(A) For purposes of assisting in the administration of the real estate education and research fund, as provided in division (C) of section 4735.03 of the Revised Code, the commission may appoint an education and research fund advisory committee.
(B) The committee shall consist of nine voting members with three year staggered terms. Chairperson, vice-chairperson and members shall be appointed annually by the commission, upon the qualification of the commission member appointed in such year. The commission shall fill any vacancy within sixty days of such vacancy. Committee members may not serve more than two consecutive full terms.
(C) Membership shall be comprised of one agency representative, one representative of the Ohio realtors, one representative of the Ohio realtist association, one member of the commission and five persons actively licensed as real estate brokers or salespersons, pursuant to Chapter 4735. of the Revised Code. The commission may remove any member who misses two consecutive meetings without an excused absence. A majority of the committee members shall constitute a quorum.
(D) The committee shall hold at least one meeting annually.
(E) The commission shall:
(1) Adopt a prescribed funding application which, at a minimum, shall require disclosure of project manager, project description and an itemized budget;
(2) Adopt factoring criteria which shall be utilized by the commission and committee to provide a fair and impartial evaluation of proposed programs and/or projects;
(3) Adopt standard granting conditions that, at a minimum, meet those set forth in the "Federal Circulars and Common Rules Subgrant Guidelines" (https://www.whitehouse.gov/omb/circulars/), to which any grantee of education and research funds must agree and adhere. At a minimum, the conditions must require periodic progress reporting for grants requiring more than six months, staggered funding based on performance, provisions for cancellation or termination of the grant, methods under which the grantee may request an extension, disclosure of property rights and delivery requirements;
(4) Adopt a grant award letter which shall include special conditions as determined by the commission which must be satisfied by the grantee as a stipulation of funding;
(5) Recommend to the committee education projects, research projects and/or programs of interest to the real estate profession.
(F) The committee may:
(1) Solicit education projects, research projects and/or programs topics from industry members, consumers and educational institutions in this state;
(2) Advertise funding availability through, including but not limited to, issuing newsletter articles, press releases, website postings or requests for proposals;
(3) Recommend to the commission education projects, research projects and/or programs for funding;
(4) Recommend to the commission funding amounts based on the fiscal year budget allocation;
(5) Provide guidance and oversight to grantees of funds for education projects, research projects and/or programs.
(G) The division shall:
(1) Provide administrative support to the committee;
(2) Develop and distribute requests for proposals as instructed by the committee;
(3) Provide tracking information on funded programs and projects, budget information and other information requested by the committee or commission;
(4) Maintain and prepare required documents pursuant to paragraph (E) of this rule.