OH SB313

Amends Section 265.210 of H.B. 166 to require the Department of Education to make additional payments to school districts with power plants that experience utility tangible personal property tax value decreases exceeding 10 percent.

Tax Commissioner must determine within ten days whether utility property taxable value decreased by more than 10 percent by comparing tax years 2017, 2018, and 2019, then certify findings to the Department of Education and Office of Budget and Management.

Department of Education shall recompute state education aid for fiscal year 2019 using the updated taxable value and pay districts the greater of either: the difference in aid calculations, or 50 percent of the certified tax change amount.

For fiscal year 2021, Tax Commissioner must perform similar analysis comparing 2020 utility property values to 2017 and 2019, with Department making payments between June 1-30, 2021.

Provides credit to school districts that previously had funds deducted under former section 3317.028 due to utility property increases between 2016-2017.