The bill amends section 5727.111 of the Revised Code to establish a new tax assessment rate for pipeline companies. Specifically, it introduces a new provision that sets the assessment rate for pipeline companies at twenty-five percent of their taxable property. This change replaces the previous assessment rate, which was not specified for pipeline companies, as the prior language regarding pipeline companies has been deleted from the law.

The amendment will take effect for the tax year 2025 and will apply to all subsequent tax years. Additionally, the bill repeals the existing section 5727.111, indicating a complete overhaul of the tax assessment framework for public utilities, including the newly defined rate for pipeline companies.

Statutes affected:
As Introduced: 5727.111