Tracked Senate Bills—February 2023

SB 2  PROPERTY TAX (Schuring, K.) Introduced on January 12, 2023, this bill seeks to authorize certain subdivisions to designate areas within which certain residential property is wholly or partially exempted from property taxation.  (Note this bill continues from SB 329, as was introduced in the 134^th General Assembly.)

Specifically, this bill makes changes to CRA law to authorize political subdivisions to establish up to 300-acre-sized Neighborhood Development Areas within their boundaries within which certain residential property is wholly or partially exempted from property taxation.  The NDA property tax exemptions would be 100% with local school board approval (75% without such approval); existing owner-occupied dwellings would receive 10-year exemptions for improvements ≥$5,000; in new home construction, the homebuilder would receive an exemption during the period from commencement of construction until the new home is sold, with the new home owner subsequently receiving a 10-year exemption.

SB 3  COMMUNITY REVITALIZATION (Schuring, K.)  Introduced on January 11, 2023, this bill seeks to create the Ohio Community Revitalization Program, authorizing nonrefundable income tax credits for undertaking community projects.  (Note this bill continues from SB 344, as was introduced in the 134^th General Assembly.)

SB 4 FILM & THEATER (Schuring, K.) Introduced on January 11, 2023, this bill modifies the film and theater tax credit and authorizes a tax credit for capital improvement projects relating to the film and theater industries.  (Note this bill continues from SB 341, as was introduced in the 134^th General Assembly.)

SB 5  WORKFORCE VOUCHER PROGRAM (Schuring, K.)  Introduced on January 11, 2023, this bill establishes the Workforce Voucher Program, which sunsets two years after the bill’s effective date, and authorizes tax credits for graduates of the Voucher Program.

SB 25 REAL PROPERTY FORECLOSURES (Hackett, R.) Introduced on January 23, 2023, this bill addresses procedural matters in tax foreclosures of real property under R.C. Chapter 2329.

SB 36 PROPERTY FORECLOSURES-TENANT RIGHTS (Blessing III, L.) Introduced on January 31, 2023, this bill grants to tenants and certain other eligible bidders’ rights relating to the purchase of residential property sold at foreclosure.