OH HB301

Extends the Advanced Energy Fund revenue rider on retail electric distribution service rates from January 1, 2011 to January 1, 2014, allowing an additional three years of collections.

Increases the aggregate revenue target cap for the rider from $100 million to $115 million in total fund accumulation before collections terminate.

Requires the director of development to determine grant amounts based on market price of energy and advice from the public benefits advisory board, with grants decreasing annually to fund more projects.

Adds advisory board duties to hold public hearings and advise on Advanced Energy Fund grant award levels under section 4928.62.

Clarifies that remittances from the temporary rider continue until January 1, 2014, or until the fund reaches $115 million (whichever occurs first), while other revenue sources continue until January 1, 2011, or $100 million is reached.