SECTION 330:1-3-7. Petitions respecting rulemaking

(a)   Requirements. Any interested person may petition OHFA for the promulgation, amendment, or repeal of a rule. The petition shall set forth, in writing, the following information:

(1)   name and address of the person or entity requesting the action;

(2)   if an existing rule is effected, the petition should set out the existing rule in total, with new language underscored and striking out old language; new language should follow the language it replaces;

(3)   if a new rule is proposed, proposed language for said rule should be set out; and

(4)   an analysis of the new rule, amendment, or revocation, including but not limited to:

(A)   the statute, Trust Indenture, or other governing instrument which the rule interprets;

(B)   any related statute or rule;

(C)   any court decisions or Attorney General's opinions, or other explanatory material (all material must be clearly referenced as to source and authorities); and

(D)   a description of the classes of persons who most likely will be affected by the rule, amendment, or revocation.

(b)   Review By Trustees. The Trustees shall consider the matter within twenty (20) days of receipt of the petition and inform the petitioner of its decision to deny the petition or to initiate rulemaking procedures respecting the promulgation, amendment, or revocation of the subject rule. The failure of the Trustees to initiate rulemaking procedures within thirty (30) calendar days of receipt of the petition shall be deemed a denial of same.