Ohio Administrative Code
Title 122 - Development Services Agency
Division 128 - Data Center Tax Exemption
Chapter 122-4 - Restricted Bonds
Section 122-4-05 - Confirmation of state ceiling allocation for issuance of bonds in subsequent years - carryforwards

(1) Except with respect to the Ohio housing finance agency, such notice of intent must be accompanied by such items as the director may require and by a written statement or statements signed by an officer of the issuer or by an officer of the benefited enterprise setting forth, as pertinent:

(2) Upon receipt of a carryforward confirmation pursuant to paragraph (B) of this rule, the issuing authority will be responsible timely for filing "IRS Form 8328" (or such other form as may be prescribed by the internal revenue service for that purpose. The Ohio housing finance agency may submit an "IRS Form 8328" (or such other forms as may be prescribed by the internal revenue service for the purpose) that is complete with respect to all such agency's carryforward allocations under paragraph (A)(1) or (A) (6) of rule 122-4-02 of the Administrative Code.

(3) A notice of intent for carryforward must also be accompanied by a fee in an amount equal to the lesser of three quarters of one per cent of the amount requested in the notice of intent or five hundred thousand dollars, plus a one thousand dollar filing fee. The amount of the fee equal to the lesser of three-quarters of one per cent of the amount requested in the notice of intent or five hundred thousand dollars will be refunded within thirty days after the determination that a carryforward confirmation will not be issued for the notice of intent. If a carryforward confirmation is issued for the full amount requested in a notice of intent, the amount of the fee referenced in the previous sentence will be refunded within thirty days after one or more notices of issuance for the carryforward confirmation are received by the director evidencing use of the carryforward confirmation. If a carryforward confirmation is issued for only a portion of the amount requested in a notice of intent, the borrower of the proceeds of the related bonds may elect within ten days after the carryforward confirmation is issued either to (a) decline to accept the confirmation and the amount of the fee paid equal to the lesser of three-quarters of one per cent of the amount requested in the notice of intent or five hundred thousand dollars will be refunded within thirty days after a written election is filed with the director, or (b) accept the carryforward confirmation and an amount equal to the difference between (x) the lesser of three-quarters of one per cent of the amount requested in the notice of intent or five hundred thousand dollars, whichever was paid, and (y) the lesser of three-quarters of one per cent of the amount for which the carryforward confirmation is issued or five hundred thousand dollars, will be refunded after a written election of the declination or acceptance of the confirmation is filed with the director. The amount of the fee retained by the director pursuant to paragraph (A)(3)(b) of this rule of the preceding sentence will be refunded within thirty days after one or more notices of issuance for the carryforward confirmation are received by the director evidencing use of the carryforward confirmation. The amount of the fee equal to one thousand dollars will not be refunded under any circumstance. Nothwithstanding the foregoing, the Ohio housing finance agency will not be required to pay the fees contemplated by this paragraph.

(4) A notice of intent for carryforward filed after the second Thursday of December as provided in paragraph (A) of this rule may or may not, be considered, in the director's discretion.

(5) With respect to a notice of intent by the Ohio housing finance agency for carryforward referred to in paragraph (A)(1)(b) of rule 122-4-02 of the Administrative Code, the time for filing is governed by that paragraph. Paragraphs (A)(1), (A)(3) and (B)(1) of this rule do not apply to the carryforwards referred to in paragraph (A)(1)(b) of rule 122-4-02 of the Administrative Code.

(6) With respect to a notice of intent filed by the Ohio housing finance agency for carryforward in a given year under this rule or under paragraph (A)(1)(b) of rule 122-4-02 of the Administrative Code, such carryforward will relate to any of its lawful purposes and such notice of intent will be filed by the Ohio housing finance agency with director by five p.m. on January twentieth of the next subsequent year.

(1) All properly completed (including required accompanying items) notices of intent for carryforward which are received as provided in paragraph (A) of this rule will be considered, without regard to the order of filing of such notices of intent, for the allocation of the balance of the state ceiling for that year. Confirmations will be made upon some or all of those notices of intent, and for all or a portion of the amount stated in the notice of intent, which would, in the judgment of the director, upon guidance from the select committee, best serve the interests of the state, taking into account the factors stated in section 133.021 of the Revised Code and the following considerations:

(2) Rule 122-4-03 of the Administrative Code does not apply to carryforward confirmations. Issuers with a confirmation of a carryforward amount received pursuant to paragraph (B) of this rule shall not be required to issue the bonds or mortgage credit certificates at any time in advance of the date of termination of the effectiveness of the carryforward or termination of the authority to issue tax-exempt bonds or mortgage credit certificates for the carryforward purpose under the Internal Revenue Code, as applicable, unless and to the extent provided in an order by the director, and shall, for purposes of information, file a notice of issuance with the director on or prior to the fifteenth day after the date on which such bonds are issued. A notice of issuance or, in lieu thereof, the applicable IRS form of mortgage credit certificates, shall be filed as provided in paragraph (E) of rule 122-4-03 of the Administrative Code.