OH HB117

Amends sections 5751.20 and 5751.22 of the Revised Code to redirect commercial activity tax revenue allocations starting in fiscal year 2011.

Changes the distribution of commercial activity tax revenue so that 0% goes to the general revenue fund, 70% to the school district tangible property tax replacement fund, and 30% to the local government tangible property tax replacement fund for fiscal year 2011 and all subsequent years (indefinitely).

Requires 30% of commercial activity tax revenue be used for local government purposes, defined as monetary assistance to local taxing units including supplementing local government fund payments and continuing existing payment provisions.

Maintains the existing payment schedules for machinery and equipment, inventory, furniture and fixtures, and telephone property fixed-rate and fixed-sum levy losses through fiscal year 2017, with payments declining over time until they cease.

Establishes that beginning in fiscal year 2019, all amounts credited to the local government tangible property tax replacement fund shall be appropriated indefinitely for local government purposes as defined in the bill.