The bill proposes the establishment of the Higher Education Evidence-Based Innovation Fund and Grant Program, as outlined in the newly enacted section 3333.1211 of the Revised Code. This fund will be created within the state treasury and will consist of designated amounts from the General Assembly and private contributions. The funds will be allocated through competitive grants to state institutions of higher education, aimed at supporting the adoption of evidence-based reforms and practices that enhance student success, particularly for low-income students. The chancellor of higher education will oversee the grant program, ensuring that preference is given to applications proposing tier-three reforms or practices.

The bill details the criteria for grant applications, which must include plans to improve student attainment and completion rates, a focus on serving low-income students, and a robust evaluation strategy for the proposed reforms. Additionally, the chancellor, in consultation with relevant departments, will develop metrics for awarding grants based on student outcomes, access, sustainability, and the evidence supporting the proposed reforms. Each institution receiving a grant is required to utilize the funds to implement the programs outlined in their applications.