OH HB371

Redefines "political subdivision" in the Local Government Innovation Program to reference the definition in section 2744.01 of the Revised Code instead of listing specific entity types.

Modifies council composition by changing the member appointed by the chancellor of the board of regents to be governor-appointed upon the chancellor's recommendation, and adjusts initial appointment terms from two two-year terms to three one-year terms and two two-year terms.

Increases award limits: individual political subdivisions may receive up to $100,000 in grants and $100,000 in loans (separated from prior combined limit), while groups of political subdivisions may receive up to $500,000 total with an average of $100,000 per subdivision.

Establishes that loan repayments and interest are credited back to the Local Government Innovation Fund to support future awards.

Appropriates $175,000 to the Local Government Innovation Fund for fiscal year 2012 administrative costs and $44,825,000 for fiscal year 2013 project funding, transferred from the General Revenue Fund.