10 Issues Impacting African-American Businesses

(1) Capital Access Loans for Minority Business Enterprises - R.C. 122.603

Requires a participating financial institution to indicate in its certification for each capital access loan made by the financial institution whether the eligible business receiving the loan is a minority business enterprise. Requires the Director of Development, upon receipt of a certification indicating that a capital access loan was made to a minority business enterprise, to disburse to the participating financial institution 80% of the principal amount of the loan from the Capital Access Loan Program Fund, instead of the percentages disbursed for other capital access loans.

(2) Minority and Women-Owned Investment Managers and Agents -
R.C. 150.05, 150.051, 3334.11, 3334.111, 4123.442, and 4123.446

Permits the Chancellor of the Board of Regents, and the Workers Compensation Investment Committee, to set aside 15% of contracts with agent and investment managers for administration of funds for minority owned and controlled firms, firms owned and controlled by women, and ventures involving minority owned and controlled firms and firms owned and controlled by women that otherwise meet the established policies and criteria. Requires the Ohio Venture 

Capital Authority to give equal consideration, in selecting program administrators, to minority owned and controlled firms, firms owned and controlled by women, and ventures involving minority owned and controlled firms and firms owned and controlled by women that otherwise meet the established policies and criteria.

Requires the Ohio Venture Capital Authority, the Chancellor of the Board of Regents, and the Administrator of Workers Compensation to submit an annual report containing information regarding the minority or women%u2010owned businesses with which it contracts, the amount of assets managed by minority or women%u2010owned businesses, and efforts it has made to increase utilizations of minority or women%u2010owned businesses.

(3) Rules for Application by Minority Business for a Bond - R.C. 122.89

Removes a provision of current law that requires the rules of the Minority Development Financing Advisory Board regarding the establishment of procedures for minority businesses applying for surety bonds and for review and approval of applications to provide that the minority business, in order to make an application for a bond to the Director of Development, to submit documentation, as the Director requires, to demonstrate either that a minority business has been denied a bond by two surety companies or that the minority business has applied to two surety companies for a bond and, at the expiration of 60 days after making the application, has neither received nor been denied a bond.

(4) Ohio Co-op/Internship Program %u2013 R.C. 3333.73

Specifies that the criteria that the Chancellor of the Board of Regents uses in awarding grants under the Program include the extent to which a grant proposal will increase the number of women participating in cooperative education programs and internship programs.

(5) Choose Ohio First Scholarship Program - R.C. 3333.62
Specifies that the criteria the Chancellor of the Board of Regents uses in awarding
grants under the Scholarship Program include the extent to which a grant proposal will
increase the number of women participating in the Scholarship Program.

(6) Community Development Corporations - R.C. 122.71, 122.751, and
122.76
Makes eligible for loans under the minority business enterprise loan program a community development corporation that predominantly benefits minority business enterprises or is located in a census tract that has a population that is 60% or more minority.

(7) Compliance with Executive Order 2008-13S in Complying with the
Minority Set Aside Law and EDGE Business Enterprise Law - R.C. 123.152
and 125.081

Codifies Executive Order 2008%u201013S, which requires state agencies, state universities, and the Ohio Housing Finance Agency, the Third Frontier Commission, the Clean Ohio Council, and the Ohio School Facilities Commission to appoint an Equal Opportunity Officer and to include specified provisions in their contracts for the purchase of goods and services, when complying with the purchasing requirements of the Minority Set Aside Law or the procurement goals of the EDGE Business Enterprise Law.

(8) Deadline for State Agencies to Establish a Long-Term Plan for
Compliance with the Minority Set Aside Law and EDGE Business
Enterprise Law - Section 701.50
Requires state agencies, including state universities and the Ohio Housing Finance Agency, the Third Frontier Commission, the Clean Ohio Council, and the Ohio School Facilities Commission that have failed to comply with set%u2010aside requirements under the Minority Business Enterprise Law, or procurement goals under the EDGE Business Enterprise Law, to establish a long%u2010term plan for compliance by December 31, 2009.

(9) Purchase of Goods and Services under the Minority Set Aside Law by
the Ohio School Facilities Commission and State Universities -
R.C. 125.081
Explicitly requires that the Ohio School Facilities Commission, the Ohio Housing Finance Agency, the Third Frontier Commission, the Clean Ohio Council, and state universities purchase goods and services as required by the Minority Set Aside Law.

(10) Department of Development Program to Encourage Businesses to
Hire Individuals from Significantly Disadvantaged Groups - R.C. 122.042
Authorizes the Department of Development to develop a program to encourage employers to hire individuals from significantly disadvantaged groups, including individuals who have not graduated from high school,