The bill, introduced by Senators Blessing and Smith, seeks to amend various sections of the Revised Code concerning property, income, sales and use, severance, and lodging taxes, with a focus on enhancing economic development and educational funding in Ohio. Key provisions include the establishment of a tax credit authority to grant exemptions for computer data center equipment, contingent upon meeting investment and employment criteria. The bill also mandates the provision of free breakfast and lunch to public and chartered nonpublic school students, increases the Local Government Fund allocation, and modifies funding for the Low- and Moderate-Income Housing Trust Fund. Notably, the bill includes a specific date after which no tax exemptions will be allowed, regardless of prior agreements, and repeals outdated tax provisions.

Additionally, the bill introduces several amendments to streamline tax administration, enhance transparency, and clarify definitions related to various tax-related terms and processes. It outlines the responsibilities of county auditors and treasurers regarding tax settlements, establishes new provisions for lodging taxes applicable to short-term rental properties, and modifies tax calculations for property taxes, particularly for disabled veterans and their surviving spouses. The legislation also emphasizes the importance of compliance in the natural resources sector, introduces new definitions for digital products and services, and allocates significant funding for community development initiatives, including housing programs and workforce development. Overall, the bill aims to modernize Ohio's tax framework while ensuring adequate support for local governments and educational institutions.

Statutes affected:
As Introduced: 122.175, 131.44, 131.51, 319.30, 319.301, 319.54, 321.24, 321.26, 323.08, 323.152, 323.155, 323.158, 351.01, 351.021, 353.06, 718.83, 1509.01, 1509.02, 1509.11, 1509.34, 1513.08, 1513.182, 3301.91, 3313.819, 3354.24, 3354.25, 4503.06, 4503.065, 5703.021, 5703.052, 5703.19, 5703.80, 5709.92, 5709.93, 5715.19, 5715.30, 5739.01, 5739.02, 5739.03, 5739.05, 5739.08, 5739.09, 5739.091, 5741.01, 5747.01, 5747.02, 5747.03, 5747.031, 5747.08, 5747.10, 5747.38, 5747.41, 5747.71, 5747.98, 5749.01, 5749.02, 5749.04, 5749.06, 5749.07, 5749.08, 5749.10, 5749.11, 5749.12, 5749.13, 5749.14, 5749.15, 5751.01, 5751.20, 319.302, 1509.50, 5739.41, 5751.40, 259.30, H.B, 5747.87