OH SB271

Removes the $1 million annual cap and $500,000 per-grant cap on sports event grants awarded by the Director of Development Services to local organizing committees, endorsing municipalities, or endorsing counties.

Establishes the sports event grant fund as a custodial fund (separate from state treasury) to be administered by the Director of Development Services and funded by diverting state sales tax receipts under section 5739.02.

Grants are based on projected incremental increase in sales tax receipts within a designated market area during the two-week period surrounding a qualifying game, with grants ranging from 50% to the full amount of projected incremental tax increase.

Eligible games include national or international competitions (football, auto racing, rugby, cricket, horse racing, mixed martial arts, boxing) governed by international federations and included in Olympic games, Pan American games, Commonwealth games, or Special Olympics.

Requires the tax commissioner to divert sales tax receipts to the sports event grant fund equal to any grant amount certified by the director, with grant funds dispersed once sufficient money accumulates in the fund.