The bill introduced in the 136th General Assembly seeks to amend various sections of the Revised Code to impose a tax on high-volume landlords, specifically targeting individuals or combined taxpayer groups owning fifty or more taxable houses. It introduces new definitions, such as "taxable house," "pass-through entity," and "qualifying transfer," and mandates that a statement declaring the value of the property must be submitted before any real property or mobile home conveyance is registered. The bill also modifies the tax collection process, granting the attorney general authority to assess collection costs and compromise claims, while outlining the responsibilities of the county auditor in processing property conveyances.

Additionally, the bill establishes a housing market impact tax set at two thousand dollars for each taxable house owned, with provisions for electronic filing and the creation of a housing market impact tax revenue fund. It extends the time limit for tax assessments and clarifies the tax commissioner's authority to enforce tax regulations. The bill includes penalties for tax return preparers who engage in prohibited conduct and specifies that pass-through entities must file statements with the county auditor regarding their properties. Overall, the legislation aims to enhance tax compliance and streamline processes related to property taxation and liquor permits while ensuring proper tax administration.

Statutes affected:
As Introduced: 131.02, 319.202, 715.013, 4303.26, 5703.052, 5703.053, 5703.19, 5703.263, 5703.50, 5703.70, 5703.77, 5703.90, 5725.26, 5751.051