The bill amends section 5739.21 and enacts section 122.97 of the Revised Code to establish a music incubator program aimed at providing sales tax rebates to eligible music venues and festival promoters in Ohio. The new section defines "eligible music venue or festival promoter" and outlines specific criteria that must be met for an entity to qualify for the rebate, including holding a vendor's license, hosting live performances, and entering contracts with musical artists. The bill also stipulates that eligible entities can apply for rebates starting in September 2026, with the rebate amount capped at the lesser of the state sales taxes collected from beer and wine sales or $100,000, and a total annual cap of $10 million for all rebates.

Additionally, the bill creates a music incubator rebate fund within the state treasury, funded by the first $10 million deposited into the state treasury from sales tax collections each fiscal year. The existing section 5739.21 is repealed, and the new provisions ensure that any rebates awarded must be used to support live music performances and that recipients must provide documentation of their expenditures. The director of development is tasked with overseeing the application process and ensuring compliance with the program's requirements.

Statutes affected:
As Introduced: 5739.21