Allows tax increment financing for police and firefighting facilities in Ohio.

This bill amends Ohio's tax code to allow municipal corporations to use tax increment financing for police and firefighting facilities. It specifies the conditions under which such facilities can be declared a public purpose and exempted from taxation. The bill outlines the process for creating incentive districts, the role of various boards in approving or objecting to these exemptions, and the compensation mechanisms for affected school districts.

Allows tax increment financing for police and firefighting facilities in Ohio.

This bill amends Ohio's tax code to allow municipal corporations to use tax increment financing for police and firefighting facilities. It specifies the conditions under which such facilities can be declared a public purpose and exempted from taxation. The bill outlines the process for creating incentive districts, the role of various boards in approving or objecting to these exemptions, and the compensation mechanisms for affected school districts.