Section 3313.377
(A) As used in this section:
(1) "Energy conservation measure" has the same meaning as in section 3313.372 of the Revised Code.
(2) "Energy saving measure" has the same meaning as in section 3313.373 of the Revised Code.
(B) The Ohio facilities construction commission may issue a loan from funds in the school energy performance contracting loan fund created in section 3313.378 of the Revised Code to a board of education of a city, exempted village, local, or joint vocational school district that applies for a loan under section 3313.372 or 3313.373 of the Revised Code.
(C) Nothing in this section prohibits a board of education that receives a loan under this section from utilizing any other energy efficiency program.
(D) The terms of a loan issued under this section shall be as follows:
(1) Two per cent annual interest on the loan;
(2) The full loan amount, plus interest, shall be repaid in not more than ten years from the issuance of the loan;
(3) Repayment on the loan begins six months after the installation of the energy conservation measures is complete or the implementation of energy savings measures is completed;
(4) Any other provision considered appropriate by the commission.
(E) All repayment amounts for any loans issued under this section shall be made to the commission. The commission shall deposit all repayment amounts received in the school energy performance contracting loan fund created in section 3313.378 of the Revised Code.
(F) If the commission enters into an agreement with a board for a loan under this section, the commission shall promptly direct the treasurer of state to remit money from the school energy performance contracting loan fund to the board as provided in the terms of the agreement.
(G) The commission shall adopt rules to implement this section, including a loan application.
Last updated May 22, 2025 at 12:23 PM
Available Versions of this Section
- August 14, 2025 – Enacted by House Bill 15 - 136th General Assembly [ View August 14, 2025 Version ]