The Speaker of the House has declared the House on recess until September 14. As such, legislation will not be heard in committee until that time. Below please see an overview of bills that have been enacted during the first six months of 2010 that may affect your business. Also provided is a list of legislation that has passed the House.Enacted Legislation:
House Bill 300: Makes changes to insurance agent and surety bail bond agent licensure requirements, including examination requirements, filing a change of address, application requirements, criminal records checks, and continuing education. Requires biennial renewal for insurance agents and makes changes to the license renewal requirements for surety bail bond agents. Effective February 25, 2010
House Bill 414: Pursuant to the Ohio Constitution, creates the Ohio Livestock Care Standards Board consisting of specified members, and establishes the terms of office for the members of the Board. Requires the Board to adopt rules governing the care and well-being of livestock in this state, including best management practices for the care and well-being of livestock and the prevention of disease, and establishing the amount of civil penalties to be assessed against person who violate the rules. Effective March 31, 2010
Senate Bill 131: Requires the Director of Administrative Services, not later than 180 days after the Act's effective date, to establish a biobased product preference program that incorporates specified requirements. Generally requires the DAS, other state agencies, and state institutions of higher education, when purchasing equipment, material, or supplies, to purchase biobased products in accordance with the program. Authorizes the Director to determine that it is not possible for a biobased product to be purchased in accordance with the program if the Director finds that the product: (1) is not available within a reasonable period of time, (2) fails to meet certain performance standards, or (3) is available only at an unreasonable price, and defines unreasonable price for such a purpose. Effective March 24, 2010
Senate Bill 162: Specifically applies the provisions of the New Motor Vehicle Franchisee Law, as
amended by the bill, to the cancellation of a franchise. Requires a franchisor proposing to terminate a franchise or specified reasons to provide notice 12 months prior to the effective date of the termination. Specifies that a ranchise continues in full force and operation notwithstanding a change of an established plan or system of listribution of the motor vehicles offered for sale under the franchise. Requires the franchisor to pay fair and reasonable compensation to the new motor vehicle dealer upon the franchisor's termination of the franchise, including the franchise's fair market value, new motor vehicle inventory, and certain other items. Effective September 10, 2010
Legislation passed by the Ohio House:
House Bill 39: Requires the removal of snow or ice from special parking locations that are designated for persons with disabilities if snow or ice has been removed from nonspecial parking locations that are located in the same parking area as the special parking locations, and requires violators to pay a fine between $250 and $500. Prohibits a political subdivision of the state from failing to remove snow or ice that obstructs access to a special parking location if snow or ice has been removed from a public road on which the special parking location is located and if the political subdivision has jurisdiction over the public road and the special parking location.
House Bill 329: Provides for a six-year trial period during which an employer may include the income tax withholdings of a limited number of its employees who work from home and whose rate of pay is at least four times the federal minimum wage for purposes of calculating its job creation or job retention tax credit base, if the employer has made a minimum amount of capital investment in the project.
House Bill 348: Increases the Venture Capital Authority's annual tax credit authorization from $20 million to $26.5 million and lifetime authorization from $380 to $550 million. Ohio established The Ohio Capital Fund to help increase private investment in Ohio companies in the early stage of business development.
House Bill 379: Makes changes to the law governing corporations including dissenting shareholders, the dissolution of a corporation, rights to indemnification or advancement of expenses, directors' fiduciary duties, and recording of corporate mortgages. Provides the circumstances in which no relief is available to a dissenting shareholder if an amendment to the articles makes certain changes or in the event of an authorization to lease, sell, exchange, transfer, or otherwise dispose of all or substantially all of the assets of a corporation, including whether the shares of the corporation for which the dissenting shareholder would otherwise be entitled to relief are listed on a National Securities Exchange on a specified date.
House Bill 486: Prohibits licensees under the Check-Cashing Business Law and their affiliates, licensees under the Small Loan Law, and registrants under the Mortgage Loan Law from charging or receiving a fee for cashing a proceeds check or money order that was disbursed to fund a loan made by the licensee or an affiliate of the licensee. Prohibits a licensee or registrant from charging a person a loan origination charge, and prohibits a registrant from charging a credit investigation fee, more than once per any 90-day period on loans of $1,000 or less that are made pursuant to a license issued under the Srall Loan Law or a registration issued under the Mortgage Loan Law.
House Bill 521: Creates the Small Business Working Capital Loan Program authorizing the deposit of up to $100 million in state funds with financial institutions, subject to an agreement whereby the institutions lend money to businesses approved for such loans by selected investment firms.
Visit www.lsc.state.oh.us for more information on these pieces of legislation.
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