.
(2) After incurring such debt described under division (A)(1) of this section the district has implemented a change in the manner of providing vocational education to the students of the district and such change has resulted in a savings of money to the state on its expenditures for vocational education.
(3) Within two years prior to the application for funds under this section, the district has passed a tax levy for operating expenses of at least five mills or its equivalent of property tax, income tax, or a combination of property and income tax.
(B) When any school district applies for a payment under this section, the department of education shall determine if the district meets the requirements of division (A) of this section and, if so, shall calculate the savings to the state in the expenditure of funds for vocational education as a result of the change described under division (A)(2) of this section for the school year in which the change is implemented and shall estimate the savings to the state during the period that includes the year of such implementation and the next fourteen years, assuming such change remains in effect.
(C) If the estimate of division (B) of this section results in a positive amount, except as otherwise provided in division (D) or (E) of this section, the state board shall pay to the district from moneys appropriated for this purpose from the lottery profits education reserve fund the least of the following amounts:
(1) The amount for the fifteen-year period estimated under division (B) of this section;
(2) The amount of all outstanding debt described under division (A)(1) of this section;
(3) Five million dollars.
(D) Applications for funds shall be processed and the full amount of any entitlement to funds shall be distributed to eligible school districts in the order in which complete applications from school districts meeting all requirements of division (A) of this section are received by the state board of education. If insufficient funds are available to distribute the full amount of its entitlement to an eligible district, the state board shall distribute whatever remaining funds are available to that district.
(E) A school district shall only be eligible to file one valid application under this section. No school district shall receive a payment under this section without the prior approval of the controlling board. Districts shall expend a payment received under this section only for the repayment of outstanding debt described under division (A)(1) of this section.
(F) During the fifteen-year period following the implementation of a change in the provision of vocational education for the purposes of this section, no district board of education that receives a payment under this section shall implement any change in the provision of vocational education without the prior written approval of the department of education. Any board of education implementing such a change without the prior written approval of the department shall, pursuant to the rules of the state board, repay a pro rata portion of the payment received under this section based upon the length of time it failed to maintain such change and the resultant increased cost to the state. Any repayment shall be deposited in the lottery profits education reserve fund.
3317.17 Payment to certain districts saving state money by changing manner of providing vocational education.
(A) The board of education of any school district to which all of the following apply may apply to the department of education for funds under this section:
(1) The district has applied for and received a loan from a commercial lending institution under division (E)(3) of section 3313.483 of the Revised Code on or before March 1, 1998, and has outstanding debt from such loan, the district has outstanding debt from borrowing against its spending reserve balance under section 133.301 of the Revised Code prior to March 1, 1998, and the district has outstanding debt from the issuance of tax anticipation notes pursuant to section 5705.194 of the Revised Code.
(2) After incurring such debt described under division (A)(1) of this section the district has implemented a change in the manner of providing vocational education to the students of the district and such change has resulted in a savings of money to the state on its expenditures for vocational education.
(3) Within two years prior to the application for funds under this section, the district has passed a tax levy for operating expenses of at least five mills or its equivalent of property tax, income tax, or a combination of property and income tax.
(B) When any school district applies for a payment under this section, the department of education shall determine if the district meets the requirements of division (A) of this section and, if so, shall calculate the savings to the state in the expenditure of funds for vocational education as a result of the change described under division (A)(2) of this section for the school year in which the change is implemented and shall estimate the savings to the state during the period that includes the year of such implementation and the next fourteen years, assuming such change remains in effect.
(C) If the estimate of division (B) of this section results in a positive amount, except as otherwise provided in division (D) or (E) of this section, the state board shall pay to the district from moneys appropriated for this purpose from the lottery profits education reserve fund the least of the following amounts:
(1) The amount for the fifteen-year period estimated under division (B) of this section;
(2) The amount of all outstanding debt described under division (A)(1) of this section;
(3) Five million dollars.
(D) Applications for funds shall be processed and the full amount of any entitlement to funds shall be distributed to eligible school districts in the order in which complete applications from school districts meeting all requirements of division (A) of this section are received by the state board of education. If insufficient funds are available to distribute the full amount of its entitlement to an eligible district, the state board shall distribute whatever remaining funds are available to that district.
(E) A school district shall only be eligible to file one valid application under this section. No school district shall receive a payment under this section without the prior approval of the controlling board. Districts shall expend a payment received under this section only for the repayment of outstanding debt described under division (A)(1) of this section.
(F) During the fifteen-year period following the implementation of a change in the provision of vocational education for the purposes of this section, no district board of education that receives a payment under this section shall implement any change in the provision of vocational education without the prior written approval of the department of education. Any board of education implementing such a change without the prior written approval of the department shall, pursuant to the rules of the state board, repay a pro rata portion of the payment received under this section based upon the length of time it failed to maintain such change and the resultant increased cost to the state. Any repayment shall be deposited in the lottery profits education reserve fund.
