Sub. H.B. 166 - Summary

• Amends Ohio tax and property administration laws including sections on homestead tax reduction applications, agricultural land valuation, and tax commissioner authority over interest rates and penalties.

• Modifies community improvement corporation powers and county commissioner authority to contribute funds and pledge revenue as security for corporation borrowing.

• Establishes the Service Station Cleanup Fund ($5 million) and Abandoned Gas Station Cleanup Grant Program to award grants up to $100,000 for property assessments and $500,000 for cleanup/remediation at contaminated sites, with eligibility extended to county land reutilization corporations.

• Changes application deadlines for homestead tax reductions from June to December 31st and modifies procedures for agricultural land application notifications and determinations.

• Repeals various obsolete sections of the Revised Code related to court procedures, tax administration, and community improvement corporation operations, while updating definitions of "political subdivision" to include county land reutilization corporations.