The JobsOhio Transparency Act aims to enhance 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 solely owned by it, ensuring the legality and accuracy of financial reports and compliance with applicable laws. The audits will collect specific data, such as employee salaries and the number of employees earning significantly above the median income, with results reported to the governor and legislative leaders. The bill also allows the controlling board to withhold or release funds to JobsOhio based on compliance with these auditing requirements and clarifies that JobsOhio does not act as an agent of the state.

Furthermore, the act introduces several amendments to existing laws, including changing references from "agency" to "department" and removing the requirement for an audit committee within JobsOhio to streamline governance. It mandates that JobsOhio disclose detailed information about corporate sponsorships and media partnerships on its public website, including names, funding amounts, and conflict of interest checks. The bill also sets new conditions for extending transfer agreements related to enterprise acquisition projects, requiring public hearings and independent valuations. Additionally, starting in 2026, the chief investment officer of JobsOhio must report annually to legislative committees on funded projects. Overall, the act seeks to improve accountability and responsible management of state resources.

Statutes affected:
As Introduced: 187.01, 187.04, 4313.02