With the Nov. 8 passage of the constitutional amendment -- Issue 1, the General Assembly must now take up legislation to implement the Third Frontier amendment.

The amendment said that the General Assembly would provide for ensuring the accountability of all state funding provided for the purposes described in the amendment.

The amendment also instructed the General Assembly to include economically disadvantaged businesses and individuals in all areas of this state in its implementation.

Policy Matters Ohio points to a bipartisan "Agreement in Principle" which was reached by legislative leadership last summer on the implementing language. It called for "accountability, integrity and transparency with respect to the disbursement of funds for the three component of the bond issuance.

Policy Matter Ohio goes on to say: "In order to ensure accountability and maximize benefits, the Legislature should also consider the following recommendations:

"* Disclosure rules that provide a full accounting for the progress being made by beneficiaries of the program, as well as public access to records and meetings;

"* Periodic outside review of the program by the Auditor of State;

"* Availability to the State of Ohio and local governments at favorable terms of products and services commercialized using Third Frontier funds;

"* A transparent and competitive selection process for loans, grants, and all other forms of assistance;

"* Competitive bidding for all contracts let by the Ohio Department of Development (ODOD) and other state agencies for program administration and requirements for the review of potential conflicts-of interest by contractors and their employees;

"* Expansion of the Third Frontier Advisory Board in keeping with the amendment's promise to include economically disadvantaged businesses and individuals and to better reflect the broad range of policy issues affected by the program; and

"* A thorough, outside review of the issues raised by public funding of the creation, use, and disposition of intellectual property, which will serve as the basis for a legislative study committee on this topic."

According to Speaker Jon Husted's (R-Kettering) office, the House is waiting on the language for the enabling legislation to be completed by the governor.
 

The Hannah Report  11/30/2005  Vol. 126, No. 232

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