(A) As used in this section, an "eligible school district transfer" means the transfer, not later than June 30, 2015, of the entire territory of a local school district that has fewer than five hundred students to a contiguous local school district under section 3311.22 of the Revised Code that results in the cancellation of the amount owed to the solvency assistance fund by either or both districts under Section 7 of Am. Sub. H.B. 487 of the 130th general assembly.

(B) Notwithstanding anything to the contrary in the Revised Code, if a joint vocational school district gains territory on or after January 1, 2015, due to an eligible school district transfer, the joint vocational school district shall enter into a two-year transition agreement with the joint vocational school district that lost the territory gained by the other joint vocational school district due to the transfer. This agreement shall require all of the following:

(1) Each student of the local school district that is transferred who is enrolled, at the time of the transfer, in the joint vocational school district that lost territory due to the transfer shall remain enrolled in that joint vocational school district for the remainder of the student's secondary education, so long as the student is enrolled in the local school district that received territory in the transfer and continues to enroll in a career-technical program.

(2) In the first year following the transfer, the joint vocational school district that gains territory due to the transfer shall pay the joint vocational school district that lost territory due to the transfer an amount equal to one hundred per cent of the revenue collected from taxes levied under sections 3311.21 and 5705.21 of the Revised Code by the joint vocational school district that gains territory for the transferred portion of the district.

(3) In the second year following the transfer, the joint vocational school district that gains territory due to the transfer shall pay the joint vocational school district that lost territory due to the transfer an amount equal to fifty per cent of the revenue collected from taxes levied under sections 3311.21 and 5705.21 of the Revised Code by the joint vocational school district that gains territory for the transferred portion of the district.

Any other terms mutually agreed upon by both joint vocational school districts to ensure an orderly transition of territory that maximizes opportunities for students shall also be included in the agreement.

Added by 131st General Assembly File No. TBD, HB 64, §101.01, eff. 9/29/2015.