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The Legislative Service Commission staff updates the Revised Code on an ongoing basis, as it completes its act review of enacted legislation. Updates may be slower during some times of the year, depending on the volume of enacted legislation.

Section 5531.101 | Motor fuel excise tax revenue - state infrastructure bank loans.

Ohio Revised Code
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Title 55 Roads-Highways-Bridges
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Chapter 5531 Federal Cooperation
 
Effective:
January 1, 2018
Latest Legislation:
House Bill 26 - 132nd General Assembly
PDF:
Download Authenticated PDF
 

(A) Municipal corporations, counties, and townships may not use revenue described under division (A)(3) of section 5735.05 of the Revised Code to repay loans made by the state infrastructure bank under section 5531.09 of the Revised Code if both of the following apply:

(1) The loans were made for highway, road, or street projects begun prior to March 31, 2003.

(2) The revenue:

(a) Results from the increase in the tax imposed under former section 5735.29 of the Revised Code pursuant to the amendment of the section by Am. Sub. H.B. 87 of the 125th General Assembly; and

(b) Is distributed under section 5735.27 of the Revised Code.

(B) While the loans described in division (A)(1) of this section are outstanding, the tax commissioner shall notify municipal corporations, counties, and townships receiving the revenue described in division (A)(2) of this section of the amount that cannot be used for the loan repayments.

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