OH HB242

Creates the Armed Forces Reserve Component Scholarship Program beginning July 1, 2025, providing 100% tuition coverage for members of U.S. military reserve components (Army, Navy, Marine Corps, Air Force, Coast Guard, Space Force) enrolled full-time in Ohio higher education institutions

Eligible applicants must lack a baccalaureate degree, be enrolled full-time (12+ credit hours per semester or 8+ per quarter) in degree-granting, diploma, or in-demand credential programs, and not have received Ohio National Guard scholarships under existing law

Recipients may receive scholarships for up to 48 eligibility units (equivalent to approximately 4 years of full-time enrollment), with benefits extending up to 5 years after enlistment ends for those called to active duty on or after September 11, 2001

Recipients who fail to complete their enlistment term must repay a prorated percentage of scholarship funds plus 10% annual interest, except in cases of death or disability discharge

Establishes two state treasury funds: the Armed Forces Reserve Component Scholarship Reserve Fund for excess obligations and the Armed Forces Reserve Component Scholarship Donation Fund for private contributions