The bill amends section 319.301 of the Revised Code to include emergency levies, substitute levies, all inside millage, and school district income taxes in the calculation of a school district's effective millage floor. This change aims to provide a more comprehensive assessment of the tax burden on school districts by incorporating these additional tax types into the existing framework. The bill also introduces new definitions, such as "school district income tax" and "qualifying taxes charged and payable," which clarify the types of taxes considered in the calculations.

Additionally, the bill makes several deletions to streamline the language and definitions within the section. For instance, it removes the previous definition of "effective tax rate" and replaces it with updated terminology that reflects the new inclusions. The tax commissioner is tasked with determining the necessary adjustments to ensure that the effective millage floor accurately reflects the total tax burden on school districts, thereby ensuring that they can maintain adequate funding for their operations. The amendments will take effect for tax years beginning on or after the bill's effective date.

Statutes affected:
As Introduced: 319.301