OH HB694

Ohio Facilities Construction Commission gains authority to place liens on state university and college facilities constructed or improved with state funds, with liens lasting 30 years and taking priority over other institutional liens in case of closure or sale

Chancellor of Higher Education must annually assess universities under fiscal watch and can trigger conservator appointment if a school faces severe fiscal difficulties, stops enrollment, withdraws accreditation, or begins winding down operations

Conservator appointments require approval through a new legislative process involving public hearings by both a House committee and Senate higher education committee, with both chambers able to block the appointment

Governor appoints a five-member governance authority within 30 days of conservator appointment, including members with expertise in academic affairs/accreditation and state budgets/finances, which then appoints an executive director to manage day-to-day operations

Repeals sections 154.25 and 3333.59, eliminating the ability for institutions to use state share of instruction allocations as credit enhancement for bond obligations, while allowing the Chancellor to adopt rules for existing agreements