OH SB121

Authorizes the Director of Transportation to establish a pilot program creating up to four transportation innovation authorities (TIAs) through agreements among governmental agencies to plan and fund multi-modal transportation projects.

Establishes powers and duties of TIAs including acquiring property, entering contracts, employing staff, and managing transportation projects through governing boards with equal representation from participating governmental agencies.

Requires TIAs to develop land use plans promoting zoning and policies consistent with transportation projects, with member governmental agencies expressing intent to adopt recommended changes.

Authorizes TIA project funding through special assessments, local taxes, tolls, bonds, private partnerships, and state infrastructure bank loans/grants, with toll revenue retained by authorities for administrative and operational costs.

Provides tax-exempt status for TIA projects and property; requires annual audited financial reports to the General Assembly and Director of Transportation; limits operating budget funding to contributions from member governmental agencies only.