(A) The secretary of state shall distribute to the county recorders of the counties of this state an amount equal to the fees collected by the secretary of state for filing and indexing financing statements communicated to the office of the secretary of state in writing under division (A) of section 1309.525 of the Revised Code, to the extent that the general assembly appropriates money for that purpose, multiplied by the following percentages:
(1) For the period of July 1, 2001, to June 30, 2002, that amount multiplied by fifty per cent.
(2) For the period of July 1, 2002, to June 30, 2003, that amount multiplied by forty per cent.
(3) For the period of July 1, 2003, to June 30, 2004, that amount multiplied by thirty per cent.
(4) For the period of July 1, 2004, to June 30, 2005, that amount multiplied by twenty per cent.
(5) For the period of July 1, 2005, to June 30, 2006, that amount multiplied by ten per cent.
(B) The secretary of state shall make distributions to the county recorders pursuant to division (A) of this section so that the county recorder of each county receives a share of the aggregate amount so distributed equal to, as nearly as may be, the percentage that the fees collected by that county recorder under sections 1309.38 to 1309.431 of the Revised Code for calendar year 1998 bore to the total of the fees collected by the county recorders of all counties under those sections for that calendar year. The percentage allocations among the county recorders of the counties shall be based upon the fee collection information for calendar year 1998 for each county provided to the secretary of state on or before October 31, 2001, by the association of county recorders of this state. The secretary of state may distribute those amounts from time to time as the secretary of state so determines but no less frequently than annually, and in any case shall commence those distributions not later than September 30, 2002.
Effective Date: 07-01-2001
Related Legislative Provision: See 129th General AssemblyFile No.94,SB 208, §6