The bill, H.B. No. 2025-2026, proposes the enactment of section 5721.51 of the Revised Code, which allows county auditors to apply for payments from the state to cover revenue losses due to delinquent property taxes on eligible delinquent land. The bill defines "eligible delinquent land" as land with delinquent taxes not exceeding 25% of its fair market value. Auditors can submit applications annually by October 1st, certifying the amount of uncollected delinquent taxes. The director of budget and management will review these applications and approve payments, which will be funded through the unclaimed funds trust fund.

Additionally, the bill outlines the process for distributing the funds received by county auditors to local taxing districts, ensuring that these funds are treated as if they were collected as delinquent taxes. It also includes provisions for the recovery of delinquent taxes and mandates that any payments received under this section must be repaid to the unclaimed funds trust fund within six years. The total amount of payments approved under this section is capped at $150 million, with further stipulations to ensure the balance of the unclaimed funds trust fund remains sufficient for pending claims. The bill appropriates $150 million for the delinquent tax reimbursement fund to facilitate these payments.