The bill introduced by Senator Smith aims to amend section 5739.21 and enact section 122.97 of the Revised Code to establish a music incubator program in Ohio. This program will provide sales tax rebates to eligible music venues and festival promoters that meet specific criteria, such as holding a vendor's license, hosting live performances, and entering contracts with performing artists. The bill defines an "eligible music venue or festival promoter" and outlines the application process for rebates, which will be available starting in September 2026. The rebates will be capped at $100,000 per venue or promoter, with a total annual limit of $10 million for the program.

Additionally, the bill modifies the existing section 5739.21 to allocate the first $10 million deposited into the state treasury from sales tax collections to the newly created music incubator rebate fund. This fund will be used exclusively for awarding rebates to eligible music venues and festival promoters. The bill also includes provisions for the director of development to oversee the application process and ensure that rebates are used to support live music performances in the state. The existing section 5739.21 is set to be repealed as part of this legislative change.

Statutes affected:
As Introduced: 5739.21