2017 Ohio Revised Code
Title [57] LVII TAXATION
Chapter 5709 - TAXABLE PROPERTY - EXEMPTIONS
Section 5709.50 - Regional transportation improvement project fund.
(A) A county that grants a tax exemption under section 5709.48 of the Revised Code shall establish a regional transportation improvement project fund into which shall be deposited service payments in lieu of taxes distributed to the county under section 5709.49 of the Revised Code. Money in the regional transportation improvement project fund shall be used to compensate subdivisions and taxing units within which exempted parcels are located pursuant to agreements entered into by the county under division (E) of section 5709.48 of the Revised Code. The remainder shall be dispensed to the governing board of the regional transportation improvement project and used for the purposes described in the resolution creating the transportation financing district.
(B) Any incidental surplus remaining in the regional transportation improvement project fund or an account of that fund upon dissolution of the fund or account shall be transferred to the general fund of the county.
Added by 132nd General Assembly File No. TBD, HB 49, §101.01, eff. 9/29/2017.
