OH SB66

Amends Ohio Revised Code section 319.301 to expand the calculation of a school district's effective millage floor by including emergency levies, substitute levies, all inside millage, and school district income taxes

Creates a new "qualifying taxes charged and payable" definition that includes taxes levied within the constitutional 1% limitation, current expense taxes under emergency levy provisions (sections 5705.194-5705.197 and 5705.199), and a property tax equivalent rate for school district income taxes

Requires the tax commissioner to compute annually a property tax equivalent rate for each school district levying an income tax by dividing the estimated income tax liability by the product of one mill times the district's total taxable value

Maintains the 2% effective millage floor for regular school districts and 0.2% floor for joint vocational school districts, but expands which revenue sources count toward meeting those thresholds

Applies to tax years beginning on or after the effective date of the act