OH HB576

Creates "Ohio opportunity areas" where state and local governments can jointly offer tax exemptions, credits, deductions, and other business incentives to companies that commit to creating or preserving jobs in designated commercial or agricultural zones.

Establishes a board of directors for each opportunity area with authority to enter agreements with businesses, accept service payments in lieu of taxes, grant/guarantee loans for infrastructure, levy income taxes (with property owner petition), and waive prevailing wage requirements for public improvement projects.

Allows businesses located in opportunity areas to form multiple employer welfare arrangements for health insurance through fully insured or group self-insurance programs, with exemptions from certain regulatory chapters.

Requires non-participating taxing authorities to be reimbursed for revenue losses from tax incentives, and mandates 30-day public notice and public hearings before subdivisions approve opportunity area contracts.

Enables self-insuring consortiums of employers in opportunity areas to pay workers' compensation benefits directly (similar to individual self-insuring employers) if they collectively meet financial and operational requirements, with joint and several liability among consortium members.