The proposed bill, H.B. No. 2025-2026, seeks to enact a new section, 5709.122, of the Revised Code, which mandates payments in lieu of taxes from nonprofit conservation organizations that hold significant amounts of tax-exempt land. Specifically, the bill defines a "nonprofit conservation organization" as one that is recognized under section 501(c)(3) of the Internal Revenue Code and primarily focused on environmental conservation. It also outlines the criteria for "qualifying real property," which includes properties owned by these organizations that exceed fifteen thousand acres in a single county and are exempt from taxation for charitable purposes.

Under the new provisions, starting in 2026, these organizations must pay an amount equal to 2.5% of the unimproved taxable value of their qualifying real property to the county treasurer by June 30 each year. The county auditor is then responsible for distributing these funds among the relevant taxing units based on the taxes that would have been collected if the property were taxable. Additionally, the bill stipulates that any unpaid amounts will be collected similarly to delinquent real property taxes, ensuring compliance with the new payment requirements.