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OH HB289
Bill
Status
6/5/2014
Primary Sponsor
Kirk Schuring
Click for details
AI Summary
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Terminates authority to create new alternative joint economic development zones (JEDZs) or substantially amend existing ones after December 31, 2014
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Requires contracting parties to establish joint economic development review councils to approve economic development plans for JEDZs created or substantially amended before the deadline, with council membership including business owners, property owners, and economic development representatives
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Authorizes municipal corporations to create municipal utility districts (MUDs) for economic development purposes, allowing them to share costs of improvements and distribute municipal income tax revenues from new businesses
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Converts existing municipal-only JEDZs created under repealed section 715.69 into municipal utility districts automatically, allowing them to continue operating under the new framework
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Requires at least 50% of zone income tax revenue to be used for services, facilities, and improvements specified in economic development plans until completion
Legislative Description
To terminate the authority to create new alternative joint economic development zones (JEDZs) or substantially modify existing alternative JEDZs after December 31, 2014, to require the creation of review councils to approve the economic development plans for alternative JEDZs created or substantially amended before that date, to eliminate municipal-only JEDZs, to authorize municipal corporations to create municipal utility districts (MUDs) for economic development purposes, to allow existing municipal-only JEDZs to continue operating as MUDs, and to declare an emergency.
Joint economic development zones/districts- revisions
Last Action
Effective Date
6/5/2014