Bill > SB367

This bill modifies existing Ohio law to allow for a sales and use tax exemption on materials and services for certain construction or renovation projects when a port authority or county government unreasonably refuses to approve an agreement related to that project. Specifically, if a port authority or a board of county commissioners fails to approve a project agreement within thirty days, and the project meets certain criteria for "minimally acceptable investments" (meaning at least $25 million in real property improvements and obligations for surrounding public infrastructure), the project proposer can seek a certificate from the tax credit authority. This certificate would then authorize the sales tax exemption for materials and services used in the project, effectively bypassing the local government's refusal. The bill also amends existing provisions related to sales tax exemptions for construction materials and services, adding a new category (B)(13)(k) to section 5739.02 of the Revised Code to accommodate this exemption when a certificate is issued under the new provisions of section 4582.72.