H.B. No. 436 Summary

• Narrows purposes for which port authorities created before July 9, 1982, may issue revenue bonds beyond bonded indebtedness limits to only acquiring, constructing, furnishing, or equipping port authority facilities

• Exempts from sales and use tax sales of tangible personal property or services used in fulfilling a public contract with a port authority

• Applies the sales and use tax exemption effective the first day of the first month after the bill's effective date

• Modifies Section 4582.06 of the Revised Code regarding port authority powers and Section 5739.02 regarding sales tax exemptions

• Includes legislative findings explaining the bill aims to modify tax treatment for port authority contracts and clarify port authority revenue bond authority