S.B. 209 Summary

• Amends Ohio sales tax law to provide a reduction of up to $2,000 in sales tax on purchases or leases of qualifying plug-in electric drive vehicles.

• Defines a "qualified plug-in electric drive vehicle" as a four-wheeled vehicle with an electric motor drawing power from a rechargeable battery of at least four kilowatt-hours, capable of speeds of 55+ mph, registered in Ohio, and purchased/leased before January 1, 2015.

• Limits the partial exemption to one vehicle per individual per calendar year for personal use, or ten vehicles per business per calendar year for business use.

• Reduces sales tax owed by $2,000 on qualifying vehicle sales or leases, with no tax due if the calculated tax amount is $2,000 or less.

• Applies effective upon the bill's enactment date and includes extensive existing tax collection schedules for various combined state and local tax rates.