SB 224 Summary

• Establishes the Ohio Promise Scholarship Program, awarding scholarships to eligible Ohio high school graduates (top one-third of class, 3.0+ GPA) attending eligible in-state institutions, with maximum awards ranging from $2,750 to $7,000 depending on institution type and renewable for up to four academic years.

• Authorizes the Department of Administrative Services to solicit proposals and negotiate contracts for a private entity to purchase or lease the right to manage and operate the State Lottery, with proceeds paid to the Ohio Promise Scholarship Program Fund.

• Authorizes the Department to negotiate a public-private lease agreement (not to exceed 50 years) for a private entity to operate the Ohio Turnpike, with compensation first used to pay existing debt obligations and then directed to the Ohio Promise Scholarship Program Fund.

• Abolishes the Ohio Turnpike Commission upon transfer of the Ohio Turnpike to a private entity, with the Turnpike Oversight Committee expanded from six to ten members to provide oversight of private operations.

• Makes the bill contingent on voter approval of a constitutional amendment (in 2009 or 2010 election) authorizing the state lottery to be operated by a private entity and allowing lottery net profits to fund scholarships in addition to education programs.