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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 5709.50 | Regional transportation improvement project fund.

Ohio Revised Code
/
Title 57 Taxation
/
Chapter 5709 Taxable Property - Exemptions
 
You are viewing a past version of this section that is no longer in effect View Current Version
Effective:
September 29, 2017
Legislation:
House Bill 49 - 132nd General Assembly
PDF:
Download Authenticated PDF
 

(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.

Available Versions of this Section