The JobsOhio Transparency Act aims to improve oversight and transparency of JobsOhio, a nonprofit corporation focused on economic development in Ohio. Key provisions include a requirement for the state auditor to conduct biennial audits of JobsOhio and any nonprofit entity it solely owns, assessing the legality and accuracy of financial reports and compliance with laws. These audits will collect specific data, such as employee salaries, and the results must be reported to state officials, including the governor and legislative leaders. The bill also allows the controlling board to withhold funds from JobsOhio for non-compliance with auditing requirements and clarifies that JobsOhio does not act as an agent of the state.

Additionally, the act mandates that JobsOhio disclose annually on its public website all corporations it sponsors and media partners, detailing names, funding amounts, and approval individuals. It modifies existing language regarding compensation, ensuring that JobsOhio can be compensated from appropriated funds. The bill also introduces new requirements for extending transfer agreements related to enterprise acquisition projects, necessitating public hearings, independent valuations, and fair market value payments to JobsOhio. Furthermore, it emphasizes responsible management of profits from spirituous liquor, aiming to prevent waste or fraud. Existing sections of the Revised Code are repealed to support these changes, reinforcing the General Assembly's commitment to enhancing oversight of JobsOhio's operations.

Statutes affected:
As Introduced: 187.01, 187.04, 4313.02