H.B. 531 Summary

• Establishes that JobsOhio must submit to annual audits by the Auditor of State under a newly created section 117.561 of the Revised Code

• Requires JobsOhio audits to include examination of revenues, receipts, and expenditures associated with the enterprise acquisition project under section 4313.02 of the Revised Code

• Allows the Auditor of State to engage an independent certified public accountant to conduct JobsOhio audits, selected in consultation with JobsOhio's audit committee

• Modifies the definition of "public money" in section 117.01 to exclude enterprise acquisition project revenues in the hands of JobsOhio or related nonprofit entities, while still including taxes and amounts due to the state general revenue fund

• Amends section 187.01 to require JobsOhio's articles of incorporation to establish an audit committee to consult with the Auditor of State regarding audits and compliance oversight