The bill amends sections 319.301 and 5705.314 of the Revised Code to restrict school districts' ability to reallocate unvoted property tax millage and to incorporate certain property and school district income taxes into the calculation of a school district's effective millage floor. Specifically, it introduces new definitions and calculations related to "qualifying taxes charged and payable," which include real property taxes and current expense school district income taxes. The bill also mandates that if a school district proposes to change its levy within the ten-mill limitation in a way that would increase real property taxes, a public hearing must be held prior to adopting the resolution.

Additionally, the bill deletes existing definitions related to the "effective tax rate" and modifies the language regarding the board of education's authority to change levies. It emphasizes the requirement for public notice and hearings for any proposed changes that could lead to increased taxation. The amendments will take effect for tax years beginning on or after the effective date of the bill, ensuring that the new regulations are applied moving forward.

Statutes affected:
As Introduced: 319.301, 5705.314