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OH HB198
Bill
Status
5/21/2014
Primary Sponsor
James Butler
Click for details
AI Summary
Sub. HB 198 Summary
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Requires municipal corporations, townships, and counties to notify property owners at least 30 days before adopting ordinances or resolutions to create tax increment financing (TIF) incentive districts.
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Allows property owners whose entire parcel is not located within a delineated "overlay" area to exclude their property from the proposed TIF district by submitting a written response within 45 days of receiving notice.
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Prohibits political subdivisions from filing exemption applications under section 5709.911 for any parcel where a property owner has submitted an exclusion response, and prevents service payment requirements for excluded properties.
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Defines "overlay" as a square or rectangular area (not exceeding 300 acres) with specific dimensional limits, which must be depicted on the notice map provided to property owners.
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Applies the notice and exclusion procedures to TIF districts in municipal corporations, townships, and counties, with similar notification requirements to school boards and other affected taxing entities.
Legislative Description
To establish a procedure by which political subdivisions proposing a tax increment financing (TIF) incentive district are required to provide notice to the record owner of each parcel within the proposed incentive district before creating the district, and to permit such owners, under specific conditions, to exclude their parcels from the incentive district by submitting a written response.
Tax increment financing-property owners- notice/exclude parcels
Last Action
To Ways & Means
5/22/2014