The bill amends sections 322.02, 322.03, and 322.06 of the Revised Code to mandate that any increased county real estate and manufactured home conveyance fees be specifically allocated for county housing purposes. It introduces new provisions that require counties to use a portion of the funds collected from the real property transfer tax and manufactured home transfer tax for housing initiatives. Specifically, any remaining balance after covering administrative costs and general fund allocations must be deposited into a newly created county housing fund, which will be used for low-income housing, first-time home buyer assistance, disability housing, and transition housing.

Additionally, the bill modifies the language regarding the purpose of the taxes, emphasizing the funding of housing initiatives alongside general revenue needs. The existing language that previously stated the tax was for "enforcing and administering the tax" has been updated to include "funding housing initiatives." The bill also repeals the previous versions of sections 322.02, 322.03, and 322.06, effectively replacing them with the new provisions outlined in the legislation.

Statutes affected:
As Introduced: 322.02, 322.03, 322.06