The bill amends the Revised Code to increase the sports gaming tax from twenty percent to thirty-six percent, with the additional revenue allocated to support sports venues and interscholastic athletics. It establishes a new section, 123.282, creating the Sports Venue Redevelopment Commission, which will evaluate and fund sports venue development projects. The legislation also introduces definitions for terms related to cultural and sports facilities, such as "Ohio sports facility" and "professional sports franchise." Furthermore, it sets a cap on state funding for Ohio sports facilities at 15% of the initial estimated construction costs and outlines conditions under which state funds can be used for motorsports complexes.

Additionally, the bill creates the Sports Venue Redevelopment Fund, managed by a commission appointed by state leaders, to support the renovation or construction of sports facilities. Eligibility criteria for funding include ownership by the state or a political subdivision and a commitment from a sports franchise to host a majority of home games at the facility. The bill also establishes several funds, including the Sports Gaming Revenue Fund and the Interscholastic Athletics Fund, and repeals existing sections of the Revised Code to implement these changes effectively.

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