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 program aims to provide competitive grants to state institutions of higher education to support the development and implementation of student success programs that focus on improving retention and completion rates, particularly for low-income students. The bill defines key terms such as "student success program," "evidence-based reform or practice," and various tiers of evidence-based reforms, which will guide the allocation of funds.

The Chancellor of Higher Education is tasked with administering the grant program, which will prioritize applications proposing tier-three reforms or practices. The bill outlines the requirements for grant applications, including plans for increasing student attainment and completion rates, collaboration with other institutions, and strategies for evaluating the effectiveness of the proposed reforms. Additionally, the Chancellor will develop criteria for awarding grants, focusing on metrics related to student outcomes, access, sustainability, and the evidence supporting the proposed reforms.