HB 233 Summary

• Authorizes municipal corporations to create downtown redevelopment districts (max 10 acres) to promote historic building rehabilitation and economic development in commercial and mixed-use areas through property tax exemptions on improvements.

• Allows municipalities to designate innovation districts within downtown redevelopment districts to attract technology-oriented businesses with high-speed broadband networks and provide grants/loans to qualified tech businesses.

• Establishes service payments in lieu of taxes (PILT) for exempted properties, with revenue directed to finance historic building rehabilitation loans, infrastructure improvements, and business development within the districts.

• Extends charitable property tax exemptions to certain museum properties that are open to the public and operated by public or charitable organizations.

• Authorizes eligible counties to use special lodging tax revenue not only for constructing but also for acquiring and equipping port authority facilities within one mile of Lake Erie shoreline.