The bill amends the Revised Code to increase the sports gaming tax from twenty percent to thirty-six percent, with the additional revenue aimed at funding sports venues and interscholastic athletics. It establishes a new section, 123.282, creating the Sports Venue Redevelopment Commission, which will evaluate and award funds for sports venue development projects. The legislation also introduces definitions for terms related to cultural and sports facilities, such as "Ohio sports facility," "professional sports franchise," and "minor league sports franchise."

Furthermore, the bill sets up the Sports Venue Redevelopment Fund to support the renovation or construction of sports facilities in Ohio, managed by a commission appointed by the governor, the speaker of the house, and the president of the senate. The commission will assess projects based on criteria like ownership and commitment to hosting sports events. It also specifies that state funds for constructing Ohio sports facilities cannot exceed fifteen percent of the initial estimated construction cost and cannot be used for motorsports complexes or tennis facilities without specific contracts. The bill repeals existing sections of the Revised Code related to these provisions to create a cohesive legal framework.

Statutes affected:
As Introduced: 123.28, 123.281, 5753.021, 5753.031