OH SB71

Authorizes property tax exemption for real property of municipal corporations that house independent professional minor league baseball teams, if the facility was constructed in 2008 or later.

Requires the baseball 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.

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

Requires any residual cash accruing to the municipal corporation from the facility to be used for public purposes of the municipality.

Applies retroactively to tax years at issue in any pending exemption applications before the Tax Commissioner, Board of Tax Appeals, Courts of Appeals, or Supreme Court as of the bill's effective date.