S.B. No. 242 Summary

• Expands the charitable use property tax exemption by amending section 5709.121 of the Revised Code to include qualifying real property owned by institutions serving individuals with developmental disabilities or mental illness/substance use disorder.

• Allows property tax exemptions for institutions that acquire, develop, lease, or provide supportive housing to individuals with developmental disabilities if they receive funding from county boards of developmental disabilities.

• Extends exemptions to institutions providing supportive housing for individuals diagnosed with mental illness or substance use disorder and their families if funded by the Department of Mental Health and Addiction Services, county boards, or local continuum of care programs.

• Permits nonprofit arts institutions to claim property tax exemptions for qualifying parking garages from tax years 2020 to 2024, provided all prior taxes, interest, and penalties on properties owned by the operator have been paid.

• Applies to tax years ending on or after the effective date of the bill and repeals the existing section 5709.121 in its entirety.