The bill proposes the enactment of section 122.162 of the Revised Code to establish the Manufacturing Technologies Assistance Grant Program, aimed at enhancing the productivity, efficiency, and competitiveness of manufacturing operations in Ohio. The program will allow eligible manufacturers to apply for grants to fund projects that integrate manufacturing technologies and invest in industrial infrastructure. To qualify, manufacturers must meet specific criteria, including operating in Ohio for at least three years, deriving a significant portion of their revenue from manufactured goods, and demonstrating the ability to provide matching funds. The bill outlines the definitions of eligible projects, manufacturers, and expenses, as well as the application process and requirements for grant recipients.

Additionally, the bill allocates $12 million for the program in both fiscal years 2025 and 2026, with a total appropriation of $24 million to be transferred from the General Revenue Fund to the Manufacturing Technologies Assistance Fund. The director of development will oversee the program, including the assessment of applications and the distribution of funds. The bill also includes provisions for record-keeping, reporting, and potential repayment of grant funds under certain circumstances, ensuring accountability and compliance with program requirements.