Ohio Code 126.62 – All Ohio future fund
(A) The all Ohio future fund is hereby created in the state treasury. The fund shall consist of money credited to it and any donations, gifts, bequests, or other money received for deposit in the fund. All investment earnings of the fund shall be credited to the fund. Money in the fund shall be used to promote economic development throughout the state, including infrastructure projects and other infrastructure improvements.
Terms Used In Ohio Code 126.62
- 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
- state: means the state of Ohio. See Ohio Code 1.59
(B) The director shall adopt rules in accordance with Chapter 119 of the Revised Code that establish requirements and procedures to provide financial assistance from the all Ohio future fund. The director shall consult with JobsOhio in adopting the rules.
(C) No money shall be expended from the all Ohio future fund, pursuant to appropriation, until it has been released by the controlling board.
Last updated September 21, 2023 at 5:56 PM