Sub. H. B. No. 419 Summary

• Amends section 5741.02 of the Revised Code to exempt watercraft from Ohio's 5.75% state and local use tax when stored or repaired seasonally in the state.

• Exemption applies only if the watercraft is in Ohio solely for storage and maintenance purposes between May 1 and September 30 of any year.

• Watercraft must not be required to be registered in Ohio and owner must have paid taxes to another jurisdiction on the sale or use of the watercraft, or paid sales tax under section 5739.027, unless the watercraft's home jurisdiction imposes no sales or use tax.

• Exemption does not apply to sales of watercraft storage taxable under existing law or to repairs and installations of tangible personal property on the watercraft.

• Effective beginning the first day of the first month on or after the bill's effective date; intended to attract out-of-state boat owners to Ohio for winter storage and repair work.