Vote Smart's Synopsis:

Vote to pass a joint resolution that proposes a constitutional amendment to the voters that extends the "Third Frontier" program.

Highlights:

-Increases the principal amount of state general obligations available for public infrastructure capital improvements from $1.35 billion to $1.45 billion, and specifies that up to $200 million principal amount of the obligations may be issued in each of the next two fiscal years. -Increases the amount of general obligation bonds and other state obligations available for research and development in support of Ohio industry, commerce and business from $500 million to $1 billion, and specifies that up to $50 million may be issued in the next three fiscal years, up to $175 million may be issued in the next fiscal year, and up to $125 million in any other fiscal year. -Requires the use of independent reviewers to review proposed research and development projects, requires state agencies to submit a reviewer's name and information to the Governor and to the majority and minority party leadership in the Ohio General Assembly prior to the review, and requires a state agency, if it does not adopt the recommendations of a reviewer, to notify the Governor and other aforementioned officials and to explain the reason why such recommendations were not adopted. -Specifies that this proposal will appear on the May 4, 2010 ballot and will take effect immediately if approved by a majority of voters.

Full Bill Text

Vote Smart's Synopsis:

Vote to pass a joint resolution that proposes a constitutional amendment to the voters that extends the "Third Frontier" program.

Highlights:

-Increases the amount of general obligation bonds and other state obligations available for research and development in support of Ohio industry, commerce and business from $500 million to $1.45 billion. -Increases the limit on state obligations available for research and development from $100 million to $500 million for fiscal years 2005-2006 to 2010-2011, and from $50 million to $190 million for fiscal year 2011-2012 and later years. -Resolves that this proposal will appear on the May 4, 2010 ballot and will take effect immediately if approved by a majority of voters.

Full Bill Text