The bill seeks to amend section 151.40 of the Revised Code and introduce new sections (122.65 to 122.659) to restore and enhance the Clean Ohio Fund, which will be managed by the Department of Development and the newly established Clean Ohio Council. This council will consist of appointed members from various sectors, including development, environmental protection, and local government, and will oversee the application process for grants and loans aimed at brownfield cleanup projects. Key definitions related to brownfield remediation are included, and the bill emphasizes compliance with applicable cleanup standards, requiring applicants to conduct public meetings and submit detailed applications for funding.

Additionally, the bill outlines the financial management of the Clean Ohio Revitalization Fund, detailing how funds will be allocated for assessments, project grants, and administrative costs. It specifies that applicants will not be liable for cleanup costs associated with hazardous substances if they comply with the law and conduct necessary assessments. The bill also introduces provisions for bond proceedings, clarifying the responsibilities and rights of obligation holders, while repealing the existing section 151.40 to update the legal framework governing these financial instruments. Overall, the legislation aims to improve oversight, accountability, and funding for brownfield redevelopment efforts in Ohio.

Statutes affected:
As Introduced: 151.40