The bill introduced by Representative Thomas seeks to amend various sections of the Revised Code concerning county budget commissions, property taxation, and local government funding. Key provisions include the establishment of new definitions for "qualifying nonbusiness property" and "qualifying business property," along with tax implications for these categories. The bill modifies existing tax reduction provisions, ensuring that certain taxes levied for specific purposes remain exempt from mandated reductions. It also clarifies the responsibilities of the tax commissioner and county auditors in determining tax reduction factors, emphasizing compliance and accurate reporting, with penalties for non-compliance that may include withholding state revenues.

Additionally, the bill introduces tax reductions for qualifying properties during reappraisals or triennial updates, allows county commissioners to authorize tax reductions for homesteads with exemptions, and modifies the distribution of funds to school districts based on enrollment figures. It addresses the taxation of manufactured and mobile homes, establishes criteria for tax reductions for disabled individuals and surviving spouses, and streamlines the process for tax levies and ballot language. The legislation aims to enhance transparency, fiscal responsibility, and equitable funding for local governments and educational institutions while providing financial relief to specific property owners.

Statutes affected:
As Introduced: 319.301, 323.08, 323.152, 323.155, 323.158, 323.32, 3317.01, 4503.06, 4503.065, 4503.0610, 5705.01, 5705.03, 5705.13, 5705.192, 5705.194, 5705.197, 5705.199, 5705.27, 5705.28, 5705.29, 5705.31, 5705.314, 5705.32, 5705.321, 5705.35, 5705.36, 5705.37, 5705.391, 5709.92, 5739.026, 5747.51, 5747.53, 5748.09