2006 Ohio Revised Code - [5747.50.1] 5747.501.Estimation and certification of amount for distribution into local government fund.

[§ 5747.50.1] § 5747.501. Estimation and certification of amount for distribution into local government fund.
 

(A)  By the fifteenth day of December of each year, the tax commissioner shall estimate and certify the amount to be paid into the local government fund for distribution during the following calendar year under section 5747.50 of the Revised Code. The commissioner shall then determine the separate amounts that would be paid to each county if the amount so certified were distributed under divisions (A)(1) and (2) of this section as follows: 

(1) (a) As used in this division and in section 5747.50 of the Revised Code, "deposit tax revenue" means one hundred forty-five and forty-five one-hundredths per cent of the payments made to the county's undivided local government fund in 1983 from the tax imposed on deposits under division (C) of section 5707.03 of the Revised Code. 

(b) Compute each county's deposit tax revenue. 

(c) Determine how much each county would receive if nine-tenths of the difference between the amount certified under division (A) of this section and the sum of all counties' deposit tax revenues, less six million dollars, were allocated among the counties in the following year as follows: 

(i) Seventy-five per cent of said amount shall be apportioned in the ratio that the total of the real, public utility, and tangible personal property tax duplicates of the municipal corporations, or parts thereof, in the county for the year next preceding the year in which the computation is made bears to the total aggregate real, public utility, and tangible personal property tax duplicates of all the municipal corporations in the state for the same year. 

(ii) Twenty-five per cent shall be apportioned among all the counties in the ratio that the population of the county at the last federal decennial census bears to the total population of the state. 

(iii) Adjust the sum of the allocations under divisions (A)(1)(c)(i) and (ii) for each county so that the sum allocated to each county under those divisions is at least two hundred twenty-five thousand dollars. If such an adjustment is made, the sum of the apportionments to the counties for which no adjustment is necessary shall be proportionately reduced so that the sum of the allocations to all counties equals the amount to be allocated under divisions (A)(1)(c)(i) to (iii) of this section. 

(d) Add the amount allocated to each county under division (A)(1)(c) to its deposit tax revenue. 

(2) Determine how much each county would receive if nine-tenths of the amount certified by the commissioner, less six million dollars, were allocated in the manner prescribed by division (A)(1)(c) of this section. 

(B)  Upon the completion of the computations required by division (A) of this section, the commissioner shall assign to each county, the amount computed for it under division (A)(1)(d) of this section or the amount computed under division (A)(2) of this section, whichever is the higher amount, and compute the per cent that the assigned amount for each county is of the sum of the assigned amounts for all counties. The percentage so computed shall be the proportionate share of the county for the following calendar year for purposes of making the distributions required by section 5747.50 of the Revised Code. 
 

HISTORY: 140 v S 293 (Eff 1-1-84); 142 v H 171. Eff 7-1-87.