S.B. No. 276 Summary

• Introduces Program Three for rural business growth funds certified after the bill's effective date, with up to $150 million in eligible investment authority and $90 million in credit-eligible contributions.

• Adds "Tier Four rural area" definition encompassing counties in Ohio's Appalachian region and establishes separate investment requirements for Program Three funds focusing on Tier Two, Three, and Four rural areas.

• Modifies investment thresholds for Program Three funds to require 25% investment within one year, 50% within two years, and 100% within three years with at least 50% in Tier Four rural areas and 75% in Tier Two-Four areas combined.

• Adjusts single business investment caps by program: Program One at 20% of fund authority, Program Two at $5 million, and Program Three at $7.5 million.

• Establishes differentiated state reimbursement formulas for Program Three based on investment location, using $30,000 per employee for Tier One-Two areas and $60,000 per employee for Tier Three-Four areas.