Ohio HB456 amends the definition of "amendment" for community reinvestment areas.

Ohio HB456 amends the definition of "amendment" for community reinvestment areas, specifying that an amendment includes modifications that increase tax exemption terms, extend the duration of a community reinvestment area, or change eligibility requirements. It also clarifies that certain modifications, such as expanding geographic size or increasing exempted percentage of assessed valuation, are not considered amendments. The bill repeals the existing section 3735.661 of the Revised Code.

Ohio HB456 amends the definition of "amendment" for community reinvestment areas.

Ohio HB456 amends the definition of "amendment" for community reinvestment areas, specifying that an amendment includes modifications that increase tax exemption terms, extend the duration of a community reinvestment area, or change eligibility requirements. It also clarifies that certain modifications, such as expanding geographic size or increasing exempted percentage of assessed valuation, are not considered amendments. The bill repeals the existing section 3735.661 of the Revised Code.