H.B. No. 771 Summary

• Establishes the Ohio Medical-Isotope Economic Development Authority and Consortium to make Ohio a national and global leader in medical isotope production and nuclear waste reduction.

• Creates a 9-member authority appointed by the governor, speaker of the house, and senate president, with expertise in nuclear safety, industry operations, and engineering research.

• Authorizes the treasurer of state to conduct initial stock offering of 20 million shares at $50 per share, with online trading exchange and monthly administrative fees for purchasers.

• Provides nonrefundable state tax credits for investors purchasing consortium stock, with credit percentages ranging from 25% in year one to 100% in year fifteen, claimable against multiple state tax types.

• Allows the consortium to raise private funds for nuclear research, development, and commercialization of advanced reactor components and medical isotope technologies, with potential to construct demonstration power-producing reactors.