OH SB387

Amends section 715.691 of the Revised Code to allow income tax revenue generated within a joint economic development zone (JEDZ) to be used for purposes of any contracting party, including townships.

Expands the definition of "contracting party" to include townships that enter into a JEDZ contract with municipal corporations, in addition to municipal corporations.

Allows two or more municipal corporations or combinations of townships and municipal corporations to enter into contracts to create JEDZs, share improvement costs, and designate zones for facilitating commercial or economic development.

Requires public hearings with at least 30 days' notice and voter approval in each contracting party before a JEDZ contract becomes effective.

Establishes a board of directors with three members appointed by each contracting party to govern the JEDZ, with authority to levy income taxes on zone income and business profits (subject to voter approval in most cases).