OH HB309

Enacts section 3735.674 of the Revised Code to allow legislative authorities to exempt new commercial or industrial structures in Community Reinvestment Areas from property taxation for up to 30 years, extending beyond the standard 15-year exemption period.

Requires petition approval by the director of development and construction must begin within one year of the bill's effective date.

Mandates structures have a construction cost of at least $100 million, employ at least 100 workers during construction (75% Ohio residents), and create at least 200 full-time jobs upon completion.

Requires at least 75% of construction materials to be manufactured in Ohio or supplied by Ohio-based businesses.

Restricts exemption to 15 years if the occupant reduced operations elsewhere in Ohio within one year before or after occupying the structure; requires a development agreement between the legislative authority and property owner approved by the local school board.