The Joining-Opportunities Business and Schools (JOBS) Act aims to enhance collaboration between institutions of higher education and private employers in Ohio by providing tax incentives for qualified education partnerships. The bill amends section 5751.98 and enacts new sections 3333.46 and 5751.55 of the Revised Code. It establishes a framework for these partnerships, requiring institutions to develop degree or certificate programs that align with local workforce needs, with significant contributions from private sector partners in terms of curriculum development and resources. Institutions must also maintain academic control and publish completion and job placement rates annually.

Additionally, the bill introduces tax credits for private sector partners that incur qualifying expenses in developing or updating these educational programs. A development tax credit is available for partnerships achieving a 70% completion rate, while a hiring tax credit is offered for those achieving a 70% job placement rate. The credits are capped at 20% of qualifying expenses and $1,000 per graduate hired and retained. The order of claiming these credits is specified, and the existing section 5751.98 is repealed to accommodate these changes. The new provisions will apply to qualifying expenses incurred on or after January 1, 2027.

Statutes affected:
As Introduced: 5751.98