The bill seeks to restore the Clean Ohio Fund, which will be managed by the Department of Development and the newly formed Clean Ohio Council. It amends section 151.40 and introduces new sections (122.65 to 122.659) in the Revised Code, defining essential terms related to brownfield cleanup, such as "applicable cleanup standards" and "cleanup or remediation." The Clean Ohio Council will consist of appointed members from various sectors and will oversee the approval of funding applications for brownfield projects. The application process requires public meetings and detailed submissions, with the Council ensuring compliance with established requirements. If approved, funding can cover up to 75% of project costs, contingent on meeting specific cleanup standards.

Additionally, the bill emphasizes transparency and public involvement in the funding process, mandates the employment of certified professionals for compliance, and establishes a no further action letter to certify cleanup completion. It prioritizes projects that provide economic and environmental benefits, particularly in low-income and minority communities, and outlines a selection process for grant and loan applications. The Clean Ohio Revitalization Fund will be established within the state treasury, funded through various sources, and will cover reasonable administrative costs and project funding. The bill also clarifies the management of funds, liability protections for applicants, and introduces new provisions regarding bond proceedings, while repealing the existing section 151.40 of the Revised Code to update the legal framework governing these financial instruments.

Statutes affected:
As Introduced: 151.40