OH SB340

Establishes Workforce Voucher Program: Creates a program administered by the Department of Development that awards vouchers up to $5,000 annually or 75% of tuition (whichever is less) to eligible students pursuing qualifying degrees, certifications, or licenses leading to in-demand jobs.

Program Structure and Requirements: Distributes vouchers equally across five state regions; requires recipients to complete curriculum including employer skills and student loan counseling; mandates work experience (30-90 days) or internship participation; greatest portion of voucher paid upon program completion and job-seeking.

High School Promotion: Requires public high school counselors to inform 11th grade students about the program annually and promote it per department guidance; Department of Education distributes promotional materials to counselors.

Tax Credit for Graduates: Authorizes a 10% tax credit against income tax liability for workforce voucher graduates employed in in-demand jobs during the first five years after degree completion, based on principal and interest paid on eligible student loans.

Temporary Program with Sunset: Appropriates $30 million total ($15M to Department of Development, $2.5M to Department of Education for each fiscal year 2024-2025); repeals the voucher program and related provisions two years after the bill's effective date.