OH HB480

Establishes compensation for school districts that suffered property tax losses due to natural disasters occurring on May 27-28, 2019, with eligibility requiring county emergency declaration and aggregate losses exceeding $750,000.

Directs the Department of Education to pay eligible school districts an amount equal to their eligible property tax loss from deductions to property valuation under Ohio Revised Code section 319.38.

Transfers $1,000,000 from the Controlling Board Emergency Purposes/Contingencies Fund (5KM0) to the General Revenue Fund to support payments.

Allows county auditors to certify individual district property tax losses to the Department of Education prior to payment processing.

Amends budget appropriations in H.B. 166 (sections 265.10 and 265.210) of the 133rd General Assembly to implement the disaster relief funding mechanism.