HB147

Ohio HB147 exempts certain port authority materials from sales and use tax.

Ohio HB147 amends the state's sales and use tax law to exempt from taxation building and construction materials sold to contractors for incorporation into structures or improvements to real property in areas with a port authority. This includes materials sold under contracts valued at $25 million or more. The bill specifies that if the materials are later found to be real property, the contractee is considered the consumer and liable for the tax. Contractors and vendors are excused from liability if they acted in good faith. The changes apply to sales made after the bill's effective date.