The bill amends section 3735.67 of the Revised Code to require school district approval for property tax exemptions related to residential community reinvestment areas. Under the new provisions, property owners seeking tax exemptions for new constructions or remodels must submit their applications to the housing officer, who will then request approval from the relevant school district's board of education. The board must respond to the application within 45 days, and they may impose conditions for approval. If the board has previously adopted a resolution waiving its right to approve such applications, then approval is not required.

Additionally, the bill introduces specific criteria for when school board approval is not necessary, particularly if the estimated tax contributions from the property owner meet or exceed 25% of the taxes that would have been owed without the exemption. The bill also outlines the process for handling applications, including the requirement for the housing officer to certify the application to the school board and the conditions under which the housing officer can approve the application. Overall, the changes aim to enhance local control over property tax exemptions in community reinvestment areas.

Statutes affected:
As Introduced: 3735.67