The bill proposes the creation of the Ohio Sports Council, which will be established within the Department of Development. The council's primary purpose is to evaluate the economic impacts of sporting events in Ohio and to provide recommendations to the General Assembly on policies aimed at enhancing the state's sporting event economy. The council will consist of fourteen members, including representatives from the Senate, House of Representatives, local sports commissions, and various sports governance organizations. Members will be appointed by legislative leaders and the governor, serving without compensation but eligible for reimbursement of expenses.

Additionally, the council will collaborate with various stakeholders, including the Department of Taxation and local entities, to assess state and local tax revenues generated from sporting events, both directly and indirectly. It will also evaluate the incremental tax revenue increases from sporting events that choose to be held in Ohio rather than elsewhere, as well as the marketing benefits to the state and local communities. The council will have the authority to appoint employees as needed and will conduct its meetings biannually, with a quorum requiring a majority of its members.