OH HB401

Amends section 5709.081 of the Revised Code to create a new property tax exemption for municipally owned facilities housing independent professional minor league baseball teams.

Exempts real property and land of public recreational facilities owned by municipal corporations and used primarily by independent professional minor league baseball teams for a significant portion of their home schedule, if constructed in 2008 or thereafter.

Requires the minor league team to operate under a lease, license, management agreement, or similar arrangement with the municipal corporation that includes payment of rent, revenue, or other remuneration to the municipality.

Defines "independent professional minor league baseball team" as a team employing professional players that is a member of an established league composed of teams not affiliated with major league baseball.

Applies the amendment retroactively to tax year 2009 and allows late filing of exemption applications for that year until the first day of the second month following the act's effective date.