The bill establishes the Political Subdivision Consolidation Incentive Grant Pilot Program, which will be administered by the Secretary of State to provide financial grants to political subdivisions that undergo mergers. A "merger" is defined as the process where one political subdivision absorbs another or multiple subdivisions combine to form a new entity, excluding joint districts. Eligible entities for grants include townships and municipal corporations that merge under specific provisions of the Revised Code, as well as other political subdivisions of similar nature. The bill specifies that only mergers effective after the bill's enactment date qualify for grants, which will be awarded on a first-come, first-serve basis, subject to available funding.

The grant amounts are determined based on the population of the merged entity and the budget of the merging subdivisions. Townships and municipal corporations can receive a maximum grant of $2.5 million, while other political subdivisions can receive up to $1 million. The bill also includes appropriations totaling $25 million from the General Revenue Fund to support the program, with provisions for reappropriating any unspent funds into the following fiscal year.