The bill proposes the enactment of section 175.50 of the Revised Code, which establishes grant programs aimed at assisting homeowners in Ohio with mortgage, property tax, and utility bill payments. The legislation introduces definitions for key terms such as "homeowner" and "utility," and creates two specific programs: the "Save the Dream Ohio" program for mortgage assistance and the "Save the Dream Ohio Utility Assistance Plus" program for utility costs. The Ohio Housing Finance Agency is tasked with administering these programs, utilizing up to ten million dollars in available funds, and these programs will not be subject to the income limits typically imposed by the agency.

Eligibility for the grants is defined by two criteria: the homeowner's adjusted gross income must not exceed seventy-five thousand dollars, and the applicant must be either sixty-five years or older, disabled, or a caretaker of a disabled individual. Homeowners can apply for multiple grants, but the total amount received in a calendar year is capped at three thousand dollars. The Ohio Housing Finance Agency is also required to adopt rules for the administration of these programs, including application procedures and criteria for determining disability status.