(A) As used in this section:
(2) "Facility" means an ethanol production plant that will be located in this state.
(B) There is hereby created the ethanol incentive board. The board shall consist of the following five members: the director of agriculture, who shall serve as chairperson of the board, the director of development, the executive director of the Ohio air quality development authority, one member appointed by the speaker of the house of representatives, and one member appointed by the president of the senate. Initial appointments to the board shall be made within thirty days of the effective date of this section. Vacancies shall be filled in the same manner provided for original appointments. Members of the board shall serve without compensation. The board shall meet and conduct its business as directed by the chairperson. The board shall cease to exist January 1, 2014.
(C) The board's sole duty is to review any application that is submitted to it under this section. The board shall approve an application only if it determines, by the affirmative vote of all members of the board, that the applicant's business plan for a facility meets the requirements established by division (D) of this section.
(D) The owner of a facility may apply to the board, on an application provided by the director of agriculture, for approval of the facility's business plan under this section. Within sixty days of receipt of an application, the board shall determine whether the applicant's business plan meets the following requirements:
(1) The business plan is for the construction and operation of a facility.
(2) The business plan contains detailed information regarding:
(a) The availability and price of corn in the area where the facility will be located;
(b) The availability and cost of energy needed for operation of the facility;
(c) The availability of water and waste disposal systems in the area where the facility will be located;
(d) The availability of labor and a qualified site manager for the facility.
(3) The business plan analyzes any proposed marketing agreements for the products produced by the facility.
(4) The facility to be constructed and operated under the business plan is majority-owned by Ohio farmers or will be prior to the first day the facility commences production.
(5) The business plan meets any other requirements established by the board under rules adopted in accordance with division (G) of this section.
The board shall issue a certificate of approval for each application approved under this section, and any taxpayer that invests money in the facility for which a business plan has been approved may claim a tax credit for such investment under section 5733.46 or 5747.75 of the Revised Code.
(F) The board shall notify the tax commissioner of any certificate of approval issued under this section, within ten days of its issuance.
(G) The director of agriculture, in consultation with the director of development and in accordance with Chapter 119. of the Revised Code, shall adopt rules necessary to implement this section, including rules prescribing procedures and forms for administering this section.
Effective Date: 03-21-2002